IRIS Accounts Production v25.4.0.155 04555028 Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities 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 Shares 1.00000 A Shares 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 04555028 2024-03-31 04555028 2025-03-31 04555028 2024-04-01 2025-03-31 04555028 2023-03-31 04555028 2023-04-01 2024-03-31 04555028 2024-03-31 04555028 ns15:EnglandWales 2024-04-01 2025-03-31 04555028 ns14:PoundSterling 2024-04-01 2025-03-31 04555028 ns10:Director1 2024-04-01 2025-03-31 04555028 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04555028 ns10:MediumEntities 2024-04-01 2025-03-31 04555028 ns10:Audited 2024-04-01 2025-03-31 04555028 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 04555028 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04555028 ns10:FullAccounts 2024-04-01 2025-03-31 04555028 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 04555028 ns10:OrdinaryShareClass2 2024-04-01 2025-03-31 04555028 ns10:Director2 2024-04-01 2025-03-31 04555028 ns10:Director3 2024-04-01 2025-03-31 04555028 ns10:CompanySecretary1 2024-04-01 2025-03-31 04555028 ns10:RegisteredOffice 2024-04-01 2025-03-31 04555028 ns5:CurrentFinancialInstruments 2025-03-31 04555028 ns5:CurrentFinancialInstruments 2024-03-31 04555028 ns5:ShareCapital 2025-03-31 04555028 ns5:ShareCapital 2024-03-31 04555028 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 04555028 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 04555028 ns5:ShareCapital 2023-03-31 04555028 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 04555028 ns5:SharePremium 2023-03-31 04555028 ns5:ShareCapital 2023-04-01 2024-03-31 04555028 ns5:SharePremium 2023-04-01 2024-03-31 04555028 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04555028 ns5:SharePremium 2024-03-31 04555028 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 04555028 ns5:SharePremium 2025-03-31 04555028 ns5:PlantMachinery 2024-04-01 2025-03-31 04555028 ns5:FurnitureFittings 2024-04-01 2025-03-31 04555028 ns5:MotorVehicles 2024-04-01 2025-03-31 04555028 ns5:ComputerEquipment 2024-04-01 2025-03-31 04555028 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-04-01 2025-03-31 04555028 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-04-01 2024-03-31 04555028 ns5:OwnedAssets 2024-04-01 2025-03-31 04555028 ns5:OwnedAssets 2023-04-01 2024-03-31 04555028 ns10:OrdinaryShareClass1 2023-04-01 2024-03-31 04555028 ns5:PlantMachinery 2024-03-31 04555028 ns5:FurnitureFittings 2024-03-31 04555028 ns5:MotorVehicles 2024-03-31 04555028 ns5:ComputerEquipment 2024-03-31 04555028 ns5:PlantMachinery 2025-03-31 04555028 ns5:FurnitureFittings 2025-03-31 04555028 ns5:MotorVehicles 2025-03-31 04555028 ns5:ComputerEquipment 2025-03-31 04555028 ns5:PlantMachinery 2024-03-31 04555028 ns5:FurnitureFittings 2024-03-31 04555028 ns5:MotorVehicles 2024-03-31 04555028 ns5:ComputerEquipment 2024-03-31 04555028 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 04555028 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 04555028 ns5:WithinOneYear 2025-03-31 04555028 ns5:WithinOneYear 2024-03-31 04555028 ns5:BetweenOneFiveYears 2025-03-31 04555028 ns5:BetweenOneFiveYears 2024-03-31 04555028 ns5:AllPeriods 2025-03-31 04555028 ns5:AllPeriods 2024-03-31 04555028 ns5:AcceleratedTaxDepreciationDeferredTax 2025-03-31 04555028 ns5:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04555028 ns5:DeferredTaxation 2024-03-31 04555028 ns5:DeferredTaxation 2024-04-01 2025-03-31 04555028 ns5:DeferredTaxation 2025-03-31 04555028 ns10:OrdinaryShareClass1 2025-03-31 04555028 ns10:OrdinaryShareClass2 2025-03-31 04555028 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 04555028 ns10:Director2 2 2024-03-31 04555028 ns10:Director2 2 2023-03-31 04555028 ns10:Director2 2 2024-04-01 2025-03-31 04555028 ns10:Director2 2 2023-04-01 2024-03-31 04555028 ns10:Director2 2 2025-03-31 04555028 ns10:Director2 2 2024-03-31 04555028 1 ns10:Director1 2024-03-31 04555028 1 ns10:Director1 2023-03-31 04555028 1 ns10:Director1 2024-04-01 2025-03-31 04555028 1 ns10:Director1 2023-04-01 2024-03-31 04555028 1 ns10:Director1 2025-03-31 04555028 1 ns10:Director1 2024-03-31 04555028 ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-01 2025-03-31 04555028 ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2025-03-31 04555028 ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 04555028 ns5:OtherRelatedParties 2024-04-01 2025-03-31 04555028 ns5:OtherRelatedParties 2025-03-31 04555028 ns5:OtherRelatedParties 2024-03-31 04555028 ns5:OtherRelatedParties 2023-04-01 2024-03-31

REGISTERED NUMBER: 04555028 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Proline Corporation Limited |

Proline Corporation Limited (Registered number: 04555028)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 5 |

Income Statement | 8 |

Other Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 14 |

Proline Corporation Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | S Barnfather

| P T Cogill

| M A Barnfather

| SECRETARY: | S Barnfather

| REGISTERED OFFICE: | Oriel House

| 2 - 8 Oriel Road

| Bootle

| Merseyside

| L20 7EP

| REGISTERED NUMBER: | 04555028 (England and Wales)

| AUDITORS: | SB&P

| Chartered Accountants & Statutory Auditors

| Oriel House

| 2/8 Oriel Road

| Bootle

| Merseyside

| L20 7EP

Proline Corporation Limited (Registered number: 04555028)

Strategic Report

for the Year Ended 31 March 2025

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

Principal Activities

The principal activity of the Company is the design, manufacture, and installation of bespoke counters and fabricated solutions primarily for the hospitality, retail, and commercial fit-out sectors. The Company operates from its manufacturing facility in Liverpool and services clients across the United Kingdom and selected international markets.

There have been no significant changes in the nature of the Company's activities during the year.

REVIEW OF BUSINESS

The Company delivered a strong financial performance during the year.

Turnover increased by £1,148,129 (13.8%) compared with the prior year, reflecting improved market demand, enhanced project execution, and strengthened client relationships. Gross margin reduced marginally, primarily due to increased labour and input costs across the manufacturing process. Despite margin pressure, overall profitability improved due to enhanced cost control and operational efficiencies.

Operating profit is driven by:

- Revenue growth

- Improved overhead management

- Reduced administrative expenditure

- Increased other income

The Directors consider the Company's performance for the year to be strong and reflective of a more efficient and scalable operating structure.

PRINCIPAL RISKS AND UNCERTAINTIES

The Company operates within sectors that are sensitive to broader economic conditions. The principal risks facing the business include:

Economic and Market Risk

Demand for bespoke counters and fit-out solutions is linked to capital expenditure in the hospitality and retail sectors. A downturn in these markets could reduce order volumes.

Cost Inflation Risk

The Company is exposed to fluctuations in raw material costs, wage inflation, and supply chain pressures which may impact margins.

Labour and Skills Risk

Manufacturing operations rely on skilled labour. Recruitment and retention remain ongoing operational priorities.

Project Delivery Risk

The business undertakes bespoke projects which carry timing, specification, and cost risks. Robust project management and procurement controls mitigate this exposure.

The Directors regularly review these risks and maintain appropriate operational and financial controls.

Proline Corporation Limited (Registered number: 04555028)

Strategic Report

for the Year Ended 31 March 2025

SECTION 172(1) STATEMENT

The Directors have acted in a way they consider, in good faith, most likely to promote the success of the Company for the benefit of its members as a whole, having regard to:

Employees

The Company continues to invest in its workforce through training, workplace safety standards, and operational improvements. Employee engagement and retention remain key priorities.

Customers

The Company maintains long-term relationships with key clients by delivering high-quality bespoke solutions, meeting project timelines, and maintaining strong communication throughout the design and installation process.

Suppliers

Strong supplier relationships are maintained to ensure continuity of materials, cost control, and sustainable sourcing.

Community and Environment

The Company operates responsibly within its local community and maintains compliance with environmental standards. Sustainability and responsible sourcing are embedded within procurement and manufacturing processes.

Long-Term Decision Making

Strategic decisions during the year focused on:

- Strengthening operational efficiency

- Improving profitability

- Enhancing financial resilience

- Maintaining a sustainable cost base

The Directors believe these actions support long-term value creation.

FUTURE DEVELOPMENTS

The Company enters the 2026 financial year with:

- A strengthened profitability position

- Improved cost control framework

- Established client relationships

- A stable operational base

While macroeconomic conditions remain uncertain, the Directors remain cautiously optimistic regarding demand across the Company's core markets.

The focus for the coming year will be:

- Protecting gross and net margins

- Enhancing operational productivity

- Investing selectively in capability and equipment

- Maintaining strong cash flow and working capital.

ON BEHALF OF THE BOARD:

S Barnfather - Director

24 March 2026

Proline Corporation Limited (Registered number: 04555028)

Report of the Directors

for the Year Ended 31 March 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture and installation of food serving counters and displays.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 54,766 .

DIRECTORS

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

S Barnfather

P T Cogill

M A Barnfather

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:

S Barnfather - Director

24 March 2026

Report of the Independent Auditors to the Members of

Proline Corporation Limited

Opinion

We have audited the financial statements of Proline Corporation Limited (the 'company') for the year ended 31 March 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 31 March 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.

Report of the Independent Auditors to the Members of

Proline Corporation Limited

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.

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.

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:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- |  | We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK corporate tax laws, UK employment laws and UK health and safety regulations. |

- |  | We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management, reviewing the board meeting minutes, reviewing the Company's accident book, reviewing the schedule of ongoing and potential claims against the Company including those notified to their insurers, and reviewing the legal costs incurred in the year and enquiring with management to the circumstances around these legal costs. |

- |  | We assessed the susceptibility of the Company's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included: |

| - |  | identifying the controls that management has in place to prevent and detect fraud; |

| - |  | challenging assumptions and judgements made by management in its significant accounting estimates; |

| - |  | auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business; |

| - |  | assessing the extent of compliance with the relevant laws and regulations. |

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

Report of the Independent Auditors to the Members of

Proline Corporation Limited

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.

Suzanne Draper FCCA ACA (Senior Statutory Auditor)

for and on behalf of SB&P

Chartered Accountants & Statutory Auditors

Oriel House

2/8 Oriel Road

Bootle

Merseyside

L20 7EP

24 March 2026

Proline Corporation Limited (Registered number: 04555028)

Income Statement

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| as restated |

| Notes | £ | £ |

TURNOVER | 9,486,074 |  | 8,337,945 |  |

Cost of sales | 6,492,320 |  | 5,541,446 |  |

GROSS PROFIT | 2,993,754 |  | 2,796,499 |  |

Administrative expenses | 1,152,654 |  | 1,678,853 |  |

1,841,100 |  | 1,117,646 |  |

Other operating income | - |  | 6,755 |  |

OPERATING PROFIT | 5 | 1,841,100 |  | 1,124,401 |  |

Exceptional items | 7 | - |  | 5,477,816 |  |

1,841,100 |  | (4,353,415 | ) |

Interest receivable and similar income | 115,191 |  | - |  |

PROFIT/(LOSS) BEFORE TAXATION | 1,956,291 |  | (4,353,415 | ) |

Tax on profit/(loss) | 8 | 29,092 |  | 146,724 |  |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 1,927,199 |  | (4,500,139 | ) |

Proline Corporation Limited (Registered number: 04555028)

Other Comprehensive Income

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| as restated |

| Notes | £ | £ |

PROFIT/(LOSS) FOR THE YEAR | 1,927,199 |  | (4,500,139 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,927,199 |  | (4,500,139 | ) |

Proline Corporation Limited (Registered number: 04555028)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 11 | 110,808 |  | 135,600 |  |

CURRENT ASSETS

Stocks | 12 | 151,686 |  | 263,613 |  |

Debtors | 13 | 5,445,665 |  | 4,060,429 |  |

Cash at bank | 2,760,716 |  | 2,189,231 |  |

8,358,067 |  | 6,513,273 |  |

CREDITORS

Amounts falling due within one year | 14 | 2,669,504 |  | 2,715,967 |  |

NET CURRENT ASSETS | 5,688,563 |  | 3,797,306 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,799,371 |  | 3,932,906 |  |

PROVISIONS FOR LIABILITIES | 17 | 27,224 |  | 33,192 |  |

NET ASSETS | 5,772,147 |  | 3,899,714 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 2,500,100 |  | 2,500,100 |  |

Retained earnings | 19 | 3,272,047 |  | 1,399,614 |  |

SHAREHOLDERS' FUNDS | 5,772,147 |  | 3,899,714 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2026 and were signed on its behalf by:

S Barnfather - Director

Proline Corporation Limited (Registered number: 04555028)

Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 April 2023 | 2,475,350 |  | 5,952,673 |  | 24,750 |  | 8,452,773 |  |

Changes in equity

Issue of share capital | 24,750 |  | - |  | (24,750 | ) | - |  |

Dividends | - |  | (52,920 | ) | - |  | (52,920 | ) |

Total comprehensive income | - |  | (4,500,139 | ) | - |  | (4,500,139 | ) |

Balance at 31 March 2024 | 2,500,100 |  | 1,399,614 |  | - |  | 3,899,714 |  |

Changes in equity

Dividends | - |  | (54,766 | ) | - |  | (54,766 | ) |

Total comprehensive income | - |  | 1,927,199 |  | - |  | 1,927,199 |  |

Balance at 31 March 2025 | 2,500,100 |  | 3,272,047 |  | - |  | 5,772,147 |  |

Proline Corporation Limited (Registered number: 04555028)

Cash Flow Statement

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| as restated |

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 190,086 |  | 1,382,666 |  |

Tax paid | 332,503 |  | (330,430 | ) |

Net cash from operating activities | 522,589 |  | 1,052,236 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (7,395 | ) | (24,072 | ) |

Sale of tangible fixed assets | 500 |  | - |  |

Interest received | 115,191 |  | - |  |

Net cash from investing activities | 108,296 |  | (24,072 | ) |

Cash flows from financing activities

Amount introduced by directors | 6,000 |  | 482,530 |  |

Amount withdrawn by directors | (5,999 | ) | (491,490 | ) |

Equity dividends paid | (54,766 | ) | (46,620 | ) |

Net cash from financing activities | (54,765 | ) | (55,580 | ) |

Increase in cash and cash equivalents | 576,120 |  | 972,584 |  |

Cash and cash equivalents at beginning of year | 2 | 2,184,596 |  | 1,212,012 |  |

Cash and cash equivalents at end of year | 2 | 2,760,716 |  | 2,184,596 |  |

Proline Corporation Limited (Registered number: 04555028)

Notes to the Cash Flow Statement

for the Year Ended 31 March 2025

1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Profit/(loss) before taxation | 1,956,291 |  | (4,353,415 | ) |

| Depreciation charges | 29,774 |  | 33,900 |  |

| Loss on disposal of fixed assets | 1,913 |  | - |  |

| Finance income | (115,191 | ) | - |  |

1,872,787 |  | (4,319,515 | ) |

| Decrease/(increase) in stocks | 111,927 |  | (162,782 | ) |

| (Increase)/decrease in trade and other debtors | (1,385,237 | ) | 5,528,951 |  |

| (Decrease)/increase in trade and other creditors | (409,391 | ) | 336,012 |  |

| Cash generated from operations | 190,086 |  | 1,382,666 |  |

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 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 2,760,716 |  | 2,189,231 |  |

| Bank overdrafts | - |  | (4,635 | ) |

2,760,716 |  | 2,184,596 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

| as restated |

£ | £ |

| Cash and cash equivalents | 2,189,231 |  | 1,212,012 |  |

| Bank overdrafts | (4,635 | ) | - |  |

2,184,596 |  | 1,212,012 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 2,189,231 |  | 571,485 |  | 2,760,716 |  |

| Bank overdrafts | (4,635 | ) | 4,635 |  | - |  |

2,184,596 |  | 576,120 |  | 2,760,716 |  |

| Total | 2,184,596 |  | 576,120 |  | 2,760,716 |  |

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Proline Corporation 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 Company 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.

| 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 the 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.

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

| Fixtures and fittings | - | 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 20% 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.

| Financial instruments

| The company's financial instruments comprise trade debtors, cash at bank and an invoice discounting facility.

| Trade debtors are recognised at amortised cost less any provision for impairment. Cash at bank is measured at face value. Financial liabilities are recognised at amortised cost using the effective interest method.

| The company has an invoice discounting facility with a bank which is with recourse to the company and is secured by a floating charge over trade receivables. As the facility is with recourse, trade debtors remain recognised on the balance sheet. No amounts were drawn under this facility at the balance sheet date.

| The company is exposed to credit risk primarily in respect of its trade debtors. Credit risk is managed through ongoing credit assessment of customers and monitoring of outstanding balances. Liquidity risk is managed by maintaining sufficient cash resources and access to the invoice discounting facility to meet short-term working capital requirements. The company is exposed to interest rate risk on cash balances and borrowings; however, this risk is not considered significant.

| The carrying amounts of the company's financial assets and liabilities approximate to their fair value.

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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 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.

| 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.

| Employee 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.

| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. | EMPLOYEES AND DIRECTORS

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Wages and salaries | 2,837,397 |  | 2,820,066 |  |

| Social security costs | 304,595 |  | 307,837 |  |

| Other pension costs | 306,246 |  | 267,459 |  |

3,448,238 |  | 3,395,362 |  |

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

| 31.3.25 |  | 31.3.24

| as restated |

| Management and administration | 18 |  | 15 |  |

| Sales | 1 |  | 1 |  |

| Production | 47 |  | 47 |  |

66 |  | 63 |  |

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | DIRECTORS' EMOLUMENTS

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Directors' remuneration | (124,000 | ) | 199,267 |  |

| Directors' pension contributions to money purchase schemes | 60,880 |  | 60,880 |  |

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

| Money purchase schemes | 2 |  | 2 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Hire of plant and machinery | 816 |  | 1,474 |  |

| Other operating leases | 96,067 |  | 68,942 |  |

| Depreciation - owned assets | 29,774 |  | 33,900 |  |

| Loss on disposal of fixed assets | 1,913 |  | - |  |

6. | AUDITORS' REMUNERATION

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 8,950 |  | 7,500 |  |

| Taxation compliance services | 3,051 |  | 1,940 |  |

| Other non- audit services | 18,803 |  | 21,447 |  |

7. | EXCEPTIONAL ITEMS

| An expense of £5,477,816 in respect of writing off related party loans no longer deemed payable in 2024.

8. | TAXATION

| Analysis of the tax charge

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

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Current tax:

| UK corporation tax | 518,639 |  | 338,874 |  |

| Under/(over) provision | (483,505 | ) | (177,908 | ) |

| HMRC Interest | (74 | ) | (11,941 | ) |

| Total current tax | 35,060 |  | 149,025 |  |

| Deferred tax | (5,968 | ) | (2,301 | ) |

| Tax on profit/(loss) | 29,092 |  | 146,724 |  |

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. | TAXATION - continued

| 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:

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Profit/(loss) before tax | 1,956,291 |  | (4,353,415 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 489,073 |  | (1,088,354 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 23,598 |  | 1,419,778 |  |

| Depreciation in excess of capital allowances | - |  | 5,149 |  |

| Adjustments to tax charge in respect of previous periods | - |  | (177,908 | ) |

| Interest | - |  | (11,941 | ) |

| Overprovision of tax in previous period | (483,579 | ) | - |  |

| Total tax charge | 29,092 |  | 146,724 |  |

9. | DIVIDENDS

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Ordinary Shares shares of £1 each |

| Interim | 54,766 |  | 52,920 |  |

10. | PRIOR YEAR ADJUSTMENT

| Unpaid share capital had previously been disclosed by way of note to the accounts. The amount has now been accounted for as prior year adjustment.

| The impact of the adjustment is as follows:

| Share capital/opening capital at 1st April 2024 has been increased by £2,475,000

| Other debtors/net assets at 1st April 2024 has been increased by £2,475,000

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

11. | TANGIBLE FIXED ASSETS

| Fixtures |

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

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

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 601,724 |  | 24,390 |  | 87,822 |  | 30,297 |  | 744,233 |  |

| Additions | - |  | 3,523 |  | - |  | 3,872 |  | 7,395 |  |

| Disposals | - |  | - |  | (11,264 | ) | - |  | (11,264 | ) |

| At 31 March 2025 | 601,724 |  | 27,913 |  | 76,558 |  | 34,169 |  | 740,364 |  |

| DEPRECIATION

| At 1 April 2024 | 541,162 |  | 8,408 |  | 45,645 |  | 13,418 |  | 608,633 |  |

| Charge for year | 12,113 |  | 3,591 |  | 10,544 |  | 3,526 |  | 29,774 |  |

| Eliminated on disposal | - |  | - |  | (8,851 | ) | - |  | (8,851 | ) |

| At 31 March 2025 | 553,275 |  | 11,999 |  | 47,338 |  | 16,944 |  | 629,556 |  |

| NET BOOK VALUE

| At 31 March 2025 | 48,449 |  | 15,914 |  | 29,220 |  | 17,225 |  | 110,808 |  |

| At 31 March 2024 | 60,562 |  | 15,982 |  | 42,177 |  | 16,879 |  | 135,600 |  |

12. | STOCKS

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Stocks | 76,980 |  | 66,764 |  |

| Work-in-progress | 74,706 |  | 196,849 |  |

151,686 |  | 263,613 |  |

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

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Trade debtors | 2,230,857 |  | 1,412,508 |  |

| Amounts owed by associates | 406,690 |  | - |  |

| Directors' loan accounts | 6,273 |  | 6,274 |  |

| VAT | 152,511 |  | 63,814 |  |

| Called up share capital not paid | 2,475,000 |  | 2,475,000 |  |

| Prepayments and accrued income | 174,334 |  | 102,833 |  |

5,445,665 |  | 4,060,429 |  |

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Bank loans and overdrafts (see note 15) | - |  | 4,635 |  |

| Trade creditors | 599,310 |  | 519,476 |  |

| Amounts owed to associates | 200,000 |  | - |  |

| Tax | 513,137 |  | 145,574 |  |

| Social security and other taxes | 90,720 |  | 69,992 |  |

| Other creditors | 1,003,243 |  | 1,464,849 |  |

| Accruals and deferred income | 263,094 |  | 511,441 |  |

2,669,504 |  | 2,715,967 |  |

15. | LOANS

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

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | - |  | 4,635 |  |

16. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Within one year | 43,982 |  | 21,654 |  |

| Between one and five years | 48,320 |  | 19,917 |  |

92,302 |  | 41,571 |  |

17. | PROVISIONS FOR LIABILITIES

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 27,224 |  | 33,192 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 33,192 |  |

| Credit to Income Statement during year | (5,968 | ) |

| Balance at 31 March 2025 | 27,224 |  |

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

18. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: |  | as restated |

£ | £ |

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

| Allotted and issued:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: |  | as restated |

£ | £ |

| 2,500,000 | 'A' Shares | £1 | 2,500,000 |  | 2,500,000 |  |

19. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 1,399,614 |  |

| Profit for the year | 1,927,199 |  |

| Dividends | (54,766 | ) |

| At 31 March 2025 | 3,272,047 |  |

20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| P T Cogill

| Balance outstanding at start of year | 6,274 |  | 6,274 |  |

| Amounts advanced | 5,999 |  | 6,300 |  |

| Amounts repaid | (6,000 | ) | (6,300 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 6,273 |  | 6,274 |  |

| S Barnfather

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | - |  | 481,556 |  |

| Amounts repaid | - |  | (481,556 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

21. | RELATED PARTY DISCLOSURES

Proline Corporation Limited (Registered number: 04555028)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

21. | RELATED PARTY DISCLOSURES - continued

| Key management personnel of the entity or its parent (in the aggregate)

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Amount due from related parties | 6,273 |  | 6,274 |  |

| Other related parties

| 31.3.25 |  | 31.3.24

| as restated |

£ | £ |

| Amount due from related parties | 228,606 |  | - |  |

| Amount due to related parties | 200,000 |  | - |  |

| Recognised bad or doubtful debts due from related parties | - |  | 5,477,816 |  |

22. | CONTROLLING PARTY

| The controlling party is S Barnfather.