REGISTERED NUMBER: 04169373 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

DPS TABLEWARE LIMITED

Page

Company information

1

Strategic report

2

to

4

Report of the directors

5

to

6

Report of the independent auditors

7

to

10

Statement of income and retained earnings

11

Statement of financial position

12

Notes to the financial statements

13

to

22

DIRECTORS:

H Marson

A L M Bate

R P Choat

J Bate

A Cooke

REGISTERED OFFICE:

Opal Way

Stone Road Business Park

Stone

Staffordshire

ST15 0SS

REGISTERED NUMBER:

04169373 (England and Wales)

AUDITORS:

Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

BANKERS:

HSBC UK Bank plc

1 Centenary Square

Birmingham

B1 1HQ

The directors present their strategic report for the year ended 30 September 2025.

The principal activity of the company is the wholesale of tableware.

REVIEW OF BUSINESS

The Directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.

The company's turnover is generated by the importation and supply of tableware, cutlery, glassware and associated tabletop products throughout the UK, Europe and Rest of the World. The company has an established network of customers and continues to retain high levels of repeat business.

The company's turnover for the 12 month period was £15,728,902, which is an increase of £24,752 (0.16%) in comparison to the 12 month prior period.

Gross profit has decreased from 22.81% in the prior period, to 22.80% in the current period.

Administrative expenses have decreased from £2,844,249 in the prior period to £2,819,225 in the current period.

Operating profit has increased from £737,406 in the prior period to £766,805 in the current period.

At the balance sheet date, company net assets have increased from £3,514,567 to £4,086,175.

Cash at bank and in hand balances increased from £100,837 at the prior year end to £209,882 at the current period end.

PRINCIPAL RISKS AND UNCERTAINTIES

There are a range of risks facing the company and the company seeks to manage its exposure to all forms of risk.

Financial instrument risk

The company is exposed to the risk that the financial instruments held by the company impact on its ability to operate effectively and profitably. The risks which are relevant to the company's operations are:

Credit risks

The company has policies in place that require appropriate credit checks on new customers before sales are made. Policies are in place to ensure that provisions for bad debts are made when considered necessary.

Foreign currency risk

The company's transactions are predominantly in Sterling, US Dollar and Euros. The company's existing relationship with HSBC global markets provides continued guided information on movements, along with the access to the use of forward contracts. This, along with quarterly comparisons across the exchange market, provides confidence that the most beneficial rates are secured.

Cashflow risks

The company carefully manages its stock holding and debtor book to ensure that sufficient cash is available to meet operational needs.

Liquidity risks

The company funds working capital needs through the generation and retention of profits.

FUTURE DEVELOPMENTS

Despite tough market conditions in our industry, we remain confident that the company will continue to grow by introducing further associated product categories and innovative tabletop ranges into our existing portfolio throughout 2025/6.

1: Software Investment

We have invested heavily in the bespoke development of an OCR/AI program to speed up order entry and improve order accuracy. Delivery is expected Q1 2026. Once implemented this would enable us to extend our current order 'cut off' time and improve customer service levels.

2: Warehouse Development

Warehouse optimisation is key to growth and efficiency. We continue to review and restructure picking areas to speed up our fulfilment and despatch processes.

Plans to create a mezzanine area over the packing room have been approved and this will create in the region of one thousand more pick locations to house further ranges as part of the expansion plans.

3: New Website

We have commissioned a completely new website, due to launch in March 2026. It is being designed to give much greater information on stock levels, expected delivery dates and has much improved information, functionality and flexibility to the user.

The Directors are placing considerable emphasis on investing in various way to improve efficiency within the business. We continue to identify and explore automation to maximise efficiency in all aspects of our operations.

KEY PERFORMANCE INDICATORS

The company has several KPIs which are used to analyse current performance and assist with business development. Monthly KPIs are used to monitor financial and operational performance and are used to inform of progress and improvements.

The Directors consider that the key financial performance indicators are those that communicate the financial performance of the company as a whole, these being turnover, turnover growth, gross profit margin, operating profit margin and cash management (cash at bank and in hand).

2025

2024

2023

Turnover

15,728,902

15,704,150

£15,116,787

Increase/(Decrease) in turnover

0.16%

3.89%

5.36%

Gross profit margin

22.80%

22.81%

23.6%

Operating profit margin

4.88%

4.70%

6.2%

Cash at bank and in hand

£209,882

£100,837

£10,325

An explanation of the key performance indicators detailed above can be found in the review of business section of this report.

ON BEHALF OF THE BOARD:

A L M Bate - Director

20 April 2026

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

DIVIDENDS

Interim dividends of £Nil were paid during the year (2024: £Nil).

The total distribution of dividends for the year ended 30 September 2025 will be £Nil.

DIRECTORS

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

H Marson

A L M Bate

R P Choat

J Bate

A Cooke

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 in relation to future developments of the company.

The strategic report can be found on page 2 of these financial statements.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors are deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

A L M Bate - Director

20 April 2026

Opinion

We have audited the financial statements of DPS Tableware Limited (the 'company') for the year ended 30 September 2025 which comprise the Statement of income and retained earnings, Statement of financial position and 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 September 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of directors' responsibilities set out on page five, 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:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit

evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

•

the nature of the industry and sector, control environment and business performance including the design of the company remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

•

results of our enquiries of management about their own identification and assessment of the risks of irregularities;

•

any matters we identified having obtained and reviewed the company documentation of their policies and procedures relating to:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

•

the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the company risks and ensure the risks were considered throughout all areas of audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we did not identify any key audit matters related to the potential risk of

fraud or irregularities. Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management concerning actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• obtaining an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due 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, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

-

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

-	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

-	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

-

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the auditors. However, future events or conditions may cause the company to cease to continue as a going concern.

-	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Helen Tidyman (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

27 April 2026

TURNOVER

3

15,728,902

15,704,150

Cost of sales

(12,142,872

)

(12,122,494

)

GROSS PROFIT

3,586,030

3,581,656

Administrative expenses

(2,819,225

)

(2,844,250

)

OPERATING PROFIT

5

766,805

737,406

Interest payable and similar expenses

7

-

(33,137

)

PROFIT BEFORE TAXATION

766,805

704,269

Tax on profit

8

(195,197

)

(178,834

)

PROFIT FOR THE FINANCIAL YEAR

571,608

525,435

Retained earnings at beginning of year

3,514,465

2,989,030

RETAINED EARNINGS AT END OF YEAR

4,086,073

3,514,465

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

213,227

126,344

213,227

126,344

CURRENT ASSETS

Stocks

11

5,333,312

5,395,771

Debtors

12

2,714,869

2,642,556

Cash at bank and in hand

209,882

100,837

8,258,063

8,139,164

CREDITORS

Amounts falling due within one year

13

(4,331,808

)

(4,719,393

)

NET CURRENT ASSETS

3,926,255

3,419,771

TOTAL ASSETS LESS CURRENT LIABILITIES

4,139,482

3,546,115

PROVISIONS FOR LIABILITIES

16

(53,307

)

(31,548

)

NET ASSETS

4,086,175

3,514,567

CAPITAL AND RESERVES

Called up share capital

17

102

102

Retained earnings

18

4,086,073

3,514,465

SHAREHOLDERS' FUNDS

4,086,175

3,514,567

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

A L M Bate - Director

1.	STATUTORY INFORMATION

DPS Tableware 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 principal activity of the company is the wholesale of tableware.

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.

The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency. Monetary amounts in these financial statements are rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statement are consolidated into the financial statements of Porcelite Vitrified Hotelware Limited which can be obtained from Opal Way, Stone Business Park, Stone, England, ST15 0SS. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the company.

(b) Disclosures in respect of financial instruments have not been presented.

(c) No disclosure has been given for the aggregate remuneration of key management personnel.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are set out in the policies below.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of intangible and tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Going concern

The company's business activities, together with factors likely to affect its future development, performance and position are set out in the Review of Business section of the Strategic Report. The company's procedures for managing its financial instrument risks which include credit risk, liquidity risk and cashflow risk are described in the strategic report.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for goods in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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 despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected useful life, which is 3 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Plant and machinery

-

20% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Stocks are valued on a first in first out basis.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

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.

Employee benefits

The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred.

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:

30.9.25

30.9.24

£

£

United Kingdom

14,445,978

14,277,442

Europe

1,269,539

1,409,111

Worldwide

13,385

17,597

15,728,902

15,704,150

4.	EMPLOYEES AND DIRECTORS

30.9.25

30.9.24

£

£

Wages and salaries

1,623,904

1,225,465

Social security costs

160,932

118,293

Other pension costs

19,689

17,493

1,804,525

1,361,251

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

30.9.25

30.9.24

Directors

5

5

Office

14

14

Warehouse

13

11

32

30

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (2024: 4).

The directors' aggregate remuneration in respect of qualifying services was:

30.9.25

30.9.24

£

£

Directors' remuneration

796,058

585,141

Company contributions to defined contribution pension plans

5,101

4,386

801,159

589,527

Information for the highest paid director is as follows:

30.9.25

30.9.24

£

£

Directors' remuneration

555,126

353,851

5.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.25

30.9.24

£

£

Hire of plant and machinery

37,695

40,359

Other operating leases

357,475

346,914

Depreciation - owned assets

40,710

36,608

Exchange losses/gains

13,675

51,015

6.	AUDITORS' REMUNERATION

30.9.25

30.9.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

16,000

15,500

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.9.25

30.9.24

£

£

Bank loan interest

-

33,245

Interest on overdue taxation

-

(108

)

-

33,137

8.

TAXATION

Analysis of the tax charge

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

30.9.25

30.9.24

£

£

Current tax:

UK corporation tax

173,438

185,793

Over/under provision of taxati

on

-

100

Total current tax

173,438

185,893

Deferred tax

21,759

(7,059

)

Tax on profit

195,197

178,834

Reconciliation of total tax charge included in profit and loss

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

30.9.25

30.9.24

£

£

Profit before tax

766,805

704,269

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

191,701

176,067

Effects of:

Expenses not deductible for tax purposes

3,457

2,670

Income not taxable for tax purposes

-

(27

)

Depreciation in excess of capital allowances

39

7,017

deferred tax

Change in tax rate of deferred tax

-

(6,993

)

Under provision of prior year corporation tax

-

100

Total tax charge

195,197

178,834

9.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

Cost

At 1 October 2024

and 30 September 2025

19,200

42,720

61,920

Amortisation

At 1 October 2024

and 30 September 2025

19,200

42,720

61,920

Net book value

At 30 September 2025

-

-

-

At 30 September 2024

-

-

-

10.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

Cost

At 1 October 2024

114,793

547,052

661,845

Additions

38,308

89,285

127,593

At 30 September 2025

153,101

636,337

789,438

Depreciation

At 1 October 2024

114,620

420,881

535,501

Charge for year

1,130

39,580

40,710

At 30 September 2025

115,750

460,461

576,211

Net book value

At 30 September 2025

37,351

175,876

213,227

At 30 September 2024

173

126,171

126,344

11.

STOCKS

30.9.25

30.9.24

£

£

Stocks

4,505,157

4,455,648

Goods in transit

828,155

940,123

5,333,312

5,395,771