ESB (Holdings) Ltd Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 09320750

ESB (Holdings) Ltd

Financial Statements

31 March 2025

ESB (Holdings) Ltd

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	3

Independent auditor's report to the members	5

Consolidated statement of income and retained earnings	9

Company statement of income and retained earnings	10

Consolidated statement of financial position	11

Company statement of financial position	12

Consolidated statement of cash flows	13

Notes to the financial statements	14

ESB (Holdings) Ltd

Officers and Professional Advisers

The board of directors	Mr M Broughton
	Mr C Smith
	Mr J Eynon

Registered office	Creation House
	50-72 Gauntley Street
	Nottingham
	England
	NG7 5HF

Auditor	Clements Jones
	Chartered accountants & statutory auditor
	1 Picton Lane
	Swansea
	SA1 4AF

ESB (Holdings) Ltd

Strategic Report

Year ended 31 March 2025

Fair review of business

During the year ended 31 March 2025, ESB Holdings Limited and subsidiaries ("the Group") recorded solid growth, with turnover increasing by 43% compared to the previous year. This growth was mainly driven by continued strong demand from US markets for the Groups main products. The increase in sales also brought higher cost of sales. Despite these increases, the Group achieved improved net margin on profit before tax, demonstrating efficiency in managing resources. The Group continues to invest in the expansion into other worldwide markets for its products.

Principal risks and uncertainties

The directors have identified the following principal risks and uncertainties affecting the Group: Trade barriers: The Group operates across several different trading blocks and the current global variations in tariffs and duty pose risks to the Group. Changing consumer preferences: Shifts in consumer tastes may affect demand for the products produced. New competitors: Entry of additional players into the market could increase competitive pressures in the medium to long term. Regulatory and environmental risk: Products are subject to various regulatory frameworks which must be complied with and can be varied from market to market. The directors consider that these risks are actively monitored and mitigated through Group-level strategies, investment in efficiency, and long-term supplier and customer relationships.

Performance & financial key performance indicators (kpi's)

Management monitors the following indicators: Turnover - £16,633,686 (2024: £11,616,071) Gross Profit - £14,044,568 (2024: £9,656,801) Profit after tax - £10,570,396 (2024: £7,262,277) The Group demonstrated steady revenue growth over the past three years, with Turnover increasing by 43% reaching over £16.6m in 2025. Gross Profit has followed this trend. Profit after tax has not increase at the same rate as a result of the increase in taxation rate in the UK. Overall, the KPIs are largely in line with management expectations, with a positive trend in 2025. Further improvements are expected as operational efficiencies continue to strengthen.

This report was approved by the board of directors on 31 December 2025 and signed on behalf of the board by:

Mr C Smith

Director

ESB (Holdings) Ltd

Directors' Report

Year ended 31 March 2025

The directors present their report and the financial statements of the group for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

Mr M Broughton
Mr C Smith
Mr J Eynon

Dividends

Particulars of recommended dividends are detailed in note 8 to the financial statements.

Future developments

The directors are confident that ESB Holdings Limited and subsidiaries will continue to operate as a Going Concern. ESB Holdings Limited and subsidiaries remain profitable with continued strong demand for its products.

No material subsequent events have occurred since the year-end.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report 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). 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 group and the company and the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.

This report was approved by the board of directors on 31 December 2025 and signed on behalf of the board by:

Mr C Smith

Director

ESB (Holdings) Ltd

Independent Auditor's Report to the Members of ESB (Holdings) Ltd

Year ended 31 March 2025

Opinion

We have audited the financial statements of ESB (Holdings) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated statement of income and retained earnings, company statement of income and retained earnings, consolidated statement of financial position, company statement of financial position, consolidated statement of cash flows and the related notes, 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 FRS 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 group's and of the parent company's affairs as at 31 March 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's or the parent 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company 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 directors' responsibilities statement, 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 is 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the company and industry, we identified that the principal risks of noncompliance with laws and regulations related to health and safety, food hygiene, licencing, employment law and UK Companies Act and we considered the extent to which any non-compliance might have a material effect on the financial statements. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to the posting of fraudulent journal entries and transactions or bias in estimates. Audit procedures performed by the engagement team included: 1) Enquiries with management (including correspondence with legal counsel) regarding their consideration of known or suspected instances of non-compliance with laws and regulation and fraud; 2) Understood the company's policies and controls in relation to the company's compliance with relevant licence requirements; 3) Identifying and testing journal entries, in particular any journal entries posted with certain unusual account combinations, or with unusual descriptions, and 4) Challenging assumptions and judgements made by management in respect of critical accounting judgements and significant accounting estimates; There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. A further description of our responsibilities for the audit of the financial statements is located on the FRC's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Other matters

The corresponding figures for 31 March 2024 are unaudited, we have obtained sufficient audit evidence that the opening balances do not contain any material misstatements that effect the current period financial statements.

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 an auditor's report 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.

Mr Matthew Clements

(Senior Statutory Auditor)

For and on behalf of

Clements Jones

Chartered accountants & statutory auditor

1 Picton Lane

Swansea

SA1 4AF

31 December 2025

ESB (Holdings) Ltd

Consolidated Statement of Income and Retained Earnings

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	16,633,686	11,616,071

Cost of sales	1,751,195	1,149,892
	-------------	-------------
Gross profit	14,882,491	10,466,179

Administrative expenses		837,923	809,378
		-------------	-------------
Operating profit	5	14,044,568	9,656,801

Other interest receivable and similar income	6	52,132	27,737
		-------------	-------------
Profit before taxation		14,096,700	9,684,538

Tax on profit	7	3,526,304	2,422,261
		-------------	------------
Profit for the financial year and total comprehensive income		10,570,396	7,262,277
		-------------	------------

Dividends paid and payable	8	( 8,350,000)	( 3,000,000)

Retained earnings at the start of the year	8,391,996	4,129,719
	-------------	------------
Retained earnings at the end of the year	10,612,392	8,391,996
	-------------	------------

All the activities of the group are from continuing operations.

ESB (Holdings) Ltd

Company Statement of Income and Retained Earnings

Year ended 31 March 2025

		2025	2024
Note		£	£
Profit for the financial year and total comprehensive income		8,437,693	3,141,130
Dividends paid and payable	8	( 8,350,000)	( 3,000,000)

Retained earnings at the start of the year	647,465	506,335
	------------	------------
Retained earnings at the end of the year	735,158	647,465
	------------	------------

ESB (Holdings) Ltd

Consolidated Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	10		783,966	825,708

Current assets

Stocks	12	416,622	161,246
Debtors	13	5,560,444	5,439,597
Cash at bank and in hand		6,560,700	4,012,161
		-------------	------------
		12,537,766	9,613,004

Creditors: amounts falling due within one year	14	2,686,947		2,017,022
		-------------		------------
Net current assets			9,850,819	7,595,982
			-------------	------------
Total assets less current liabilities			10,634,785	8,421,690

Provisions

Taxation including deferred tax	15	22,369	29,670
		-------------	------------
Net assets		10,612,416	8,392,020
		-------------	------------

Capital and reserves

Called up share capital	17	24	24
Profit and loss account		10,612,392	8,391,996
		-------------	------------
Shareholders funds		10,612,416	8,392,020
		-------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 31 December 2025 , and are signed on behalf of the board by:

Mr C Smith

Director

Company registration number: 09320750

ESB (Holdings) Ltd

Company Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Investments	11		26	26

Current assets

Debtors	13	200,000	200,000
Cash at bank and in hand		539,215	449,155
		---------	---------
		739,215	649,155

Creditors: amounts falling due within one year	14	4,059		1,692
		---------		---------
Net current assets			735,156	647,463
			---------	---------
Total assets less current liabilities			735,182	647,489
			---------	---------
Net assets			735,182	647,489
			---------	---------

Capital and reserves

Called up share capital	17	24	24
Profit and loss account		735,158	647,465
		---------	---------
Shareholders funds		735,182	647,489
		---------	---------

The profit for the financial year of the parent company was £ 8,437,693 (2024: £ 3,141,130 ).

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 31 December 2025 , and are signed on behalf of the board by:

Mr C Smith

Director

Company registration number: 09320750

ESB (Holdings) Ltd

Consolidated Statement of Cash Flows

Year ended 31 March 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	10,570,396	7,262,277

Adjustments for:
Depreciation of tangible assets	67,161	65,882
Other interest receivable and similar income	( 52,132)	( 27,737)
Gains on disposal of tangible assets	( 371)	–
Tax on profit	3,526,304	2,422,261
Accrued (income)/expenses	( 19,858)	355,372

Changes in:
Stocks	( 255,376)	62,073
Trade and other debtors	( 120,847)	( 3,207,182)
Trade and other creditors	144,015	247,406
	-------------	------------
Cash generated from operations	13,859,292	7,180,352

Interest received	52,132	27,737
Tax paid	( 2,987,837)	( 1,632,914)
	-------------	------------
Net cash from operating activities	10,923,587	5,575,175
	-------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 26,160)	( 224,422)
Proceeds from sale of tangible assets	1,112	–
	-------------	------------
Net cash used in investing activities	( 25,048)	( 224,422)
	-------------	------------

Cash flows from financing activities

Dividends paid	( 8,350,000)	( 3,000,000)
	-------------	------------
Net cash used in financing activities	( 8,350,000)	( 3,000,000)
	-------------	------------

Net increase in cash and cash equivalents	2,548,539	2,350,753
Cash and cash equivalents at beginning of year	4,012,161	1,661,407
	------------	------------
Cash and cash equivalents at end of year	6,560,700	4,012,160
	------------	------------

ESB (Holdings) Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Creation House, 50-72 Gauntley Street, Nottingham, NG7 5HF, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of ESB (Holdings) Ltd and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website development	-	50% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	20% straight line
Fixtures, fittings and equipment	-	33% straight line
Motor vehicles	-	25% reducing balance

	Equipment	-	33% straight line

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	6,742,285	5,498,230
Overseas goods	9,891,401	6,117,841
	-------------	-------------
	16,633,686	11,616,071
	-------------	-------------

The turnover is attributable to the one principal activity of the group. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2025	2024
	£	£
United Kingdom	6,742,285	5,498,230
Overseas	9,891,401	6,117,841
	-------------	-------------
	16,633,686	11,616,071
	-------------	-------------

5. Operating loss

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	67,161	65,882
Gains on disposal of tangible assets	( 371)	–
Impairment of trade debtors	(2,208)	(2,167)
Foreign exchange differences	173,525	142,130
	---------	---------

6. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	50,556	27,041
Other interest receivable and similar income	1,576	696
	--------	--------
	52,132	27,737
	--------	--------

7. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	3,533,600	2,402,316
Adjustments in respect of prior periods	5	–
	------------	------------
Total current tax	3,533,605	2,402,316
	------------	------------

Deferred tax:

Origination and reversal of timing differences	( 7,301)	19,945
	------------	------------
Tax on profit	3,526,304	2,422,261
	------------	------------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	14,096,700	9,684,538
	-------------	------------
Profit on ordinary activities by rate of tax	3,524,175	2,421,134
Adjustment to tax charge in respect of prior periods	5	–
Effect of expenses not deductible for tax purposes	208	( 2,237)
Effect of capital allowances and depreciation	2,857	3,595
Effect of different UK tax rates on some earnings	(941)	(231)
	-------------	------------
Tax on profit	3,526,304	2,422,261
	-------------	------------

8. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	8,350,000	3,000,000
	------------	------------

9. Intangible assets

Group	Website development
	£
Cost
At 1 April 2024 and 31 March 2025	27,000
	--------
Amortisation
At 1 April 2024 and 31 March 2025	27,000
	--------
Carrying amount
At 1 April 2024 and 31 March 2025	–
	--------
At 31 March 2024	–
	--------

The company has no intangible assets.

10. Tangible assets

Group	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	739,081	24,132	245,487	39,595	43,274	1,091,569
Additions	4,261	17,216	4,491	–	192	26,160
Disposals	–	–	( 1,113)	–	–	( 1,113)
	---------	--------	---------	--------	--------	------------
At 31 Mar 2025	743,342	41,348	248,865	39,595	43,466	1,116,616
	---------	--------	---------	--------	--------	------------
Depreciation
At 1 Apr 2024	14,733	4,826	183,916	27,067	35,319	265,861
Charge for the year	14,867	8,270	36,650	3,132	4,242	67,161
Disposals	–	–	( 372)	–	–	( 372)
	---------	--------	---------	--------	--------	------------
At 31 Mar 2025	29,600	13,096	220,194	30,199	39,561	332,650
	---------	--------	---------	--------	--------	------------
Carrying amount
At 31 Mar 2025	713,742	28,252	28,671	9,396	3,905	783,966
	---------	--------	---------	--------	--------	------------
At 31 Mar 2024	724,348	19,306	61,571	12,528	7,955	825,708
	---------	--------	---------	--------	--------	------------

The company has no tangible assets.

11. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	26
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 1 April 2024 and 31 March 2025	26
	----
At 31 March 2024	26
	----

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
ESB Developments Ltd	Ordinary	100
Strive Creations Ltd	Ordinary	100
Concept Ingredients Ltd	Ordinary	100

12. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Raw materials and consumables	416,622	161,246	–	–
	---------	---------	----	----

13. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	5,040,845	4,866,832	–	–
Prepayments and accrued income	303,336	231,674	–	–
Other debtors	216,263	341,091	200,000	200,000
	------------	------------	---------	---------
	5,560,444	5,439,597	200,000	200,000
	------------	------------	---------	---------

14. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	40,303	169,331	–	–
Accruals and deferred income	378,574	398,432	1,080	960
Corporation tax	1,601,854	1,056,086	2,979	732
Social security and other taxes	426,539	264,649	–	–
Director loan accounts	326	326	–	–
Other creditors	239,351	128,198	–	–
	------------	------------	-------	-------
	2,686,947	2,017,022	4,059	1,692
	------------	------------	-------	-------

15. Provisions

Group	Deferred tax (note 16)
	£
At 1 April 2024	29,670
Additions	( 7,301)
	--------
At 31 March 2025	22,369
	--------

The company does not have any provisions.

16. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 15)	22,369	29,670	–	–
	--------	--------	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	22,369	29,670	22,369	29,670
	--------	--------	--------	--------

17. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary Class A shares of £ 1 each	8	8	8	8
Ordinary Class B shares of £ 1 each	8	8	8	8
Ordinary Class C shares of £ 1 each	8	8	8	8
	----	----	----	----
	24	24	24	24
	----	----	----	----

18. Related party transactions

Company

The company was not under the control of any one party during the current or previous periods. Included in other debtors is a loan, repayable upon demand, of £200,000 (2024 £200,000) to a related party under key management control .