S & V E Williams Limited 31/12/2025 iXBRL

Company registration number: 03498840

S & V E Williams Limited

Financial statements

31 December 2025

S & V E Williams Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of income and retained earnings

Statement of financial position

Statement of cash flows

Notes to the financial statements

S & V E Williams Limited

Directors and other information


	Directors	S Williams
		Mrs V E Williams


	Secretary	Mrs V E Williams


	Company number	03498840


	Registered office	28-30 Grange Road West
		Birkenhead
		Merseyside
		CH41 4DA


	Auditor	Robert S Boys
		28-30 Grange Road West
		Birkenhead
		Merseyside
		CH41 4DA




	Bankers	The Royal Bank of Scotland Plc
		St Ann Street
		Manchester
		M60 2SS

S & V E Williams Limited

Strategic report

Year ended 31 December 2025

Principal activity

The principal activity of the company during the year was that of a chain of fast food restaurants.

Business review

The external commercial environment is expected to remain competitive, however, we remain confident that we will build on our current level of performance in the future.

Principal risks and uncertainties

As a franchisee the company is fully supported by a global organisation which minimises the brands risks and uncertainties. The company values safe, quality food which is affordable and convenient.

Performance and position

The company has had a successful year despite the impact on the cost of living with profits on ordinary activities before taxation of £1,135,589 compared to profits of £545,433 in 2024. The gross profit margin rose by 0.8% to 33.1% in 2025 compared with 32.3% in 2024. The operating profit margin also increased from 0.2% in 2024 to 1.8% in 2025. The company recognises its responsibility to protect and preserve the environment for future generations to come. The company has a policy of employing local people representing the communities in which we operate. The company also operates a code of conduct with regards to human rights.

Future Development

The company is striving to expand in the future with the addition of further restaurants within the business.

This report was approved by the board of directors on 8 May 2026 and signed on behalf of the board by:

S Williams

Director

S & V E Williams Limited

Directors report

Year ended 31 December 2025

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

Directors

The directors who served the company during the year were as follows:

S Williams

Mrs V E Williams

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Employment of disabled persons

The company is an equal opportunity employer and one of their greatest strengths is their diverse workforce. The company recognises the importance of being an inclusive employer and employs on the basis of qualities regardless of disability or qualifications.

Employee involvement

The company has an excellent training programme and opportunities to suit individual employee ambitions to aid career development and promotion.

Financial instruments

The key business risks and uncertainties affecting the company are considered to relate to competition and the economic climate.

Disclosure of information in the strategic report.

In accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 the company has 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.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors report and the financial statements in accordance with applicable law and regulations.

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

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

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

This report was approved by the board of directors on 08 May 2026 and signed on behalf of the board by:

S Williams

Director

S & V E Williams Limited

Independent auditor's report to the members of

S & V E Williams Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of S & V E Williams Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the 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 auditor’s 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report has 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 directors' report. 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 the 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 directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: As part of an audit in accordance with ISAs (UK), we exercise professional judgment 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 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 auditor’s report 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 auditor’s report. 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 an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Richard I Coulthard (Senior Statutory Auditor)

For and on behalf of

Robert S Boys

Statutory Auditor

28-30 Grange Road West

Birkenhead

Merseyside

CH41 4DA

08 May 2026

S & V E Williams Limited

Statement of income and retained earnings

Year ended 31 December 2025

		2025	2024
	Note	£	£


Turnover	4	37,224,344	37,532,176
Cost of sales		( 24,886,956)	( 25,408,701)
		_______	_______
Gross profit		12,337,388	12,123,475

Administrative expenses		( 11,827,469)	( 12,061,347)
Other operating income	5	143,761	12,838
		_______	_______
Operating profit	6	653,680	74,966

Gain on financial liabilities at fair value through profit or loss		310,095	288,310
Other interest receivable and similar income	10	189,168	196,473
Interest payable and similar expenses	11	( 17,354)	( 14,316)
Profit before taxation		1,135,589	545,433

Tax on profit	12	( 77,113)	( 252,049)
		_______	_______
Profit for the financial year and total comprehensive income		1,058,476	293,384
		_______	_______

Dividends declared and paid or payable during the year	13	( 40,000)	( 90,000)

Retained earnings at the start of the year		7,473,014	7,269,630
		_______	_______
Retained earnings at the end of the year		8,491,490	7,473,014
		_______	_______

All the activities of the company are from continuing operations.

S & V E Williams Limited

Statement of financial position

31 December 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	14	154,875		222,000
Tangible assets	15	2,110,848		3,733,432
Investments	16	3,776,214		1,468,208
		_______		_______
			6,041,937		5,423,640

Current assets
Stocks	17	148,195		242,106
Debtors	18	164,425		319,594
Investments	19	11,250		13,750
Cash at bank and in hand		6,375,538		5,485,873
		_______		_______
		6,699,408		6,061,323
Creditors: amounts falling due
within one year	20	( 3,744,759)		( 3,158,847)
		_______		_______
Net current assets			2,954,649		2,902,476
			_______		_______
Total assets less current liabilities			8,996,586		8,326,116

Creditors: amounts falling due
after more than one year	21		-		( 89,126)

Provisions for liabilities	22		( 504,996)		( 763,876)

			_______		_______
Net assets			8,491,590		7,473,114
			_______		_______

Capital and reserves
Called up share capital	25		100		100
Profit and loss account	26		8,491,490		7,473,014
			_______		_______
Shareholders funds			8,491,590		7,473,114
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 08 May 2026 , and are signed on behalf of the board by:

S Williams

Director

Company registration number: 03498840

S & V E Williams Limited

Statement of cash flows

Year ended 31 December 2025

	2025	2024
	£	£

Cash flows from operating activities
Profit for the financial year	1,058,476	293,384

Adjustments for:
Depreciation of tangible assets	661,580	904,948
Amortisation of intangible assets	12,875	14,125
Gain/(loss) on financial liabilities at fair value through profit or loss	(310,095)	(288,310)
Other interest receivable and similar income	( 189,168)	( 196,473)
Interest payable and similar expenses	17,354	14,316
Gain/(loss) on disposal of tangible assets	( 221,022)	4,080
Gain/(loss) on disposal of Intangible assets	54,250	-
Tax on profit	77,113	252,049
Accrued expenses/(income)	92,579	233,250

Changes in:
Stocks	93,911	( 60,456)
Trade and other debtors	35,193	( 109,447)
Trade and other creditors	41,757	206,726
	_______	_______
Cash generated from operations	1,424,803	1,268,192

Interest paid	( 17,354)	( 14,316)
Interest received	189,168	196,473
Tax paid	119,976	( 109,193)
	_______	_______
Net cash from operating activities	1,716,593	1,341,156
	_______	_______

Cash flows from investing activities
Purchase of tangible assets	( 133,115)	( 2,281,378)
Proceeds from sale of tangible assets	1,315,142	-
Purchase of intangible assets	-	( 60,000)
Purchase of other investments	( 1,995,411)	( 2,500)
	_______	_______
Net cash used in investing activities	( 813,384)	( 2,343,878)
	_______	_______

Cash flows from financing activities
Proceeds from borrowings	34,273	32,382
Payment of finance lease liabilities	( 7,817)	( 7,817)
Equity dividends paid	( 40,000)	( 90,000)
	_______	_______
Net cash used in financing activities	( 13,544)	( 65,435)
	_______	_______

Net increase/(decrease) in cash and cash equivalents	889,665	( 1,068,157)
Cash and cash equivalents at beginning of year	5,485,873	6,554,030
	_______	_______


Cash and cash equivalents at end of year	6,375,538	5,485,873
	_______	_______

S & V E Williams Limited

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 28-30 Grange Road West, Birkenhead, Merseyside, CH41 4DA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	3 years
Other intangible assets	-	5- 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	straight line
Fittings fixtures and equipment	-	15 %	straight line
Motor vehicles	-	15 %	straight line
Computer equipment	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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 or 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Other operating income	143,761	12,838
	_______	_______

6. Operating profit

Operating profit is stated after charging/(crediting):

	2025	2024
	£	£
Amortisation of intangible assets	12,875	14,125
Depreciation of tangible assets	661,580	904,948
(Gain)/loss on disposal of tangible assets	( 221,022)	4,080
(Gain)/loss on disposal of intangible assets	54,250	-
Fees payable for the audit of the financial statements	5,350	5,150
	_______	_______

7. Auditors remuneration

	2025	2024
	£	£
Fees payable to Robert S Boys
Fees payable for the audit of the financial statements	5,795	5,625
	_______	_______
Fees payable to the company's auditor and its associates for other services:
Other non-audit services	6,255	6,875
	_______	_______

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
Staff	867	875
Management	35	37
	_______	_______
	902	912
	_______	_______

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	10,484,362	10,595,415
Social security costs	599,626	408,223
Other pension costs	159,077	170,806
	_______	_______
	11,243,065	11,174,444
	_______	_______

9. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	30,449	31,241
	_______	_______

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	Number	Number
Defined contribution plans	2	2
	_______	_______

10. Other interest receivable and similar income

	2025	2024
	£	£
Bank deposits	185,989	195,985
Gain on fair value adjustment of financial liabilities at fair value through profit or loss	310,095	288,310
Other interest receivable and similar income	3,179	488
	_______	_______
	499,263	484,783
	_______	_______

11. Interest payable and similar expenses

		2025	2024
		£	£
Other loans made to the company:
	Finance leases and hire purchase contracts	9,480	9,480
	Other interest on other loans made to the company	7,874	-
Other interest payable and similar expenses		-	4,836
		_______	_______
		17,354	14,316
		_______	_______

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense/income	335,993	( 119,488)
	_______	_______

Deferred tax:
Origination and reversal of timing differences	( 258,880)	371,537
	_______	_______
Tax on profit	77,113	252,049
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

	2025	2024
	£	£
Profit before taxation	1,135,589	545,433
	_______	_______

Profit multiplied by rate of tax	283,897	136,358
Effect of expenses not deductible for tax purposes	125	1,456
Effect of capital allowances and depreciation	283,859	( 347,104)
Effect of revenue exempt from tax	( 77,524)	( 72,077)
Utilisation of tax losses	( 154,364)	-
Unrelieved tax losses	-	154,364
Change of rate in 2023 from 19.00% to 25.00%	-	7,515
	_______	_______
Tax on profit	335,993	(119,488)
	_______	_______

13. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	40,000	90,000
	_______	_______

14. Intangible assets

	Goodwill	Franchise fees	Total
	£	£	£
Cost
At 1 January 2025	1,257,385	300,000	1,557,385
Disposals	-	( 60,000)	( 60,000)
	_______	_______	_______
At 31 December 2025	1,257,385	240,000	1,497,385
	_______	_______	_______
Amortisation
At 1 January 2025	1,257,385	78,000	1,335,385
Charge for the year	-	12,875	12,875
Disposals	-	( 5,750)	( 5,750)
	_______	_______	_______
At 31 December 2025	1,257,385	85,125	1,342,510
	_______	_______	_______
Carrying amount
At 31 December 2025	-	154,875	154,875
	_______	_______	_______
At 31 December 2024	-	222,000	222,000
	_______	_______	_______

15. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 January 2025	9,895,749	76,377	193,764	3,700	10,169,590
Additions	133,115	-	-	-	133,115
Disposals	( 1,384,681)	-	( 45,900)	( 1,103)	( 1,431,684)
	_______	_______	_______	_______	_______
At 31 December 2025	8,644,183	76,377	147,864	2,597	8,871,021
	_______	_______	_______	_______	_______
Depreciation
At 1 January 2025	6,317,087	76,377	40,805	1,888	6,436,157
Charge for the year	635,547	-	25,622	411	661,580
Disposals	( 326,868)	-	( 10,328)	( 368)	( 337,564)
	_______	_______	_______	_______	_______
At 31 December 2025	6,625,766	76,377	56,099	1,931	6,760,173
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2025	2,018,417	-	91,765	666	2,110,848
	_______	_______	_______	_______	_______
At 31 December 2024	3,578,662	-	152,959	1,812	3,733,433
	_______	_______	_______	_______	_______

16. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 January 2025	1,468,208	1,468,208
Additions	1,997,911	1,997,911
Fair value adjustment	310,095	310,095
	_______	_______
At 31 December 2025	3,776,214	3,776,214
	_______	_______
Impairment
At 1 January 2025 and 31 December 2025	-	-
	_______	_______
Carrying amount
At 31 December 2025	3,776,214	3,776,214
	_______	_______
At 31 December 2024	1,468,208	1,468,208
	_______	_______

The investment portfolio is a dealing capital account equity investment in Global Purisima Investment Funds. The valuation of £3,776,214 is based on the market value of the investment dated 31 December 2025.

Listed investments


	£	£
		At 31 December 2025
Market value	3,776,214	3,776,214
	_______	_______

		At 31 December 2024
Market value	1,468,208	1,468,208
	_______	_______

Investments held at valuation

In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Other investments other than loans	Total
	£	£
At 31 December 2025
Aggregate cost	2,997,911	2,997,911
Aggregate depreciation	-	-
	_______	_______
Carrying amount	2,997,911	2,997,911
	_______	_______

At 31 December 2024
Aggregate cost	1,000,000	1,000,000
Aggregate depreciation	-	-
	_______	_______
Carrying amount	1,000,000	1,000,000
	_______	_______

17. Stocks

	2025	2024
	£	£
Raw materials	148,195	242,106
	_______	_______

18. Debtors

	2025	2024
	£	£
Trade debtors	185	53
Prepayments and accrued income	129,042	161,629
Other debtors	35,198	157,912
	_______	_______
	164,425	319,594
	_______	_______

19. Investments

	2025	2024
	£	£
Other investments	11,250	13,750
	_______	_______

20. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,385,382	1,464,765
Accruals and deferred income	1,013,110	920,531
Corporation tax	335,993	-
Social security and other taxes	718,895	597,909
Obligations under finance leases	89,126	7,817
Director loan accounts	197,897	163,624
Other creditors	4,356	4,201
	_______	_______
	3,744,759	3,158,847
	_______	_______

21. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Obligations under finance leases	-	89,126
	_______	_______

22. Provisions

	Deferred tax (note 23)	Total
	£	£
At 1 January 2025	763,876	763,876
Additions	( 258,880)	( 258,880)
	_______	_______
At 31 December 2025	504,996	504,996
	_______	_______

23. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 22)	504,996	763,876
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	504,996	763,876
	_______	_______

24. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 159,077 (2024: £ 170,806 ).

25. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

26. Reserves

Profit and loss account:This reserve records retained earnings and accumulated losses.

27. Analysis of changes in net debt

	At 1 January 2025	Cash flows	At 31 December 2025
	£	£	£
Cash and cash equivalents	5,485,873	889,665	6,375,538
Debt due within one year	(171,441)	(115,582)	(287,023)
Debt due after one year	(89,126)	89,126	-
Current asset investments	13,750	(2,500)	11,250
	_______	_______	_______
	5,239,056	860,709	6,099,765
	_______	_______	_______

28. Related party transactions

During the year the company paid £20,000 to Mr S Williams and £20,000 to Mrs V E Williams in dividends.

29. Controlling party

Mr S Williams, a director and majority shareholder, is considered to have a controlling interest in the company.