REGISTERED NUMBER: 07148679 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

TRILANCO LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

7

Report of the Independent Auditors

10

Statement of Comprehensive Income

14

Statement of Financial Position

15

Statement of Changes in Equity

16

Statement of Cash Flows

17

Notes to the Statement of Cash Flows

18

Notes to the Financial Statements

20

DIRECTORS:

Mr M Balmer

Mrs L Balmer

REGISTERED OFFICE:

Coronation Way

Mill Farm Sports Village,

Wesham

Preston

PR4 3JZ

REGISTERED NUMBER:

07148679 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

HSBC

Oxford Square

1 Newhouse Road

Blackpool

FY4 4YH

SOLICITORS:

Hill Dickinson LLP

50 Fountain Street

Manchester

M2 2AS

The directors present their strategic report for the year ended 30 April 2025.

REVIEW OF BUSINESS

The general direction of the business continues along the strategy put in place several years ago, which is to become the preferred supplier of everyday essentials to UK agri, equine and pet retailers, via a focus on providing retailers with the easiest way of buying market leading brands.

The financial year was a "game of two halves" with subdued trading in the run up to the general election and around the autumn budget being followed by a strong second half. Retailers have definitely become more aware of the cash flow impact of stock purchases, and price has returned as a strong (if not the strongest) determinant on source of supply.

Once again Trilanco's main trading sectors have remained resilient in the face of strong headwinds and volumes and revenues have remained consistent.

During the year the business continued to see increased costs in several significant areas; increases in labour costs resulting from the increase in national living wage / employer's NIC increase and our decision to maintain £ hourly rate differentials within the business and also increases in haulage and distribution costs as a result of increases in UK labour costs in the transport sector.

The overall impact of the increased Gross Profit offset by increased operating costs was to reduce PBT from £555,383 in FY24 to £131,649 in FY25.

The Company has continued to improve its wider working capital management. Improvements in credit control and inventory management made during previous years have been sustained, and the introduction of improved inventory planning processes had reduced the level of slow moving inventory in the business.

The Board of Directors are pleased to announce that the Company is compliant with the financial covenant tests required as part of its banking facility agreements throughout the financial year. The latest financial forecasts for the Company show covenant headroom and compliance for the next 12 months.

The Directors and Senior Management Team remain confident as to the trading prospects of the Company for the 2025 financial year and beyond. Whilst the socio, economic and political environment give rise to a range of operational, commercial and financial challenges across the UK, the company's sector focus and lean operational model continues to make it well equipped for the challenges ahead. As a result, the Board of Directors believes Trilanco Limited has appropriate operational, financial and commercial structures to help it navigate this environment and continue to provide top quality agricultural, equine and pet products to the UK wholesale market.

Key performance indicators

The main financial key performance indicators used to monitor business performance are sales, gross profit margin, EBITDA and inventory turnover. In addition, a number of cash and working capital measures are in place to ensure covenant compliance is maintained, and a "balance scorecard" of operational measures is monitored monthly to ensure health and safety, regulatory compliance, customer experience and operational productivity are all being managed appropriately.

%

£'000

%

£'000

KPI's

2025

2024

Turnover

58,921

59,063

Gross Profit

13.6

7,994

13.2

7,803

EBITDA

703

1,114

Net Assets

4,697

4,743

Future Developments

Trilanco's position in the market continues to attract brand owners seeking access to Trilanco's large customer base, and its industry leading warehousing and distribution capabilities continue to prove attractive to brand owners seeking flexible, industry leading distribution capabilities. The Directors and Senior Management Team remain confident that difficult trading conditions for brand owners in the next year will present as many opportunities as challenges.

PRINCIPAL RISKS AND UNCERTAINTIES

Foreign currency exposure is low and is limited by applying a natural hedge between sales and purchases in foreign currencies, where possible quoting in sterling in overseas markets and if necessary, taking out forward contracts.

Credit risk is mitigated through credit insurance where available and the limiting of credit offered to overseas customers.

Liquidity risk is facilitated by the use of a multi-currency facility from our Bank and constant monitoring of cashflow.

Environmental and Socio economic risk is mitigated by positioning the business around everyday essentials. We believe this has minimised the risk of the short-term reduction in discretionary spending impacting our sales. The major risk faced by the company is the medium-term view on horse ownership, as the company slowly recovers to pre-Covid / Brexit levels. Balancing the business's offering across animal health, everyday equine, pet essentials, farmyard and stable and small holding supplies is aimed at minimising our exposure to a significant change in any one of these areas.

SECTION 172(1) STATEMENT

The Directors of the Company are aware of their duty under section 172 of the Companies Act 2006 to act in a way that is considered to be both in the good faith and most likely to promote the success of the Company. In doing so the Directors must have regard (amongst other matters) to: -

- the likely consequences of any decision in the long term;

- the interests of the company's employees;

- the need to foster the company's business relationships with suppliers, customers and others;

- the impact of the company's operations on the community and the environment;

- the desirability of the company maintaining a reputation for high standards of business conduct; and

- the need to act fairly as between members of the company.

The Directors have identified the key stakeholders as follows:-

- Employees;

- Customers;

- Suppliers;

- Local Community.

The statements below describe how the Directors engage with the Company's key stakeholders and how their interests are considered.

Employees

The long-term success of the Company is dependent upon an engaged and committed work force.

Key Topics of Engagement

How we Engaged

Outcome

- Health & Safety

- Operate a Health & safety committee with employee representation.

- Recorded 2 days and 1 hour of lost time since January 2025.

- Employee well being

- Monthly H&S reviews including employee representatives.

- Employee turnover has reduced from 23.6% to 12.72%.

- Employee Development

- Provide a Simply Health cash plan to support employee minor health.

- Absence levels remain stable across the year at 2-3%

- Provision of life insurance to all employees.

- Operation of "recommend a friend" scheme.

- Offered hybrid working to all those whose roles are capable of being performed effectively away from Mill Farm.

- For those working on site we are offering more flexibility in shift patterns .

- Operate a profit related bonus scheme for all employees.

- Operating a monthly "colleague forum" to enhance engagement.

- Operate Stream which allows employee to 'stream' their wage in advance of pay day to assist them into not having to take out debt to pay for unexpected costs.

- Introduce a Cycle to Work scheme.

- Offer salary sacrifice where applicable for pension contributions.

Customers

The long-term success of the Company is also dependent upon developing and maintaining mutually beneficial relationships with our customers.

Key Topics of Engagement

How we Engaged

Outcome

- Providing a high-quality service

- Continued to invest in our webstore to offer better functionality to customers

- Growth in more than 80% of our top 20 customers

- Understanding our customer's needs

- Operate a ticketing process in customer services to improve how we sequence and prioritise customer communications.

- Lower customer loss rate

- Changed the sales structure to focus a dedicated group of account managers on more focused conversation with customers about what is and isn't working in our offering.

- Year on year reduction in number and duration of phone calls received at the same time as increasing number of customers using webstore to manage their accounts, including registering issues online.- High satisfaction scores in response to customer service queries.

Suppliers

The Directors recognise that relationships we have developed with our suppliers are key to our service offering.

Key Topics of Engagement

How we Engaged

Outcome

- Range of product

- Worked with existing suppliers to hone stocked ranges to improve availability and market penetration

- Improved availability of top sellers. Fill rate on best sellers increased from under 90% to over 95%.

- Quality of product- Stock availability and timeliness of supply

- Developed deeper relationships with a group of strategic suppliers who we work on an exclusive relationship with.- Introduced the role of Category Manager to focus on supplier relationships.

- Desired changes in product mixes sold. High proportion of non meds in baskets containing meds.

Community

The Directors recognise their responsibility to protect the environment and to protect the interests of the local community.

Key Topics of Engagement

How we Engaged

Outcome

- Engaging with local public health initiatives

- Reduction in amount of plastic wrap used

- Maintained 30% reduction in our annualised electricity consumption.

- Reducing our carbon footprint

- Membership and participation in our local Chamber of Commerce

- Working towards lower use of plastic packaging

- Regular energy reviews and reduction actions.

- Engaging and supporting local business representation organisations

- Colleagues invited to NHS Health Screening in 50 - 74 age group.

- Engaging with the local government initiatives to drive economic growth in our travel to work area

- Responsible recycling in the community, implementing a no food waste to landfill on site.- Participate in identifying skill shortages and reasons for this in the local area.

ON BEHALF OF THE BOARD:

Mr M Balmer - Director

10 December 2025

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of the wholesale of specialist agricultural/animal health, equine and pet products.

DIVIDENDS

Dividends paid amounted to £120,000 (2024 - £120,000) and it is proposed that the retained profit for the year of -£46,087 (2024 - £270,211) be taken to reserves.

RESEARCH AND DEVELOPMENT

The Company continues to carry out research and development into bespoke and application system development and new products.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2024 to the date of this report.

Mr M Balmer

Mrs L Balmer

FINANCIAL INSTRUMENTS

The Company has only basic financial instruments. Bank borrowings are in the form of loans, overdrafts and invoice financing facilities.

GOING CONCERN

The financial statements are prepared on a going concern basis which the directors believe to be appropriate. During 2024/25 the company continued to be profitable with a reported operating profit of £578k for the year, EBITDA of £703k and there are net assets of £4.697 million. The directors and senior management team are confident that company will continue to be profitable in future periods.

The company meets its day to day working capital requirements through a combination of an overdraft facility, an invoice discounting facility provided by its bank, together with loans provided for the acquisition of assets in prior years.

The directors have prepared forecasts which show that, for a period of at least twelve months from the date of approval of these financial statements the company will remain within its overdraft and invoice discounting facilities and repay instalments on the loans as they fall due.

STREAMLINED ENERGY AND CARBON REPORTING

As a large company, under the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, we are required to prepare a Streamlined Energy Carbon Reporting Report. This report contains details of the Company's annual energy usage (in kWh) and the relevant greenhouse gas emissions (in tonnes of carbon dioxide equivalent (CO2e)).

The intensity ratio is calculated by comparing emissions data to the company turnover for the period.

2025 Energy Usage in kWh

2025Greenh ouse Gas Emissions in CO2e

2025 Kg of Co2e emissions per £1,000 of turnover

2024 Energy Usage in kWh

2024Greenh ouse Gas Emissions in CO2e

2024 Kg of Co2e emissions per £1,000 of turnover

Electricity

300,256

62,168

298,912

61,890

Transport

945,969

238,356

989,175

251,280

Total

1,246,225

300,524

5.10

1,288,087

313,170

5.30

The conversions factors used in the above table are taken from the UK Government GHG Conversion Factors for Company Reporting. In the year the company used 1,246,225 kWh of energy for our warehouse and transport fleet. This energy equates to 300,524 kg of CO2e emissions. The total turnover for the company for the year is £58,921,154, which when compared to the CO2e emissions of the year, gives us an intensity ratio of 5.10 Kg of CO2e emissions per £1,000 of turnover.

Trilanco continues to take the below measures to improve our energy efficiency:-

- Our warehouse was built in 2016 to high levels of energy efficiency (lights reacting to movement and ambient light levels, highly insulated etc).

- We have also been reviewing our energy usage within our warehouse to remove any 'waste' and reduce our overall consumption.

- We ensure that at the point of renewal forklift trucks are of the highest energy efficiency possible.

- Transport represents our largest CO2 reduction opportunity. We are working with customers to consolidate orders to minimise journey numbers, using improved vehicle routing to make necessary journeys shorter, and have an ongoing programme of fleet vehicle renewal to strive constantly for higher levels of fuel efficiency / lower emissions.

FUTURE DEVELOPMENTS AND PRINCIPAL RISKS AND UNCERTAINTIES

An indication of future developments in the business and details of the Company's various risk strategies have been included in the Strategic Report.

BUSINESS RELATIONSHIPS

Business relationships are discussed within the Strategic Report on pages 4 and 5, in accordance with the provisions of s172(1)(c) of the Companies Act 2006.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr M Balmer - Director

10 December 2025

Opinion

We have audited the financial statements of Trilanco Limited (the 'company') for the year ended 30 April 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page eight, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

we identified the laws and regulations applicable to the company through discussions with directors and other management, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on it's operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, employment legislation and Health and Safety regulations.

- we enquired of the directors and reviewed correspondence with HMRC for evidence of non-compliance with laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

- we reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above;

- we enquired of the directors about actual and potential litigation and claims.

Due to inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

10 December 2025

TURNOVER

3

58,921,154

59,062,588

Cost of sales

50,927,389

51,259,690

GROSS PROFIT

7,993,765

7,802,898

Distribution costs

4,130,547

3,703,917

Administrative expenses

3,285,335

3,112,160

7,415,882

6,816,077

OPERATING PROFIT

577,883

986,821

Interest receivable and similar income

-

85

577,883

986,906

Interest payable and similar expenses

5

446,234

431,523

PROFIT BEFORE TAXATION

6

131,649

555,383

Tax on profit

7

57,736

165,172

PROFIT FOR THE FINANCIAL YEAR

73,913

390,211

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

73,913

390,211

FIXED ASSETS

Intangible assets

9

7,710

14,320

Tangible assets

10

7,244,942

7,360,074

7,252,652

7,374,394

CURRENT ASSETS

Stocks

11

5,114,430

5,583,937

Debtors

12

10,466,138

9,962,456

Cash at bank and in hand

1,804,338

1,539,149

17,384,906

17,085,542

CREDITORS

Amounts falling due within one year

13

17,256,944

16,729,822

NET CURRENT ASSETS

127,962

355,720

TOTAL ASSETS LESS CURRENT LIABILITIES

7,380,614

7,730,114

CREDITORS

Amounts falling due after more than one year

14

(2,180,321

)

(2,494,352

)

PROVISIONS FOR LIABILITIES

18

(503,661

)

(493,043

)

NET ASSETS

4,696,632

4,742,719

CAPITAL AND RESERVES

Called up share capital

19

900

900

Capital redemption reserve

20

124

124

Retained earnings

20

4,695,608

4,741,695

SHAREHOLDERS' FUNDS

4,696,632

4,742,719

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

Mr M Balmer - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 May 2023

900

4,471,484

124

4,472,508

Changes in equity

Dividends

-

(120,000

)

-

(120,000

)

Total comprehensive income

-

390,211

-

390,211

Balance at 30 April 2024

900

4,741,695

124

4,742,719

Changes in equity

Dividends

-

(120,000

)

-

(120,000

)

Total comprehensive income

-

73,913

-

73,913

Balance at 30 April 2025

900

4,695,608

124

4,696,632

Cash flows from operating activities

Cash generated from operations

1

1,235,690

1,186,899

Interest paid

(446,234

)

(431,523

)

Tax paid

(139,279

)

(77,632

)

Net cash from operating activities

650,177

677,744

Cash flows from investing activities

Purchase of tangible fixed assets

(3,726

)

(63,164

)

Interest received

-

85

Net cash from investing activities

(3,726

)

(63,079

)

Cash flows from financing activities

Loan repayments in year

(266,863

)

(218,774

)

Amount introduced by directors

120,000

120,000

Amount withdrawn by directors

(109,500

)

(109,500

)

Equity dividends paid

(120,000

)

(120,000

)

Net cash from financing activities

(376,363

)

(328,274

)

Increase in cash and cash equivalents

270,088

286,391

Cash and cash equivalents at beginning of year

2

1,534,157

1,247,766

Cash and cash equivalents at end of year

2

1,804,245

1,534,157

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

131,649

555,383

Depreciation charges

118,858

120,555

Loss on disposal of fixed assets

-

5,065

Amortisation charges

6,609

6,609

Finance costs

446,234

431,523

Finance income

-

(85

)

703,350

1,119,050

Decrease/(increase) in stocks

469,507

(309,027

)

Increase in trade and other debtors

(506,282

)

(815,452

)

Increase in trade and other creditors

569,115

1,192,328

Cash generated from operations

1,235,690

1,186,899

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 April 2025

30/4/25

1/5/24

£

£

Cash and cash equivalents

1,804,338

1,539,149

Bank overdrafts

(93

)

(4,992

)

1,804,245

1,534,157

Year ended 30 April 2024

30/4/24

1/5/23

£

£

Cash and cash equivalents

1,539,149

1,247,766

Bank overdrafts

(4,992

)

-

1,534,157

1,247,766

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/5/24

Cash flow

At 30/4/25

£

£

£

Net cash

Cash at bank and in hand

1,539,149

265,189

1,804,338

Bank overdrafts

(4,992

)

4,899

(93

)

1,534,157

270,088

1,804,245

Debt

Debts falling due within 1 year

(259,289

)

(47,167

)

(306,456

)

Debts falling due after 1 year

(2,494,352

)

314,031

(2,180,321

)

(2,753,641

)

266,864

(2,486,777

)

Total

(1,219,484

)

536,952

(682,532

)