Banana Split Limited - Limited company accounts 25.1

REGISTERED NUMBER: 01602669 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Period 1 February 2024 to 30 January 2025

for

Banana Split Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

16

DIRECTORS:

D Godfrey

J D Posner

A D Posner

J H Simon

REGISTERED OFFICE:

6 Colindale Business Park

Carlisle Road

London

NW9 0HN

REGISTERED NUMBER:

01602669 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

First Floor

Spitalfields House

Stirling Way

Borehamwood

Hertfordshire

WD6 2FX

The directors present their strategic report for the period 1 February 2024 to 30 January 2025.

Principle Activities and review of the business

The principal activity of the company during the year under review was that of special events organisers.

REVIEW OF BUSINESS

Trading year

The Company achieved sales of almost £19m with a Gross Profit Percentage of 28%. Whilst trading has not continued at the exceptional level achieved in the previous year, it is above the level of the year to January 2023.

The pipeline of events/project wins remains strong and we have continue to strengthen our brand, developing both our UK and International business base.

Turnover & Profitability

A summary of the Company's financial results for the year ended 31 January 2025 are set out below:

January 2025

January 2024

Turnover

£18,977,024

£33,907,122

Gross Profit

£5,274,373

£12,228,260

Profit / (Loss) before tax

£1,516,657

£9,250,549

Shareholders' Funds

£4,143,510

£4,085,994

The market remains active and whilst we are cautious because of the economic conditions, the outlook for the current year is encouraging with a good pipeline of projects.

Future Developments

Our secured workload for the next financial year will strengthen the company's balance sheet position and allow the company to continue with the planned growth of the business.

The directors recognise that the economic outlook of the UK for the coming year remains challenging, however, given our international reach and reputation, we are well placed to move strongly ahead.

The directors are satisfied that the Company has sufficient resources and liquidity to enable it to not only continue as a going concern for the foreseeable future but to also ensure the Company continues to invest in its infrastructure and staff so that it is in a stable and profitable position going forward.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's operations expose it to a variety of financial risks including competition/exchange rate risk, price risk, credit risk and liquidity risk. There are a number of controls in place to limit the adverse effects of these risks on the financial performance of the company:

Competition/Exchange Rate Risk

Like all companies carrying out similar activities, the company is subject to strong competition from larger companies in the same trade and this may affect the gross margin achieved from its sales. As a result, the company has established good relationships with its suppliers at lower prices to enable to compete with its competitors.

The company is exposed to the risk of currency fluctuation as some of its events are priced in US dollars or Euros. The directors are aware of this risk but are confident that the company has sufficient cash flow to finance its costs.

Price Risk

The company is exposed to general price risk as a result of its operations. Management keep this aspect of the company's affairs under constant review.

Credit Risk

Credit is only offered to companies after references have been taken up and an appropriate level reached depending on the customers trading history.

Liquidity Risk

The company ensures there are sufficient funds available to operate. Cash flow forecasts are prepared, monitored and adjusted when necessary as part of this process.

Legal Risk

The company, from time to time, can be exposed to legal claims. The company will ensure adequate procedures and policies are implemented and legal advisors deployed to ensure that the risk of litigation is mitigated and managed accordingly.

ON BEHALF OF THE BOARD:

J D Posner - Director

27 April 2026

The directors present their report with the financial statements of the company for the period 1 February 2024 to 30 January 2025.

DIVIDENDS

During the year the company paid dividends of £1,000,000.

DIRECTORS

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

D Godfrey

J D Posner

A D Posner

J H Simon

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.

AUDITORS

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J D Posner - Director

27 April 2026

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 January 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are 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.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- We considered the nature of the industry, the control environment and business performance, including the key drivers for management's remuneration;

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all 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.

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.

Michael Marcus FCA FCCA (Senior Statutory Auditor)

for and on behalf of TC Group

Statutory Auditor

First Floor

Spitalfields House

Stirling Way

Borehamwood

Hertfordshire

WD6 2FX

27 April 2026

TURNOVER

3

18,977,024

33,907,122

Cost of sales

(13,702,651

)

(21,678,862

)

GROSS PROFIT

5,274,373

12,228,260

Administrative expenses

(3,749,816

)

(3,212,843

)

OPERATING PROFIT

5

1,524,557

9,015,417

Interest receivable and similar income

22,351

280,550

1,546,908

9,295,967

Interest payable and similar expenses

6

(30,251

)

(45,418

)

PROFIT BEFORE TAXATION

1,516,657

9,250,549

Tax on profit

7

(459,140

)

(2,168,487

)

PROFIT FOR THE FINANCIAL PERIOD

1,057,517

7,082,062

PROFIT FOR THE PERIOD

1,057,517

7,082,062

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME

FOR THE PERIOD

1,057,517

7,082,062

Note

Prior year adjustment

9

123,960

TOTAL COMPREHENSIVE INCOME

SINCE LAST ANNUAL REPORT

1,181,477

FIXED ASSETS

Tangible assets

10

1,828,100

1,775,371

Investments

11

2

1,828,102

1,775,373

CURRENT ASSETS

Debtors

12

1,897,829

1,286,170

Cash at bank and in hand

2,127,589

6,926,935

4,025,418

8,213,105

CREDITORS: AMOUNTS FALLING

DUE WITHIN ONE YEAR

13

(1,595,470

)

(5,627,327

)

NET CURRENT ASSETS

2,429,948

2,585,778

TOTAL ASSETS LESS CURRENT

LIABILITIES

4,258,050

4,361,151

CREDITORS: AMOUNTS FALLING

DUE AFTER MORE THAN ONE YEAR

14

(114,540

)

(275,157

)

NET ASSETS

4,143,510

4,085,994

CAPITAL AND RESERVES

Called up share capital

18

173,008

Share premium

19

5,822

Retained earnings

19

3,964,680

3,907,164

4,143,510

4,085,994

The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2026 and were signed on its behalf by:

J D Posner - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

Balance at 1 February 2023

172,528

825,102

5,822

1,003,452

Changes in equity

Issue of share capital

480

-

480

Dividends

-

(4,000,000

)

-

(4,000,000

)

Total comprehensive income

-

6,958,102

-

6,958,102

Balance at 31 January 2024

173,008

3,783,204

5,822

3,962,034

Prior year adjustment

-

123,960

-

123,960

As restated

173,008

3,907,164

5,822

4,085,994

Changes in equity

Dividends

-

(1,000,000

)

-

(1,000,000

)

Total comprehensive income

-

1,057,517

-

1,057,517

Balance at 30 January 2025

173,008

3,964,681

5,822

4,143,511

Cash flows from operating activities

Cash generated from operations

1

1,305,920

6,861,773

Interest paid

(28,625

)

(45,232

)

Interest element of hire purchase payments

paid

(1,626

)

(186

)

Tax paid

(1,684,000

)

(1,170,594

)

Net cash from operating activities

(408,331

)

5,645,761

Cash flows from investing activities

Purchase of tangible fixed assets

(361,263

)

(509,758

)

Sale of tangible fixed assets

72,255

78,333

Interest received

22,351

280,550

Net cash from investing activities

(266,657

)

(150,875

)

Cash flows from financing activities

Capital repayments in year

(12,243

)

(15,963

)

Amount introduced by directors

2

-

Amount withdrawn by directors

(3,112,117

)

2,083,526

Share issue

-

480

Equity dividends paid

(1,000,000

)

(4,000,000

)

Net cash from financing activities

(4,124,358

)

(1,931,957

)

(Decrease)/increase in cash and cash equivalents

(4,799,346

)

3,562,929

Cash and cash equivalents at beginning of

period

2

6,926,935

3,364,006

Cash and cash equivalents at end of

period

2

2,127,589

6,926,935

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

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Profit before taxation

1,516,657

9,250,549

Depreciation charges

272,497

238,103

Profit on disposal of fixed assets

(36,217

)

(13,366

)

Finance costs

30,251

45,418

Finance income

(22,351

)

(280,550

)

1,760,837

9,240,154

(Increase)/decrease in trade and other debtors

(1,500,353

)

599,588

Increase/(decrease) in trade and other creditors

1,045,436

(2,977,969

)

Cash generated from operations

1,305,920

6,861,773

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:

Period ended 30 January 2025

30.1.25

1.2.24

£

Cash and cash equivalents

2,127,589

6,926,935

Year ended 31 January 2024

31.1.24

1.2.23

as restated

£

Cash and cash equivalents

6,926,935

3,364,006

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.24

Cash flow

At 30.1.25

£

Net cash

Cash at bank and in hand

6,926,935

(4,799,346

)

2,127,589

6,926,935

(4,799,346

)

2,127,589

Debt

Finance leases

(26,525

)

12,243

(14,282

)

Debts falling due within 1 year

(150,000

)

-

(150,000

)

Debts falling due after 1 year

(262,500

)

150,000

(112,500

)

(439,025

)

162,243

(276,782

)

Total

6,487,910

(4,637,103

)

1,850,807

1.	STATUTORY INFORMATION

Banana Split 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.

Preparation of consolidated financial statements

The financial statements contain information about Banana Split Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. There were no significant judgements or estimates that affect the financial statements.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

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

Hire purchase and leasing commitments

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

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

Pension costs and other post-retirement benefits

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

Going concern

The directors have considered the company’s financial resources and performance and believe that the company is well placed to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Impairment of fixed assets and investments

At each reporting period end date, the company reviews the carrying amounts of its tangible assets and investments to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

United Kingdom

9,609,294

15,511,892

Europe

9,325,551

7,685,608

Asia

42,179

10,709,622

18,977,024

33,907,122

4.	EMPLOYEES AND DIRECTORS

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Wages and salaries

1,999,765

1,571,075

Social security costs

248,914

195,331

Other pension costs

28,661

23,794

2,277,340

1,790,200

The average number of employees during the period was as follows:

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

Directors

4

Administration

27

22

31

26

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Directors' remuneration

643,008

611,958

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

Money purchase schemes

3

Information regarding the highest paid director is as follows:

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Emoluments etc

221,590

241,516

5.	OPERATING PROFIT

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

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Depreciation - owned assets

271,531

238,103

Depreciation - assets on hire purchase contracts

13,942

-

Profit on disposal of fixed assets

(36,217

)

(13,366

)

Auditors' remuneration

10,000

Foreign exchange differences

51,899

92,475

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Bank loan interest

28,625

40,132

Interest on overdue tax

-

5,100

Hire purchase

1,626

186

30,251

45,418

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Current tax:

UK corporation tax

459,140

2,168,487

Tax on profit

459,140

2,168,487

Reconciliation of total tax charge included in profit and loss

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

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

Profit before tax

1,516,657

9,250,549

Profit multiplied by the standard rate of corporation tax in the UK of 25%

(2024 - 24%)

379,164

2,220,132

Effects of:

Expenses not deductible for tax purposes

49,886

25,318

Capital allowances in excess of depreciation

-

(50,957

)

Depreciation in excess of capital allowances

9,357

-

Adjustments to tax charge in respect of previous periods

29,788

(26,006

)

Profit on disposal of fixed assets

(9,055

)

-

Total tax charge

459,140

2,168,487

8.

DIVIDENDS

Period

1.2.24

to

Year Ended

30.1.25

31.1.24

as restated

£

shares of each

Interim

1,000,000

4,000,000

9.	PRIOR YEAR ADJUSTMENT

The prior year adjustment arises from a review of provisions relating to corporation tax and VAT. This has resulted in an increase in prior year profits of £123,960 and a decrease in the VAT provision within creditors falling due within one year of £653,960 and an increase in corporation tax payable of £530,000 within creditors falling due within one year.

10.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 February 2024

15,777

2,022,649

354,093

32,655

2,425,174

Additions

-

154,940

206,323

-

361,263

Disposals

-

(136,945

)

-

(136,945

)

At 30 January 2025

15,777

2,177,589

423,471

32,655

2,649,492

DEPRECIATION

At 1 February 2024

11,832

473,279

134,278

17,437

636,826

Charge for period

-

187,641

86,947

10,885

285,473

Eliminated on disposal

-

(100,907

)

-

(100,907

)

At 30 January 2025

11,832

660,920

120,318

28,322

821,392

NET BOOK VALUE

At 30 January 2025

3,945

1,516,669

303,153

4,333

1,828,100

At 31 January 2024

3,945

1,549,370

219,815

15,218

1,788,348

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

Motor

vehicles

£

COST

At 1 February 2024

and 30 January 2025

97,939

DEPRECIATION

At 1 February 2024

38,618

Charge for period

13,942

At 30 January 2025

52,560

NET BOOK VALUE

At 30 January 2025

45,379

At 31 January 2024

59,321

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2024

and 30 January 2025

2

NET BOOK VALUE

At 30 January 2025

2

At 31 January 2024

2

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

JDPA Limited

Registered office: 88 Crawford Street, London, W1H 2EJ

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

30.1.25

31.1.24

£

Aggregate capital and reserves

2

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.1.25

31.1.24

as restated

£

Trade debtors

795,182

429,036

Other debtors

1,102,647

857,134

1,897,829

1,286,170

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.1.25

31.1.24

as restated

£

Bank loans and overdrafts (see note 15)

150,000

Hire purchase contracts (see note 16)

12,242

13,868

Trade creditors

654,420

231,485

Tax

98,466

1,323,326

Social security and other taxes

74,662

67,864

VAT

175,563

239,036

Other creditors

230,233

181,941

Directors' current accounts

13,441

3,125,556

Accruals and deferred income

186,443

294,251

1,595,470

5,627,327

14.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR

30.1.25

31.1.24

as restated

£

Bank loans (see note 15)

112,500

262,500

Hire purchase contracts (see note 16)

2,040

12,657

114,540

275,157

15.

LOANS

An analysis of the maturity of loans is given below:

30.1.25

31.1.24

as restated

£

Amounts falling due within one year or on demand:

Bank loans

150,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

112,500

150,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

112,500

16.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.1.25

31.1.24

as restated

£

Gross obligations repayable:

Within one year

12,242

13,868

Between one and five years

2,040

16,179

14,282

30,047

Finance charges repayable:

Between one and five years

-

3,522

Net obligations repayable:

Within one year

12,242

13,868

Between one and five years

2,040

12,657

14,282

26,525

Non-cancellable

operating leases

30.1.25

31.1.24

as restated

£

Within one year

125,000

123,000

Between one and five years

492,000

In more than five years

165,583

290,583

782,583

905,583

17.	SECURED DEBTS

The following secured debts are included within creditors:

30.1.25

31.1.24

as restated

£

Bank loans

262,500

412,500

The bank loans and overdrafts are secured by a fixed and floating in favour of the company's bankers.

18.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominalvalue:

30.1.25

31.1.24

£

131,118

A Ordinary

£1

131,118

131,122

27,604

B Ordinary

£1

27,604

118

C Ordinary

£1

118

360

D Ordinary

£1

360

2

E Ordinary

£1

2

6901

F Ordinary

£1

6,901

6901

G Ordinary

£1

6,901

2

H Ordinary

£1

2

I Ordinary

£1

2

173,008

The shares rank pari-passu as regards dividend excepts that seperate dividends can be declared on each class.

The A Ordinary, B Ordinary, F Ordinary and G Ordinary have voting rights; the other classes are non-voting.

19.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 February 2024

3,783,203

5,822

3,789,025

Prior year adjustment

123,960

3,907,163

3,912,985

Profit for the period

1,057,517

Dividends

(1,000,000

)

(1,000,000

)

At 30 January 2025

3,964,680

5,822

3,970,502

20.	RELATED PARTY DISCLOSURES

During the period, total dividends of £1,000,000 were paid to the directors .

During the year the company loaned £837,928 to a company with a director in common. The amount owed at the year end was £837,928 (2024: £734,556).

During the year the company alos loaned £157,097 to a company with a director in common. The amount owed at the year end was £157,097 (2024: £nil).

During the year the company paid rent of £68,000 (2024: £68,000) to a company with a director and shareholder in common. The amount owed at the year end was £nil (2024: £31,000l)

21.	ULTIMATE CONTROLLING PARTY

The company was under the control of J D Posner (Director).