IRIS Accounts Production v25.4.12.37 07904764 Board of Directors 1.7.24 30.6.25 30.6.25 Medium entities the sale and installation of verandas, garage doors and shutters. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07904764 2024-06-30 07904764 2025-06-30 07904764 2024-07-01 2025-06-30 07904764 2023-06-30 07904764 2023-07-01 2024-06-30 07904764 2024-06-30 07904764 ns15:EnglandWales 2024-07-01 2025-06-30 07904764 ns14:PoundSterling 2024-07-01 2025-06-30 07904764 ns10:Director1 2024-07-01 2025-06-30 07904764 ns10:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 07904764 ns10:MediumEntities 2024-07-01 2025-06-30 07904764 ns10:Audited 2024-07-01 2025-06-30 07904764 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-07-01 2025-06-30 07904764 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-07-01 2025-06-30 07904764 ns10:FullAccounts 2024-07-01 2025-06-30 07904764 ns10:OrdinaryShareClass1 2024-07-01 2025-06-30 07904764 ns10:Director2 2024-07-01 2025-06-30 07904764 ns10:CompanySecretary1 2024-07-01 2025-06-30 07904764 ns10:RegisteredOffice 2024-07-01 2025-06-30 07904764 ns5:CurrentFinancialInstruments 2025-06-30 07904764 ns5:CurrentFinancialInstruments 2024-06-30 07904764 ns5:Non-currentFinancialInstruments 2025-06-30 07904764 ns5:Non-currentFinancialInstruments 2024-06-30 07904764 ns5:ShareCapital 2025-06-30 07904764 ns5:ShareCapital 2024-06-30 07904764 ns5:RetainedEarningsAccumulatedLosses 2025-06-30 07904764 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 07904764 ns5:ShareCapital 2023-06-30 07904764 ns5:RetainedEarningsAccumulatedLosses 2023-06-30 07904764 ns5:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 07904764 ns5:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 07904764 ns5:PlantMachinery 2024-07-01 2025-06-30 07904764 ns5:MotorVehicles 2024-07-01 2025-06-30 07904764 ns5:OwnedAssets 2024-07-01 2025-06-30 07904764 ns5:OwnedAssets 2023-07-01 2024-06-30 07904764 ns5:LeasedAssets 2024-07-01 2025-06-30 07904764 ns5:LeasedAssets 2023-07-01 2024-06-30 07904764 ns5:HirePurchaseContracts 2024-07-01 2025-06-30 07904764 ns5:HirePurchaseContracts 2023-07-01 2024-06-30 07904764 ns10:OrdinaryShareClass1 2023-07-01 2024-06-30 07904764 ns5:PlantMachinery 2024-06-30 07904764 ns5:MotorVehicles 2024-06-30 07904764 ns5:PlantMachinery 2025-06-30 07904764 ns5:MotorVehicles 2025-06-30 07904764 ns5:PlantMachinery 2024-06-30 07904764 ns5:MotorVehicles 2024-06-30 07904764 ns5:LeasedAssetsHeldAsLessee 2024-07-01 2025-06-30 07904764 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-06-30 07904764 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-06-30 07904764 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2025-06-30 07904764 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2024-06-30 07904764 ns5:DeferredTaxation 2024-06-30 07904764 ns5:DeferredTaxation 2025-06-30 07904764 ns10:OrdinaryShareClass1 2025-06-30 07904764 ns5:RetainedEarningsAccumulatedLosses 2024-06-30

REGISTERED NUMBER: 07904764 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 JUNE 2025 |

| FOR |

| CROCODILE PRODUCTS LTD |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 4 |

| Income Statement | 6 |

| Balance Sheet | 7 |

| Statement of Changes in Equity | 8 |

| Cash Flow Statement | 9 |

| Notes to the Cash Flow Statement | 10 |

| Notes to the Financial Statements | 11 |

| CROCODILE PRODUCTS LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 30 JUNE 2025

| DIRECTORS: | Mr B J North

| Mr C M North

| SECRETARY: | Mrs C North

| REGISTERED OFFICE: | Spring Garden Mill

| New Street

| Milnsbridge

| Huddersfield

| West Yorkshire

| HD3 4LN

| REGISTERED NUMBER: | 07904764 (England and Wales)

| AUDITORS: | Livesey Spottiswood Ltd

| Chartered Accountants and

| Statutory Auditors

| 17 George Street

| St Helens

| Merseyside

| WA10 1DB

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

STRATEGIC REPORT

FOR THE YEAR ENDED 30 JUNE 2025

During the year, the company's main activities continued to be that the sale and installation of verandas, garage doors and shutters.

REVIEW OF BUSINESS

During the year, the Company's turnover increased to £18,077,886 (2024 - £17,616,341), an increase of £461,545. The directors consider that this increase reflects a period of relative economic stability during the year, together with the impact of a price increase being implemented.

Gross profit margin increased from 29.8% to 31.9%. This improvement arose primarily from changes made to the commission structure during the year, which altered the basis on which commissions were calculated.

The increased turnover, coupled with the improved margin resulted in an increase in gross profit in monetary terms of £518,812 (9.8%).

Unfortunately Selling and distribution costs increased by £426,430 in the year as market conditions remained challenging, with lower sales conversion rates. As a result, additional advertising expenditure was incurred.

Administrative expenses increased by £75,016, reflecting inflationary cost increases during the year.

The company recorded a profit for the year of £632,200 (2024: £676,230).

The directors are satisfied with the results given the current economic climate.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider that the current economic environment continues to present uncertainty, particularly in relation to increases in national insurance contributions and the national minimum wage which will continue to put pressure on margins.

The directors anticipate that further price increases may be required in March 2026 in order to mitigate the ongoing cost pressures. The company is also reviewing its advertising expenditure, with potential reductions expected to result in cost savings of approximately £400,000.

ON BEHALF OF THE BOARD:

Mr B J North - Director

20 February 2026

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 JUNE 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

DIRECTORS

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

Mr B J North

Mr C M North

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 auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr B J North - Director

20 February 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CROCODILE PRODUCTS LTD

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CROCODILE PRODUCTS LTD

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

- Discussions with management and those involved in the financial reporting process including consideration of known or suspected instances of non-compliance with laws and regulations central to the company's ability to operate, and fraud;

- Evaluation and testing of the operating effectiveness of management's controls designed to prevent and detect irregularities;

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or of significant monetary amounts; and

-Review of the rationale for the calculation of key accounting estimates in the financial statements and testing of the accuracy of these calculations.

There are inherent limitations in the audit procedures described above. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Use of our report

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

Mr Andrew McMinnis FCA FCCA (Senior Statutory Auditor)

for and on behalf of Livesey Spottiswood Ltd

Chartered Accountants and

Statutory Auditors

17 George Street

St Helens

Merseyside

WA10 1DB

4 March 2026

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

INCOME STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 18,077,886 |  | 17,616,341 |  |

Cost of sales | (12,303,984 | ) | (12,361,251 | ) |

GROSS PROFIT | 5,773,902 |  | 5,255,090 |  |

Selling and distribution costs | (3,326,554 | ) | (2,900,124 | ) |

Administrative expenses | (1,841,152 | ) | (1,692,226 | ) |

OPERATING PROFIT | 4 | 606,196 |  | 662,740 |  |

Interest receivable and similar income | 27,336 |  | 16,574 |  |

633,532 |  | 679,314 |  |

Interest payable and similar expenses | 5 | (1,332 | ) | (3,084 | ) |

PROFIT BEFORE TAXATION | 632,200 |  | 676,230 |  |

Tax on profit | 6 | (124,323 | ) | (140,690 | ) |

PROFIT FOR THE FINANCIAL YEAR | 507,877 |  | 535,540 |  |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

BALANCE SHEET

30 JUNE 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 434,919 |  | 392,336 |  |

CURRENT ASSETS

Stocks | 9 | 2,368,036 |  | 2,167,344 |  |

Debtors | 10 | 683,207 |  | 748,588 |  |

Cash at bank and in hand | 2,655,326 |  | 2,310,553 |  |

5,706,569 |  | 5,226,485 |  |

CREDITORS

Amounts falling due within one year | 11 | (3,408,002 | ) | (3,381,725 | ) |

NET CURRENT ASSETS | 2,298,567 |  | 1,844,760 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,733,486 |  | 2,237,096 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (2,064 | ) | (25,956 | ) |

PROVISIONS FOR LIABILITIES | 16 | (108,730 | ) | (96,325 | ) |

NET ASSETS | 2,622,692 |  | 2,114,815 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 200 |  | 200 |  |

Retained earnings | 18 | 2,622,492 |  | 2,114,615 |  |

SHAREHOLDERS' FUNDS | 2,622,692 |  | 2,114,815 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2026 and were signed on its behalf by:

Mr B J North - Director

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 July 2023 | 200 |  | 2,229,075 |  | 2,229,275 |  |

Changes in equity

Dividends | - |  | (650,000 | ) | (650,000 | ) |

Total comprehensive income | - |  | 535,540 |  | 535,540 |  |

Balance at 30 June 2024 | 200 |  | 2,114,615 |  | 2,114,815 |  |

Changes in equity

Total comprehensive income | - |  | 507,877 |  | 507,877 |  |

Balance at 30 June 2025 | 200 |  | 2,622,492 |  | 2,622,692 |  |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 673,204 |  | 1,048,289 |  |

Interest paid | (301 | ) | (636 | ) |

Interest element of hire purchase payments paid | (1,031 | ) | (2,448 | ) |

Tax paid | (143,494 | ) | 36,335 |  |

Net cash from operating activities | 528,378 |  | 1,081,540 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (202,868 | ) | (128,954 | ) |

Sale of tangible fixed assets | 28,567 |  | 8,300 |  |

Interest received | 27,336 |  | 16,574 |  |

Net cash from investing activities | (146,965 | ) | (104,080 | ) |

Cash flows from financing activities

Loan repayments in year | (10,647 | ) | (10,013 | ) |

Capital repayments in year | (23,584 | ) | (44,876 | ) |

Amount introduced by directors | 6,288 |  | 16,719 |  |

Amount withdrawn by directors | (8,697 | ) | - |  |

Equity dividends paid | - |  | (650,000 | ) |

Net cash from financing activities | (36,640 | ) | (688,170 | ) |

Increase in cash and cash equivalents | 344,773 |  | 289,290 |  |

Cash and cash equivalents at beginning of year | 2 | 2,310,553 |  | 2,021,263 |  |

Cash and cash equivalents at end of year | 2 | 2,655,326 |  | 2,310,553 |  |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 632,200 |  | 676,230 |  |

| Depreciation charges | 136,404 |  | 122,262 |  |

| (Profit)/loss on disposal of fixed assets | (4,687 | ) | 7,138 |  |

| Finance costs | 1,332 |  | 3,084 |  |

| Finance income | (27,336 | ) | (16,574 | ) |

737,913 |  | 792,140 |  |

| Increase in stocks | (200,692 | ) | (409,155 | ) |

| Decrease in trade and other debtors | 99,032 |  | 387,740 |  |

| Increase in trade and other creditors | 36,951 |  | 277,564 |  |

| Cash generated from operations | 673,204 |  | 1,048,289 |  |

2. | CASH AND CASH EQUIVALENTS

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

| Year ended 30 June 2025

| 30/6/25 |  | 1/7/24

£ | £ |

| Cash and cash equivalents | 2,655,326 |  | 2,310,553 |  |

| Year ended 30 June 2024

| 30/6/24 |  | 1/7/23

£ | £ |

| Cash and cash equivalents | 2,310,553 |  | 2,021,263 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/7/24 | Cash flow | At 30/6/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 2,310,553 |  | 344,773 |  | 2,655,326 |  |

2,310,553 |  | 344,773 |  | 2,655,326 |  |

| Debt

| Finance leases | (43,680 | ) | 23,584 |  | (20,096 | ) |

| Debts falling due within 1 year | (10,000 | ) | 735 |  | (9,265 | ) |

| Debts falling due after 1 year | (9,913 | ) | 9,913 |  | - |  |

(63,593 | ) | 34,232 |  | (29,361 | ) |

| Total | 2,246,960 |  | 379,005 |  | 2,625,965 |  |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1. | STATUTORY INFORMATION

| Crocodile Products 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 as set out below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| Management consider that the following have the most significant effect on the amounts recognised in the financial statements:

| Work in progress (as detailed in note 9) is calculated by applying a percentage of the selling price dependent upon the individual contracts stage of completion. Whilst all contract are slightly different in terms of margin, the directors do not consider these differences to be sufficiently great enough to materially impact the figures presented in the financial statements.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on completion of an install.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery | - | 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Stocks

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

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Work in progress, as detailed in note 9, is calculated by applying a percentage of the selling price dependent upon the individual contracts stage of completion. Whilst all contract are slightly different in terms of margin, the directors do not consider these differences to be sufficiently great enough to materially impact the figures presented in the financial statements.

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

| Hire purchase and leasing commitments

| Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts.

| 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.

| Grants

| Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,175,892 |  | 1,977,132 |  |

| Social security costs | 237,158 |  | 193,410 |  |

| Other pension costs | 279,241 |  | 245,663 |  |

2,692,291 |  | 2,416,205 |  |

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

| 2025 |  | 2024

| Production | 30 |  | 27 |  |

| Selling and distribution | 15 |  | 13 |  |

| Administration | 19 |  | 18 |  |

64 |  | 58 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 25,153 |  | 25,153 |  |

| Directors' pension contributions to money purchase schemes | 120,000 |  | 120,000 |  |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

4. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Other operating leases | 82,150 |  | 77,600 |  |

| Depreciation - owned assets | 106,583 |  | 85,362 |  |

| Depreciation - assets on hire purchase contracts | 29,822 |  | 36,899 |  |

| (Profit)/loss on disposal of fixed assets | (4,687 | ) | 7,138 |  |

| Auditors' remuneration | 13,150 |  | 11,450 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 301 |  | 636 |  |

| Hire purchase interest | 1,031 |  | 2,448 |  |

1,332 |  | 3,084 |  |

6. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 145,575 |  | 143,500 |  |

| Prior periods | (33,657 | ) | (36,335 | ) |

| Total current tax | 111,918 |  | 107,165 |  |

| Deferred tax | 12,405 |  | 33,525 |  |

| Tax on profit | 124,323 |  | 140,690 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 632,200 |  | 676,230 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 158,050 |  | 169,058 |  |

| Effects of:

| Expenses not deductible for tax purposes | 149 |  | - |  |

| Capital allowances in excess of depreciation | (12,624 | ) | (7,213 | ) |

| Adjustments to tax charge in respect of previous periods | (34 | ) | (36,335 | ) |

| Tax losses carried forward | - |  | (18,378 | ) |

| Research & development enhanced deduction | (33,623 | ) | - |  |

| Rounding | - |  | 33 |  |

| Movement in deferred tax | 12,405 |  | 33,525 |  |

| Total tax charge | 124,323 |  | 140,690 |  |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

7. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Dividends paid | - |  | 650,000 |  |

8. | TANGIBLE FIXED ASSETS

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 July 2024 | 204,813 |  | 623,277 |  | 828,090 |  |

| Additions | 28,000 |  | 174,868 |  | 202,868 |  |

| Disposals | - |  | (44,533 | ) | (44,533 | ) |

| At 30 June 2025 | 232,813 |  | 753,612 |  | 986,425 |  |

| DEPRECIATION

| At 1 July 2024 | 104,276 |  | 331,478 |  | 435,754 |  |

| Charge for year | 25,708 |  | 110,697 |  | 136,405 |  |

| Eliminated on disposal | - |  | (20,653 | ) | (20,653 | ) |

| At 30 June 2025 | 129,984 |  | 421,522 |  | 551,506 |  |

| NET BOOK VALUE

| At 30 June 2025 | 102,829 |  | 332,090 |  | 434,919 |  |

| At 30 June 2024 | 100,537 |  | 291,799 |  | 392,336 |  |

| Included within the cost of motor vehicles are assets held under hire purchase contracts amounting to £190,448 (2024 - £206,398). Accumulated depreciation on these assets amounts to £100,981 (2024 - £80,380).

9. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 424,511 |  | 471,122 |  |

| Work-in-progress | 1,943,525 |  | 1,696,222 |  |

2,368,036 |  | 2,167,344 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 272,199 |  | 333,618 |  |

| Other debtors | 233,040 |  | 290,520 |  |

| Corporation tax | 33,651 |  | - |  |

| Prepayments and accrued income | 144,317 |  | 124,450 |  |

683,207 |  | 748,588 |  |

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 13) | 9,265 |  | 10,000 |  |

| Hire purchase contracts (see note 14) | 18,032 |  | 27,637 |  |

| Trade creditors | 1,577,678 |  | 1,481,705 |  |

| Corporation tax | 145,575 |  | 143,500 |  |

| Social security and other

| taxes | 346,390 |  | 360,521 |  |

| Other creditors | 1,250,313 |  | 1,283,393 |  |

| Directors' current accounts | 14,310 |  | 16,719 |  |

| Accruals and deferred income | 46,439 |  | 58,250 |  |

3,408,002 |  | 3,381,725 |  |

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans (see note 13) | - |  | 9,913 |  |

| Hire purchase contracts (see note 14) | 2,064 |  | 16,043 |  |

2,064 |  | 25,956 |  |

13. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loan | 9,265 |  | 10,000 |  |

| Amounts falling due between one and two years:

| Bank loan | - |  | 9,913 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Non-cancellable operating leases |  |

|  | 2025 |  |  | 2024 |

|  | £ |  |  | £ |

| Within one year |  | 81,667 |  |  | 40,833 |

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase | 20,096 |  | 43,680 |  |

| The hire purchase contracts are secured against the assets to which they relate.

| CROCODILE PRODUCTS LTD (REGISTERED NUMBER: 07904764) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

16. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 108,730 |  | 96,325 |  |

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 96,325 |  |

| Movements in the year | 12,405 |  |

| Balance at 30 June 2025 | 108,730 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 200 | Ordinary | £1 | 200 |  | 200 |  |

18. | RESERVES

| Retained

| earnings

£ |

| At 1 July 2024 | 2,114,615 |  |

| Profit for the year | 507,877 |  |

| At 30 June 2025 | 2,622,492 |  |

19. | RELATED PARTY DISCLOSURES

| During the year the company has recharged goods and other costs amounting to £31,812 (2024 - £195,282) and has been charged £37,575 (2024 - £325,438) for goods and services by Continental Fabrications Limited, a company in which the directors and shareholders are the same.

| The company has also paid management charges amounting to £575,000 (2024 - £600,000) and provided financial support to Continental Fabrications Limited. At 30 June 2025, £233,040 (2024 - £290,520) was due from Continental Fabrications Limited.