REGISTERED NUMBER: 15609782 (England and Wales)

EBW Holdings Limited

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Period 2 April 2024 to 30 April 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Income Statement

7

Consolidated Other Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

P B Burns

A W Weeds

G P Mclean

R A Davies

REGISTERED OFFICE:

Westgate

Aldridge

Walsall

West Midlands

WS9 8DJ

REGISTERED NUMBER:

15609782 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

The directors present their strategic report of the company and the group for the period 2 April 2024 to 30 April 2025.

REVIEW OF BUSINESS

Following the successful MBO in June 2024, the new management team has continued to strengthen and build upon previous years.

PRINCIPAL RISKS AND UNCERTAINTIES

The group seeks to manage the uncertainty of future revenue streams by focusing on market leading service and maintaining strong relationships with key customers.

The group seeks to mitigate the effects of volatile metal prices by buying and forward selling against average prices reported.

The principal credit risk arises from trade debtors and is managed by credit referencing and robust procedures for the collection of monies due to the company.

KEY PERFORMANCE INDICATORS

Year ended

30 April 2025

Gross margin

23.3%

ON BEHALF OF THE BOARD:

P B Burns - Director

28 October 2025

The directors present their report with the financial statements of the company and the group for the period 2 April 2024 to 30 April 2025.

INCORPORATION

The group was incorporated on 2 April 2024 .

PRINCIPAL ACTIVITY

The principal activity of the company is that of management of the group companies. The principal activity of the subsidiary companies continues to be that of steel, aluminium and steel tube stockholding, metal fabrication, bathroom and roofing material supplies.

DIVIDENDS

No dividends will be distributed for the period ended 30 April 2025.

DIRECTORS

The directors who have held office during the period from 2 April 2024 to the date of this report are as follows:

P B Burns - appointed 2 April 2024

A W Weeds - appointed 11 June 2024

G P Mclean - appointed 11 June 2024

R A Davies - appointed 11 June 2024

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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). 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 the group and of 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 judgements 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P B Burns - Director

28 October 2025

Opinion

We have audited the financial statements of EBW Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 April 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 April 2025 and of the group's profit for the period 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 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 and 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 directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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 Statement of Directors' Responsibilities set out on page three, 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 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.

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 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.

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

- we identified areas of laws and regulations that could reasonably be expected to have a material effect on the

financial statements from our general commercial and sector experience, and through discussion with the directors

and other management (as required by auditing standards), and discussed with the directors and other

management the policies and procedures regarding compliance with laws and regulations;

- we considered the legal and regulatory frameworks directly applicable to the financial statements reporting

framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- we considered the nature of the industry, the control environment and business performance, including the key

drivers for management’s remuneration;

- we communicated identified laws and regulations throughout our team and remained alert to any indications of

non-compliance throughout the audit, also all areas where fraud might occur in the financial statements and how;

- we considered the procedures and controls that the company has established to address risks identified, or that

otherwise prevent, deter and detect fraud; and how senior management monitors these programmes and controls;

- we considered how the directors and management respond to risks of fraud and whether they have knowledge of

any actual, suspected or alleged fraud;

- we performed detailed analytical procedures to identify and unusual or unexpected relationships that may indicate

risks of material misstatement due to fraud;

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the 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, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all 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.

Darren Barlow FCCA (Senior Statutory Auditor)

for and on behalf of TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

28 October 2025

TURNOVER

3

18,941,600

Cost of sales

14,523,995

GROSS PROFIT

4,417,605

Administrative expenses

3,837,667

579,938

Other operating income

15,130

OPERATING PROFIT

5

595,068

Interest receivable and similar income

4,112

599,180

Amounts written off investments

6

15,000

584,180

Interest payable and similar expenses

7

186,096

PROFIT BEFORE TAXATION

398,084

Tax on profit

8

157,442

PROFIT FOR THE FINANCIAL PERIOD

240,642

Profit attributable to:

Owners of the parent

240,642

PROFIT FOR THE PERIOD

240,642

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

240,642

Total comprehensive income attributable to:

Owners of the parent

240,642

FIXED ASSETS

Intangible assets

10

1,718,303

Tangible assets

11

1,211,797

Investments

12

-

2,930,100

CURRENT ASSETS

Stocks

13

2,415,300

Debtors

14

4,494,331

Cash at bank and in hand

465,685

7,375,316

CREDITORS

Amounts falling due within one year

15

6,615,252

NET CURRENT ASSETS

760,064

TOTAL ASSETS LESS CURRENT LIABILITIES

3,690,164

CREDITORS

Amounts falling due after more than one year

16

(3,129,186

)

PROVISIONS FOR LIABILITIES

19

(220,336

)

NET ASSETS

340,642

CAPITAL AND RESERVES

Called up share capital

20

1,000

Share premium

21

99,000

Retained earnings

21

240,642

SHAREHOLDERS' FUNDS

340,642

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2025 and were signed on its behalf by:

P B Burns - Director

FIXED ASSETS

Intangible assets

10

-

Tangible assets

11

-

Investments

12

3,000,000

3,000,000

CURRENT ASSETS

Debtors

14

1,919

Cash at bank

265,693

267,612

CREDITORS

Amounts falling due within one year

15

1,130,600

NET CURRENT LIABILITIES

(862,988

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,137,012

CREDITORS

Amounts falling due after more than one year

16

2,035,699

NET ASSETS

101,313

CAPITAL AND RESERVES

Called up share capital

20

1,000

Share premium

21

99,000

Retained earnings

21

1,313

SHAREHOLDERS' FUNDS

101,313

Company's profit for the financial year

1,313

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2025 and were signed on its behalf by:

P B Burns - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Changes in equity

Issue of share capital

1,000

-

99,000

100,000

Total comprehensive income

-

240,642

-

240,642

Balance at 30 April 2025

1,000

240,642

99,000

340,642

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Changes in equity

Issue of share capital

1,000

-

99,000

100,000

Total comprehensive income

-

1,313

-

1,313

Balance at 30 April 2025

1,000

1,313

99,000

101,313

Cash flows from operating activities

Cash generated from operations

1

845,497

Interest paid

(184,937

)

Interest element of hire purchase or finance lease rental payments paid

(1,159

)

Tax paid

(1

)

Net cash from operating activities

659,400

Cash flows from investing activities

Purchase of tangible fixed assets

(99,328

)

Sale of tangible fixed assets

1,500

Acquisition of subsidiaries

(581,535

)

Interest received

4,112

Net cash from investing activities

(675,251

)

Cash flows from financing activities

New loans in year (close finance)

1,764,482

Loan repayments in year

(1,153,785

)

Vendor loan repayments in year

(110,000

)

Capital repayments in year

(79,161

)

Amount introduced by directors

12,000

Proceeds from issue of shares

48,000

Net cash from financing activities

481,536

Increase in cash and cash equivalents

465,685

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

465,685

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

£

Profit before taxation

398,084

Depreciation charges

455,375

Profit on disposal of fixed assets

(619

)

Amounts written off investments

15,000

Government grants

(6,880

)

Finance costs

186,096

Finance income

(4,112

)

1,042,944

Decrease in stocks

242,716

Increase in trade and other debtors

(1,329,115

)

Increase in trade and other creditors

888,952

Cash generated from operations

845,497

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 April 2025

30.4.25

2.4.24

£

£

Cash and cash equivalents

465,685

-

3.	ANALYSIS OF CHANGES IN NET DEBT

At 2.4.24

Cash flow

At 30.4.25

£

£

£

Net cash

Cash at bank and in hand

-

465,685

465,685

-

465,685

465,685

Debt

Debts falling due within 1 year

-

(464,250

)

(464,250

)

Debts falling due after 1 year

-

(3,129,186

)

(3,129,186

)

-

(3,593,436

)

(3,593,436

)

Total

-

(3,127,751

)

(3,127,751

)

1.	STATUTORY INFORMATION

EBW Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The consolidated profit and loss account and balance sheet include the financial statements of the company and its subsidiary undertakings made up to 30 April 2025. Where there are minority interests in subsidiary undertakings, only the group's share of post acquisition profits are reflected in the financial statements. The results of subsidiaries sold or acquired are included in the profit and loss account up to, or from the date control passes. Intra-group sales and profits are eliminated fully on consolidation.

Significant judgements and estimates

The group makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the group's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the group either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

- A provision is recognised when the group has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

- Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

- Depreciation and residual values. Management have reviewed the asset lives and associated residual values of all fixed asset classes and concluded that they are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Product sales are recognised upon despatch of goods, rental income is recognised monthly in advance and management charges are recognised and invoiced monthly in arrears.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2025, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost and 10% on cost

Fixtures and fittings

-

20% on cost and 10% on cost

Motor vehicles

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

£

United Kingdom

16,858,024

Europe

93,761

Rest of World

1,989,815

18,941,600

4.	EMPLOYEES AND DIRECTORS

£

Wages and salaries

2,670,125

Social security costs

5,129

Other pension costs

115,492

2,790,746

The average number of employees during the period was as follows:

Production

24

Sales and distribution

13

Management and administration

22

59

£

Directors' remuneration

368,314

Directors' pension contributions to money purchase schemes

26,915

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

4

Information regarding the highest paid director is as follows:

£

Emoluments etc

132,876

Pension contributions to money purchase schemes

7,508

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

£

Other operating leases

434,500

Depreciation - owned assets

264,451

Profit on disposal of fixed assets

(619

)

Goodwill amortisation

190,923

Auditors' remuneration

40,537

6.

AMOUNTS WRITTEN OFF INVESTMENTS

£

Amounts w/o invs

15,000

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

£

Bank interest

146,760

Interest payable

38,177

Hire purchase

1,159

186,096

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

£

Current tax:

UK corporation tax

123,994

Deferred tax

33,448

Tax on profit

157,442

Reconciliation of total tax charge included in profit and loss

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

£

Profit before tax

398,084

Profit multiplied by the standard rate of corporation tax in the UK of 25 %

99,521

Effects of:

Expenses not deductible for tax purposes

56,415

Depreciation in excess of capital allowances

1,506

Total tax charge

157,442

9.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

10.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

Additions

1,909,226

At 30 April 2025

1,909,226

AMORTISATION

Amortisation for period

190,923

At 30 April 2025

190,923

NET BOOK VALUE

At 30 April 2025

1,718,303