REGISTERED NUMBER: 03329003 (England and Wales)

COPTHILL SCHOOL LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

to

6

Income Statement

7

Other Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

to

17

DIRECTORS:

Mrs A M Teesdale

J A Teesdale

S W J Teesdale

N E Teesdale

SECRETARY:

J A Teesdale

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

03329003 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

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

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 nature of the business.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being revenue, gross margin and profit on ordinary activities.

2025

2024

Revenue

£3,665,306

£3,515,415

Gross Profit

£1,443,264

£1,289,969

Gross Profit %

39.4%

36.7%

Profit on ordinary activities before tax

£439,901

£248,024

2024-25 has seen a considerable change in the independent school sector with the introduction of VAT in January 2025. We experienced no immediate change to pupil numbers and adjusted our fee structure to absorb 5% of the VAT increase in January and April 2025. We continue to monitor the demand and the sector carefully to ensure we remain sensitive to the changes and can adapt fees and costs in order to remain financially robust. We concentrated on our costs in 2024-25 which gave us confidence in our financial model to absorb the impact of VAT. Costs have been kept under budget and further savings have been made in non-core elements. Energy costs have reduced which has also helped the overall budget. Staff costs have once again been a key priority and despite the employer NI increase, further improvements in staff timetabling efficiency and a freeze on recruitment kept the increase in staff costs within budget.

Moving on into 2025-26, the sector experienced a notable dip in enrolments in 2025, driven primarily by the new VAT-inclusive fees and rising cost pressures. Financial sustainability has become the sector's central challenge, prompting cost reductions, staffing reviews and greater scrutiny of supplier spend. We intend to continue our current strategy whilst not compromising on the quality of the education provided.

The directors believe that prudent management, aligned with long term investment, will ensure continued profitability whilst providing the strong foundations from which all sectors of the business can develop.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's principal financial instruments comprise bank balances, trade creditors, trade debtors and loans to the company. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

The existence of these financial instruments exposes the company to a number of financial risks. The directors review and agree policies for managing each of these risks and they are summarised below.

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Short term flexibility can be also be achieved by overdraft facilities.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

With these risks and uncertainties in mind, we are still aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control.

ON BEHALF OF THE BOARD:

S W J Teesdale - Director

29 April 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a nursery and preparatory school.

DIVIDENDS

No dividends will be distributed for the year ended 31 July 2025.

DIRECTORS

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

Mrs A M Teesdale

J A Teesdale

S W J Teesdale

N E Teesdale

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.

ON BEHALF OF THE BOARD:

S W J Teesdale - Director

29 April 2026

Opinion

We have audited the financial statements of Copthill School Limited (the 'company') for the year ended 31 July 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 31 July 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 three, 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 have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with directors and other management obtained as part of the work required by auditing standards. We have also discussed with the directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as depreciation of tangible fixed assets, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging

management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and safety regulations, independent schools inspections and employment law. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection. This inspection included a review of ISI visits conducted for any evidence of non-compliance. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statements items.

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. The further removed non-compliance with laws and regulations 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. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, international omissions of the override of internal controls. 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.

Sally-Anne Hurn FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

29 April 2026

REVENUE

3

3,665,306

3,515,415

Cost of sales

2,222,042

2,225,446

GROSS PROFIT

1,443,264

1,289,969

Administrative expenses

1,065,746

1,078,375

377,518

211,594

Other operating income

3,013

23,268

OPERATING PROFIT

380,531

234,862

Interest receivable and similar income

5

59,370

13,162

PROFIT BEFORE TAXATION

6

439,901

248,024

Tax on profit

7

107,422

65,725

PROFIT FOR THE FINANCIAL YEAR

332,479

182,299

PROFIT FOR THE YEAR

332,479

182,299

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

332,479

182,299

FIXED ASSETS

Intangible assets

8

-

-

Property, plant and equipment

9

2,456,402

2,359,094

2,456,402

2,359,094

CURRENT ASSETS

Inventories

10

40,569

44,311

Debtors

11

1,053,196

940,186

Investments

12

1,227,743

403,763

Cash at bank and in hand

720,154

1,704,843

3,041,662

3,093,103

CREDITORS

Amounts falling due within one year

13

1,051,326

1,113,599

NET CURRENT ASSETS

1,990,336

1,979,504

TOTAL ASSETS LESS CURRENT LIABILITIES

4,446,738

4,338,598

CREDITORS

Amounts falling due after more than one year

14

(177,793

)

(407,260

)

PROVISIONS FOR LIABILITIES

16

(37,524

)

(32,396

)

NET ASSETS

4,231,421

3,898,942

CAPITAL AND RESERVES

Called up share capital

17

157,900

157,900

Share premium

18

17,371

17,371

Retained earnings

18

4,056,150

3,723,671

SHAREHOLDERS' FUNDS

4,231,421

3,898,942

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

S W J Teesdale - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 August 2023

157,900

3,541,372

17,371

3,716,643

Changes in equity

Total comprehensive income

-

182,299

-

182,299

Balance at 31 July 2024

157,900

3,723,671

17,371

3,898,942

Changes in equity

Total comprehensive income

-

332,479

-

332,479

Balance at 31 July 2025

157,900

4,056,150

17,371

4,231,421

1.	STATUTORY INFORMATION

Copthill School 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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

The company is a subsidiary of Copthill Holdings Limited. Consolidated financial statements of Copthill Holdings Limited can be obtained from:

Companies House

Crown Way

Cardiff

CF14 3UZ

Related party exemption

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

Revenue

Revenue represents income receivable for fees, additional pupil related services and goods sold in the period, exclusive of Value Added Tax and trade discounts. Revenue also includes any Early Years Education Grant received in the period.

Fee and service revenue is recognised evenly across the period in which the service is provided and revenue from the sale of goods is recognised at the point of sale.

Goodwill

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separate net assets. It has been written off in equal annual instalments over its economic life, which was estimated by the directors to be approximately 5 years as at the date of transition to FRS102.

Property, plant and equipment

Tangible fixed assets are held at cost less accumulated depreciation and impairment losses. Depreciation is applied at the following annual rates on the cost of the assets over their useful economic lives;

School Huts

15% pa reducing balance

Plant and Machinery

25% pa reducing balance

Fixtures and Fittings

20% pa reducing balance

Motor Vehicles

25% pa reducing balance

Computer Equipment

33.3% pa reducing balance

Land is not depreciated. Freehold buildings are also not depreciated as it is considered that they are maintained to such a high standard that the residual value of the assets would be no less than their carrying value in the accounts. Freehold property is reviewed annually for impairment.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items. Inventories are accounted for on a first-in-first-out basis.

Financial instruments

The company has adopted the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other 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 receipts discounted at a market rate of interest.

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. Accounts 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.

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.

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.

Investments

Unlisted current asset investments are stated at cost less provisions for impairment where the directors do not consider that fair value can be reliably measured. Where a reliable fair value can however be obtained, unlisted current asset investments are stated at fair value, with movements in fair value being recognised through profit and loss.

3.

REVENUE

All revenue is attributable to the principle activity of the company and has arisen in the UK.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,930,044

1,928,562

Social security costs

190,622

179,571

Other pension costs

101,715

101,364

2,222,381

2,209,497

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

2025

2024

Directors

4

4

Administration

4

4

Teaching and support

56

56

Grounds and other

5

6

69

70

2025

2024

£

£

Directors' remuneration

300,500

291,757

Directors' pension contributions to money purchase schemes

19,319

19,218

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

Money purchase schemes

3

3

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

103,149

96,547

Pension contributions to money purchase schemes

6,385

6,362

5.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Deposit account interest

12,700

9,438

Corporation tax interest

-

127

UK Unit Trust dividends receivable

1,593

-

UK Unit Trust interest receivable

25,102

-

Gains on revaluation of investments

19,975

3,597

59,370

13,162

6.	PROFIT BEFORE TAXATION

The profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

9,876

5,074

Depreciation - owned assets

44,043

47,625

Loss on disposal of fixed assets

1,675

-

Auditors' remuneration

9,000

10,450

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

102,294

70,179

Deferred tax

5,128

(4,454

)

Tax on profit

107,422

65,725

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

439,901

248,024

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

109,975

62,006

Effects of:

Expenses not deductible for tax purposes

1,139

(432

)

Depreciation in excess of capital allowances

1,165

4,151

Gains on investments

(4,857

)

-

Total tax charge

107,422

65,725

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 31 July 2025

160,000

AMORTISATION

At 1 August 2024

and 31 July 2025

160,000

NET BOOK VALUE

At 31 July 2025

-

At 31 July 2024

-

9.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 August 2024

2,284,448

539,987

296,610

Additions

102,785

2,896

11,981

Disposals

-

(43,443

)

(3,427

)

At 31 July 2025

2,387,233

499,440

305,164

DEPRECIATION

At 1 August 2024

60,412

492,598

240,676

Charge for year

6,674

9,127

12,574

Eliminated on disposal

-

(42,032

)

(3,163

)

At 31 July 2025

67,086

459,693

250,087

NET BOOK VALUE

At 31 July 2025

2,320,147

39,747

55,077

At 31 July 2024

2,224,036

47,389

55,934

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 August 2024

19,876

271,419

3,412,340

Additions

-

25,364

143,026

Disposals

-

-

(46,870

)

At 31 July 2025

19,876

296,783

3,508,496

DEPRECIATION

At 1 August 2024

18,029

241,531

1,053,246

Charge for year

462

15,206

44,043

Eliminated on disposal

-

-

(45,195

)

At 31 July 2025

18,491

256,737

1,052,094

NET BOOK VALUE

At 31 July 2025

1,385

40,046

2,456,402

At 31 July 2024

1,847

29,888

2,359,094

10.	INVENTORIES

2025

2024

£

£

Finished goods

40,569

44,311

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

31,311

36,011

Amounts owed by group undertakings

831,534

701,457

Other debtors

90,896

73,068

Prepayments and accrued income

99,455

129,650

1,053,196

940,186