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REGISTERED NUMBER: NI004697 (Northern Ireland)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2025

for

Johnson Brothers (Belfast) Limited

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Contents of the Consolidated Financial Statements

for the year ended 31 December 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Consolidated Profit and Loss Account | 10 |

| Consolidated Other Comprehensive Income | 11 |

| Consolidated Balance Sheet | 12 |

| Company Balance Sheet | 13 |

| Consolidated Statement of Changes in Equity | 15 |

| Company Statement of Changes in Equity | 16 |

| Consolidated Cash Flow Statement | 17 |

| Notes to the Consolidated Cash Flow Statement | 18 |

| Notes to the Consolidated Financial Statements | 20 |

| Johnson Brothers (Belfast) Limited |

Company Information

for the year ended 31 December 2025

| DIRECTORS: | M Y Johnson

| D W M Johnson

| M A Johnson

| R J Johnson

| P Mills

| N J W Patton

| Mrs M Maginnis

| A M Johnson

| SECRETARY: | Mrs M Maginnis

| REGISTERED OFFICE: | 137 Hillsborough Old Road

| Lisburn

| Co. Antrim

| BT27 5QR

| REGISTERED NUMBER: | NI004697 (Northern Ireland)

| SENIOR STATUTORY AUDITOR: | Anthony Bradley FCA

| AUDITORS: | Cleaver Black

| Chartered Accountants

| Registered Auditors

| Suite 5 Ormeau House

| 91-97 Ormeau Road

| Belfast

| Co. Antrim

| BT7 1SH

| BANKERS: | Bank Of Ireland

| 4 - 8 High Street

| Belfast

| BT1 2BA

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Group Strategic Report

for the year ended 31 December 2025

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

REVIEW OF BUSINESS

The trading results for the year and the group's financial position at the end of the year are shown in the attached financial statements. The directors consider both the results for the year and the prospects for the future as satisfactory. There was a profit for the year after taxation amounting to £447,998 (2024: £28,904).

PRINCIPAL RISKS AND UNCERTAINTIES

The group uses various financial instruments including bank loans or overdrafts, cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the group's operations.

The existence of these financial instruments exposes the group to a number of financial risks, which are described in more detail below.

The main risks arising from the group's financial instruments are interest risk and liquidity risk.

The directors review and agree policies for managing each of these risks and they are summarised below. These policies remain unchanged from previous years.

Liquidity risk

The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. Short term flexibility is achieved by overdraft facilities.

Currency risk

The group is exposed to translation and transaction foreign exchange risk.

Interest rate risk

The group finances its operations through a mixture of retained profits and bank borrowings. The group exposure to interest rate fluctuations on its borrowings is managed through annual review of its borrowing requirements.

Credit risk

The group's principal financial assets are cash and debtors: the credit risk associated with cash is limited. An assessment is made of prospective commercial customers before goods are supplied on credit. Overdue amounts are reviewed on an ongoing basis and are followed up on a monthly basis.

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Group Strategic Report

for the year ended 31 December 2025

FINANCIAL KEY PERFORMANCE INDICATORS

The group's key performance indicators are as follows:

| 2025 |  | 2024 |  |

Growth/(decline) in sales |  | 7.33% |  | (4.04%) |  |

Growth/(decline) in operating profit |  | 502.08% |  | (86.78%) |  |

Net assets (£'000) |  | 14,931 |  | 14,483 |  |

ON BEHALF OF THE BOARD:

Mrs M Maginnis - Director

30 April 2026

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Report of the Directors

for the year ended 31 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of selling and distribution, coffee manufacturing and coffee equipment hire.

DIVIDENDS

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

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

M Y Johnson

D W M Johnson

M A Johnson

R J Johnson

P Mills

N J W Patton

Mrs M Maginnis

A M Johnson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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;

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- | 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Report of the Directors

for the year ended 31 December 2025

AUDITORS

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

ON BEHALF OF THE BOARD:

Mrs M Maginnis - Director

30 April 2026

Report of the Independent Auditors to the Members of

Johnson Brothers (Belfast) Limited

Opinion

We have audited the financial statements of Johnson Brothers (Belfast) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Johnson Brothers (Belfast) Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Johnson Brothers (Belfast) Limited

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:

Identify 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:

1 |  | The nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies; |

2 |  | Results of our enquiries of management about their own identification and assessment of the risks of irregularities; |

3 |  | Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to: |

| (i)Identifying, evaluating and complying with laws and regulations and whether they were aware of any cases of | non-compliance;

| (ii) Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or | alleged fraud;

| (iii) The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; |

4 |  | 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; |

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to risk management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements.

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.

Report of the Independent Auditors to the Members of

Johnson Brothers (Belfast) Limited

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.

Anthony Bradley FCA (Senior Statutory Auditor)

for and on behalf of Cleaver Black

Chartered Accountants

Registered Auditors

Suite 5 Ormeau House

91-97 Ormeau Road

Belfast

Co. Antrim

BT7 1SH

30 April 2026

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Consolidated

Profit and Loss Account

for the year ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 4 | 33,958,644 |  | 31,636,998 |  |

Cost of sales | (28,468,703 | ) | (26,999,271 | ) |

GROSS PROFIT | 5,489,941 |  | 4,637,727 |  |

Distribution costs | (3,491,250 | ) | (3,219,489 | ) |

Administrative expenses | (1,963,582 | ) | (1,858,265 | ) |

35,109 |  | (440,027 | ) |

Other operating income | 619,255 |  | 548,711 |  |

OPERATING PROFIT | 6 | 654,364 |  | 108,684 |  |

Interest receivable and similar income | 17 |  | 19 |  |

654,381 |  | 108,703 |  |

Interest payable and similar expenses | 7 | (22,214 | ) | (34,507 | ) |

PROFIT BEFORE TAXATION | 632,167 |  | 74,196 |  |

Tax on profit | 8 | (184,169 | ) | (45,292 | ) |

PROFIT FOR THE FINANCIAL YEAR | 447,998 |  | 28,904 |  |

Profit attributable to:

Owners of the parent | 447,998 |  | 28,904 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Consolidated

Other Comprehensive Income

for the year ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 447,998 |  | 28,904 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 447,998 |  | 28,904 |  |

Total comprehensive income attributable to:

Owners of the parent | 447,998 |  | 28,904 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Consolidated Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | 3,364,428 |  | 3,277,721 |  |

Investments | 12 | - |  | - |  |

Investment property | 13 | 4,178,560 |  | 4,178,560 |  |

7,542,988 |  | 7,456,281 |  |

CURRENT ASSETS

Stocks | 14 | 6,537,498 |  | 5,340,551 |  |

Debtors | 15 | 6,943,057 |  | 6,051,891 |  |

Cash at bank and in hand | 699,649 |  | 401,254 |  |

14,180,204 |  | 11,793,696 |  |

CREDITORS

Amounts falling due within one year | 16 | (6,492,075 | ) | (4,530,844 | ) |

NET CURRENT ASSETS | 7,688,129 |  | 7,262,852 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 15,231,117 |  | 14,719,133 |  |

PROVISIONS FOR LIABILITIES | 19 | (300,454 | ) | (236,468 | ) |

NET ASSETS | 14,930,663 |  | 14,482,665 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 4,597 |  | 4,597 |  |

Revaluation reserve | 21 | 1,108,810 |  | 1,192,753 |  |

Capital redemption reserve | 21 | 5,403 |  | 5,403 |  |

Retained earnings | 21 | 13,811,853 |  | 13,279,912 |  |

SHAREHOLDERS' FUNDS | 14,930,663 |  | 14,482,665 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

D W M Johnson - Director

M A Johnson - Director

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Company Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | 3,118,668 |  | 2,970,102 |  |

Investments | 12 | 4,299 |  | 4,299 |  |

Investment property | 13 | 4,178,560 |  | 4,178,560 |  |

7,301,527 |  | 7,152,961 |  |

CURRENT ASSETS

Stocks | 14 | 5,765,533 |  | 4,583,505 |  |

Debtors | 15 | 7,620,838 |  | 6,684,659 |  |

Cash at bank and in hand | 66,706 |  | 111,055 |  |

13,453,077 |  | 11,379,219 |  |

CREDITORS

Amounts falling due within one year | 16 | (6,090,109 | ) | (4,188,313 | ) |

NET CURRENT ASSETS | 7,362,968 |  | 7,190,906 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 14,664,495 |  | 14,343,867 |  |

PROVISIONS FOR LIABILITIES | 19 | (239,014 | ) | (159,563 | ) |

NET ASSETS | 14,425,481 |  | 14,184,304 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Company Balance Sheet - continued

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 20 | 4,597 |  | 4,597 |  |

Revaluation reserve | 21 | 1,108,810 |  | 1,192,753 |  |

Capital redemption reserve | 21 | 5,403 |  | 5,403 |  |

Retained earnings | 21 | 13,306,671 |  | 12,981,551 |  |

SHAREHOLDERS' FUNDS | 14,425,481 |  | 14,184,304 |  |

Company's profit for the financial year | 241,177 |  | 161,731 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

D W M Johnson - Director

M A Johnson - Director

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Consolidated Statement of Changes in Equity

for the year ended 31 December 2025

| Called up |  | Capital |

| share |  | Retained |  | Revaluation |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2024 | 4,597 |  | 13,166,884 |  | 1,276,877 |  | 5,403 |  | 14,453,761 |  |

Changes in equity

Total comprehensive income | - |  | 113,028 |  | (84,124 | ) | - |  | 28,904 |  |

Balance at 31 December 2024 | 4,597 |  | 13,279,912 |  | 1,192,753 |  | 5,403 |  | 14,482,665 |  |

Changes in equity

Total comprehensive income | - |  | 531,941 |  | (83,943 | ) | - |  | 447,998 |  |

Balance at 31 December 2025 | 4,597 |  | 13,811,853 |  | 1,108,810 |  | 5,403 |  | 14,930,663 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Company Statement of Changes in Equity

for the year ended 31 December 2025

| Called up |  | Capital |

| share |  | Retained |  | Revaluation |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2024 | 4,597 |  | 12,735,696 |  | 1,276,877 |  | 5,403 |  | 14,022,573 |  |

Changes in equity

Total comprehensive income | - |  | 245,855 |  | (84,124 | ) | - |  | 161,731 |  |

Balance at 31 December 2024 | 4,597 |  | 12,981,551 |  | 1,192,753 |  | 5,403 |  | 14,184,304 |  |

Changes in equity

Total comprehensive income | - |  | 325,120 |  | (83,943 | ) | - |  | 241,177 |  |

Balance at 31 December 2025 | 4,597 |  | 13,306,671 |  | 1,108,810 |  | 5,403 |  | 14,425,481 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Consolidated Cash Flow Statement

for the year ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 392,648 |  | 564,374 |  |

Interest paid | (22,214 | ) | (34,507 | ) |

Government grants | - |  | 1,500 |  |

Tax paid | - |  | (176,349 | ) |

Net cash from operating activities | 370,434 |  | 355,018 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (781,489 | ) | (710,461 | ) |

Sale of tangible fixed assets | 9,250 |  | 9,833 |  |

Interest received | 17 |  | 19 |  |

Net cash from investing activities | (772,222 | ) | (700,609 | ) |

Decrease in cash and cash equivalents | (401,788 | ) | (345,591 | ) |

Cash and cash equivalents at beginning of year | 2 | (448,173 | ) | (102,582 | ) |

Cash and cash equivalents at end of year | 2 | (849,961 | ) | (448,173 | ) |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Cash Flow Statement

for the year ended 31 December 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 632,167 |  | 74,196 |  |

| Depreciation charges | 689,791 |  | 638,649 |  |

| (Profit)/loss on disposal of fixed assets | (4,259 | ) | 3,626 |  |

| Government grants | - |  | (1,500 | ) |

| Finance costs | 22,214 |  | 34,507 |  |

| Finance income | (17 | ) | (19 | ) |

1,339,896 |  | 749,459 |  |

| (Increase)/decrease in stocks | (1,196,947 | ) | 243,717 |  |

| (Increase)/decrease in trade and other debtors | (891,166 | ) | 535,491 |  |

| Increase/(decrease) in trade and other creditors | 1,140,865 |  | (964,293 | ) |

| Cash generated from operations | 392,648 |  | 564,374 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2025

| 31/12/25 |  | 1/1/25

£ | £ |

| Cash and cash equivalents | 699,649 |  | 401,254 |  |

| Bank overdrafts | (1,549,610 | ) | (849,427 | ) |

(849,961 | ) | (448,173 | ) |

| Year ended 31 December 2024

| 31/12/24 |  | 1/1/24

£ | £ |

| Cash and cash equivalents | 401,254 |  | 695,230 |  |

| Bank overdrafts | (849,427 | ) | (797,812 | ) |

(448,173 | ) | (102,582 | ) |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Cash Flow Statement

for the year ended 31 December 2025

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1/1/25 | Cash flow | At 31/12/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 401,254 |  | 298,395 |  | 699,649 |  |

| Bank overdrafts | (849,427 | ) | (700,183 | ) | (1,549,610 | ) |

(448,173 | ) | (401,788 | ) | (849,961 | ) |

| Total | (448,173 | ) | (401,788 | ) | (849,961 | ) |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements

for the year ended 31 December 2025

1. | GOING CONCERN

| The directors have assessed based on the anticipated activities of the company, that there are adequate resources in place to meet the on-going costs of the business for a minimum of 12 months from the date of signing of the financial statements. In coming to this conclusion, the directors have assessed the entity's current financing arrangements and liquid resources. For this reason, the financial statements have been prepared on a going concern basis which presumes the utilisation of assets and liabilities in the normal course of business.

2. | STATUTORY INFORMATION

| Johnson Brothers (Belfast) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the General Information page.

3. | 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 as modified by the revaluation of certain assets.

| The financial statements are presented in Sterling (£).

| Basis of consolidation

| The consolidated financial statements incorporate the financial statements of the company and its subsidiary. As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the financial statements by virtue of section 408 of the Companies Act 2006.

| Significant judgements and estimates

| In applying the company's accounting policies the director is required to make significant judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherence subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The items in the financial statements where these judgements and estimates have been made include:

| Recoverability of Debtors:

| Estimates are made in respect to the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of the debtors are considered.

| Assessing indicators of impairment:

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the asset that would have been determined had no impairment loss been recognised for the asset in previous years. A reversal of an impairment loss is recognised immediately in the profit or loss.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised evenly over its estimated useful life of five years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

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

| Long leasehold | - | 10% on cost and Straight line over the life of the lease

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance and 20% on reducing balance

| Coffee Machines | - | 33.33% on cost

| Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Fair value is determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is based on the cost of purchase on a first in, first out basis.

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt beyond the normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured , initially, at present value of the future cash flow discounted at a market rate of interest similar for a debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the 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

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

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

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

| Leases of coffee equipment

| Coffee equipment is leased to customers under operating and finance leases as follows:

| Operating leases

| Income from operating leases is recognised in the profit and loss account on a straight line basis over the lease term.

| Finance leases

| Sales revenue is recognised at fair value at the commencement of the lease term and the asset held is presented as a receivable at an amount equivalent to the net investment in the lease.

| Finance income is recognised on a pattern reflecting a constant periodic return on the net investment in the finance lease. Lease payments relating to the period are applied against the gross investment to reduce both the principal and the unearned finance income.

4. | TURNOVER

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

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 29,255,236 |  | 26,418,658 |  |

| Republic of Ireland | 4,703,408 |  | 5,218,340 |  |

33,958,644 |  | 31,636,998 |  |

5. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 3,039,003 |  | 2,815,532 |  |

| Social security costs | 373,484 |  | 290,156 |  |

| Other pension costs | 295,423 |  | 336,696 |  |

3,707,910 |  | 3,442,384 |  |

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

| 2025 |  | 2024

| Number of production staff | 12 |  | 9 |  |

| Number of selling and distribution staff | 50 |  | 48 |  |

| Number of administrative staff | 36 |  | 38 |  |

98 |  | 95 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

5. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees by undertakings that were proportionately consolidated during the year was 13 (2024 - 13 ) .

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 713,550 |  | 627,803 |  |

| Directors' pension contributions to money purchase schemes | 139,511 |  | 187,027 |  |

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

| Money purchase schemes | 4 |  | 4 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 218,775 |  | 209,775 |  |

6. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 689,791 |  | 638,649 |  |

| (Profit)/loss on disposal of fixed assets | (4,259 | ) | 3,626 |  |

| Auditors' remuneration | 27,800 |  | 26,900 |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 22,214 |  | 34,507 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

8. | 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 | 120,183 |  | - |  |

| CT adjustment re prior year | - |  | 148 |  |

| Total current tax | 120,183 |  | 148 |  |

| Deferred tax | 63,986 |  | 45,144 |  |

| Tax on profit | 184,169 |  | 45,292 |  |

| 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:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 632,167 |  | 74,196 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 158,042 |  | 18,549 |  |

| Effects of:

| Depreciation in excess of capital allowances | 26,340 |  | 26,594 |  |

| Utilisation of tax losses | (213 | ) | - |  |

| property |

| CT Adjustment re PY | - |  | 149 |  |

| Total tax charge | 184,169 |  | 45,292 |  |

9. | INDIVIDUAL PROFIT AND LOSS ACCOUNT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

10. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 471,602 |  |

| AMORTISATION

| At 1 January 2025

| and 31 December 2025 | 471,602 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | - |  |

| Company

| Goodwill

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 10,000 |  |

| AMORTISATION

| At 1 January 2025

| and 31 December 2025 | 10,000 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | - |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

11. | TANGIBLE FIXED ASSETS

| Group

| Fixtures

| Long |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 January 2025 | 2,890,691 |  | 1,200,489 |  | 792,604 |  |

| Additions | - |  | 1,050 |  | 12,046 |  |

| Disposals | - |  | - |  | (1,695 | ) |

| Reclassification/transfer | - |  | (616 | ) | - |  |

| At 31 December 2025 | 2,890,691 |  | 1,200,923 |  | 802,955 |  |

| DEPRECIATION

| At 1 January 2025 | 1,124,284 |  | 855,775 |  | 623,984 |  |

| Charge for year | 106,607 |  | 51,598 |  | 74,734 |  |

| Eliminated on disposal | - |  | - |  | (1,189 | ) |

| Reclassification/transfer | - |  | 43,571 |  | - |  |

| At 31 December 2025 | 1,230,891 |  | 950,944 |  | 697,529 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,659,800 |  | 249,979 |  | 105,426 |  |

| At 31 December 2024 | 1,766,407 |  | 344,714 |  | 168,620 |  |

| Motor |  | Coffee |

| vehicles |  | Machines |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 1,246,193 |  | 2,330,373 |  | 8,460,350 |  |

| Additions | 36,529 |  | 732,672 |  | 782,297 |  |

| Disposals | (26,350 | ) | - |  | (28,045 | ) |

| Reclassification/transfer | - |  | 55 |  | (561 | ) |

| At 31 December 2025 | 1,256,372 |  | 3,063,100 |  | 9,214,041 |  |

| DEPRECIATION

| At 1 January 2025 | 678,308 |  | 1,900,278 |  | 5,182,629 |  |

| Charge for year | 131,872 |  | 324,980 |  | 689,791 |  |

| Eliminated on disposal | (21,865 | ) | - |  | (23,054 | ) |

| Reclassification/transfer | (693 | ) | (42,631 | ) | 247 |  |

| At 31 December 2025 | 787,622 |  | 2,182,627 |  | 5,849,613 |  |

| NET BOOK VALUE

| At 31 December 2025 | 468,750 |  | 880,473 |  | 3,364,428 |  |

| At 31 December 2024 | 567,885 |  | 430,095 |  | 3,277,721 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

11. | TANGIBLE FIXED ASSETS - continued

| Company

| Fixtures

| Long |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 January 2025 | 2,890,691 |  | 1,200,489 |  | 792,605 |  |

| Additions | - |  | 1,050 |  | 12,046 |  |

| Disposals | - |  | - |  | (1,695 | ) |

| Reclassification/transfer | - |  | (616 | ) | - |  |

| At 31 December 2025 | 2,890,691 |  | 1,200,923 |  | 802,956 |  |

| DEPRECIATION

| At 1 January 2025 | 1,124,284 |  | 855,775 |  | 623,984 |  |

| Charge for year | 106,607 |  | 51,598 |  | 74,734 |  |

| Eliminated on disposal | - |  | - |  | (1,189 | ) |

| Reclassification/transfer | - |  | 43,571 |  | - |  |

| At 31 December 2025 | 1,230,891 |  | 950,944 |  | 697,529 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,659,800 |  | 249,979 |  | 105,427 |  |

| At 31 December 2024 | 1,766,407 |  | 344,714 |  | 168,621 |  |

| Motor |  | Coffee |

| vehicles |  | Machines |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 497,342 |  | 2,330,373 |  | 7,711,500 |  |

| Additions | 36,529 |  | 732,672 |  | 782,297 |  |

| Disposals | (26,350 | ) | - |  | (28,045 | ) |

| Reclassification/transfer | - |  | 55 |  | (561 | ) |

| At 31 December 2025 | 507,521 |  | 3,063,100 |  | 8,465,191 |  |

| DEPRECIATION

| At 1 January 2025 | 237,077 |  | 1,900,278 |  | 4,741,398 |  |

| Charge for year | 70,013 |  | 324,980 |  | 627,932 |  |

| Eliminated on disposal | (21,865 | ) | - |  | (23,054 | ) |

| Reclassification/transfer | (693 | ) | (42,631 | ) | 247 |  |

| At 31 December 2025 | 284,532 |  | 2,182,627 |  | 5,346,523 |  |

| NET BOOK VALUE

| At 31 December 2025 | 222,989 |  | 880,473 |  | 3,118,668 |  |

| At 31 December 2024 | 260,265 |  | 430,095 |  | 2,970,102 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

12. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 4,299 |  |

| NET BOOK VALUE

| At 31 December 2025 | 4,299 |  |

| At 31 December 2024 | 4,299 |  |

| The subsidiary company is Johnson Brothers (Distributing) Ltd which has the same registered office as the holding company.

13. | INVESTMENT PROPERTY

| Group

| Total

£ |

| FAIR VALUE

| At 1 January 2025

| and 31 December 2025 | 4,178,560 |  |

| NET BOOK VALUE

| At 31 December 2025 | 4,178,560 |  |

| At 31 December 2024 | 4,178,560 |  |

| Fair value at 31 December 2025 is represented by:

£ |

| Valuation in 2025 | 4,178,560 |  |

| If Investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 3,314,082 |  | 3,314,082 |  |

| Investment property was valued on open market value basis on 18 March 2021 by McConnell Chartered Surveyors .

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

13. | INVESTMENT PROPERTY - continued

| Company

| Total

£ |

| FAIR VALUE

| At 1 January 2025

| and 31 December 2025 | 4,178,560 |  |

| NET BOOK VALUE

| At 31 December 2025 | 4,178,560 |  |

| At 31 December 2024 | 4,178,560 |  |

| The Directors have valued the investment properties at 31 December 2025 at £4,178,560 (2024: 4,178,560)

14. | STOCKS

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Raw materials | 552,645 |  | 257,973 |  | 552,645 |  | 257,973 |  |

| Finished goods | 5,984,853 |  | 5,082,578 |  | 5,212,888 |  | 4,325,532 |  |

6,537,498 |  | 5,340,551 |  | 5,765,533 |  | 4,583,505 |  |

15. | DEBTORS

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due within one year: |

| Trade debtors | 6,617,734 |  | 5,692,619 |  | 5,854,067 |  | 4,905,138 |  |

| Amounts owed by group undertakings | - |  | - |  | 1,458,758 |  | 1,437,658 |  |

| Other debtors | 33,347 |  | 99,796 |  | 33,347 |  | 99,796 |  |

| VAT | 10,317 |  | - |  | 9,909 |  | - |  |

| Prepayments and accrued income | 149,837 |  | 150,631 |  | 132,935 |  | 133,222 |  |

6,811,235 |  | 5,943,046 |  | 7,489,016 |  | 6,575,814 |  |

| Amounts falling due after more than one year: |

| Other debtors | 131,822 |  | 108,845 |  | 131,822 |  | 108,845 |  |

| Aggregate amounts | 6,943,057 |  | 6,051,891 |  | 7,620,838 |  | 6,684,659 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 17) | 1,549,610 |  | 849,427 |  | 1,549,610 |  | 849,427 |  |

| Trade creditors | 4,559,882 |  | 3,315,323 |  | 4,266,642 |  | 2,997,825 |  |

| Tax | 120,183 |  | - |  | 36,063 |  | - |  |

| Social security and other taxes | 128,160 |  | 108,346 |  | 128,202 |  | 108,338 |  |

| VAT | - |  | 46,273 |  | - |  | 64,518 |  |

| Other creditors | 20,168 |  | 15,058 |  | 20,168 |  | 15,058 |  |

| Accrued expenses | 114,072 |  | 196,417 |  | 89,424 |  | 153,147 |  |

6,492,075 |  | 4,530,844 |  | 6,090,109 |  | 4,188,313 |  |

17. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Amounts falling due within one year or on | demand: |

| Bank overdrafts | 1,549,610 |  | 849,427 |  | 1,549,610 |  | 849,427 |  |

18. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank overdrafts | 1,549,610 |  | 849,427 |  | 1,549,610 |  | 849,427 |  |

| The overdraft are secured by an equitable assignment over book debts, an intercompany cross guarantee, a legal charge over the company's land and buildings at 137/139 Hillsborough Old Road, Lisburn and units 9 and 13 Blaris Industrial Estate, Lisburn and a debenture over the company's assets.

19. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax | 300,454 |  | 236,468 |  | 239,014 |  | 159,563 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

19. | PROVISIONS FOR LIABILITIES - continued

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 236,468 |  |

| Charge to Profit and Loss Account during year | 63,986 |  |

| Balance at 31 December 2025 | 300,454 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 159,563 |  |

| Charge to Income Statement during year | 79,451 |  |

| Balance at 31 December 2025 | 239,014 |  |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 250 | Ordinary 'A' Shares | £1 | 250 |  | 250 |  |

| 4,347 | Ordinary 'B' Shares | £1 | 4,347 |  | 4,347 |  |

4,597 |  | 4,597 |  |

21. | RESERVES

| Group

| Capital |

| Retained |  | Revaluation |  | redemption |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 13,279,912 |  | 1,192,753 |  | 5,403 |  | 14,478,068 |  |

| Profit for the year | 447,998 |  | 447,998 |  |

| Transfer revaluation to

| revenue reserves | 83,943 |  | (83,943 | ) | - |  | - |  |

| At 31 December 2025 | 13,811,853 |  | 1,108,810 |  | 5,403 |  | 14,926,066 |  |

| Johnson Brothers (Belfast) Limited (Registered number: NI004697) |

Notes to the Consolidated Financial Statements - continued

for the year ended 31 December 2025

21. | RESERVES - continued

| Company

| Capital |

| Retained |  | Revaluation |  | redemption |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2025 | 12,981,551 |  | 1,192,753 |  | 5,403 |  | 14,179,707 |  |

| Profit for the year | 241,177 |  | 241,177 |  |

| Transfer revaluation to

| revenue reserves | 83,943 |  | (83,943 | ) | - |  | - |  |

| At 31 December 2025 | 13,306,671 |  | 1,108,810 |  | 5,403 |  | 14,420,884 |  |

| Revaluation reserve

| Includes all current and prior year amounts recognised on the revaluation of property.

| Profit and loss account

| Includes all current and prior year retained profits and losses.

| Capital redemption reserve

| Includes the nominal value of shares redeemed.

22. | CAPITAL COMMITMENTS

2025 | 2024 |

£ | £ |

| Contracted but not provided for in the

| financial statements | 27,500 |  | 62,500 |  |

23. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling parties of the company are the shareholders Mr D W M Johnson and Mr M A Johnson.