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REGISTERED NUMBER: 05965100 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 May 2025

for

Premier P. Ltd

Premier P. Ltd (Registered number: 05965100)

Contents of the Financial Statements

for the Year Ended 31 May 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditor | 6 |

Income Statement | 10 |

Other Comprehensive Income | 11 |

Statement of Financial Position | 12 |

Statement of Changes in Equity | 13 |

Statement of Cash Flows | 14 |

Notes to the Statement of Cash Flows | 15 |

Notes to the Financial Statements | 16 |

Premier P. Ltd

Company Information

for the Year Ended 31 May 2025

| DIRECTORS: | J P Yarnell

| Mrs D D Yarnell

| SECRETARY: | Mrs D D Yarnell

| REGISTERED OFFICE: | Unit 5 Borman

| Apollo Lichfield Road Industrial Estate

| Tamworth

| United Kingdom

| B79 7TA

| REGISTERED NUMBER: | 05965100 (England and Wales)

| AUDITOR: | Groucott Moor Limited

| Lombard House

| Cross Keys

| Lichfield

| Staffordshire

| WS13 6DN

Premier P. Ltd (Registered number: 05965100)

Strategic Report

for the Year Ended 31 May 2025

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

Premier P Ltd, trading as Vanilla Underground, is a leading provider of licensed merchandise, specialising in the design, manufacturing, and global distribution of high-quality products. The company has established itself as a key player in the industry, catering to diverse customer segments through multiple e-commerce platforms.

Our product portfolio appeals to the entire family-from toddlers to grandparents-offering a wide range of clothing, nightwear, and homeware. This broad market reach ensures our brand remains inclusive, accessible, and relevant to all generations.

Vanilla Underground operates within the global e-commerce space, focusing on efficiency in logistics, cost management, and customer satisfaction. Our strategic approach involves securing high-value brand licences and developing products that align with evolving consumer preferences. This commitment to innovation and market responsiveness has driven sustained growth and stability.

Vanilla Underground is committed to fostering an inclusive work environment, embracing diversity at all levels of the business. Our workforce represents a range of backgrounds, cultures, and experiences, enabling us to better serve our diverse customer base. Additionally, our product offerings reflect this commitment, ensuring accessibility and appeal to individuals of all ages and interests.

Looking ahead, Vanilla Underground remains focused on strategic expansion and innovation. Key initiatives include:

- Expanding into New Marketplaces: Strengthening our presence on emerging e-commerce platforms and global retail channels.

- Enhancing Customer Experience: Investing in technology and service improvements to optimise the shopping experience across all platforms.

- Sustainable Growth Strategies: Maintaining financial prudence while pursuing long-term expansion opportunities.

Through our continued commitment to excellence, efficiency, and inclusivity, Vanilla Underground is well-positioned for sustained success in an increasingly competitive global landscape.

REVIEW OF BUSINESS

The company has demonstrated stable and consistent growth, supported by a strong balance sheet and healthy profitability. Our strategic focus on operational efficiency has resulted in sustainable profit margins despite broader economic challenges. Through financial oversight and prudent risk management, we have strengthened our resilience in an evolving marketplace.

Key Financial Highlights:

- Revenue Growth: Continued expansion in international markets, particularly across the UK, EU, and North America.

- Profitability: Strong margins reflecting disciplined cost management and supply chain optimisation.

- Investment in Technology: Implementation of an improved ERP system to enhance financial reporting and operational efficiencies.

Premier P. Ltd (Registered number: 05965100)

Strategic Report

for the Year Ended 31 May 2025

PRINCIPAL RISKS AND UNCERTAINTIES

Like all businesses operating in a dynamic global market, we continuously assess and manage risks to safeguard our long-term sustainability. Key risks include:

- Economic and Market Conditions: Inflation, geopolitical instability, and changing consumer spending habits impact demand and supply chain efficiency.

- Operational Risks: We prioritise robust IT infrastructure, fraud prevention measures, and contingency planning to mitigate potential disruptions.

- Stock and Supply Chain Management: Careful inventory monitoring ensures alignment with market demand, reducing exposure to overstocking and obsolescence.

FINANCIAL KEY PERFORMING INDICATORS

During the year, The turnover was £30,188,121 (2024 £26,112,688). Operating profit was £2,448,804 (2024 £3,037,166). The directors consider these to be the key performance indicators.

Net assets at the year end were £12,782,846 (2024 £10,932,031) the board are satisfied with the company's financial position.

ON BEHALF OF THE BOARD:

J P Yarnell - Director

31 October 2025

Premier P. Ltd (Registered number: 05965100)

Report of the Directors

for the Year Ended 31 May 2025

The directors present their report with the financial statements of the company for the year ended 31 May 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of retail clothes sales.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of 635 per share.

The total distribution of dividends for the year ended 31 May 2025 will be £ 63,490 .

DIRECTORS

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

J P Yarnell

Mrs D D Yarnell

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

- | select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

Premier P. Ltd (Registered number: 05965100)

Report of the Directors

for the Year Ended 31 May 2025

AUDITOR

The auditor, Groucott Moor Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J P Yarnell - Director

31 October 2025

Report of the Independent Auditor to the Members of

Premier P. Ltd

Opinion

I have audited the financial statements of Premier P. Ltd (the 'company') for the year ended 31 May 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In my opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

Other information

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

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

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

Report of the Independent Auditor to the Members of

Premier P. Ltd

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which I am required to report by exception

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

I have nothing to report in respect of the following matters where the Companies Act 2006 requires me to report to you if, in my opinion:

- | adequate accounting records have not been kept, or returns adequate for my audit have not been received from branches not visited by me; or

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

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

- | I have not received all the information and explanations I require for my audit.

Responsibilities of directors

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

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

Report of the Independent Auditor to the Members of

Premier P. Ltd

Auditor's responsibilities for the audit of the financial statements

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

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

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- results of our enquiries of management about their own identification and assessment of the risks and irregularities

- any matters we identified having obtained an understanding of the company policies and procedures relating to identifying, evaluating and complying with laws and regulations and whether they are aware of any instances of non-compliance

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud

- the internal controls set up to mitigate risks of fraud or non-compliance with laws and regulations

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

- obtaining an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements, including UK Companies Act 2006, pensions and tax legislation

- provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements

- enquiring of management concerning actual and potential legal action and claims

- carrying out analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

- considering performance targets and their influence on efforts made by management to manage earnings

Report of the Independent Auditor to the Members of

Premier P. Ltd

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of my 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 my Report of the Auditor.

Use of my 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. My audit work has been undertaken so that I might state to the company's members those matters I am required to state to them in a Report of the Auditor and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's members as a body, for my audit work, for this report, or for the opinions I have formed.

Andrew Groucott (Senior Statutory Auditor)

for and on behalf of Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

31 October 2025

Premier P. Ltd (Registered number: 05965100)

Income Statement

for the Year Ended 31 May 2025

| 31.5.25 |  | 31.5.24

| Notes | £ | £ |

TURNOVER | 30,188,121 |  | 26,112,688 |  |

Cost of sales | 23,718,372 |  | 19,353,851 |  |

GROSS PROFIT | 6,469,749 |  | 6,758,837 |  |

Administrative expenses | 4,328,589 |  | 4,089,362 |  |

2,141,160 |  | 2,669,475 |  |

Other operating income | 307,644 |  | 367,691 |  |

OPERATING PROFIT | 4 | 2,448,804 |  | 3,037,166 |  |

Interest receivable and similar income | 122,148 |  | 149,473 |  |

2,570,952 |  | 3,186,639 |  |

Interest payable and similar expenses | 6 | 23,377 |  | 6,945 |  |

PROFIT BEFORE TAXATION | 2,547,575 |  | 3,179,694 |  |

Tax on profit | 7 | 633,270 |  | 763,809 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,914,305 |  | 2,415,885 |  |

Premier P. Ltd (Registered number: 05965100)

Other Comprehensive Income

for the Year Ended 31 May 2025

| 31.5.25 |  | 31.5.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,914,305 |  | 2,415,885 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,914,305 |  | 2,415,885 |  |

Premier P. Ltd (Registered number: 05965100)

Statement of Financial Position

31 May 2025

| 31.5.25 | 31.5.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 15,531,914 |  | 839,808 |  |

CURRENT ASSETS

Stocks | 10 | 6,397,102 |  | 5,292,739 |  |

Debtors | 11 | 1,958,000 |  | 1,922,114 |  |

Cash at bank | 1,062,767 |  | 5,109,379 |  |

9,417,869 |  | 12,324,232 |  |

CREDITORS

Amounts falling due within one year | 12 | 12,039,500 |  | 2,062,547 |  |

NET CURRENT (LIABILITIES)/ASSETS | (2,621,631 | ) | 10,261,685 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 12,910,283 |  | 11,101,493 |  |

PROVISIONS FOR LIABILITIES | 13 | 127,437 |  | 169,462 |  |

NET ASSETS | 12,782,846 |  | 10,932,031 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 100 |  | 100 |  |

Retained earnings | 15 | 12,782,746 |  | 10,931,931 |  |

SHAREHOLDERS' FUNDS | 12,782,846 |  | 10,932,031 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

J P Yarnell - Director

Premier P. Ltd (Registered number: 05965100)

Statement of Changes in Equity

for the Year Ended 31 May 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 June 2023 | 100 |  | 8,629,452 |  | 8,629,552 |  |

Changes in equity

Dividends | - |  | (113,406 | ) | (113,406 | ) |

Total comprehensive income | - |  | 2,415,885 |  | 2,415,885 |  |

Balance at 31 May 2024 | 100 |  | 10,931,931 |  | 10,932,031 |  |

Changes in equity

Dividends | - |  | (63,490 | ) | (63,490 | ) |

Total comprehensive income | - |  | 1,914,305 |  | 1,914,305 |  |

Balance at 31 May 2025 | 100 |  | 12,782,746 |  | 12,782,846 |  |

Premier P. Ltd (Registered number: 05965100)

Statement of Cash Flows

for the Year Ended 31 May 2025

| 31.5.25 |  | 31.5.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 11,243,943 |  | 4,682,556 |  |

Interest paid | (23,377 | ) | (6,945 | ) |

Tax paid | (436,860 | ) | (756,373 | ) |

Net cash from operating activities | 10,783,706 |  | 3,919,238 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (14,926,977 | ) | (19,976 | ) |

Interest received | 122,148 |  | 149,473 |  |

Net cash from investing activities | (14,804,829 | ) | 129,497 |  |

Cash flows from financing activities

Amount introduced by directors | 38,001 |  | - |  |

Amount withdrawn by directors | - |  | (56,312 | ) |

Equity dividends paid | (63,490 | ) | (113,406 | ) |

Net cash from financing activities | (25,489 | ) | (169,718 | ) |

(Decrease)/increase in cash and cash equivalents | (4,046,612 | ) | 3,879,017 |  |

Cash and cash equivalents at beginning of year | 2 | 5,109,379 |  | 1,230,362 |  |

Cash and cash equivalents at end of year | 2 | 1,062,767 |  | 5,109,379 |  |

Premier P. Ltd (Registered number: 05965100)

Notes to the Statement of Cash Flows

for the Year Ended 31 May 2025

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

| 31.5.25 |  | 31.5.24

£ | £ |

| Profit before taxation | 2,547,575 |  | 3,179,694 |  |

| Depreciation charges | 234,870 |  | 255,649 |  |

| Finance costs | 23,377 |  | 6,945 |  |

| Finance income | (122,148 | ) | (149,473 | ) |

2,683,674 |  | 3,292,815 |  |

| (Increase)/decrease in stocks | (1,104,363 | ) | 1,056,368 |  |

| Increase in trade and other debtors | (35,886 | ) | (35,745 | ) |

| Increase in trade and other creditors | 9,700,518 |  | 369,118 |  |

| Cash generated from operations | 11,243,943 |  | 4,682,556 |  |

2. | CASH AND CASH EQUIVALENTS

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

| Year ended 31 May 2025

| 31.5.25 |  | 1.6.24

£ | £ |

| Cash and cash equivalents | 1,062,767 |  | 5,109,379 |  |

| Year ended 31 May 2024

| 31.5.24 |  | 1.6.23

£ | £ |

| Cash and cash equivalents | 5,109,379 |  | 1,230,362 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.6.24 | Cash flow | At 31.5.25

£ | £ | £ |

| Net cash |

| Cash at bank | 5,109,379 |  | (4,046,612 | ) | 1,062,767 |  |

5,109,379 |  | (4,046,612 | ) | 1,062,767 |  |

| Total | 5,109,379 |  | (4,046,612 | ) | 1,062,767 |  |

Premier P. Ltd (Registered number: 05965100)

Notes to the Financial Statements

for the Year Ended 31 May 2025

1. | STATUTORY INFORMATION

| Premier P. Ltd 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 Company 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.

| Significant judgements and estimates

| In the application of the company'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 revision and future periods where the revision affects both current and future periods.

| Turnover

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

| Tangible fixed assets

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

| Freehold property | - | 10% on cost

| Plant and machinery | - | 33% on cost

| Fixtures and fittings | - | 20% on cost

| Motor vehicles | - | 33% on cost

| Computer equipment | - | 33% 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 year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Premier P. Ltd (Registered number: 05965100)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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

3. | EMPLOYEES AND DIRECTORS

| 31.5.25 |  | 31.5.24

£ | £ |

| Wages and salaries | 1,896,931 |  | 1,471,433 |  |

| Other pension costs | 83,400 |  | 25,401 |  |

1,980,331 |  | 1,496,834 |  |

| The average number of employees during the year was as follows:

| 31.5.25 |  | 31.5.24

| Staff | 70 |  | 69 |  |

| 31.5.25 |  | 31.5.24

£ | £ |

| Directors' remuneration | 25,140 |  | 31,239 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.5.25 |  | 31.5.24

£ | £ |

| Other operating leases | 224,967 |  | 745,363 |  |

| Depreciation - owned assets | 234,871 |  | 255,651 |  |

| Foreign exchange differences | 66,040 |  | 9,582 |  |

Premier P. Ltd (Registered number: 05965100)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

5. | AUDITORS' REMUNERATION

| 31.5.25 |  | 31.5.24

£ | £ |

| Fees payable to the company's auditor for the audit of the company's financial statements | 10,500 |  | 10,500 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.5.25 |  | 31.5.24

£ | £ |

| Interest payable | 23,377 |  | 6,945 |  |

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 31.5.25 |  | 31.5.24

£ | £ |

| Current tax:

| UK corporation tax | 675,295 |  | 863,218 |  |

| Deferred tax | (42,025 | ) | (99,409 | ) |

| Tax on profit | 633,270 |  | 763,809 |  |

8. | DIVIDENDS

| 31.5.25 |  | 31.5.24

£ | £ |

| Ordinary shares of 1 each

| Final | 63,490 |  | 113,406 |  |

Premier P. Ltd (Registered number: 05965100)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

9. | TANGIBLE FIXED ASSETS

| Fixtures

| Freehold |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 June 2024 | 220,295 |  | 645,937 |  | 162,049 |  |

| Additions | 14,845,562 |  | 53,470 |  | 24,395 |  |

| At 31 May 2025 | 15,065,857 |  | 699,407 |  | 186,444 |  |

| DEPRECIATION

| At 1 June 2024 | 58,335 |  | 193,970 |  | 41,776 |  |

| Charge for year | 38,826 |  | 125,916 |  | 34,422 |  |

| At 31 May 2025 | 97,161 |  | 319,886 |  | 76,198 |  |

| NET BOOK VALUE

| At 31 May 2025 | 14,968,696 |  | 379,521 |  | 110,246 |  |

| At 31 May 2024 | 161,960 |  | 451,967 |  | 120,273 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 June 2024 | 140,035 |  | 37,198 |  | 1,205,514 |  |

| Additions | - |  | 3,550 |  | 14,926,977 |  |

| At 31 May 2025 | 140,035 |  | 40,748 |  | 16,132,491 |  |

| DEPRECIATION

| At 1 June 2024 | 46,213 |  | 25,412 |  | 365,706 |  |

| Charge for year | 26,875 |  | 8,832 |  | 234,871 |  |

| At 31 May 2025 | 73,088 |  | 34,244 |  | 600,577 |  |

| NET BOOK VALUE

| At 31 May 2025 | 66,947 |  | 6,504 |  | 15,531,914 |  |

| At 31 May 2024 | 93,822 |  | 11,786 |  | 839,808 |  |

10. | STOCKS

| 31.5.25 |  | 31.5.24

£ | £ |

| Finished goods | 6,397,102 |  | 5,292,739 |  |

Premier P. Ltd (Registered number: 05965100)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.5.25 |  | 31.5.24

£ | £ |

| Trade debtors | 778,806 |  | 597,161 |  |

| Other debtors | 1,020,828 |  | 1,101,957 |  |

| Prepayments | 158,366 |  | 222,996 |  |

1,958,000 |  | 1,922,114 |  |

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.5.25 |  | 31.5.24

£ | £ |

| Trade creditors | 3,279,940 |  | 907,911 |  |

| Tax | 655,295 |  | 416,861 |  |

| Social security and other taxes | 43,238 |  | 30,210 |  |

| VAT | 101,548 |  | 132,985 |  |

| Other creditors | 76,891 |  | 60,088 |  |

| Directors' current accounts | 38,001 |  | - |  |

| Accrued expenses | 7,844,587 |  | 514,492 |  |

12,039,500 |  | 2,062,547 |  |

13. | PROVISIONS FOR LIABILITIES

| 31.5.25 |  | 31.5.24

£ | £ |

| Deferred tax | 127,437 |  | 169,462 |  |

| Deferred |

| tax |

£ |

| Balance at 1 June 2024 | 169,462 |  |

| Provided during year | (42,025 | ) |

| Balance at 31 May 2025 | 127,437 |  |

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.5.25 |  | 31.5.24

| value: | £ | £ |

| 100 | Ordinary | 1 | 100 |  | 100 |  |

Premier P. Ltd (Registered number: 05965100)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2025

15. | RESERVES

| Retained

| earnings

£ |

| At 1 June 2024 | 10,931,931 |  |

| Profit for the year | 1,914,305 |  |

| Dividends | (63,490 | ) |

| At 31 May 2025 | 12,782,746 |  |

16. | RELATED PARTY DISCLOSURES

| The company was under the control of Mr J Yarnell and Mrs D Yarnell throughout the current and previous year.

| At the year end the company was owed £1,020,828 (2024: £1,107,747) from Yarnell Developments Limited.

| This balance is included in debtors.

| Yarnell Developments Limited was under the control of Mr J Yanell and Mr D Yarnell.