Company registration number 05174535 (England and Wales)
STONEBRIDGE HOLDINGS LIMITED
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2025
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
STONEBRIDGE HOLDINGS LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 10
Group statement of comprehensive income
11
Group balance sheet
12 - 13
Company balance sheet
14 - 15
Group statement of changes in equity
16
Company statement of changes in equity
17
Group statement of cash flows
18
Notes to the financial statements
19 - 39
STONEBRIDGE HOLDINGS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr J Green
Mr L Green
Mr P Green
Ms B M Green
Ms T E Green
Secretary
Mr L Green
Company number
05174535
Registered office
Unit J Howland Business Park
Howland Road
Thame
Oxfordshire
OX9 3GQ
Auditor
Verallo
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
STONEBRIDGE HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 2 -

The directors present the strategic report for the year ended 31 May 2025.

Fair review of the business

The Group continues to operate in an environment of economic uncertainty in the UK and globally, more specifically Slovakia, which has influenced customer demand and purchasing behaviour across its markets. The directors have taken appropriate steps to manage costs, preserve cash resources, and maintain close oversight of the groups financial performance and liquidity.

The Group continued to seek new trading opportunities and implement production efficiencies.

The directors maintain a policy to comply with social responsibilities on environmental issues and employment conditions. Measures to enhance the above policies are monitored and reviewed regularly.

Stonebridge Holdings Limited and its subsidiaries continue to be committed to providing quality products for its customers.

Principal risks and uncertainties

The Group's operations expose it to a variety of financial risks that include the effects of price risk and liquidity risk. The Group has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the Group by monitoring levels of risk.

Given the size of the Group, the responsibility for monitoring the financial risk management lies with the company's Board of Directors.

Price risk

The Group is exposed to commodity price risk to the extent that it impacts the UK economy as a whole. Managing this risk is undertaken as part of managing the other risks considered below.

Liquidity risk

The substantial majority of the Group's borrowings are medium to long term with cash flows being carefully planned and monitored to ensure the Group has sufficient available funds for operations and planned expansion.

Foreign exchange risk

The Group production is done in Slovakia, so many financial transactions are denominated in Euros. The Group is constantly exposed to fluctuations in exchange rates.

STONEBRIDGE HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
Going concern

The directors have reviewed the operations and financial position of the group and company and have a reasonable expectation that the company has adequate resources to continue to adopt the going concern basis of accounting in preparing the financial statements.

Key performance indicators

The Directors assess the performance of the Group using a combination of financial and non-financial Key Performance Indicators which are considered relevant to an understanding of the development, performance, and position of the business.

The decrease in manufacturing activity in Slovakia, together with the partial disposal of a property during the year, were the key factors affecting the business during the year and had an adverse impact on the financial statements, as evidenced by reduced turnover and operating profit.

The Directors believe that the KPIs outlined above provide a meaningful measure of performance during the year and support an informed assessment of the Group’s future prospects.

Brief analysis of these is shown below:

31 May 202 5 31 May 202 4 Variance

Turnover £2,152,755 £2,701,492 -20%

Gross Profit Margin 42% 44% -2%

Net assets £5,948,080 £4,926,717 +21%

On behalf of the board

Mr J Green
Director
STONEBRIDGE HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 May 2025.

Principal activities

The principal activity of the Group is that of preformed plywood manufacture and allied furniture products, specialising in the design & development of seating components.

The principal activity of the company is that of a holding company and property investment company.

Results and dividends

The results for the year are set out on page 11.

Ordinary dividends were paid amounting to £152,329 (2024: £155,963). The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J Green
Mr L Green
Mr P Green
Ms B M Green
Ms T E Green
Auditor

The auditor, Verallo, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

STONEBRIDGE HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
Statement of directors' responsibilities

The directors are responsible for preparing the Annual 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 company, 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;

- state whether applicable UK 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the G roup’s and C ompany’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 G roup and C ompany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report

The group true has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Mr J Green
Director
17 February 2026
STONEBRIDGE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STONEBRIDGE HOLDINGS LIMITED
- 6 -
Opinion

We have audited the financial statements of Stonebridge Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 202 5, which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and 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 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 the parent company's affairs as at 31 May 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; 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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.

STONEBRIDGE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STONEBRIDGE HOLDINGS LIMITED
- 7 -

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 contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport 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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport. 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' r esponsibilities s tatement, 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

STONEBRIDGE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STONEBRIDGE HOLDINGS LIMITED
- 8 -
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, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- identify and assess the risks of material misstatement of the entity’s 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 entity’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 entity’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 company to cease to continue as a going concern; and

- 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 (i.e. gives a true and fair view).

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.

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

STONEBRIDGE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STONEBRIDGE HOLDINGS LIMITED
- 9 -

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), 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;

- We considered the procedures and controls that the compan ies ha ve established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

STONEBRIDGE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF STONEBRIDGE HOLDINGS LIMITED
- 10 -

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.

Michelle Hewitt-Dutton FCCA (Senior Statutory Auditor)
For and on behalf of Verallo
Statutory Auditor
Office: Henley-on-Thames
20 February 2026
STONEBRIDGE HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2025
- 11 -
2025
2024
Notes
£
£
Turnover
3
2,152,755
2,701,492
Cost of sales
(1,248,617)
(1,517,763)
Gross profit
904,138
1,183,729
Administrative expenses
(1,249,565)
(1,462,817)
Other operating income
495,921
655,543
Operating profit
4
150,494
376,455
Interest receivable and similar income
8
9,013
11,448
Interest payable and similar expenses
9
(82,965)
(101,937)
Fair value gains and losses on investment properties
13
950,000
-
0
Profit before taxation
1,026,542
285,966
Tax on profit
10
132,026
(74,079)
Profit for the financial year
1,158,568
211,887
Other comprehensive income
Currency translation differences
15,124
(2,361)
Total comprehensive income for the year
1,173,692
209,526
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The notes on pages 19 to 39 form part of these financial statements
STONEBRIDGE HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
1,036,480
1,085,189
Investment properties
13
3,825,000
4,150,000
4,861,480
5,235,189
Current assets
Stocks
17
700,801
713,724
Debtors
18
566,633
507,287
Cash at bank and in hand
1,127,562
961,260
2,394,996
2,182,271
Creditors: amounts falling due within one year
19
(1,223,949)
(1,473,006)
Net current assets
1,171,047
709,265
Total assets less current liabilities
6,032,527
5,944,454
Creditors: amounts falling due after more than one year
20
(96,708)
(681,281)
Provisions for liabilities
22
12,261
(336,456)
Net assets
5,948,080
4,926,717
Capital and reserves
Called up share capital
25
1,333
1,333
Capital redemption reserve
667
667
Profit and loss reserves
5,946,080
4,924,717
Total equity
5,948,080
4,926,717
STONEBRIDGE HOLDINGS LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2025
31 May 2025
- 13 -
The financial statements were approved by the board of directors and authorised for issue on 17 February 2026 and are signed on its behalf by:
17 February 2026
Mr J Green
Director
Company Registration No. 05174535
The notes on pages 19 to 39 form part of these financial statements
STONEBRIDGE HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 MAY 2025
31 May 2025
- 14 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
890,808
928,336
Investment properties
13
3,825,000
4,150,000
Investments
14
4,624
4,624
4,720,432
5,082,960
Current assets
Debtors
18
1,336,498
1,253,832
Cash at bank and in hand
929,935
847,348
2,266,433
2,101,180
Creditors: amounts falling due within one year
19
(1,704,483)
(2,059,988)
Net current assets
561,950
41,192
Total assets less current liabilities
5,282,382
5,124,152
Creditors: amounts falling due after more than one year
20
-
0
(515,904)
Provisions for liabilities
22
12,261
(336,456)
Net assets
5,294,643
4,271,792
Capital and reserves
Called up share capital
25
1,333
1,333
Capital redemption reserve
667
667
Profit and loss reserves
5,292,643
4,269,792
Total equity
5,294,643
4,271,792

As permitted by s408 Companies Act 2006, the Company has not presented its own profit and loss account and related notes. The Company’s profit for the year was £1,175,180 (2024: £174,002 profit).

STONEBRIDGE HOLDINGS LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2025
31 May 2025
- 15 -
The financial statements were approved by the board of directors and authorised for issue on 17 February 2026 and are signed on its behalf by:
17 February 2026
Mr J Green
Director
Company Registration No. 05174535
The notes on pages 19 to 39 form part of these financial statements
STONEBRIDGE HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 16 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 June 2023
1,333
667
4,871,154
4,873,154
Year ended 31 May 2024:
Profit for the year
-
-
211,887
211,887
Other comprehensive income:
Currency translation differences
-
-
(2,361)
(2,361)
Total comprehensive income for the year
-
-
209,526
209,526
Dividends
11
-
-
(155,963)
(155,963)
Balance at 31 May 2024
1,333
667
4,924,717
4,926,717
Year ended 31 May 2025:
Profit for the year
-
-
1,158,568
1,158,568
Other comprehensive income:
Currency translation differences
-
-
15,124
15,124
Total comprehensive income for the year
-
-
1,173,692
1,173,692
Dividends
11
-
-
(152,329)
(152,329)
Balance at 31 May 2025
1,333
667
5,946,080
5,948,080
The notes on pages 19 to 39 form part of these financial statements
STONEBRIDGE HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 17 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 June 2023
1,333
667
4,251,753
4,253,753
Year ended 31 May 2024:
Profit and total comprehensive income for the year
-
-
174,002
174,002
Dividends
11
-
-
(155,963)
(155,963)
Balance at 31 May 2024
1,333
667
4,269,792
4,271,792
Year ended 31 May 2025:
Profit and total comprehensive income for the year
-
-
1,175,180
1,175,180
Dividends
11
-
-
(152,329)
(152,329)
Balance at 31 May 2025
1,333
667
5,292,643
5,294,643
The notes on pages 19 to 39 form part of these financial statements
STONEBRIDGE HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2025
- 18 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
31
354,001
876,585
Interest paid
(82,965)
(101,937)
Income taxes paid
(44,466)
(98,770)
Net cash inflow from operating activities
226,570
675,878
Investing activities
Purchase of tangible fixed assets
(32,325)
(41,877)
Proceeds from disposal of tangible fixed assets
(14,420)
-
Proceeds from disposal of investment property
1,275,000
-
Interest received
9,013
11,448
Net cash generated from/(used in) investing activities
1,237,268
(30,429)
Financing activities
Repayment of borrowings
(308,608)
(73,295)
Repayment of bank loans
(851,723)
(336,948)
Dividends paid to equity shareholders
(152,329)
(155,963)
Net cash used in financing activities
(1,312,660)
(566,206)
Net increase in cash and cash equivalents
151,178
79,243
Cash and cash equivalents at beginning of year
961,260
884,378
Effect of foreign exchange rates
15,124
(2,361)
Cash and cash equivalents at end of year
1,127,562
961,260
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 19 -
1
Accounting policies
Company information

Stonebridge Holdings Limited (05174535) (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit J Howland Business Park, Howland Road, Thame, Oxfordshire, OX9 3GQ.

The group consists of Stonebridge Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 20 -
1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Stonebridge Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 May 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence, and will be able to meet its liabilities as they fall due, for a period of at least twelve months from the date of approval of the financial statements.

1.4
Turnover

Turnover i s recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured and when goods are dispatched. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the Group has transferred the significant risks and rewards of ownership to the buyer;

- the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the Group will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Lessor Income

Rentals paid under operating leases are charged to the profit and loss on a straight line basis over the lease term.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 21 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
buildings 2% on cost
Plant and equipment
20% straight line
Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Land is not subject to depreciation.

1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Property rented to a group entity is accounted for as a tangible fixed assets.

1.7
Fixed asset investments

Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 22 -
1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 23 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 24 -
1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.18
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2
Judgements and key sources of estimation uncertainty

In the application of the G roup’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 25 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investment Property valuation

The valuation of the investment property portfolio is determined in accordance with the directors. Investment properties are measured at fair value, based on active market prices, adjusted if necessary for length of lease remaining.

Current economic developments and uncertainties influence the valuation of investment properties.

Dilapidation provision

In the prior year, the directors recognised a provision of £177,849 for the expected costs of remedial works to the investment property, based on the best information available at that time. During the current year, the required repairs were completed at a total cost of £248,576. As all remedial work has now been finalised and no further expenditure is anticipated, the provision has been fully utilised and no remaining provision is required at the year end.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Principal activity
2,152,755
2,701,492
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
2,149,249
2,697,031
Rest of Europe
3,506
4,461
2,152,755
2,701,492
2025
2024
£
£
Other revenue
Interest income
9,013
11,448
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 26 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging:
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
9,722
5,012
Depreciation of owned tangible fixed assets
95,454
104,022
(Profit)/loss on disposal of tangible fixed assets
-
639
Operating lease charges
115,804
75,979
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
9,500
13,975
Audit of the financial statements of the company's subsidiaries
9,950
13,450
19,450
27,425
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Production
43
52
-
-
Administration & Management
8
5
3
3
Total
51
57
3
3
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
6
Employees
(Continued)
- 27 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
935,961
1,092,802
108,207
38,159
Social security costs
31,911
48,669
10,326
2,390
Pension costs
7,675
213,639
-
0
200,000
975,547
1,355,110
118,533
240,549
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
108,207
38,159
Company pension contributions to defined contribution schemes
-
200,000
108,207
238,159
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
n/a
10,831
Company pension contributions to defined contribution schemes
n/a
100,000

During the year retirement benefits were accruing to 5 directors (20 2 4 - 5) in respect of defined contribution pension schemes.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 28 -
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
8,954
11,426
Other interest income
59
22
Total income
9,013
11,448

Investment income includes the following:

Interest on financial assets not measured at fair value through profit or loss
8,954
11,426
9
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
82,965
101,937
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
38,842
74,744
Deferred tax
Origination and reversal of timing differences
(170,868)
(665)
Total tax (credit)/charge
(132,026)
74,079
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
10
Taxation
(Continued)
- 29 -

The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,026,542
285,966
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
256,636
71,492
Tax effect of expenses that are not deductible in determining taxable profit
14,417
51,161
Unutilised tax losses carried forward
-
0
(43,985)
Effect of change in corporation tax rate
-
(312)
Group relief
(2,150)
-
0
Foreign exchange differences
-
0
(4,277)
Release of deferred tax liability
(163,429)
-
0
Permanent difference - non taxable fair value gain
(237,500)
-
0
Taxation (credit)/charge
(132,026)
74,079
11
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
152,329
155,963
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 30 -
12
Tangible fixed assets
Group
Freehold property
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 June 2024
1,126,683
1,717,838
297,119
3,141,640
Additions
-
0
29,868
2,457
32,325
Disposals
-
0
(140,028)
(4,674)
(144,702)
At 31 May 2025
1,126,683
1,607,678
294,902
3,029,263
Depreciation and impairment
At 1 June 2024
222,242
1,568,291
265,918
2,056,451
Depreciation charged in the year
22,848
56,694
15,912
95,454
Eliminated in respect of disposals
-
0
(159,122)
-
0
(159,122)
At 31 May 2025
245,090
1,465,863
281,830
1,992,783
Carrying amount
At 31 May 2025
881,593
141,815
13,072
1,036,480
At 31 May 2024
904,441
149,547
31,201
1,085,189
Company
Freehold property
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 June 2024
1,269,392
1,354,679
259,517
2,883,588
Disposals
-
0
(140,028)
-
0
(140,028)
At 31 May 2025
1,269,392
1,214,651
259,517
2,743,560
Depreciation and impairment
At 1 June 2024
364,951
1,354,679
235,622
1,955,252
Depreciation charged in the year
22,848
-
0
14,680
37,528
Eliminated in respect of disposals
-
0
(140,028)
-
0
(140,028)
At 31 May 2025
387,799
1,214,651
250,302
1,852,752
Carrying amount
At 31 May 2025
881,593
-
0
9,215
890,808
At 31 May 2024
904,441
-
0
23,895
928,336
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
12
Tangible fixed assets
(Continued)
- 31 -

All of the group's assets, including property, plant and equipment with a carrying amount of £890,808 (2024 - £928,336) have been pledged to secure borrowings of the company.

13
Investment property
Group
Company
2025
2025
£
£
Fair value
At 1 June 2024
4,150,000
4,150,000
Disposals
(1,275,000)
(1,275,000)
Net gains or losses through fair value adjustments
950,000
950,000
At 31 May 2025
3,825,000
3,825,000

During the year, the company engaged an external, independent valuer to determine the fair value of the investment property. As at January 2025, the fair value of the investment property increased by £950,000, which has been recognised through the fair value reserve.

Subsequent to the revaluation, the company disposed of a portion of the investment property to a related party. The disposal represented 25% of the property, being £1,275,000.

The historic cost of the investment property at the year end is £3,206,678 (2024 - £4,275,570).

14
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
4,624
4,624
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 June 2024 and 31 May 2025
4,624
Carrying amount
At 31 May 2025
4,624
At 31 May 2024
4,624
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 32 -
15
Subsidiaries

Details of the company's subsidiaries at 31 May 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
Stonebridge UK Limited
*1
Furniture manufacturer
Ordinary
100
Stonebridge S.R.O
*2
Manufacturer of furniture components
Ordinary
100

Registered office addresses:

*1
Unit J, Howland Business Park, Howland Rd, Thame, Oxfordshire, OX9 3GQ, UK
*2
Stonebridge SK, Hlinne 403, 094 35 Sol, Slovakia
16
Financial instruments
Group
Company
2025
2024
2025
2024
£
£
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
439,365
355,754
n/a
n/a
Carrying amount of financial liabilities
Measured at amortised cost
860,222
1,918,662
n/a
n/a

As permitted by the reduced disclosure framework within FRS 102, the company has taken advantage of the exemption from disclosing the carrying amount of certain classes of financial instruments, denoted by 'n/a' above.

17
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
11,424
98,518
-
-
Work in progress
5,096
-
-
-
Finished goods and goods for resale
684,281
615,206
-
0
-
0
700,801
713,724
-
-
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 33 -
18
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
324,909
341,686
-
0
-
0
Amounts owed by group undertakings
-
-
1,191,602
1,191,602
Other debtors
139,397
45,407
111,970
20,303
Prepayments and accrued income
102,327
120,194
32,926
41,927
566,633
507,287
1,336,498
1,253,832

At the year end the company was owed £1,191,602 (2024: £1,191,602) by a direct subsidiary. The loan is interest-free and repayable on demand.

19
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
21
40,000
307,150
-
0
267,150
Other borrowings
21
-
0
308,608
-
0
-
0
Trade creditors
116,398
108,540
42,198
27,948
Amounts owed to group undertakings
-
0
-
0
873,320
1,375,268
Corporation tax payable
70,657
76,281
70,657
71,230
Other taxation and social security
389,778
159,344
255,110
-
Other creditors
495,625
377,890
401,718
260,933
Accruals and deferred income
111,491
135,193
61,480
57,459
1,223,949
1,473,006
1,704,483
2,059,988

During the year, a clause was evoked by a company under common control, to request payment of the £308,608 loan held at 31 May 2024. Repayment was made in line with the request.

At the year end the company owed a direct subsidiary £873,320 (2024: £1,375,268). The loan is interest-free and repayable on demand.

20
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
21
96,708
681,281
-
0
515,904
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 34 -
21
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
136,708
988,431
-
0
783,054
Loans from related parties
-
0
308,608
-
0
-
0
136,708
1,297,039
-
783,054
Payable within one year
40,000
615,758
-
0
267,150
Payable after one year
96,708
681,281
-
0
515,904

A Coronavirus Business Interruption Loan was obtained on 31 October 2020 a nd is repayable in instalments by 31 October 2026. Repayment commenced on 31 October 2020. Interest for the first year is supported by the government, thereafter interest is charged at a floating rate basis, under which the interest rate is never less than 3.39% per annum. The loan is secured by way of a legal charge over the group's assets.

A group company obtained a €230,000 loan from VUB Banka. The loan is repayable in instalments ending 20 March 2028, and interest is charged at a floating rate of 2.70% above the EURIBOR rate per annum. The loan is guaranteed by Stonebridge Holdings Limited.

22
Provisions for liabilities
Group
Company
2025
2024
2025
2024
£
£
£
£
Dilapidations
-
177,849
-
177,849
Movements on provisions:
Dilapidations
Group
£
At 1 June 2024
177,849
Reversal of provision
(177,849)
At 31 May 2025
-
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
22
Provisions for liabilities
(Continued)
- 35 -
Company
£
At 1 June 2024
177,849
Reversal of provision
(177,849)
At 31 May 2025
-

Stonebridge Holdings Limited has provided a sum of £nil (2024: £177,849) in relation to the dilapidation work required to its investment property at Bicester. This is based on the estimated costs to repair the premises.

23
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
(12,261)
(4,157)
Investment property
-
162,764
(12,261)
158,607
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
(12,261)
(4,157)
Investment property
-
162,764
(12,261)
158,607
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
23
Deferred taxation
(Continued)
- 36 -
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 June 2024
158,607
158,607
Credit to profit or loss
(170,868)
(170,868)
Asset at 31 May 2025
(12,261)
(12,261)
24
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
7,675
213,639

The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. At the balance sheet date, unpaid contributions of £1,493 (2024 - £3,450) were due to the fund and have been included within creditors.

25
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,333
1,333
1,333
1,333

The Ordinary shares have attached to them full rights to voting, dividend and capital distribution.

On the 18 March 2019 the company agreed a share redemption of 666 ordinary shares of £1 each for the sum of £560,000 thus giving a premium of £839.84 per share.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 37 -
26
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
47,684
56,300
-
-
Between two and five years
-
35,188
-
-
47,684
91,488
-
-
27
Directors' transactions

Dividends totalling £152,329 (2024: £155,963) were paid in the year in respect of shares held by the company's directors.

STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 38 -
28
Related party transactions

The company has taken advantage of the exemption allowed under FRS 102 s33. 1A not to disclose transactions with other wholly owned members of the group.

During the year the group entered into transactions totalling £61,354 (2024: £56,300) with a company under common control. At the year end the company owed the related party £108,720 (2024: £5,630).

During the year, the group repaid £308,608 to an entity under common control. Interest of £36,141 was paid during the year.

Group

At the balance sheet date the group owed the directors of the company £113,471 (2024: £29,953). The amounts are unsecured, interest-free and repayable on demand.

Company

The company has taken advantage of the exemption available in Financial Reporting Standard 102, whereby it has not disclosed transactions with any wholly owned subsidiary undertakings.

At the balance sheet date the company owed £105,382 (2024: £26,087) to the directors of the company. The amounts are unsecured, interest-free and repayable on demand.

29
Controlling party

In the opinion of the directors, there is no individual ultimate controlling party.

30
Analysis of changes in net funds/(debt) - group
1 June 2024
Cash flows
Exchange rate movements
31 May 2025
£
£
£
£
Cash at bank and in hand
961,260
151,178
15,124
1,127,562
Borrowings excluding overdrafts
(1,297,039)
1,160,331
-
(136,708)
(335,779)
1,311,509
15,124
990,854
STONEBRIDGE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 39 -
31
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
1,158,568
211,887
Adjustments for:
Taxation (credited)/charged
(132,026)
74,079
Finance costs
82,965
101,937
Investment income
(9,013)
(11,448)
(Gain)/loss on disposal of tangible fixed assets
-
639
Fair value gain on investment properties
(950,000)
-
0
Depreciation and impairment of tangible fixed assets
95,454
104,022
Decrease in provisions
(177,849)
(236,151)
Movements in working capital:
Decrease in stocks
12,923
82,418
(Increase)/decrease in debtors
(59,346)
484,700
Increase in creditors
332,325
64,502
Cash generated from operations
354,001
876,585
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