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REGISTERED NUMBER: 09343084 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

PERRY & CO LIMITED

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 4 |

Consolidated Income Statement | 5 |

Consolidated Other Comprehensive Income | 6 |

Consolidated Balance Sheet | 7 |

Company Balance Sheet | 9 |

Consolidated Statement of Changes in Equity | 11 |

Company Statement of Changes in Equity | 12 |

Consolidated Cash Flow Statement | 13 |

Notes to the Consolidated Cash Flow Statement | 14 |

Notes to the Consolidated Financial Statements | 16 |

PERRY & CO LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 JUNE 2025

| DIRECTORS: | A B Dunnaker

| N G Perry

| I J Dunnaker

| C J Perry

| SECRETARY: | A J Allen

| REGISTERED OFFICE: | Doulton Road

| Cradley Heath

| West Midlands

| B64 5QW

| REGISTERED NUMBER: | 09343084 (England and Wales)

| ACCOUNTANTS: | Prime

| Chartered Accountants

| 161 Newhall Street

| Birmingham

| B3 1SW

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 JUNE 2025

The directors present their strategic report of the company and the group for the year ended 30 June 2025.

REVIEW OF BUSINESS

Perry & Co owns the entire issued share capital of A Perry Limited and GIC International Trading Limited. Perry group provides a cohesive corporate structure and enables the standardisation of financial, operational, and governance procedures across the group. This supports the group's ongoing objective of delivering best-in-class performance across all areas of its activities.

The financial period delivered a profit before taxation of £462,724, representing a significant increase compared with the prior year. This growth was achieved through a combination of strong customer relationships, the successful introduction of new product ranges, and continued focus on operating efficiencies. The group has continued to expand its customer base and product offering while maintaining the high standard of service that underpins its reputation.

Investment in technology remained a key strategic priority during the year. The group completed a major investment in a new operating system, which involved a period of implementation-related disruption. This transition has now been successfully completed, and the new system provides a scalable, modern platform that is expected to deliver operational benefits for many years.

In a challenging and inflationary economic environment, the group has maintained a strong focus on margin management and value creation. Despite cost pressures, gross profit margins increased during the year, reflecting disciplined pricing, procurement efficiencies, and effective cost control.

The group operates from a modern 90,000 square foot warehouse, manufacturing, and office facility, which continues to serve as the central hub of operations. The expanded warehousing capacity has enabled the implementation of an efficient storage and picking layout and provides a solid foundation to support future growth and additional product lines.

Employee relations remain strong, supported by an open and collaborative business culture. The group continues to promote employee engagement and involvement, recognising the important role its workforce plays in delivering high levels of customer service and operational performance.

The group's key financial indicators during the year were as follows:

| Unit |  | 2025 |  | 2024 |

Turnover |  | £ |  | 16,182,528 |  | 21,387,773 |

Gross profit margin |  | % |  | 26.4 |  | 25.4 |

EBITDA |  | £ |  | 1,420,530 |  | 1,150,233 |

as % of turnover |  | % |  | 8.8 |  | 5.4 |

Stock turnover |  | days |  | 146 |  | 138 |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 JUNE 2025

PRINCIPAL RISKS AND UNCERTAINTIES

In common with other businesses operating in the sector, the group is exposed to several risks and uncertainties which could affect its future performance. The directors consider the following to be the principal risks facing the group:

Market and economic conditions

The group operates in a competitive market and is exposed to changes in customer demand, pricing pressures, and broader economic conditions, including inflation and interest rate movements. These risks are mitigated through maintaining strong customer relationships, a diversified customer base, disciplined pricing strategies, and ongoing focus on cost control and operational efficiency.

Supply chain and cost pressures

The group relies on third-party suppliers for raw materials and finished goods. Disruption to supply chains, increased input costs, or delays in delivery could adversely affect operations and profitability. The group seeks to manage this risk through forward planning of stock requirements and active procurement management to maintain continuity of supply and protect margins.

Operational and systems risk

The group's operations are dependent on the effective performance of its warehouse, manufacturing processes, and IT systems. System failures, cyber risks, or operational disruption could impact service levels and financial performance. During the year, the group completed the implementation of a new operating system, which has now stabilised and provides a more robust and scalable platform. Continual reviews of systems and processes are carried out to mitigate threats.

People and skills

The success of the business depends on the recruitment, retention, and development of skilled employees. Loss of key personnel could affect operational effectiveness. The group mitigates this risk through competitive employment practices, employee engagement initiatives, and fostering a positive and collaborative working environment.

Liquidity and working capital management

The group holds significant levels of inventory to support its product range and customer service levels, which exposes it to working capital and cash flow risk. This is managed through regular forecasting, active stock management, and ongoing review of funding requirements within the wider Perry group structure.

ON BEHALF OF THE BOARD:

N G Perry - Director

16 February 2026

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 JUNE 2025

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

PRINCIPAL ACTIVITIES

The principal activities of the group in the year under review were those of the manufacturer of threaded bar and supplier of ironmongery.

The principal activity of the company in the year under review was that of a holding company of a medium size group.

DIVIDENDS

Dividends paid for the year ended 30 June 2025 were £154,965 (Period ended 2024: £233,863).

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

A B Dunnaker

N G Perry

I J Dunnaker

C J Perry

ON BEHALF OF THE BOARD:

N G Perry - Director

16 February 2026

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

TURNOVER | 3 | 16,182,528 |  | 21,387,773 |  |

Cost of sales | 11,917,096 |  | 15,958,544 |  |

GROSS PROFIT | 4,265,432 |  | 5,429,229 |  |

Administrative expenses | 3,362,637 |  | 4,991,479 |  |

902,795 |  | 437,750 |  |

Other operating income | 125,842 |  | 175,073 |  |

OPERATING PROFIT | 5 | 1,028,637 |  | 612,823 |  |

Interest receivable and similar income | 4 |  | 2,133 |  |

1,028,641 |  | 614,956 |  |

Interest payable and similar expenses | 6 | 565,917 |  | 570,365 |  |

PROFIT BEFORE TAXATION | 462,724 |  | 44,591 |  |

Tax on profit | 7 | 172,044 |  | 56,085 |  |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 290,680 |  | (11,494 | ) |

Profit/(loss) attributable to:

Owners of the parent | 290,680 |  | (11,494 | ) |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

CONSOLIDATED OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 JUNE 2025

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

PROFIT/(LOSS) FOR THE YEAR | 290,680 |  | (11,494 | ) |

OTHER COMPREHENSIVE INCOME |

Freehold property revaluation | 578,052 |  | - |  |

Income tax relating to other comprehensive income | (127,500 | ) | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 450,552 |  | - |  |

TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR | 741,232 |  | (11,494 | ) |

Total comprehensive income/(loss) attributable to:

Owners of the parent | 741,232 |  | (11,494 | ) |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

CONSOLIDATED BALANCE SHEET

30 JUNE 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 11 | 390,295 |  | 51,800 |  |

Tangible assets | 12 | 6,679,204 |  | 6,299,731 |  |

Investments | 13 |

| Interest in joint venture

| Share of gross assets | 161,238 |  | 210,172 |  |

7,230,737 |  | 6,561,703 |  |

CURRENT ASSETS

Stocks | 14 | 4,110,134 |  | 3,755,135 |  |

Debtors | 15 | 5,377,978 |  | 4,658,366 |  |

Cash at bank and in hand | 41,375 |  | 39,211 |  |

9,529,487 |  | 8,452,712 |  |

CREDITORS

Amounts falling due within one year | 16 | 7,863,183 |  | 6,676,986 |  |

NET CURRENT ASSETS | 1,666,304 |  | 1,775,726 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,897,041 |  | 8,337,429 |  |

CREDITORS

Amounts falling due after more than one year | 17 | (2,407,334 | ) | (2,655,551 | ) |

PROVISIONS FOR LIABILITIES | 21 | (1,007,503 | ) | (785,941 | ) |

NET ASSETS | 5,482,204 |  | 4,895,937 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

CONSOLIDATED BALANCE SHEET - continued

30 JUNE 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 22 | 78,637 |  | 78,637 |  |

Share premium | 23 | 2,008,728 |  | 2,008,728 |  |

Revaluation reserve | 23 | 2,521,846 |  | 2,071,294 |  |

Capital redemption reserve | 23 | 7,635 |  | 7,635 |  |

Retained earnings | 23 | 865,358 |  | 729,643 |  |

SHAREHOLDERS' FUNDS | 5,482,204 |  | 4,895,937 |  |

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2026 and were signed on its behalf by:

N G Perry - Director

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

COMPANY BALANCE SHEET

30 JUNE 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 11 | - |  | - |  |

Tangible assets | 12 | - |  | - |  |

Investments | 13 | 2,095,002 |  | 2,095,002 |  |

2,095,002 |  | 2,095,002 |  |

CURRENT ASSETS

Debtors | 15 | 33,221 |  | 33,221 |  |

Cash at bank | 4,784 |  | 4,784 |  |

38,005 |  | 38,005 |  |

CREDITORS

Amounts falling due within one year | 16 | 2 |  | 2 |  |

NET CURRENT ASSETS | 38,003 |  | 38,003 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,133,005 |  | 2,133,005 |  |

CAPITAL AND RESERVES

Called up share capital | 22 | 78,637 |  | 78,637 |  |

Share premium | 2,008,728 |  | 2,008,728 |  |

Capital redemption reserve | 7,635 |  | 7,635 |  |

Retained earnings | 38,005 |  | 38,005 |  |

SHAREHOLDERS' FUNDS | 2,133,005 |  | 2,133,005 |  |

Company's profit for the financial year | 154,965 |  | 236,803 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

COMPANY BALANCE SHEET - continued

30 JUNE 2025

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2026 and were signed on its behalf by:

N G Perry - Director

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2025

| Called up |

| share |  | Retained |  | Share

| capital |  | earnings |  | premium

£ | £ | £ |

Balance at 1 January 2023 | 78,637 |  | 975,000 |  | 2,008,728 |  |

Changes in equity

Dividends | - |  | (233,863 | ) | - |  |

Total comprehensive loss | - |  | (11,494 | ) | - |  |

Balance at 30 June 2024 | 78,637 |  | 729,643 |  | 2,008,728 |  |

Changes in equity

Dividends | - |  | (154,965 | ) | - |  |

Total comprehensive income | - |  | 290,680 |  | - |  |

Balance at 30 June 2025 | 78,637 |  | 865,358 |  | 2,008,728 |  |

| Capital |

| Revaluation |  | redemption |  | Total

| reserve |  | reserve |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 2,071,294 |  | 7,635 |  | 5,141,294 |  |

Changes in equity

Dividends | - |  | - |  | (233,863 | ) |

Total comprehensive loss | - |  | - |  | (11,494 | ) |

Balance at 30 June 2024 | 2,071,294 |  | 7,635 |  | 4,895,937 |  |

Changes in equity

Dividends | - |  | - |  | (154,965 | ) |

Total comprehensive income | 450,552 |  | - |  | 741,232 |  |

Balance at 30 June 2025 | 2,521,846 |  | 7,635 |  | 5,482,204 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2025

| Called up |  | Capital |

| share |  | Retained |  | Share |  | redemption |  | Total

| capital |  | earnings |  | premium |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2023 | 78,637 |  | 35,065 |  | 2,008,728 |  | 7,635 |  | 2,130,065 |  |

Changes in equity

Dividends | - |  | (233,863 | ) | - |  | - |  | (233,863 | ) |

Total comprehensive income | - |  | 236,803 |  | - |  | - |  | 236,803 |  |

Balance at 30 June 2024 | 78,637 |  | 38,005 |  | 2,008,728 |  | 7,635 |  | 2,133,005 |  |

Changes in equity

Dividends | - |  | (154,965 | ) | - |  | - |  | (154,965 | ) |

Total comprehensive income | - |  | 154,965 |  | - |  | - |  | 154,965 |  |

Balance at 30 June 2025 | 78,637 |  | 38,005 |  | 2,008,728 |  | 7,635 |  | 2,133,005 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 612,945 |  | 302,746 |  |

Interest paid | (504,239 | ) | (530,803 | ) |

Interest element of hire purchase payments paid | (61,678 | ) | (39,562 | ) |

Government grants | 16,667 |  | 7,445 |  |

Tax paid | (79,556 | ) | 47,688 |  |

Net cash from operating activities | (15,861 | ) | (212,486 | ) |

Cash flows from investing activities

Purchase of intangible fixed assets | (189,974 | ) | (4,650 | ) |

Purchase of tangible fixed assets | (60,612 | ) | (260,230 | ) |

Sale of tangible fixed assets | - |  | 86,581 |  |

Sale of investment property | - |  | 950,000 |  |

Interest received | 4 |  | 2,133 |  |

Net cash from investing activities | (250,582 | ) | 773,834 |  |

Cash flows from financing activities

New loans in year | 2,506,048 |  | - |  |

Loan repayments in year | (1,880,477 | ) | (558,122 | ) |

New HP in year | - |  | 269,269 |  |

Capital repayments in year | (201,999 | ) | (360,962 | ) |

Equity dividends paid | (154,965 | ) | (233,863 | ) |

Net cash from financing activities | 268,607 |  | (883,678 | ) |

Increase/(decrease) in cash and cash equivalents | 2,164 |  | (322,330 | ) |

Cash and cash equivalents at beginning of year | 2 | 39,211 |  | 361,541 |  |

Cash and cash equivalents at end of year | 2 | 41,375 |  | 39,211 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

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

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Profit before taxation | 462,724 |  | 44,591 |  |

| Depreciation charges | 391,893 |  | 537,410 |  |

| Profit on disposal of fixed assets | - |  | (16,682 | ) |

| Share of Joint Venture (profit)/loss | (27,713 | ) | (46,717 | ) |

| Finance costs | 565,917 |  | 570,365 |  |

| Finance income | (4 | ) | (2,133 | ) |

1,392,817 |  | 1,086,834 |  |

| (Increase)/decrease in stocks | (354,999 | ) | 342,333 |  |

| Increase in trade and other debtors | (719,612 | ) | (1,910,732 | ) |

| Increase in trade and other creditors | 294,739 |  | 784,311 |  |

| Cash generated from operations | 612,945 |  | 302,746 |  |

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 | 41,375 |  | 39,211 |  |

| Period ended 30 June 2024

| 30.6.24 |  | 1.1.23

£ | £ |

| Cash and cash equivalents | 39,211 |  | 361,541 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.7.24 | Cash flow | Non-cash | At 30.6.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 39,211 |  | 2,164 |  | - |  | 41,375 |  |

39,211 |  | 2,164 |  | - |  | 41,375 |  |

| Debt

| Finance leases | (406,473 | ) | 201,999 |  | (194,844 | ) | (399,318 | ) |

| Debts falling due

| within 1 year | (3,171,097 | ) | (625,571 | ) | (217,633 | ) | (4,014,301 | ) |

| Debts falling due

| after 1 year | (2,398,081 | ) | - |  | 191,234 |  | (2,206,847 | ) |

(5,975,651 | ) | (423,572 | ) | (221,243 | ) | (6,620,466 | ) |

| Total | (5,936,440 | ) | (421,408 | ) | (221,243 | ) | (6,579,091 | ) |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1. | STATUTORY INFORMATION

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

| The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

| Going concern

| The financial statements have been prepared on a going concern basis. The directors have considered a period of twelve months from the date of approving these financial statements. The directors have prepared profit and cash flow forecasts on a monthly basis, adopting assumptions that are considered appropriate, balanced and achievable. The cash flow forecast has been considered in light of the available banking facilities that the group has access to.

| Given the current trading levels, the information available and sources of funding available the directors believe the group has sufficient funds and facilities to enable it to prepare these financial statements on a going concern basis.

| Basis of consolidation

| The Group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the Group's share of the results of joint ventures made up to 30 June 2025.

| Subsidiaries are consolidated from the date of their acquisition, being the date on which the Group obtains control and continue to be consolidated until the date that such control ceases. Control comprises the power to govern the financial and operating policies of the investee so as to obtain benefit from its activities.

| Joint ventures are accounted for using the equity method of accounting.

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Joint ventures

| An entity is treated as a joint venture where the Group is party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control.

| In the accounts, interest in joint ventures are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including translation costs) and is subsequently adjusted to reflect the investor's share of the profit or loss, other comprehensive income and equity of the joint venture. The statement of comprehensive income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. Any share of losses are only recognised to the extent that they do not reduce the investment balance below zero as the Group has no obligations to make payments on behalf of the joint venture, and any share of subsequent profits shall be accounted for once the unrecognised profits are equal to the unrecognised losses. In the balance sheet, the interests in joint ventures are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition. Any unrealised profits and losses from transactions between the Group and the joint venture are eliminated to the extent of the Group's interest in the joint venture.

| Any premium on acquisition is included within the equity method accounted figure in the financial statements as goodwill. This goodwill is amortised over 10 years. Where there are indicators of impairment, the investment as a whole is tested for impairment.

| Turnover

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

| Sale of goods

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

| Intangible assets

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

| Customer relationships are being amortised evenly over their estimated useful life of ten years.

| Website costs are being amortised evenly over their estimated useful life of ten years.

| Computer software is being amortised evenly over its estimated useful life of five years.

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

| Freehold land |  | - no depreciation |  |

| Freehold buildings |  | - 2% - 4% on cost or valuation |  |

| Plant and machinery |  | - at variable rates on cost & reducing balance |  |

| Fixtures and fittings |  | - at variable rates on cost & reducing balance |  |

| Motor vehicles |  | - 25% on reducing balance |  |

| Electrical installations |  | - at variable rates on cost |  |

| Government grants

| Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure. Capital grants are recognised on the balance sheet and released to the profit and loss account over the useful economic life of the underlying asset that was acquired with the grant.

| Stocks

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

| Stocks are valued at the lower of cost and net realisable value. Cost includes all costs of purchases, costs of conversion and other costs incurred in bringing inventories to its present location and condition. Cost is calculated using the FIFO method. Provision is made for damaged, obsolete and slow-moving inventory where appropriate.

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

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

| Deferred tax

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

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

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

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

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Employee benefits

| The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

| Investments

| Investments held as fixed assets are stated at cost less any provision for impairment.

| Debtors and creditors receivable/payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Loans and borrowings

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation reserve.

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Judgements and key sources of estimation uncertainty

| The group makes judgements and assumptions concerning the future. The key assumptions and other key sources of estimation uncertainty at the balance sheet date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are detailed below.

| Inventory provisioning

| The group sells ironmongery products which are subject to changing consumer demands and trends. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the inventory, as well as applying assumptions for anticipated saleability of finished goods based on recent demand.

| Impairment of debtors

| The group makes an estimate of the recoverable value of trade debtors. When assessing the impairment of trade and other debtors, management considers specific matters that may exist, the ageing profile of debtors and historical experience.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the principal activities of the group.

| An analysis of revenue by geographical market is given below:

|  | 2025 |  |  | 2024 |  |

| United Kingdom |  | 98.45% |  |  | 98.33% |  |

| Overseas |  | 1.55% |  |  | 1.67% |  |

|  | 100.00% |  |  | 100.00% |  |

4. | EMPLOYEES AND DIRECTORS

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Wages and salaries | 1,779,235 |  | 2,963,597 |  |

| Social security costs | 180,116 |  | 268,187 |  |

| Other pension costs | 166,233 |  | 262,326 |  |

2,125,584 |  | 3,494,110 |  |

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

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

| Staff and works (including Directors) | 61 |  | 64 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

4. | EMPLOYEES AND DIRECTORS - continued

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Directors' remuneration | 139,166 |  | 297,178 |  |

| Directors' pension contributions to money purchase schemes | 32,996 |  | 143,661 |  |

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

| Money purchase schemes | 3 |  | 3 |  |

5. | OPERATING PROFIT

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

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Depreciation - owned assets | 195,545 |  | 277,274 |  |

| Depreciation - assets on hire purchase contracts | 63,647 |  | 160,029 |  |

| Profit on disposal of fixed assets | - |  | (16,682 | ) |

| Customer relationships amortisation | 21,927 |  | 65,778 |  |

| Website costs amortisation | 2,500 |  | 7,500 |  |

| Computer software amortisation | 31,629 |  | 19,605 |  |

| Auditors' remuneration | 26,569 |  | 22,502 |  |

| Foreign exchange differences | (21,462 | ) | (30,911 | ) |

| Operating leases | 198,179 |  | 140,855 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Bank interest | 285,922 |  | 272,698 |  |

| Loan interest | 190,576 |  | 198,841 |  |

| Director loan interest | 27,741 |  | 59,264 |  |

| Hire purchase interest | 61,678 |  | 39,562 |  |

565,917 |  | 570,365 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

7. | TAXATION

| Analysis of the tax charge

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

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Current tax:

| UK corporation tax | 77,982 |  | 79,556 |  |

| Adjustment in respect of prior

| year tax | - |  | (17,936 | ) |

| Total current tax | 77,982 |  | 61,620 |  |

| Deferred tax | 94,062 |  | (5,535 | ) |

| Tax on profit | 172,044 |  | 56,085 |  |

| Reconciliation of total tax charge included in profit and loss

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

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Profit before tax | 462,724 |  | 44,591 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 24 %) | 115,681 |  | 10,702 |  |

| Effects of:

| Expenses not deductible for tax purposes | 35,201 |  | 23,584 |  |

| Income not taxable for tax purposes | (6,928 | ) | (11,212 | ) |

| Capital allowances in excess of depreciation | (65,972 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 22,434 |  |

| Utilisation of tax losses | - |  | (12,583 | ) |

| Profit on disposal of assets | - |  | (4,004 | ) |

| Chargeable gains | - |  | 50,635 |  |

| Deferred tax movement | 94,062 |  | (5,535 | ) |

| Adjustment in respect of prior year | - |  | (17,936 | ) |

| Total tax charge | 172,044 |  | 56,085 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Freehold property revaluation | 578,052 |  | (127,500 | ) | 450,552 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

7. | TAXATION - continued

| There were no tax effects for the period ended 30 June 2024.

8. | INDIVIDUAL INCOME STATEMENT

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

9. | DIVIDENDS

| Period

| 1.1.23

| Year ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Ordinary shares shares of £1 each

| Interim | 154,965 |  | 233,863 |  |

10. | GOVERNMENT GRANTS

| During the financial period the company received the following grants:

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Government Grants |  | 11,667 |  | 7,445 |  |

|  | 11,667 |  | 7,445 |  |

11. | INTANGIBLE FIXED ASSETS

| Group

| Customer |  | Website |  | Computer |

| relationships |  | costs |  | software |  | Totals

£ | £ | £ | £ |

| COST

| At 1 July 2024 | 438,521 |  | 50,000 |  | 119,508 |  | 608,029 |  |

| Additions | - |  | - |  | 394,551 |  | 394,551 |  |

| Disposals | - |  | - |  | (59,858 | ) | (59,858 | ) |

| At 30 June 2025 | 438,521 |  | 50,000 |  | 454,201 |  | 942,722 |  |

| AMORTISATION

| At 1 July 2024 | 416,594 |  | 47,500 |  | 92,135 |  | 556,229 |  |

| Amortisation for year | 21,927 |  | 2,500 |  | 31,629 |  | 56,056 |  |

| Eliminated on disposal | - |  | - |  | (59,858 | ) | (59,858 | ) |

| At 30 June 2025 | 438,521 |  | 50,000 |  | 63,906 |  | 552,427 |  |

| NET BOOK VALUE

| At 30 June 2025 | - |  | - |  | 390,295 |  | 390,295 |  |

| At 30 June 2024 | 21,927 |  | 2,500 |  | 27,373 |  | 51,800 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

12. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Freehold |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST OR VALUATION

| At 1 July 2024 | 5,349,563 |  | 1,524,141 |  | 964,912 |  |

| Additions | - |  | 15,509 |  | 45,103 |  |

| Revaluations | 392,425 |  | - |  | - |  |

| At 30 June 2025 | 5,741,988 |  | 1,539,650 |  | 1,010,015 |  |

| DEPRECIATION

| At 1 July 2024 | 111,153 |  | 889,863 |  | 752,735 |  |

| Charge for year | 74,475 |  | 74,432 |  | 53,647 |  |

| Revaluation adjustments | (185,628 | ) | - |  | - |  |

| At 30 June 2025 | - |  | 964,295 |  | 806,382 |  |

| NET BOOK VALUE

| At 30 June 2025 | 5,741,988 |  | 575,355 |  | 203,633 |  |

| At 30 June 2024 | 5,238,410 |  | 634,278 |  | 212,177 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 July 2024 | 107,775 |  | 362,077 |  | 8,308,468 |  |

| Additions | - |  | - |  | 60,612 |  |

| Revaluations | - |  | - |  | 392,425 |  |

| At 30 June 2025 | 107,775 |  | 362,077 |  | 8,761,505 |  |

| DEPRECIATION

| At 1 July 2024 | 42,130 |  | 212,856 |  | 2,008,737 |  |

| Charge for year | 15,429 |  | 41,209 |  | 259,192 |  |

| Revaluation adjustments | - |  | - |  | (185,628 | ) |

| At 30 June 2025 | 57,559 |  | 254,065 |  | 2,082,301 |  |

| NET BOOK VALUE

| At 30 June 2025 | 50,216 |  | 108,012 |  | 6,679,204 |  |

| At 30 June 2024 | 65,645 |  | 149,221 |  | 6,299,731 |  |

| Included in cost or valuation of land and buildings is freehold land of £3,290,838 (2024 - £2,898,413) which is not depreciated.

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

12. | TANGIBLE FIXED ASSETS - continued

| Group

| Cost or valuation at 30 June 2025 is represented by:

| Fixtures

| Freehold |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| Valuation in 2022 | 2,149,843 |  | - |  | - |  |

| Valuation in 2025 | 392,425 |  | - |  | - |  |

| Cost | 3,199,720 |  | 1,539,650 |  | 1,010,015 |  |

5,741,988 |  | 1,539,650 |  | 1,010,015 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| Valuation in 2022 | - |  | - |  | 2,149,843 |  |

| Valuation in 2025 | - |  | - |  | 392,425 |  |

| Cost | 107,775 |  | 362,077 |  | 6,219,237 |  |

107,775 |  | 362,077 |  | 8,761,505 |  |

| The freehold property was valued on an open market basis on 22 August 2025 by BNP Paribas Real Estate .

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Fixtures |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1 July 2024 | 907,607 |  | 294,333 |  | - |  | 88,062 |  | 1,290,002 |  |

| Transfer to ownership | (255,110 | ) | (294,333 | ) | - |  | (88,062 | ) | (637,505 | ) |

| Reclassification/transfer | 22,800 |  | - |  | 77,089 |  | - |  | 99,889 |  |

| At 30 June 2025 | 675,297 |  | - |  | 77,089 |  | - |  | 752,386 |  |

| DEPRECIATION

| At 1 July 2024 | 380,294 |  | 185,217 |  | - |  | 70,980 |  | 636,491 |  |

| Charge for year | 48,230 |  | - |  | 15,417 |  | - |  | 63,647 |  |

| Transfer to ownership | (250,178 | ) | (185,217 | ) | - |  | (70,980 | ) | (506,375 | ) |

| Reclassification/transfer | 4,180 |  | - |  | 11,491 |  | - |  | 15,671 |  |

| At 30 June 2025 | 182,526 |  | - |  | 26,908 |  | - |  | 209,434 |  |

| NET BOOK VALUE

| At 30 June 2025 | 492,771 |  | - |  | 50,181 |  | - |  | 542,952 |  |

| At 30 June 2024 | 527,313 |  | 109,116 |  | - |  | 17,082 |  | 653,511 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

13. | FIXED ASSET INVESTMENTS

| Group

| Interest

| in joint

| venture

£ |

| COST

| At 1 July 2024 | 210,172 |  |

| Share of profit/(loss) | 27,713 |  |

| At 30 June 2025 | 237,885 |  |

| PROVISIONS

| Provision for year | 76,647 |  |

| At 30 June 2025 | 76,647 |  |

| NET BOOK VALUE

| At 30 June 2025 | 161,238 |  |

| At 30 June 2024 | 210,172 |  |

| Interest in joint venture

| During the period the group owned a 50% equity stake in Ukandin International Private Limited, a company based in India. At 30 June 2025 the joint venture had a capital and reserves total on the balance sheet of £77,924 (2024: £22,499).

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 2,095,002 |  |

| NET BOOK VALUE

| At 30 June 2025 | 2,095,002 |  |

| At 30 June 2024 | 2,095,002 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| A Perry Limited

| Registered office: Doulton Road, Cradley Heath, West Midlands, B64 5QW

| Nature of business: Sale of hardware products

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

13. | FIXED ASSET INVESTMENTS - continued

| GIC International Trading Limited

| Registered office: Doulton Road, Cradley Heath, West Midlands, B64 5QW

| Nature of business: Holding of joint venture in hardware manufacturer

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

14. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Finished goods | 4,110,134 |  | 3,755,135 |  |

| An impairment loss/(gain) of £244,141 (2024: (£5,876)) was recognised in the year.

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 3,600,664 |  | 2,924,236 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 25,845 |  | 25,845 |  |

| Amounts owed by joint ventures | 1,465,535 |  | 1,416,128 |  | - |  | - |  |

| Other debtors | 7,373 |  | 10,374 |  | 7,376 |  | 7,376 |  |

| Prepayments | 304,406 |  | 307,628 |  | - |  | - |  |

5,377,978 |  | 4,658,366 |  | 33,221 |  | 33,221 |  |

| Included within trade debtors are balances totalling £3,422,379 (2024 - £2,705,776) that are subject to factoring arrangements. The associated liability recognised in creditors amounts to £1,834,122 (2024 - £1,272,289).

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 18) | 4,014,301 |  | 3,171,097 |  | - |  | - |  |

| Hire purchase contracts (see note 19) | 198,831 |  | 149,003 |  | - |  | - |  |

| Trade creditors | 2,269,202 |  | 2,191,419 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 2 |  | 2 |  |

| Tax | 77,982 |  | 79,556 |  | - |  | - |  |

| Social security and other taxes | 632,740 |  | 320,886 |  | - |  | - |  |

| Other creditors | 520,421 |  | 699,474 |  | - |  | - |  |

| Accrued expenses | 149,706 |  | 65,551 |  | - |  | - |  |

7,863,183 |  | 6,676,986 |  | 2 |  | 2 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

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

| Group |

2025 | 2024 |

£ | £ |

| Bank loans (see note 18) | 2,206,847 |  | 2,398,081 |  |

| Hire purchase contracts (see note 19) | 200,487 |  | 257,470 |  |

2,407,334 |  | 2,655,551 |  |

18. | LOANS

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

| Group |

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or | on demand: |

| Bank loans | 235,964 |  | 242,139 |  |

| Short term loans | 1,944,215 |  | 1,656,669 |  |

| Invoice discounting loan | 1,834,122 |  | 1,272,289 |  |

4,014,301 |  | 3,171,097 |  |

| Amounts falling due between one and | two years: |

| Bank loans - 1-2 years | 125,381 |  | 246,062 |  |

| Amounts falling due between two and | five years: |

| Bank loans - 2-5 years | 432,747 |  | 400,218 |  |

| Amounts falling due in more than five | years: |

| Repayable by instalments

| Bank loans more than 5 years | 1,648,719 |  | 1,751,801 |  |

| The bank overdraft is secured (see note 20) and repayable on demand. It is provided for the company's working capital requirements. Interest is charged at 2.5% over the HSBC UK Bank PLC base rate.

| Bank loans attract interest at 2.35% over bank base rate and are secured on the freehold properties owned by the company.

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

19. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 198,831 |  | 149,003 |  |

| Between one and five years | 200,487 |  | 257,470 |  |

399,318 |  | 406,473 |  |

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 61,414 |  | 165,469 |  |

| Between one and five years | 81,736 |  | 103,253 |  |

143,150 |  | 268,722 |  |

20. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2025 | 2024 |

£ | £ |

| Bank loans | 6,221,148 |  | 5,569,178 |  |

| Hire purchase contracts | 399,318 |  | 406,473 |  |

6,620,466 |  | 5,975,651 |  |

| HSBC UK Bank PLC hold a charge over the offices and warehouse and a fixed and floating charge over all the assets of the group by way of a debenture dated 23 August 2019.

| The company is party to an unlimited multilateral guarantee dated 23 August 2019 in favour of HSBC UK Bank PLC. The guarantee is given by Perry & Co Limited, A Perry Limited and GIC International Trading Limited.

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

21. | PROVISIONS FOR LIABILITIES

| Group |

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 385,003 |  | 290,941 |  |

| Revaluation of property | 622,500 |  | 495,000 |  |

1,007,503 |  | 785,941 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 785,941 |  |

| Provided during year | 221,562 |  |

| Balance at 30 June 2025 | 1,007,503 |  |

22. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 78,637 | Ordinary shares | £1 | 78,637 |  | 78,637 |  |

| On 22 November 2024 the 78,637 £1 Ordinary shares were redesignated as below:

| All share designations have full voting, dividend and capital distribution rights.

| £1 A Ordinary Shares |  |  | 13,184 |  |

| £1 B Ordinary Shares |  |  | 100 |  |

| £1 C Ordinary Shares |  |  | 100 |  |

| £1 D Ordinary Shares |  |  | 7,634 |  |

| £1 E Ordinary Shares |  |  | 1,000 |  |

| £1 F Ordinary Shares |  |  | 1,000 |  |

| £1 G Ordinary Shares |  |  | 4,800 |  |

| £1 H Ordinary Shares |  |  | 7,784 |  |

| £1 I Ordinary Shares |  |  | 7,784 |  |

| £1 J Ordinary Shares |  |  | 15,833 |  |

| £1 K Ordinary Shares |  |  | 8,567 |  |

| £1 L Ordinary Shares |  |  | 1,142 |  |

| £1 M Ordinary Shares |  |  | 8,567 |  |

| £1 N Ordinary Shares |  |  | 1,142 |  |

|  | 78,637 |  |

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

23. | RESERVES

| Group

| Capital |

| Retained |  | Share |  | Revaluation |  | redemption |

| earnings |  | premium |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ | £ |

| At 1 July 2024 | 729,643 |  | 2,008,728 |  | 2,071,294 |  | 7,635 |  | 4,817,300 |  |

| Profit for the year | 290,680 |  | - |  | - |  | - |  | 290,680 |  |

| Dividends | (154,965 | ) | - |  | - |  | - |  | (154,965 | ) |

| Revaluation reserve | - |  | - |  | 578,052 |  | - |  | 578,052 |  |

| Deferred tax on revaluation | - |  | - |  | (127,500 | ) | - |  | (127,500 | ) |

| At 30 June 2025 | 865,358 |  | 2,008,728 |  | 2,521,846 |  | 7,635 |  | 5,403,567 |  |

| The retained earnings reserve represents cumulative profits and losses net of distributions to the shareholders.

| The share premium reserve represents the consideration received for shares issues above their nominal value and net of transaction costs.

| The revaluation reserve represents the net gains and losses on revaluation of land and buildings, except for those which are recognised in the profit and loss.

| The capital redemption reserve represents the nominal value of shares that have been cancelled upon repurchase.

24. | PENSION COMMITMENTS

| The group operates defined contribution pension schemes and stakeholder pension schemes for all of its directors and employees. The premiums are paid to insurance companies and a workplace pension scheme. The contributions are charged against profits in the year in which they are paid. During the year to 30 June 2025 contributions of £166,233 (2024: £262,326) were charged against the Profit and Loss Account. At 30 June 2025 contributions of £9,910 (2024: £8,979) were due to scheme providers.

25. | ULTIMATE CONTROLLING PARTY

| The company is owned by a number of private shareholders, accordingly there is no ultimate controlling party.

26. | CAPITAL COMMITMENTS

2025 | 2024 |

£ | £ |

| Contracted but not provided for in the

| financial statements | - |  | 389,146 |  |

27. | OTHER FINANCIAL COMMITMENTS

| At 30 June 2025, the company had entered into a contract to purchase foreign currency at future

| dates. The amount committed to was dependent on future exchange rates. The maximum potential

| commitment as at 30 June 2025 was $1,047,742 (2024: $482,051).

PERRY & CO LIMITED (REGISTERED NUMBER: 09343084)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

28. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| The total compensation paid to key management personnel for services provided to the group was £389,826 (2024: £741,725).

| The following transactions took place between the group and its related parties during the year:

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Sales |  | 27,236 |  | 77,427 |  |

| Purchases |  | 3,756,051 |  | 4,427,103 |  |

| Debtors |  | 1,468,165 |  | 1,416,225 |  |

| Creditors |  | - |  | - |  |

| Other related parties are joint ventures and companies with common directors.

| Directors' current account balances are included within Other Creditors. The total amount in credit as at the end of the year was £230,782 (2024: £331,610).

| The group paid interest on the credit balances owed to certain directors of £27,741 (2024: £59,264).

29. | EVENTS AFTER THE END OF THE REPORTING PERIOD

| Dividends of £179,466 were paid on 1 October 2025.