Scientific Laboratory Supplies Group Ltd - Limited company accounts 25.1

REGISTERED NUMBER: 10209555 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31st December 2025

for

Scientific Laboratory Supplies Group Ltd

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

6

Energy and Carbon Report forming part of the Report of
the Directors

8

Report of the Independent Auditors

10

Consolidated Statement of Comprehensive Income

14

Consolidated Balance Sheet

15

Company Balance Sheet

16

Consolidated Statement of Changes in Equity

17

Company Statement of Changes in Equity

18

Consolidated Cash Flow Statement

19

Notes to the Consolidated Cash Flow Statement

20

Notes to the Consolidated Financial Statements

22

DIRECTORS:

D. E. Wencker

I. A. Roulstone

J. J. R. Chapman

N. A. Bewell

SECRETARY:

N. A. Bewell

REGISTERED OFFICE:

Orchard House

The Square

Hessle

East Yorkshire

HU13 0AE

REGISTERED NUMBER:

10209555 (England and Wales)

AUDITORS:

Sadofskys

Statutory Auditors

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

BANKERS:

Barclays Bank plc

Humber & Lincolnshire Team

4th Floor

2 Humber Quays

Hull

HU1 2BN

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

REVIEW OF BUSINESS

The group is principally a distributor of laboratory equipment and consumables with a broad product portfolio. The group also offers national and international laboratory equipment installation, service and maintenance. This enables the group to meet customer demand through a tailored, flexible and fast service. The group's objective remains to position itself as the supplier of choice in its key markets by supplying high-quality, good-value products, service and brands to its customer base.

The key financial performance indicators used to monitor performance are turnover, gross profit percentage, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) and EBITDA percentage.

The key financial performance indicators for the last four years are as follows:

Year ended

31.12.2025

31.12.2024

31.12.2023

31.12.2022

£

Turnover

118.9M

115.0M

111.9M

99.4M

Gross Profit Margin

21.5%

21.7%

22.9%

22.1%

EBITDA

5.8M

5.6M

6.9M

5.5M

EBITDA %

4.9%

6.2%

5.6%

The Directors are pleased with the performance of the group during the year.

In line with its long-term strategic plan, the group has continued to assess the market and seek opportunities to accelerate growth and address gaps in market and portfolio coverage. This has resulted in targeted investment within existing group companies and the completion of two further acquisitions into the group during 2025.

The group continues to seek new markets, new supplier relationships and additional product lines, allowing it to approach the market with a strong portfolio and presence. The group is committed to serving the market with a broad, complete and market-leading product and service portfolio alongside first-class, customer-oriented service. While the market has seen increased competition in an uncertain wider macroeconomic environment, the Board believes that the sector in which it operates, together with the group's longer-term strategic plan, will continue to provide opportunities for future growth and development.

The Directors remain focused on the importance of the group's employees. The enhancement of staff satisfaction, engagement, morale, diversity, wellbeing and equal opportunities, together with competitive pay and benefits, is key to the group's values and strategic plan. The group will continue to invest in its people while managing the increased cost of employment levied on business through Central Government policy.

Overall EBITDA improved compared with 2024 to £5.8M (4.9% of turnover). Despite challenging market conditions and increased cost and margin pressures, the group continued to grow turnover and improve total EBITDA. The Directors consider the group to be well positioned to deliver further sales and EBITDA growth in line with its long-term strategic goals.

Overall, the group was in a healthy financial position at the close of 2025. The group had cash reserves of £9.8M at the year-end balance sheet date and very little external borrowing. The group continues to hold sufficient cash reserves to allow it to trade effectively.

These results are reflected in a healthy balance sheet, with net assets of £31.9M (2024: £30.2M).

PRINCIPAL RISKS AND UNCERTAINTIES

The Board of Directors is ultimately responsible for risk management and continues to develop policies and procedures that reflect the nature and scale of the business. These are designed to identify, manage, and mitigate risk. The Board has identified the following areas of risk to the business and strategies to manage and mitigate the risk.

Financial instrument risk

The group has an established risk and financial management framework whose primary objectives are to protect the group and its companies from events that hinder the group's performance objectives. The objectives aim to ensure sufficient working capital exists and monitor the management of risk at a business unit level. More specifically, the group has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to any individual party is subject to a limit which is continually reviewed by the Directors and Senior Managers. In addition, the group reviews its trade receivables analysis monthly, and actions plans for overdue account are put in place when identified. In all instances review processes are in place with actions, if necessary, to ensure that the risks posed in these areas are mitigated fully. Risks are assessed through operational review meetings, KPI's and support from external advisors. When needed, changes are made to internal processes and controls are applied to address any changes in this area.

Competitive Risks

The group operates in a competitive market and faces the ongoing challenge of a changing competitive landscape along with pricing pressure across most of its markets. The group has an effective, coherent, and consistent strategy to respond to its competitors and market, coupled with a flexible and service orientated operating model to counter these risks.

Price Risk

The group is exposed to fluctuations in supplier pricing mainly through changes in commodity prices. The group manages this risk through maintaining adequate inventory levels and continuously monitoring supplier pricing.

Credit Risk

Credit risk arises from cash and deposit balances held with banks as well as credit exposures to customers. Credit risks are managed through working with only approved banks that are regularly monitored for their credit worthiness. Credit exposures are managed by the group through implementing policies that require:

- appropriate credit checks to be performed on customers prior to sales being made

- collection of receivable balances within agreed payment terms

- regular review on the credit status of existing customers

Liquidity Risk

The group manages liquidity risk via credit facilities and long-term debt. The group has a strong liquidity ratio, and additionally has sufficient facilities in place with both its bankers and through ultimate parent facilities to mitigate any negative cash flow risks.

Foreign exchange risk

The group has exposure to foreign currency transactions but does not consider currency movements to be a risk factor in relation to the business. The group operates foreign currency bank accounts to offset currency receipts and payment and when necessary, enters currency hedge contracts to control its exposures in this area.

Interest Rate and Cash Flow Risk

The group has access to interest bearing facilities and manages its risk to variable rate changes by closely managing cash generation by its operations and the application of robust cash collection targets throughout the company.

SECTION 172(1) STATEMENT

Statement by the Directors in performance of their statutory duties in accordance with S172(1) of the Companies Act 2006

The Board of Scientific Laboratory Supplies Group Limited considers, both individually and collectively, the matters set out in section 172(1) of the Companies Act 2006 when making decisions.

The Directors recognise that the long-term success of the group depends on maintaining effective relationships with key stakeholders (including employees, customers, suppliers, banking partners, shareholders and the communities in which we operate) and on maintaining high standards of business conduct. The Board seeks to understand stakeholder views through regular management reporting, operational reviews and direct engagement, and takes these into account alongside the company's purpose, strategy, risk appetite and available resources.

During the year, the Board's principal areas of focus included progressing the group's long-term strategic plan (including the integration into the group of two acquisitions completed in 2025), investment in systems and capabilities to support future growth, and continued oversight of the group's financial strength, risk management and operational resilience.

Consequences of long-term decisions

The Directors are aware of the long-term implications of the strategic decisions they make and consider the impact of those decisions on the business, its employees and other stakeholders.

During the year, the Directors and the leadership teams of the subsidiary undertakings reviewed and refreshed the group's five-year strategic plan, together with its vision, mission and values. The strategy is structured around five key pillars which the Board considers critical to achieving long-term objectives. In reviewing and implementing the strategy, the Directors balance the need to deliver continued growth with the group's capabilities and infrastructure. More detailed plans and objectives for the coming year are incorporated into the annual budgets of the group's trading companies.

Employees

The Directors recognise the group's workforce as a key asset and consider employee engagement, wellbeing, development, diversity and inclusion when making decisions. Employees are offered competitive pay and benefits appropriate to their role, and the group undertakes an annual review of its benefits package. During the year, employees were involved in an engagement scheme to share feedback on company matters, including leadership, operations, wellbeing initiatives, incentive schemes, pay and conditions, and general business improvement. Feedback is reviewed by management and informs prioritisation of initiatives and investment.

Customers

The Directors recognise customer loyalty as invaluable and that meeting customer needs is central to the continuing success of the group. The group aims to deliver high levels of service and to identify solutions that support customers' requirements. Customer feedback is reviewed and used to improve service, relationships and communication.

Suppliers and Partners

The Directors recognise and value the role that suppliers and business partners play in the group's success. The group seeks to build long-term relationships, working collaboratively to maximise mutual value and to support the needs of customers. The Directors consider the importance of maintaining a strong reputation for fair dealing and high standards of business conduct in these relationships.

Communities

The Directors recognise the group's responsibility to be a supportive and engaged member of the communities in which it operates. The group supports several charities through fundraising and awareness activities and encourages employee involvement. The Directors also consider the impact of the group's operations on the environment and, where appropriate, support initiatives that reduce waste and improve efficiency.

FUTURE DEVELOPMENTS

The group remains committed to growing its market share, turnover and EBITDA in a sustainable way, aligned to its long-term strategic plan. The strategic plan includes initiatives to expand the business organically and, where appropriate, through further acquisitions, including entry into new geographical markets and expansion of customer, product and service portfolios.

ON BEHALF OF THE BOARD:

N. A. Bewell - Director

8th May 2026

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

DIVIDENDS

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

FUTURE DEVELOPMENTS

Details of the company's future developments have been provided in the strategic report.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

D. E. Wencker

I. A. Roulstone

J. J. R. Chapman

N. A. Bewell

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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

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

AUDITORS

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

ON BEHALF OF THE BOARD:

N. A. Bewell - Director

8th May 2026

Scientific Laboratory Supplies Group Limited takes action to improve energy efficiency every year as part of its drive for improvement in both energy performance and in the delivery of its ISO14001 Management System.

Methodology

The methodology applied to the calculation of GHG emissions is the GHG Protocol Corporate Accounting and Reporting Standard. Conversion factors have been taken from the UK Government's Greenhouse gas reporting: conversion factors 2025 which are available on the Government's website at;

https://www.gov.uk/government/publications/greenhouse-gas-reporting-conversion-factors-2025

Data has been collected from the following sources:

Data Type

Scope 1 Data Source

Gas Consumption

Invoices from supplier supported by meter readings taken on the last day of the
month

Van Fleet Diesel Consumption

Fuel card monthly invoicing in litres and van mileage cross referenced with fuel
type

Company car consumption

Company car mileage claimed for business activity, cross referenced with fuel
type

Data Type

Scope 2 Data Source

Electricity Consumption

Invoices from supplier supported by meter readings taken on the last day of the
month

Electricity production

Primary data from solar production monitoring software

Data Type

Scope 3 Data Source

Business travel

Employee-owned vehicle mileage claimed for business activity, cross referenced
with fuel type

Total energy consumption (Scope 1 and Scope 2)

YE 31/12/25

YE 31/12/24

tCO2e

Emissions resulting from activities for which the company is responsible
involving the combustion of gas (scope 1)

4.13

55.85

Emissions resulting from activities for which the company is responsible for
the combustion of fuel for the purpose of transport (scope 1)

278.85

215.86

Emissions resulting from activities for which the company is responsible for
the combustion of other fuels (scope 1)

28.1

48.00

Emissions resulting from the purchase of electricity by the company for its
own use (Scope 2, market-based)

8.73

19.64

Emissions resulting from the purchase of electricity by the company for its
own use (Scope 2, Location-based)

85.29

55.84

Emissions resulting from business travel in rental or employee-owned
vehicles where the company is responsible for purchasing the fuel (Scope 3,
Cat. 7 subset)

95.67

62.13

Total emissions (Scope 1 and Scope 2) Market based

319.81

339.35

Total emissions (Scope 1, 3, and subset of Scope 3) Market based

415.48

401.48

Intensity Ratio emissions per £million of turnover

3.49:1

During the year, the Group's largest company completed its first full year in the new National Distribution Centre (NDC), a BREAAM "Excellent" facility. The centre operates entirely on electricity, with no gas consumption. Additionally, 45% of the total electricity consumption in the facility is self-generated.

The remaining group companies have made transitions from natural gas to biogas. Due to this, emissions from gas combustion have decreased by 93%.

We are continuously investigating energy efficiency opportunities to reduce our overall consumption, such as through heating control systems.

Transport efficiency measures are in place to ensure optimal fuel consumption, alongside the efforts to transition company vehicles towards hybrid and electric.

Opinion

We have audited the financial statements of Scientific Laboratory Supplies Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2025 which comprise the Consolidated Statement of 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 31st 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.

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, 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.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of a holding company.

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, UK tax legislation, and data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Alan Brocklehurst (Senior Statutory Auditor)

for and on behalf of Sadofskys

Statutory Auditors

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

8th May 2026

Scientific Laboratory Supplies Group Ltd (Registered number: 10209555)

Consolidated

Statement of Comprehensive

Income

for the year ended 31st December 2025

2025

2024

Notes

£

TURNOVER

118,903,624

115,060,743

Cost of sales

93,384,564

90,116,276

GROSS PROFIT

25,519,060

24,944,467

Distribution costs

10,253,840

10,075,005

Administrative expenses

12,880,770

12,408,494

23,134,610

22,483,499

2,384,450

2,460,968

Other operating income

286,933

221,421

OPERATING PROFIT

4

2,671,383

2,682,389

Interest receivable and similar income

60,532

62,443

2,731,915

2,744,832

Interest payable and similar expenses

7

341,532

337,014

PROFIT BEFORE TAXATION

2,390,383

2,407,818

Tax on profit

8

805,653

984,264

PROFIT FOR THE FINANCIAL YEAR

1,584,730

1,423,554

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,584,730

1,423,554

Profit attributable to:

Owners of the parent

1,549,438

1,380,006

Non-controlling interests

35,292

43,548

1,584,730

1,423,554

Total comprehensive income attributable to:

Owners of the parent

1,584,730

1,423,554

FIXED ASSETS

Intangible assets

10

18,976,155

20,389,120

Tangible assets

11

5,381,911

5,578,108

Investments

12

-

24,358,066

25,967,228

CURRENT ASSETS

Stocks

13

8,163,774

8,068,408

Debtors

14

17,444,460

16,474,244

Cash at bank and in hand

9,759,702

7,595,715

35,367,936

32,138,367

CREDITORS

Amounts falling due within one year

15

21,466,457

20,988,049

NET CURRENT ASSETS

13,901,479

11,150,318

TOTAL ASSETS LESS CURRENT
LIABILITIES

38,259,545

37,117,546

CREDITORS

Amounts falling due after more than one year

16

(5,299,208

)

(5,714,683

)

PROVISIONS FOR LIABILITIES

20

(1,049,876

)

(1,077,132

)

NET ASSETS

31,910,461

30,325,731

CAPITAL AND RESERVES

Called up share capital

21

188,981

Share premium

22

14,805,019

Retained earnings

22

17,180,106

15,630,668

SHAREHOLDERS' FUNDS

32,174,106

30,624,668

NON-CONTROLLING INTERESTS

23

(263,645

)

(298,937

)

TOTAL EQUITY

31,910,461

30,325,731

The financial statements were approved by the Board of Directors and authorised for issue on 8th May 2026 and were signed on its behalf by:

N. A. Bewell - Director

FIXED ASSETS

Intangible assets

10

-

Tangible assets

11

-

Investments

12

20,575,829

CURRENT ASSETS

Debtors

14

240,000

Cash at bank

24,252

5,352

264,252

245,352

CREDITORS

Amounts falling due within one year

15

2,411,934

2,320,071

NET CURRENT LIABILITIES

(2,147,682

)

(2,074,719

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,428,147

18,501,110

CREDITORS

Amounts falling due after more than one year

16

903,490

NET ASSETS

17,524,657

17,597,620

CAPITAL AND RESERVES

Called up share capital

21

188,981

Share premium

22

14,805,019

Retained earnings

22

2,530,657

2,603,620

SHAREHOLDERS' FUNDS

17,524,657

17,597,620

Company's loss for the financial year

(72,963

)

(80,984

)

The financial statements were approved by the Board of Directors and authorised for issue on 8th May 2026 and were signed on its behalf by:

N. A. Bewell - Director

Called up

share

Retained

Share

capital

earnings

premium

£

Balance at 1st January 2024

188,981

14,250,662

14,805,019

Changes in equity

Total comprehensive income

-

1,380,006

-

188,981

15,630,668

14,805,019

Non-controlling interest arising on
business combination

-

Balance at 31st December 2024

188,981

15,630,668

14,805,019

Changes in equity

Total comprehensive income

-

1,549,438

-

188,981

17,180,106

14,805,019

Non-controlling interest arising on
business combination

-

Balance at 31st December 2025

188,981

17,180,106

14,805,019

Non-controlling

Total

interests

equity

£

Balance at 1st January 2024

29,244,662

(342,485

)

28,902,177

Changes in equity

Total comprehensive income

1,380,006

-

1,380,006

30,624,668

(342,485

)

30,282,183

Non-controlling interest arising on
business combination

-

43,548

Balance at 31st December 2024

30,624,668

(298,937

)

30,325,731

Changes in equity

Total comprehensive income

1,549,438

-

1,549,438

32,174,106

(298,937

)

31,875,169

Non-controlling interest arising on
business combination

-

35,292

Balance at 31st December 2025

32,174,106

(263,645

)

31,910,461

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

Balance at 1st January 2024

188,981

2,684,604

14,805,019

17,678,604

Changes in equity

Total comprehensive income

-

(80,984

)

-

(80,984

)

Balance at 31st December 2024

188,981

2,603,620

14,805,019

17,597,620

Changes in equity

Total comprehensive income

-

(72,963

)

-

(72,963

)

Balance at 31st December 2025

188,981

2,530,657

14,805,019

17,524,657

Cash flows from operating activities

Cash generated from operations

1

5,584,139

3,725,498

Interest paid

(305,026

)

(310,492

)

Interest element of hire purchase payments
paid

(36,506

)

(26,522

)

Tax paid

(803,956

)

(1,046,774

)

Tax refund

-

69,636

Tax in relation to prior years

-

(3,538

)

Net cash from operating activities

4,438,651

2,407,808

Cash flows from investing activities

Purchase of intangible fixed assets

(590,275

)

(282,015

)

Purchase of tangible fixed assets

(1,204,527

)

(1,692,240

)

Sale of tangible fixed assets

268,175

291,567

Investment in group company disposed

-

2

Impairment in goodwill

7,552

150,000

Interest received

60,532

62,443

Net cash from investing activities

(1,458,543

)

(1,470,243

)

Cash flows from financing activities

Loan repayments in period

(5,823

)

(5,298

)

New hire purchase in year

245,251

462,827

Capital repayments in period

(243,110

)

(170,919

)

Loan movement within group companies

(812,439

)

(457,342

)

Net cash from financing activities

(816,121

)

(170,732

)

Increase in cash and cash equivalents

2,163,987

766,833

Cash and cash equivalents at beginning of
year

2

7,595,715

6,828,882

Cash and cash equivalents at end of year

2

9,759,702

7,595,715

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

2025

2024

£

Profit before taxation

2,390,383

2,407,818

Depreciation charges

3,172,624

1,116,578

Profit on disposal of fixed assets

(44,386

)

(150,533

)

Amortisation charges

-

2,022,715

Finance costs

341,532

337,014

Finance income

(60,532

)

(62,443

)

5,799,621

5,671,149

Increase in stocks

(95,366

)

(883,324

)

(Increase)/decrease in trade and other debtors

(982,795

)

1,531,952

Increase/(decrease) in trade and other creditors

862,679

(2,594,279

)

Cash generated from operations

5,584,139

3,725,498

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 31st December 2025

31/12/25

1/1/25

£

Cash and cash equivalents

9,759,702

7,595,715

Year ended 31st December 2024

31/12/24

1/1/24

£

Cash and cash equivalents

7,595,715

6,828,882

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/25

Cash flow

At 31/12/25

£

Net cash

Cash at bank and in hand

7,595,715

2,163,987

9,759,702

7,595,715

2,163,987

9,759,702

Debt

Finance leases

(503,261

)

(2,141

)

(505,402

)

Debts falling due within 1 year

(5,297

)

-

(5,297

)

Debts falling due after 1 year

(23,482

)

5,823

(17,659

)

(532,040

)

3,682

(528,358

)

Total

7,063,675

2,167,669

9,231,344

1.	STATUTORY INFORMATION

Scientific Laboratory Supplies Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

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

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual related results. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year are addressed below.

- Useful life and residual value

An estimation of the residual values and useful lives of tangible assets and intangible assets is required to be made at least annually. Judgement is required in estimating the useful lives of fixed asset categories. The residual value is the estimated amount that would be currently obtained from the disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Turnover

Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the customer has acknowledged delivery for the goods.

Goodwill

Goodwill being the amount paid in connection with the acquisition of businesses, are being amortised over the useful life of either 10 or 20 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.

Trade marks are being amortised evenly over their estimated useful life of twenty years.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance, 25% on cost, 20% on cost, 15% on reducing balance, 15% on cost, 10% on cost, 6.67% on cost, 15% to 25% on cost and straight line over 15 years

Fixtures and fittings

-

25% on cost, 15% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance and 25% on cost

Computer equipment

-

33% on cost, 25% on cost, 20% on cost and 15% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments

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

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The 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.

Going concern

The Directors are satisfied that the financial statements have been prepared on a going concern basis. The group in deploying its long term strategy believes it is well positioned to maintain and win further share in the expanding and diverse market segments in which the group operates.

Government grants

Government grants are recognised using the accruals model. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. Grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the assets to which they relate.

A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, is credited to income in the period in which it becomes receivable.

Financial assets, financial liabilities and equity

Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost, less any impairment.

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

Wages and salaries

14,601,083

14,321,482

Social security costs

1,616,832

1,309,882

Other pension costs

728,012

681,655

16,945,927

16,313,019

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

2025

2024

Selling and Distribution

263

261

Administration

102

107

365

368

The average number of employees by undertakings that were proportionately consolidated during the year was 365 (2024 - 368 ) .

2025

2024

£

Directors' remuneration

1,511,999

1,518,983

Directors' pension contributions to money purchase schemes

197,692

221,832

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

Money purchase schemes

15

Information regarding the highest paid director is as follows:

2025

2024

£

Emoluments etc

186,276

187,900

Pension contributions to money purchase schemes

15,695

25,466

4.	OPERATING PROFIT

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

2025

2024

£

Hire of plant and machinery

9,238

15,529

Other operating leases

885,366

1,290,944

Depreciation - owned assets

979,399

956,580

Depreciation - assets on hire purchase contracts

197,536

159,998

Profit on disposal of fixed assets

(44,386

)

(150,533

)

Goodwill amortisation

1,869,069

1,940,732

Development costs amortisation

126,619

81,983

Foreign exchange differences

(196,740

)

(44,652

)

5.	AUDITORS' REMUNERATION

2025

2024

£

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

39,000

37,800

Fees payable to the company's auditors and their associates for other services

to the group:

The auditing of accounts of any associate of the company

12,100

11,000

Total audit fees

51,100

48,800

Other non- audit services

25,000

24,500

Total non-audit fees

25,000

24,500

Total fees payable

76,100

73,300

6.	EXCEPTIONAL ITEMS

2025

2024

£

Exceptional items -

expenditure

(23,980

)

(76,061

)

Exceptional items relate to dilapidation costs.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

Bank loan interest

234

799

Interest on corporation tax

13,534

8,845

Other loan interest

291,258

300,848

Hire purchase interest

36,506

26,522

341,532

337,014

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

840,585

932,375

Taxation re prior year

-

3,538

Total current tax

840,585

935,913

Deferred taxation

(34,932

)

48,351

Tax on profit

805,653

984,264

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

2,390,383

2,407,818

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

597,596

601,955

Effects of:

Expenses not deductible for tax purposes

135

-

Losses carried forward

7,662

-

Losses brought forward utilised

(26,748

)

(32,025

)

Amortisation of goodwill/impairment of intangibles

469,156

489,684

Taxation re prior year

15,786

72,949

charge

Overseas profits taxed overseas/different rates

(97,665

)

(148,299

)

charge

Depreciation on non-qualifying assets

7,677

-

Expenditure previously disallowed now allowable

(167,946

)

-

Total tax charge

805,653

984,264

9.	INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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

10.	INTANGIBLE FIXED ASSETS

Group

Trade

Development

Goodwill

marks

costs

Totals

£

COST

At 1st January 2025

31,566,547

3,064

553,289

32,122,900

Additions

326,954

-

263,321

590,275

Impairments

(7,552

)

-

(7,552

)

At 31st December 2025

31,885,949

3,064

816,610

32,705,623

AMORTISATION

At 1st January 2025

11,628,621

-

105,159

11,733,780

Amortisation for year

1,869,069

-

126,619

1,995,688

At 31st December 2025

13,497,690

-

231,778

13,729,468

NET BOOK VALUE

At 31st December 2025

18,388,259

3,064

584,832

18,976,155

At 31st December 2024

19,937,926

3,064

448,130

20,389,120

11.	TANGIBLE FIXED ASSETS

Group

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

COST

At 1st January 2025

16,346

3,687,373

142,695

Additions

-

248,213

97,706

Disposals

-

(67,706

)

(33,873

)

At 31st December 2025

16,346

3,867,880

206,528

DEPRECIATION

At 1st January 2025

8,721

328,030

37,087

Charge for year

-

330,174

46,115

Eliminated on disposal

-

(59,253

)

(9,612

)

At 31st December 2025

8,721

598,951

73,590

NET BOOK VALUE

At 31st December 2025

7,625

3,268,929

132,938

At 31st December 2024

7,625

3,359,343

105,608

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1st January 2025

1,609,826

2,591,049

8,047,289

Additions

586,059

272,549

1,204,527

Disposals

(464,187

)

-

(565,766

)

At 31st December 2025

1,731,698

2,863,598

8,686,050

DEPRECIATION

At 1st January 2025

511,946

1,583,397

2,469,181

Charge for year

403,218

397,428

1,176,935

Eliminated on disposal

(273,112

)

-

(341,977

)

At 31st December 2025

642,052

1,980,825

3,304,139

NET BOOK VALUE

At 31st December 2025

1,089,646

882,773

5,381,911

At 31st December 2024

1,097,880

1,007,652

5,578,108

The net book value of tangible fixed assets includes £ 651,501 (2024 - £ 635,982 ) in respect of assets held under hire purchase contracts.

12.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1st January 2025

and 31st December 2025

20,575,829

NET BOOK VALUE

At 31st December 2025

20,575,829

At 31st December 2024

20,575,829

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

Subsidiaries

SLS Group Limited

Registered office: Orchard House, The Square, Hessle, HU13 0AE

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

9,380,360

6,253,986

Profit for the year

3,126,374

1,527,638

Scientific Laboratory Supplies Limited

Registered office: Orchard House, The Square, Hessle, HU13 0AE

Nature of business: Distributor of laboratory equipment and consumables

%

Class of shares:

holding

Ordinary

100.00

Preference

100.00

2025

2024

£

Aggregate capital and reserves

16,679,704

16,497,704

Profit for the year

182,000

533,641

Analab Analytical Laboratory Supplies Limited

Registered office: Unit 2 Rathdown Close, Lissue Industrial Estate West, Moira Road, Lisburn, BT28 2RB

Nature of business: Distributor of laboratory equipment and consumables

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

9,397

9,272

Profit for the year

125

2,347

Gem Scientific (2014) Limited

Registered office: Orchard House, The Square, Hessle, HU13 0AE

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

(26,640

)

(426,615

)

Profit for the year

399,975

449,909

Gem Scientific Limited

Registered office: Unit 301, Batley Enterprise Centre, 513 Bradford Road, Batley WF17 8LL

Nature of business: Distributor of laboratory equipment and consumables

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

2,529,565

2,478,369

Profit for the year

451,196

489,345

Northern Balance Ltd

Registered office: Unit 3 Bamburgh Court, First Avenue, Team Valley Trading Estate, Gateshead NE11 0TX

Nature of business: Supply and install of weighing equipment

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

691,842

777,761

Loss for the year

(85,918

)

(12,902

)

Sparks Lab Supplies Limited

Registered office: Unit 4 Block K, Greenogue Business Park, Grants Road, Rathcoole, Dublin

Nature of business: Distributor of laboratory equipment and consumables

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

252,488

1,034,098

Profit/(loss) for the year

3,593

(80,544

)

Scientific Laboratory Supplies (Ireland) Limited

Registered office: Charter House, 5 Pembroke Row, Dublin 2, Ireland.

Nature of business: Distributor of laboratory equipment and consumables

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

2,883,887

2,131,784

Profit for the year

1,729,329

1,150,846

Aurora Scientific Limited

Registered office: Unit 2 Gypsy Lane, Keymsham, Bristol BS21 2ED

Nature of business: Supplier of specialised sampling equipment

%

Class of shares:

holding

Ordinary

65.00

2025

2024

£

Aggregate capital and reserves

(373,817

)

(474,651

)

Profit for the year

100,843

124,423

SLS Scientific Laboratory Supplies (Kenya) Limited

Registered office: P.O. Box 40111, Nairobi, Kenya

Nature of business: Distributor of laboratory equipment and consumables

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

(39,667

)

(181,226

)

Profit for the year

141,727

28,955

Flow Group Holdings Limited

Registered office: Orchard House, The Square, Hessle, HU13 0AE

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

4,615,475

4,615,580

Profit/(loss) for the year

999,475

(340,069

)

Wolf Laboratories Limited

Registered office: Colenso House, 1 Deans Lane, Pocklington, East Riding of Yorkshire, YO42 2PX

Nature of business: Distributor of laboratory equipment and consumables

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

2,341,311

2,317,796

Profit for the year

598,515

69,122

SCBS Holdings Limited

Registered office: 1 Brewster Square, Brucefield Industrial Estate, Livingston, Scotland, EH54 9BJ

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

540,288

Profit for the year

1,050,000

460,000

The above investment was acquired on 11th January 2023.

C & M Scientific Limited

Registered office: 1 Brewster Square, Brucefield Industrial Estate, Livingston, Scotland, EH54 9BJ

Nature of business: Laboratory equipment servicing

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

2,003,192

1,972,813

Profit for the year

980,379

27,521

The above investment was acquired on 11th January 2023.

Biostore UK Ltd

Registered office: 1 Brewster Square, Brucefield Industrial Estate, Livingston, Scotland, EH54 9BJ

Nature of business: Storage of scientific samples

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

188,446

248,413

Profit/(loss) for the year

40,033

(62,128

)

The above investment was acquired on 11th January 2023.

Labserve Limited

Registered office: Orchard House, The Square, Hessle, HU13 0AE

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2025

£

Aggregate capital and reserves

1,000

Hilton Instruments Limited

Registered office: Howe Moss Avenue, Kirkhill Industrial Estate, Dyce, Aberdeen AB21 0GP

Nature of business: Distributor of laboratory equipment

%

Class of shares:

holding

Ordinary

100.00

2025

£

Aggregate capital and reserves

4,675,648

Loss for the year

(30,563

)

The above investment was acquired by the group on 31st October 2025.

Culsalmond Property & Investment Company Limited

Registered office: Howe Moss Avenue, Dyce, Aberdeen, Scotland, AB21 0GP

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

2025

£

Aggregate capital and reserves

96,213

Loss for the year

(82

)

The above investment was acquired by the group on 31st October 2025.

All subsidiaries are consolidated in these financial statements, unless otherwise stated.

The shareholding in SLS Group Limited is held directly by the company. The other companies shown above are 100% subsidiaries of SLS Group Limited and therefore indirectly held by the company.

13.

STOCKS

Group

2025

2024

£

Stocks

1,629,373

1,262,813

Finished goods

6,534,401

6,805,595

8,163,774

8,068,408

14.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2025

2024

2025

2024

£

Trade debtors

16,393,184

15,496,088

-

Amounts owed by group undertakings

-

240,000

Other debtors

67,185

10,874

-

Taxation

102,127

51,564

-

VAT

166,624

73,584

-

Prepayments and accrued income

715,340

842,134

-

17,444,460

16,474,244

240,000

15.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2025

2024

2025

2024

£

Bank loans and overdrafts (see note 17)

5,297

-

Hire purchase contracts (see note 18)

213,951

181,836

-

Trade creditors

15,658,904

14,962,652

-

Amounts owed to group undertakings

991,025

1,216,286

2,339,121

2,239,121

Taxation

158,968

142,593

-

Social security and other taxes

997,663

878,121

-

Other creditors

608,133

478,712

-

Accruals and deferred income

2,832,516

3,122,552

72,813

80,950

21,466,457

20,988,049

2,411,934

2,320,071

16.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group

Company

2025

2024

2025

2024

£

Bank loans (see note 17)

17,659

23,482

-

Hire purchase contracts (see note 18)

291,451

321,425

-

Amounts owed to group undertakings

4,782,598

5,369,776

903,490

Other creditors

207,500

-

5,299,208

5,714,683

903,490

17.

LOANS

An analysis of the maturity of loans is given below:

Group

2025

2024

£

Amounts falling due within one year or on

demand:

Bank loans

5,297

Amounts falling due between one and two

years:

Bank loans - 1-2 years

17,659

23,482

18.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group

Hire purchase

contracts

2025

2024

£

Net obligations repayable:

Within one year

213,951

181,836

Between one and five years

291,451

321,425

505,402

503,261

Group

Non-cancellable

operating leases

2025

2024

£

Within one year

812,193

834,194

Between one and five years

2,320,241

2,373,763

In more than five years

1,446,369

1,771,824

4,578,803

4,979,781

19.	SECURED DEBTS

The following secured debts are included within creditors:

Group

2025

2024

£

Bank loans

22,956

28,779

The bank loan is secured by way of fixed and floating charge over the assets of the individual group company that has the borrowing.

20.	PROVISIONS FOR LIABILITIES

Group

2025

2024

£

Deferred taxation

1,049,876

1,077,132

Group

Deferred

tax

£

Balance at 1st January 2025

1,077,132

Credit to Statement of Comprehensive Income during year

(34,932

)

Taxation on new acquisitions

7,676

Balance at 31st December 2025

1,049,876

21.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

150,000

Ordinary A

£1

150,000

37,500

Ordinary B

£1

37,500

14,806,500

Preference

0.01p

1,481

188,981

The Ordinary A and Ordinary B shares rank equally however they do constitute separate classes of shares.

Prior to an Exit, any dividend or distribution payable to the holders of the Ordinary Shares shall be applied as follows, 95% applies to Ordinary A and 5% to Ordinary B.

Preference Shares

The Preference Shareholders are entitled to be paid in respect of each financial year of the Company out of profits available for distribution from time to time resolved to be distributed a fixed cumulative preferential dividend at the annual rate of 5% on each Preference Share.

Preference shares confer the right to receive notice of but not attend or vote at a general meeting.

22.

RESERVES

Group

Retained

Share

earnings

premium

Totals

£

At 1st January 2025

15,630,668

14,805,019

30,435,687

Profit for the year

1,549,438

At 31st December 2025

17,180,106

14,805,019

31,985,125

Company

Retained

Share

earnings

premium

Totals

£

At 1st January 2025

2,603,620

14,805,019

17,408,639

Deficit for the year

(72,963

)

(72,963

)

At 31st December 2025

2,530,657

14,805,019

17,335,676

23.	NON-CONTROLLING INTERESTS

Non-controlling interests relate to a 35% holding in Aurora Scientific Limited. Scientific Laboratory Supplies Group Ltd holds an indirect interest of 65% in this company.

24.	POST BALANCE SHEET EVENTS

In February 2026 it was announced that the entire shareholding of the company and its subsidiary companies, will be sold by LBO France to Vivo Capital. The completion date is to be confirmed.

25.	ULTIMATE PARENT AND CONTROLLING PARTY

The ultimate controlling party is LBO France, a company registered in France (RCS Strasbourg Reg. No. 418354502). The immediate parent company is Dominique Dutscher, a company registered in France (RCS Strasbourg Reg. No. 325204725).

The parent of the largest group for which consolidated financial statements are drawn up is Dutscher Holding. Copies of the consolidated accounts can be obtained from 2C, Rue De Bruxelles, 67170, Bernolsheim, France.

Dutscher Holding SAS (incorporated in France) is regarded by the directors as being the company's ultimate parent company (RCS Strasbourg Reg. No. 882634660).