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Registration number: 03579889

Pro Print Group Labels Limited
Annual Report and Financial Statements
for the Period from 1 October 2024 to 31 December 2025

Pro Print Group Labels Limited

Contents

Company Information | 1
Strategic Report | 2 to 3
Directors' Report | 4
Statement of Directors' Responsibilities | 5
Independent Auditor's Report | 6 to 10
Profit and Loss Account | 11
Balance Sheet | 12
Statement of Changes in Equity | 13
Statement of Cash Flows | 14 to 15
Notes to the Financial Statements | 16 to 33

Pro Print Group Labels Limited

Company Information

Directors | I Declerck M Denduyver NJ Tollman

Registered office | 7B Morris Close Park Farm Industrial Estate Wellingborough Northamptonshire NN8 6XF

Auditors | Sumer Auditco Limited 14th Floor 33 Cavendish square London W1G 0PW

Registered number | 03579889

Pro Print Group Labels Limited

Strategic Report for the Period from 1 October 2024 to 31 December 2025

The directors present their strategic report for the period from 1 October 2024 to 31 December 2025.

Principal activity

The principal activity of the company is manufacture of printed labels.

Fair review of the business

The directors are pleased to report that the company has performed well during the year under review, despite the impact globally of the supply of materials.
In addition the company has invested in further plant, machinery and equipment to help underpin the development and growth of the business moving forward and to ensure a high quality of service is maintained.
We work collaboratively with our key strategic suppliers to ensure we operate clean and safe warehouse and offices. We use national contractors for many services e.g. clinical waste, cleaning etc that operate to high professional standards.

The company's key financial and other performance indicators (KPI's) during the period were as follows:

Financial KPIs | Unit | 2025 | 2024
Turnover | £'ks | 15,547 | 11,993
Operating profit | £'ks | 1,441 | 1,537

Other KPI's | 15 Month period ended 31 December 2025 | 12 Month period ended 30 September 2024
Inventory turnover | 5.80 | 4.70

Pro Print Group Labels Limited

Strategic Report for the Period from 1 October 2024 to 31 December 2025

Principal risks and uncertainties

The directors have carried out an assessment of the principal risks facing the company, including emerging risks, that would threaten its business model, future performance, solvency or liquidity.
Outlined below are the company's principal risks and uncertainties. These are the principal risks of the company as a whole and are not in any order of priority.
The company is exposed to a variety of other risks related to a range of issues such as human resources and talent, community relations, the regulatory environment and competition. These are all managed as part of the risk process at board level.
Workplace health and safety;
Product safety and quality;
Breaches of IT and information security;
Use of natural resources and managing our environmental impact; and
Supply chain and ethical business practices.

Approved and authorised by the Board on 17 April 2026 and signed on its behalf by:

......................................... M Denduyver Director

Pro Print Group Labels Limited

Directors' Report for the Period from 1 October 2024 to 31 December 2025

The directors present their report and the financial statements for the period from 1 October 2024 to 31 December 2025.

Directors of the company

The directors who held office during the period were as follows:

I Declerck (appointed 3 September 2025)

M Denduyver (appointed 3 September 2025)

NJ Tollman

JM Denny (ceased 3 September 2025)

Going concern

In preparing these financial statement the directors have assessed the ability of the company to continue to operate for the period of at least twelve months from the date of signing the financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from that date of signing these financial statements and accordingly they adopt the going concern basis in preparing these financial statements.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

The auditors, Sumer Auditco Limited were appointed as auditors and will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

Approved and authorised by the Board on 17 April 2026 and signed on its behalf by:

......................................... M Denduyver Director

Pro Print Group Labels Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the 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 apply them consistently;

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

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | 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.

Pro Print Group Labels Limited

Independent Auditor's Report to the Members of Pro Print Group Labels Limited

Opinion

We have audited the financial statements of Pro Print Group Labels Limited (the 'company') for the period from 1 October 2024 to 31 December 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the period then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor 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.

Pro Print Group Labels Limited

Independent Auditor's Report to the Members of Pro Print Group Labels Limited

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 original financial statements were 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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter 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 Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

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

Pro Print Group Labels Limited

Independent Auditor's Report to the Members of Pro Print Group Labels Limited

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, 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 director's 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 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

Auditor Responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In order to identify and assess the risks of material misstatements, including fraud and non-compliance withlaws and regulations that could be expected to have a material impact on the financial statements we have considered:

• | the results of enquiries of management and those in charged with governance of their assessment of the risks of fraud and irregularities;
• | the nature of the company, including its management structure and control systems (including the opportunity for management to override such controls);
• | management's incentives and opportunities for fraudulent manipulation of the financial statements including the company's remuneration and bonus policies and performance targets; and
• | the industry and environment in which it operates

Pro Print Group Labels Limited

Independent Auditor's Report to the Members of Pro Print Group Labels Limited

| We also considered UK tax legislation, laws and regulations relating to employment, pension legislation and the preparation and presentation of the financial statements such as the Companies Act 2006. Based on this understanding, we identified the following matters as being of significance to the entity:
• | Laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, Company law, tax legislation and pension legislation;
• | the timing of the recognition of income and correct calculation of accrued and deferred income
• | completeness of creditors
• | management bias in selecting accounting policies and determining estimates
• | inappropriate journal entries
• | manipulation of specific performance measures to meet remuneration targets
• | the valuation of stock ensuring it is recorded at the lower of cost and net realisable value
• | recoverability of debtors including retentions from customers; and
• | the requirement to impair intangible and fixed asset investments.
| We have communicated the outcomes of these discussions and enquiries, as well as consideration as to where and how fraud may occur in the entity, to all engagement team members.
| Auditors’ procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of:
• | enquiries of management and those charged with the governance as to whether the entity complies with such laws and regulations;
• | enquiries with the same concerning any actual or potential litigation or claims;
• | discussion with the same regarding any known or suspected instances of non-compliance with laws and regulation and fraud;
• | inspection of relevant legal correspondence
• | assessment of matters reported to management and the result of the subsequent investigation
• | obtaining an understanding of the relevant controls and testing their operation during the period
• | obtaining an understanding of the policies and controls, including over the recognition of income and testing their implementation during the year;
• | review documentation relating to compliance with the regulations relating to GDPR, and Health and Safety.
• | challenging assumptions made by management in their specific accounting policies and estimates, in particular in relation to accounting for depreciation of tangible fixed assets; and impairment of investments
• | identifying and testing Journal entries, in particular any unusual journal entries and non-standard journal entries;

Pro Print Group Labels Limited

Independent Auditor's Report to the Members of Pro Print Group Labels Limited

• | assessing the recovery of debtors, in the period since the balance sheet date and challenging assumptions made by the management regarding the recovery of balances which remain outstanding;
• | reviewing the financial statements for compliance with the relevant disclosure requirements
• | reviewing cut-off procedures and third-party evidence such as supplier statements to obtain confirmation of completeness of creditors
• | reviewing the minutes of Board meetings and correspondence with HMRC
• | evaluating the underlying business reasons for any unusual transactions; and
• | considered the implementation of controls during the year.
| No instance of material non-compliance was identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that results from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
| performing analytical procedures to identify any unusual or unexpected relationships or unexpected movements in account balances which may be indicative of fraud

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

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

......................................
Atulya Mehta FCCA (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited, Statutory Auditor
14th Floor
33 Cavendish square
London
W1G 0PW

17 April 2026

Pro Print Group Labels Limited

Profit and Loss Account for the Period from 1 October 2024 to 31 December 2025

| Note | 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Turnover | 3 | 15,547,117 | 11,993,267
Cost of sales |  | (7,261,048) | (5,417,357)
Gross profit |  | 8,286,069 | 6,575,910
Administrative expenses |  | (6,845,185) | (5,039,082)
Operating profit | 5 | 1,440,884 | 1,536,828
Other interest receivable and similar income | 6 | 38,133 | 15,620
Interest payable and similar expenses | 7 | (109,829) | (90,084)
|  | (71,696) | (74,464)
Profit before tax |  | 1,369,188 | 1,462,364
Tax on profit | 11 | (386,952) | (375,614)
Profit for the financial period |  | 982,236 | 1,086,750

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

Pro Print Group Labels Limited

(Registration number: 03579889)
Balance Sheet as at 31 December 2025

| Note | 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Fixed assets |  |  |
Tangible assets | 12 | 3,384,218 | 4,819,078
Current assets |  |  |
Stocks | 13 | 1,132,334 | 1,179,599
Debtors | 14 | 2,767,032 | 1,639,203
Cash at bank and in hand |  | 1,966,840 | 1,336,316
|  | 5,866,206 | 4,155,118
Creditors: Amounts falling due within one year | 16 | (2,567,522) | (2,820,046)
Net current assets |  | 3,298,684 | 1,335,072
Total assets less current liabilities |  | 6,682,902 | 6,154,150
Creditors: Amounts falling due after more than one year | 16 | (799,404) | (993,909)
Provisions for liabilities | 17 | (886,586) | (945,565)
Net assets |  | 4,996,912 | 4,214,676
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Retained earnings | 20 | 4,995,912 | 4,213,676
Shareholders' funds |  | 4,996,912 | 4,214,676

Approved and authorised by the Board on 17 April 2026 and signed on its behalf by:

......................................... M Denduyver Director

Pro Print Group Labels Limited

Statement of Changes in Equity for the Period from 1 October 2024 to 31 December 2025

| Share capital £ | Retained earnings £ | Total £
At 1 October 2024 | 1,000 | 4,213,676 | 4,214,676
Profit for the period | - | 982,236 | 982,236
Dividends | - | (200,000) | (200,000)
At 31 December 2025 | 1,000 | 4,995,912 | 4,996,912

| Share capital £ | Retained earnings £ | Total £
At 1 October 2023 | 1,000 | 3,366,926 | 3,367,926
Profit for the period | - | 1,086,750 | 1,086,750
Dividends | - | (240,000) | (240,000)
At 30 September 2024 | 1,000 | 4,213,676 | 4,214,676

Pro Print Group Labels Limited

Statement of Cash Flows for the Period from 1 October 2024 to 31 December 2025

| Note | 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Cash flows from operating activities
Profit for the period |  | 982,236 | 1,086,750
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 5 | 975,854 | 772,808
Profit on disposal of tangible assets | 4 | (579,237) | (21,000)
Finance income | 6 | (38,133) | (15,620)
Finance costs | 7 | 109,829 | 90,084
Income tax expense | 11 | 386,952 | 375,614
|  | 1,837,501 | 2,288,636
Working capital adjustments |  |  |
Decrease/(increase) in stocks | 13 | 47,265 | (70,590)
Increase in trade debtors | 14 | (1,127,829) | (36,637)
(Decrease)/increase in trade creditors | 16 | (349,097) | 315,002
Cash generated from operations |  | 407,840 | 2,496,411
Income taxes paid | 11 | (311,367) | (114,571)
Net cash flow from operating activities |  | 96,473 | 2,381,840
Cash flows from investing activities |  |  |
Interest received | 6 | 38,133 | 15,620
Acquisitions of tangible assets |  | (233,509) | (907,475)
Proceeds from sale of tangible assets |  | 1,271,751 | 112,000
Net cash flows from investing activities |  | 1,076,375 | (779,855)
Cash flows from financing activities |  |  |
Interest paid | 7 | (109,829) | (90,084)
Repayment of bank borrowing |  | - | (146,309)
Payments to finance lease creditors |  | (232,495) | (652,997)
Dividends paid | 23 | (200,000) | (240,000)
Net cash flows from financing activities |  | (542,324) | (1,129,390)
Net increase in cash and cash equivalents |  | 630,524 | 472,595
Cash and cash equivalents at 1 October |  | 1,336,316 | 863,721

Pro Print Group Labels Limited

Statement of Cash Flows for the Period from 1 October 2024 to 31 December 2025

| Note | 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Cash and cash equivalents at 31 December |  | 1,966,840 | 1,336,316

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7B Morris Close
Park Farm Industrial Estate
Wellingborough
Northamptonshire
NN8 6XF

These financial statements were authorised for issue by the Board on 17 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006.The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires the company management to exercise judgement in applying the Company's accounting policies (see note 3).

Going concern

The financial statements have been prepared on a going concern basis. The directors report has further detail on going concern.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.
Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors consider the following to be significant areas of judgement and key accounting estimates:
- Valuation of stock and stock provisions is an area of key accounting estimate. The entity's policy in relation to stock provisioning is therefore to provide for obsolete, slow moving and defective stock, and therefore ensure that stock is held at the most appropriate estimate of net realisable value;
- Depreciation of tangible fixed assets respectively are also key accounting estimates. Depreciation is estimated based upon the expected useful lives of the company's tangible fixed assets.

Revenue recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods).
Revenue is shown net of sales/value added tax, returns, rebates and discounts.

Finance costs

Finance costs are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company’s policy on borrowing costs.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 25% straight line
Land | not depreciated
Plant and machinery | 10% to 25% on a straight line basis
Furniture and Fixtures | 25% on a straight line basis
Financed lease | over the length of the lease on a straight line basis

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

Invoice discounting facility

The company has an invoice discounting facility whereby substantially all of the benefits and risks of the debts are retained by the company. It is therefore appropriate to adopt a separate presentation whereby gross debts are included in the Balance sheet within debtors and a corresponding liability in respect of the proceeds received from the invoice discounting facilitator shown within secured liabilities. Discounting charges are recognised as they accrued and are included within bank charges and similar charges.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

3 | Turnover

The analysis of the company's turnover for the period from continuing operations is as follows:

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Sale of goods | 15,547,117 | 11,993,267

The analysis of the company's turnover for the period by market is as follows:

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
UK | 14,771,360 | 11,912,631
Europe | 775,757 | 80,636
| 15,547,117 | 11,993,267

4 | Other gains and losses

The analysis of the company's other gains and losses for the period is as follows:

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Gain on disposal of tangible assets | 579,237 | 21,000

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

5 | Operating profit

Arrived at after charging/(crediting)

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Depreciation expense | 975,854 | 772,808
Operating lease expense - plant and machinery | 64,038 | 61,097
Profit on disposal of property, plant and equipment | (579,237) | (21,000)

6 | Other interest receivable and similar income

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Interest income on bank deposits | 37,954 | 15,620
Other finance income | 179 | -
| 38,133 | 15,620

7 | Interest payable and similar expenses

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Interest on bank overdrafts and borrowings | 5,605 | 9,059
Interest expense on other finance liabilities | 146 | 24
Other finance costs | 104,078 | 81,001
| 109,829 | 90,084

8 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Wages and salaries | 3,812,958 | 2,462,100
Social security costs | 473,011 | 252,872
Pension costs, defined contribution scheme | 193,966 | 58,651
| 4,479,935 | 2,773,623

The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:

| 15 Month period 31 December 2025 No. | 12 Month period ended 30 September 2024 No.
Production | 50 | 47
Administration and support | 21 | 16
Sales, marketing and distribution | 5 | 6
| 76 | 69

9 | Directors' remuneration

The directors' remuneration for the period was as follows:

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Remuneration | 133,862 | 144,129

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

10 | Auditors' remuneration

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Audit of the financial statements | 15,000 | 12,000

11 | Taxation

Tax charged/(credited) in the profit and loss account

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Current taxation |  |
UK corporation tax | 445,931 | 311,367
Deferred taxation |  |
Arising from origination and reversal of timing differences | (58,979) | 64,247
Tax expense in the income statement | 386,952 | 375,614

The tax on profit before tax for the period is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Profit before tax | 1,369,188 | 1,462,364
Corporation tax at standard rate | 342,297 | 365,591

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

| 15 Month period 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Tax increase/(decrease) from effect of capital allowances and depreciation | 36,089 | (54,224)
Deferred tax (credit)/expense relating to changes in tax rates or laws | (58,978) | 64,247
Tax increase from effect of indexation allowance on capital gains | 67,544 | -
Total tax charge | 386,952 | 375,614

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

12 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 October 2024 | 1,006,655 | 259,898 | 14,375 | 7,328,948 | 8,609,876
Additions | 14,151 | 25,597 | - | 193,761 | 233,509
Disposals | (970,753) | - | - | (145,385) | (1,116,138)
At 31 December 2025 | 50,053 | 285,495 | 14,375 | 7,377,324 | 7,727,247
Depreciation
At 1 October 2024 | 299,688 | 148,626 | 8,385 | 3,334,099 | 3,790,798
Charge for the period | 6,257 | 52,972 | 4,493 | 912,133 | 975,855
Eliminated on disposal | (278,239) | - | - | (145,385) | (423,624)
At 31 December 2025 | 27,706 | 201,598 | 12,878 | 4,100,847 | 4,343,029
Carrying amount
At 31 December 2025 | 22,347 | 83,897 | 1,497 | 3,276,477 | 3,384,218
At 30 September 2024 | 706,967 | 111,272 | 5,990 | 3,994,849 | 4,819,078

Included within the net book value of land and buildings above is £Nil (2024 - £605,291) in respect of freehold land and buildings and £22,347 (2024 - £101,676) in respect of long leasehold land and buildings.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

| 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Plant and machinery | 2,987,141 | 3,782,562

13 | Stocks

| 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Raw materials and consumables | 597,504 | 595,819
Work in progress | 60,178 | 51,040
Finished goods and goods for resale | 474,652 | 532,740
| 1,132,334 | 1,179,599

14 | Debtors

Current | Note | 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Trade debtors |  | 1,546,158 | 1,563,766
Amounts owed by related parties | 25 | 1,118,151 | -
Prepayments |  | 102,723 | 75,437
|  | 2,767,032 | 1,639,203

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

15 | Cash and cash equivalents

| 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Cash at bank | 1,951,901 | 1,301,682
Other cash and cash equivalents | 14,939 | 34,634
| 1,966,840 | 1,336,316

16 | Creditors

| Note | 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Due within one year |  |  |
Loans and borrowings | 21 | 472,330 | 510,320
Trade creditors |  | 1,054,201 | 1,444,778
Amounts due to related parties | 25 | - | 60,000
Social security and other taxes |  | 293,108 | 144,733
Other payables |  | 5,284 | 14,945
Accruals |  | 296,668 | 333,903
Income tax liability | 11 | 445,931 | 311,367
|  | 2,567,522 | 2,820,046
Due after one year |  |  |
Loans and borrowings | 21 | 799,404 | 993,909

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

17 | Provisions for liabilities

| Deferred tax £ | Total £
At 1 October 2024 | 945,565 | 945,565
Increase (decrease) in existing provisions | (58,979) | (58,979)
At 31 December 2025 | 886,586 | 886,586

The deferred tax liability for both periods is made up of the provision for accelerated capital allowances.

18 | Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £193,966 (2024 - £58,651).
Contributions totalling £13,233 (2023 - £12,467) were payable to the scheme at the end of the year and are included in creditors.

19 | Share capital

Allotted, called up and fully paid shares

| 15 Month period ended 31 December 2025 | 12 Month period ended 30 September 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1,000 | 1,000 | 1,000 | 1,000

20 | Reserves

Profit and loss reserve
The profit and loss account represents the accumulated profits, losses and distributions of the Company.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

21 | Loans and borrowings

Non-current loans and borrowings

| 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Hire purchase contracts | 799,404 | 993,909

Current loans and borrowings

| 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Hire purchase contracts | 472,330 | 510,320

Included in the loans and borrowings are the following amounts due after more than five years:

| 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Hire Purchase contracts due after 5 years | - | 75,118

| - | -

The bank borrowings are secured by a fixed and floating charge over all the assets of the company.
The hire purchase obligations are secured by the assets to which they relate. They are over 5 to 10 year contracts with the expectation to buy the asset at the end of the contract.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

22 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 15 Month period ended 31 December 2025 £ | 12 Month period ended 30 September 2024 £
Not later than one year | 334,100 | 227,500
Later than one year and not later than five years | 1,309,750 | 910,000
Later than five years | 151,667 | 455,000
| 1,795,517 | 1,592,500

23 | Dividends

|  | 15 Month period ended 31 December 2025 |  | 12 Month period ended 30 September 2024
|  | £ |  | £
Interim dividend of £200.00 (2024 - £240.00) per ordinary share |  | 200,000 |  | 240,000

24 | Contingent liabilities

The company has a financial obligation to reinstate the property to its original condition at the end of the operating lease in 2031. There is an uncertainty relating to the amount or timing of any outflow as no valuation on the future cost has been carried out by the company at the year end.

25 | Related party transactions

During the year the company had management charges of £111,849 from its parent company, Packaging PrintCo NV.

26 | Ultimate controlling party

The smallest and largest group for which consolidated financial statements are prepared which includes the results of this company is that headed by Asteria Holding BV, whose registered office is at Nijverheidslaan 34 8560 Gullegem - Belgium.

Pro Print Group Labels Limited

Notes to the Financial Statements for the Period from 1 October 2024 to 31 December 2025

27 | Financial instruments

Categorisation of financial instruments

| 31 December 2025 £ | 30 September 2024 £
Financial assets measured at fair value through profit or loss | 1,959,808 | 1,336,316
Financial assets that are debt instruments measured at amortised cost | 1,546,158 | 1,536,766
Financial liabilities measured at amortised cost | 2,624,328 | 3,168,685

Financial assets measured at fair value through profit and loss comprises cash at bank.
Financial assets that are debt instruments measured at amortised cost comprise trade debtors and other debtors.
Financial liabilities measured at amortised cost comprise trade creditors, other creditors, loans and borrowings, related party transactions and pension liabilities.