REGISTERED NUMBER: 09590728 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

BOROUGH BROTH COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R L Heathcote

R J Gibbs

M Escolme

REGISTERED OFFICE:

Unit 6 Fairway Drive

Greenford

United Kingdom

Middlesex

UB6 8PW

REGISTERED NUMBER:

09590728 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Intangible assets

4

43,856

78,602

Tangible assets

5

678,298

256,838

722,154

335,440

CURRENT ASSETS

Stocks

6

461,568

311,338

Debtors

7

850,600

522,701

Cash at bank

6,347

12,891

1,318,515

846,930

CREDITORS

Amounts falling due within one year

8

(2,573,343

)

(1,374,754

)

NET CURRENT LIABILITIES

(1,254,828

)

(527,824

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(532,674

)

(192,384

)

CREDITORS

Amounts falling due after more than one year

9

(68,624

)

(58,333

)

NET LIABILITIES

(601,298

)

(250,717

)

CAPITAL AND RESERVES

Called up share capital

12

5,920

5,410

Share premium

868,521

309,040

Retained earnings

(1,475,739

)

(565,167

)

SHAREHOLDERS' FUNDS

(601,298

)

(250,717

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2026 and were signed on its behalf by:

R L Heathcote - Director

1.	STATUTORY INFORMATION

Borough Broth Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised at the point of despatch, when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Branding, strategy & development

-

20% on straight line basis

Tangible fixed assets

Tangible fixed assets are stated at cost, or deemed cost, less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Leasehold land and buildings

-

Over 10 years

Plant and equipment

-

25% on reducing balance and 10 years straight line

Fixtures and fittings

-

25% on reducing balance and 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The directors reviewed the depreciation on tangible fixed assets and deemed that that a more appropriate useful life of plant and machinery was 10 years and for fixtures and fittings 3 years. The accounting estimate has been adjusted in the year to 31 May 2025 prospectively, in accordance with FRS 102 Section 1A.

Assets held under finance lease are stated at fair value or the present value of future lease payments, whichever is lower. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Plant and equipment

-

3 or 5 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location on and condition.

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

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

Financial instruments

Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

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 company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has not further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability on the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Impairment policy

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2024 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Branding,

strategy &

development

costs

£

COST

At 1 June 2024

128,677

Additions

60,379

Disposals

(128,677

)

At 31 May 2025

60,379

AMORTISATION

At 1 June 2024

50,075

Amortisation for year

16,523

Elimin on disposal

(50,075

)

At 31 May 2025

16,523

NET BOOK VALUE

At 31 May 2025

43,856

At 31 May 2024

78,602

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 June 2024

142,535

317,543

22,227

-

482,305

Additions

466,688

269,677

3,582

20,111

760,058

Disposals

(21,962

)

(145,805

)

(757

)

(4,379

)

(172,903

)

Reclassification/transfer

64,895

(64,895

)

(20,033

)

20,033

-

At 31 May 2025

652,156

376,520

5,019

35,765

1,069,460

DEPRECIATION

At 1 June 2024

41,702

174,049

9,716

-

225,467

Charge for year

225,017

49,743

960

4,934

280,654

Eliminated on disposal

(15,203

)

(94,649

)

(1,454

)

(3,653

)

(114,959

)

Reclassification/transfer

44,362

(44,362

)

(7,574

)

7,574

-

At 31 May 2025

295,878

84,781

1,648

8,855

391,162

NET BOOK VALUE

At 31 May 2025

356,278

291,739

3,371

26,910

678,298

At 31 May 2024

100,833

143,494

12,511

-

256,838

The directors have reviewed the allocation of assets in so doing reclassified assets to provide a more true and fair view of the assets held by the company,

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

£

COST

Additions

107,907

Disposals

(16,455

)

At 31 May 2025

91,452

DEPRECIATION

Charge for year

34,086

Eliminated on disposal

(16,455

)

At 31 May 2025

17,631

NET BOOK VALUE

At 31 May 2025

73,821

6.

STOCKS

2025

2024

£

£

Stock

461,568

311,338

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

544,916

289,892

Other debtors

305,684

232,809

850,600

522,701

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

1,622,170

310,524

Finance leases (see note 11)

28,106

-

Trade creditors

706,341

314,461

Taxation and social security

74,504

38,067

Other creditors

142,222

711,702

2,573,343

1,374,754

Loans held within creditors are secured by charges dated 5 March 2020 that contain fixed and floating charges that covers all the property or undertaking of the company.

Included in bank loans and overdrafts is an invoice discounting facility. This facility is secured by a fixed and floating charge that covers all the property or undertaking of the company.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

20,357

58,333

Finance leases (see note 11)

48,267

-

68,624

58,333

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

134,958

19,712

Bank loans

1,487,212

290,812

1,622,170

310,524

Amounts falling due between one and two years:

Bank loans - 1-2 years

20,357

58,333

11.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

2025

2024

£

£

Gross obligations repayable:

Within one year

34,939

-

Between one and five years

52,579

-

87,518

-

Finance charges repayable:

Within one year

6,833

-

Between one and five years

4,312

-

11,145

-

Net obligations repayable:

Within one year

28,106

-

Between one and five years

48,267

-

76,373

-

Non-cancellable

operating leases

2025

2024

£

£

Within one year

551,444

208,254

Between one and five years

204,231

233,463

755,675

441,717

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

546,508

Ordinary

£0.01

5,465

5,410

45,537

Preference

£0.01

455

-

5,920

5,410

The following fully paid shares were allotted during the year at a premium as shown below:

5,464 Ordinary shares of £0.01 each at £10.97 per share

45,537 Preference shares of £0.01 each at £10.97 per share

13.	POST BALANCE SHEET EVENTS

Subsequent to the year end, on 25 November 2025, Piper Private Equity Fund VII LP purchased share capital for a total value of £7.5mn, purchasing existing and new shares.

This transaction is considered a non-adjusting post balance sheet event as it does not relate to conditions existing at the balance sheet date.