IRIS Accounts Production v26.1.10.61 01327043 Board of Directors 1.10.24 30.9.25 30.9.25 Medium entities true false true true false false false true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 01327043 2024-09-30 01327043 2025-09-30 01327043 2024-10-01 2025-09-30 01327043 2023-09-30 01327043 2023-10-01 2024-09-30 01327043 2024-09-30 01327043 ns15:EnglandWales 2024-10-01 2025-09-30 01327043 ns14:PoundSterling 2024-10-01 2025-09-30 01327043 ns10:Director1 2024-10-01 2025-09-30 01327043 ns10:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 01327043 ns10:MediumEntities 2024-10-01 2025-09-30 01327043 ns10:Audited 2024-10-01 2025-09-30 01327043 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-10-01 2025-09-30 01327043 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-10-01 2025-09-30 01327043 ns10:FullAccounts 2024-10-01 2025-09-30 01327043 1 2024-10-01 2025-09-30 01327043 ns10:OrdinaryShareClass1 2024-10-01 2025-09-30 01327043 ns10:Director2 2024-10-01 2025-09-30 01327043 ns10:Director3 2024-10-01 2025-09-30 01327043 ns10:Director4 2024-10-01 2025-09-30 01327043 ns10:Director5 2024-10-01 2025-09-30 01327043 ns10:Director7 2024-10-01 2025-09-30 01327043 ns10:Director8 2024-10-01 2025-09-30 01327043 ns10:CompanySecretary1 2024-10-01 2025-09-30 01327043 ns10:RegisteredOffice 2024-10-01 2025-09-30 01327043 ns10:Director6 2024-10-01 2025-09-30 01327043 ns5:RetainedEarningsAccumulatedLosses 2024-09-30 01327043 ns5:RetainedEarningsAccumulatedLosses 2023-09-30 01327043 ns5:RetainedEarningsAccumulatedLosses 2025-09-30 01327043 ns5:RetainedEarningsAccumulatedLosses 2024-09-30 01327043 ns5:CurrentFinancialInstruments 2025-09-30 01327043 ns5:CurrentFinancialInstruments 2024-09-30 01327043 ns5:Non-currentFinancialInstruments 2025-09-30 01327043 ns5:Non-currentFinancialInstruments 2024-09-30 01327043 ns5:ShareCapital 2025-09-30 01327043 ns5:ShareCapital 2024-09-30 01327043 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-10-01 2025-09-30 01327043 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-10-01 2025-09-30 01327043 ns5:LeaseholdImprovements 2024-10-01 2025-09-30 01327043 ns5:PlantMachinery 2024-10-01 2025-09-30 01327043 ns5:MotorVehicles 2024-10-01 2025-09-30 01327043 ns5:ComputerEquipment 2024-10-01 2025-09-30 01327043 ns5:ReportableOperatingSegment1 2024-10-01 2025-09-30 01327043 ns5:ReportableOperatingSegment1 2023-10-01 2024-09-30 01327043 ns5:ReportableOperatingSegment2 2024-10-01 2025-09-30 01327043 ns5:ReportableOperatingSegment2 2023-10-01 2024-09-30 01327043 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2024-10-01 2025-09-30 01327043 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2023-10-01 2024-09-30 01327043 ns15:UnitedKingdom 2024-10-01 2025-09-30 01327043 ns15:UnitedKingdom 2023-10-01 2024-09-30 01327043 ns15:Europe 2024-10-01 2025-09-30 01327043 ns15:Europe 2023-10-01 2024-09-30 01327043 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-10-01 2025-09-30 01327043 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2023-10-01 2024-09-30 01327043 ns10:HighestPaidDirector 2024-10-01 2025-09-30 01327043 ns10:HighestPaidDirector 2023-10-01 2024-09-30 01327043 ns5:OwnedAssets 2024-10-01 2025-09-30 01327043 ns5:OwnedAssets 2023-10-01 2024-09-30 01327043 ns5:LeasedAssets 2024-10-01 2025-09-30 01327043 ns5:LeasedAssets 2023-10-01 2024-09-30 01327043 ns5:PatentsTrademarksLicencesConcessionsSimilar 2023-10-01 2024-09-30 01327043 11 2024-10-01 2025-09-30 01327043 11 2023-10-01 2024-09-30 01327043 12 2024-10-01 2025-09-30 01327043 12 2023-10-01 2024-09-30 01327043 14 2024-10-01 2025-09-30 01327043 14 2023-10-01 2024-09-30 01327043 ns5:HirePurchaseContracts 2024-10-01 2025-09-30 01327043 ns5:HirePurchaseContracts 2023-10-01 2024-09-30 01327043 ns5:FinanceLeases 2024-10-01 2025-09-30 01327043 ns5:FinanceLeases 2023-10-01 2024-09-30 01327043 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 01327043 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-09-30 01327043 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 01327043 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-09-30 01327043 ns5:LeaseholdImprovements 2024-09-30 01327043 ns5:PlantMachinery 2024-09-30 01327043 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-09-30 01327043 ns5:LeaseholdImprovements 2025-09-30 01327043 ns5:PlantMachinery 2025-09-30 01327043 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-09-30 01327043 ns5:LeaseholdImprovements 2024-09-30 01327043 ns5:PlantMachinery 2024-09-30 01327043 ns5:MotorVehicles 2024-09-30 01327043 ns5:ComputerEquipment 2024-09-30 01327043 ns5:MotorVehicles 2025-09-30 01327043 ns5:ComputerEquipment 2025-09-30 01327043 ns5:MotorVehicles 2024-09-30 01327043 ns5:ComputerEquipment 2024-09-30 01327043 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-09-30 01327043 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-09-30 01327043 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-09-30 01327043 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2024-09-30 01327043 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:FinanceLeases 2025-09-30 01327043 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:FinanceLeases 2024-09-30 01327043 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2025-09-30 01327043 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2024-09-30 01327043 ns5:FinanceLeases ns5:BetweenOneFiveYears 2025-09-30 01327043 ns5:FinanceLeases ns5:BetweenOneFiveYears 2024-09-30 01327043 ns5:HirePurchaseContracts 2025-09-30 01327043 ns5:HirePurchaseContracts 2024-09-30 01327043 ns5:FinanceLeases 2025-09-30 01327043 ns5:FinanceLeases 2024-09-30 01327043 ns5:WithinOneYear 2025-09-30 01327043 ns5:WithinOneYear 2024-09-30 01327043 ns5:BetweenOneFiveYears 2025-09-30 01327043 ns5:BetweenOneFiveYears 2024-09-30 01327043 ns5:AllPeriods 2025-09-30 01327043 ns5:AllPeriods 2024-09-30 01327043 ns5:DeferredTaxation 2024-09-30 01327043 ns5:DeferredTaxation 2025-09-30 01327043 ns10:OrdinaryShareClass1 2025-09-30 01327043 ns5:RetainedEarningsAccumulatedLosses 2024-10-01 2025-09-30 01327043 ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-10-01 2025-09-30 01327043 ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-09-30 01327043 ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-09-30 01327043 ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-10-01 2025-09-30 01327043 ns5:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2024-10-01 2025-09-30 01327043 ns5:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2023-10-01 2024-09-30 01327043 ns5:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2025-09-30 01327043 ns5:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2024-09-30 01327043 ns5:OtherRelatedParties 2024-10-01 2025-09-30 01327043 ns5:OtherRelatedParties 2023-10-01 2024-09-30 01327043 ns5:OtherRelatedParties 2025-09-30 01327043 ns5:OtherRelatedParties 2024-09-30

REGISTERED NUMBER: 01327043 (England and Wales)

| T. & B. CONTAINERS LIMITED |

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 SEPTEMBER 2025 |

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 4 |  | to |  | 6

Statement of Income and Retained Earnings | 7 |

Statement of Financial Position | 8 |

Notes to the Financial Statements | 9 |  | to |  | 17

T. & B. CONTAINERS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| DIRECTORS: | Mrs B O Dickinson

| A J Dickinson

| T J H Curtis

| Mrs D J Curtis

| Mrs L A Dickinson

| L Newark

| Mrs S P Van Der Hoeven

| SECRETARY: | Mrs B O Dickinson

| REGISTERED OFFICE: | Brenton Villa

| Wrangle Bank

| Boston

| Lincolnshire

| PE22 9DL

| REGISTERED NUMBER: | 01327043 (England and Wales)

| AUDITORS: | Duncan & Toplis Audit Limited, Statutory Auditor

| 18 Northgate

| Sleaford

| Lincolnshire

| NG34 7BJ

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

STRATEGIC REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and the non-complex nature of our business and is written in the context of risk and uncertainties we face.

REVIEW OF BUSINESS

As a major packaging producer, the company supplies corrugated boxes to a wide customer base in many industries.

We consider that our key performance indicators are those that most adequately communicate the financial performance and strength of the company as a whole, these being turnover and gross margin. Turnover increased by £4,564,002 (18.2%) in the year under review and there has also been an increase in gross profit by 13.72% from £5,282,228 to £6,006,992.

These results are considered acceptable by the directors given the economic climate during the year under review.

Haulage of flat cardboard continues to be more cost effective than the haulage of made-up boxes. This has meant the company continues to provide machinery to customers to enable them to make up the boxes on their own premises, which T&B Containers have continued to push more in the year under review.

T&B Containers have been able to strengthen their position within the UK market, with aid from their investors De Jong, and they will look to further improve this market position in the coming years.

The Company continues to provide a recycling facility for all used cardboard. This assists customers with disposing of unwanted cardboard in an environmentally beneficial manner. This is something the directors of the company feel strongly about.

PRINCIPAL RISKS AND UNCERTAINTIES

The company produces packaging which is necessary whatever the economic circumstances although being able to meet the customer's demands can be a challenge. This challenge is seen especially in years of uncertain harvest in the agricultural industry.

The company will also continue to be affected by wage rate increases due to changes in the minimum wage, price movements on materials and transportation costs. The company's major threat continues to be the general move by their customers away from corrugated boxes to plastic containers, the company have addressed this issue by developing more appropriate cardboard containers for specialist markets. In order to mitigate the effect of any individual customer moving towards a different type of material, the directors are constantly focused on attracting new customers with the company's ever developing products and the expansion into new geographical areas.

Considering the risks, the directors continue to improve standards to customer satisfaction. They continue to maintain the BRCGS accreditation, which is necessary to many customers who supply large supermarkets.

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

ON BEHALF OF THE BOARD:

Mrs D J Curtis - Director

1 May 2026

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors present their report with the financial statements of the company for the year ended 30 September 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture of packaging.

DIVIDENDS

No dividends will be distributed for the year ended 30 September 2025.

DIRECTORS

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

Mrs B O Dickinson

A J Dickinson

T J H Curtis

Mrs D J Curtis

Mrs L A Dickinson

L Newark

Other changes in directors holding office are as follows:

A G J Smit - resigned 25 November 2024

Mrs S P Van Der Hoeven - appointed 20 March 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mrs D J Curtis - Director

1 May 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

T. & B. CONTAINERS LIMITED

Opinion

We have audited the financial statements of T. & B. Containers Limited (the 'company') for the year ended 30 September 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

T. & B. CONTAINERS LIMITED

Responsibilities of directors

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

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

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

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

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations and Employment laws.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection. This inspection included an assessment of the company's employment and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

T. & B. CONTAINERS 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.

Rachel Rudkin FCCA (Senior Statutory Auditor)

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

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

22 May 2026

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 29,635,557 |  | 25,071,555 |  |

Cost of sales | 23,628,565 |  | 19,789,327 |  |

GROSS PROFIT | 6,006,992 |  | 5,282,228 |  |

Administrative expenses | 5,356,540 |  | 4,756,810 |  |

650,452 |  | 525,418 |  |

Other operating income | 63,758 |  | 47,409 |  |

OPERATING PROFIT | 5 | 714,210 |  | 572,827 |  |

Interest receivable and similar income | 13,452 |  | 10,379 |  |

727,662 |  | 583,206 |  |

Interest payable and similar expenses | 6 | 58,650 |  | 48,291 |  |

PROFIT BEFORE TAXATION | 669,012 |  | 534,915 |  |

Tax on profit | 7 | 146,120 |  | 195,498 |  |

PROFIT FOR THE FINANCIAL YEAR | 522,892 |  | 339,417 |  |

Retained earnings at beginning of year | 6,585,923 |  | 6,246,506 |  |

RETAINED EARNINGS AT END OF YEAR | 7,108,815 |  | 6,585,923 |  |

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

STATEMENT OF FINANCIAL POSITION

30 SEPTEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 8 | 4,035 |  | 6,725 |  |

Tangible assets | 9 | 3,874,130 |  | 3,693,453 |  |

3,878,165 |  | 3,700,178 |  |

CURRENT ASSETS

Stocks | 10 | 3,351,318 |  | 2,984,969 |  |

Debtors | 11 | 5,787,425 |  | 5,878,546 |  |

Cash at bank and in hand | 1,967,124 |  | 2,889,015 |  |

11,105,867 |  | 11,752,530 |  |

CREDITORS

Amounts falling due within one year | 12 | 6,511,948 |  | 7,558,078 |  |

NET CURRENT ASSETS | 4,593,919 |  | 4,194,452 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,472,084 |  | 7,894,630 |  |

CREDITORS

Amounts falling due after more than one year | 13 | (572,382 | ) | (579,109 | ) |

PROVISIONS FOR LIABILITIES | 16 | (780,887 | ) | (719,598 | ) |

NET ASSETS | 7,118,815 |  | 6,595,923 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 10,000 |  | 10,000 |  |

Retained earnings | 18 | 7,108,815 |  | 6,585,923 |  |

SHAREHOLDERS' FUNDS | 7,118,815 |  | 6,595,923 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2026 and were signed on its behalf by:

Mrs D J Curtis - Director

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | GENERAL INFORMATION

| T. & B. Containers Limited is a limited company incorporated in England and Wales. The address of the registered office is given in the company information page on page one of these financial statements. The nature of the company's operations and principal activity are detailed in the directors' report on page 3.

| The significant accounting policies applied in the preparation of these financial statement are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Financial Reporting Standard 102 - reduced disclosure exemptions

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

| • | the requirements of Section 7 Statement of Cash Flows;

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

| • | the requirement of paragraph 33.7.

| The company is a subsidiary of T. & B. Containers Holdings Ltd. Consolidated financial statements of T. & B. Containers Holdings Ltd can be obtained from Brenton Villa, Wrangle Bank, Boston, PE22 9DL.

| 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.

| Turnover

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

| Stamp duty land tax

| Stamp duty land tax, being the amount paid in connection with the property leases, is being amortised evenly over period of the lease of 5 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.

| Short leasehold | - | 25% on reducing balance

| Improvements to property | - | 10% on reducing balance

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

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 25% on reducing balance

| Tangible fixed assets are held at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Tangible fixed assets are inspected on a periodic basis for any impairment.

| Stocks

| Stocks are stated at the lower of cost incurred in bringing each product to its present location and condition, and fair value less costs to sell after making due allowance for obsolete and slow-moving items. Cost includes all direct expenditure. Stock is accounted for on a first-in-first-out basis.

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

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

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

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

| Deferred tax

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

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

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the financial reportingstatement of financial position 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.

| Pension costs and other post-retirement benefits

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

| Financial instruments

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

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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

| Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Critical accounting judgements and estimation uncertainty

| In the application of the Companies accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| (i) Useful economic life of property, plant and equipment

| The annual deprecation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimates, based on use by the company and the physical condition of the assets.

| (ii) Supplier rebates

| The provision for supplier rebates is dependent on the amount of purchases that are made from cardboard suppliers. The rebate percentage is based on the predicted purchases of the company based on previous years purchasing patterns.

3. | TURNOVER

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

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Cardboard boxes | 26,741,839 |  | 22,736,881 |  |

| Recycling | 2,893,718 |  | 2,334,674 |  |

29,635,557 |  | 25,071,555 |  |

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

| 2025 |  | 2024

£ | £ |

| United Kingdom | 29,622,314 |  | 25,027,312 |  |

| Europe | 13,243 |  | 44,243 |  |

29,635,557 |  | 25,071,555 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 3,728,062 |  | 3,325,183 |  |

| Social security costs | 455,807 |  | 372,171 |  |

| Other pension costs | 51,067 |  | 47,551 |  |

4,234,936 |  | 3,744,905 |  |

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4. | EMPLOYEES AND DIRECTORS - continued

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

| 2025 |  | 2024

| Office and management | 9 |  | 9 |  |

| Sales and distribution | 68 |  | 65 |  |

77 |  | 74 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 1,167,712 |  | 1,067,869 |  |

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

| Money purchase schemes | 1 |  | 1 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 287,702 |  | 311,883 |  |

5. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 753,937 |  | 671,176 |  |

| Depreciation - assets on hire purchase contracts and finance leases | 231,368 |  | 186,200 |  |

| (Profit)/loss on disposal of fixed assets | (51,640 | ) | 707 |  |

| Stamp duty land tax amortisation | 2,690 |  | 2,690 |  |

| Auditors' remuneration | 24,650 |  | 20,800 |  |

| Operating leases land and buildings | 507,659 |  | 427,172 |  |

| Operating leases motor vehicles | 27,372 |  | 44,158 |  |

| Defined contribution pension | 54,264 |  | 50,325 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Hire purchase interest | 7,219 |  | 4,234 |  |

| Lease interest | 51,431 |  | 44,057 |  |

58,650 |  | 48,291 |  |

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

7. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 84,831 |  | - |  |

| Adjustment re previous years | - |  | (5,208 | ) |

| Total current tax | 84,831 |  | (5,208 | ) |

| Deferred tax | 61,289 |  | 200,706 |  |

| Tax on profit | 146,120 |  | 195,498 |  |

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 669,012 |  | 534,915 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 19%) | 167,253 |  | 101,634 |  |

| Effects of:

| Expenses not deductible for tax purposes | 9,404 |  | (6,684 | ) |

| Capital allowances in excess of depreciation | (41,066 | ) | (100,868 | ) |

| Adjustments to tax charge in respect of previous periods | - |  | (5,208 | ) |

| Summary of timing differences | 61,289 |  | 200,706 |  |

| Corporation tax losses brought forward | (50,760 | ) | (32,587 | ) |

| Corporation tax losses carried forward | - |  | 38,505 |  |

| Total tax charge | 146,120 |  | 195,498 |  |

| Deferred taxation has been calculated at 25% (2024: 25%).

8. | INTANGIBLE FIXED ASSETS

| Stamp

| duty land

| tax

£ |

| COST

| At 1 October 2024

| and 30 September 2025 | 13,450 |  |

| AMORTISATION

| At 1 October 2024 | 6,725 |  |

| Amortisation for year | 2,690 |  |

| At 30 September 2025 | 9,415 |  |

| NET BOOK VALUE

| At 30 September 2025 | 4,035 |  |

| At 30 September 2024 | 6,725 |  |

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

9. | TANGIBLE FIXED ASSETS

| Improvements |

| Short |  | to |  | Plant and

| leasehold |  | property |  | machinery

£ | £ | £ |

| COST

| At 1 October 2024 | 150,284 |  | 232,358 |  | 6,096,074 |  |

| Additions | - |  | 19,156 |  | 810,053 |  |

| Disposals | - |  | - |  | (75,850 | ) |

| At 30 September 2025 | 150,284 |  | 251,514 |  | 6,830,277 |  |

| DEPRECIATION

| At 1 October 2024 | 110,408 |  | 84,156 |  | 4,124,693 |  |

| Charge for year | 9,969 |  | 16,736 |  | 540,874 |  |

| Eliminated on disposal | - |  | - |  | (66,848 | ) |

| At 30 September 2025 | 120,377 |  | 100,892 |  | 4,598,719 |  |

| NET BOOK VALUE

| At 30 September 2025 | 29,907 |  | 150,622 |  | 2,231,558 |  |

| At 30 September 2024 | 39,876 |  | 148,202 |  | 1,971,381 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | 2,622,802 |  | 228,569 |  | 9,330,087 |  |

| Additions | 352,554 |  | 2,606 |  | 1,184,369 |  |

| Disposals | (41,579 | ) | (48,221 | ) | (165,650 | ) |

| At 30 September 2025 | 2,933,777 |  | 182,954 |  | 10,348,806 |  |

| DEPRECIATION

| At 1 October 2024 | 1,130,738 |  | 186,639 |  | 5,636,634 |  |

| Charge for year | 406,948 |  | 10,778 |  | 985,305 |  |

| Eliminated on disposal | (32,194 | ) | (48,221 | ) | (147,263 | ) |

| At 30 September 2025 | 1,505,492 |  | 149,196 |  | 6,474,676 |  |

| NET BOOK VALUE

| At 30 September 2025 | 1,428,285 |  | 33,758 |  | 3,874,130 |  |

| At 30 September 2024 | 1,492,064 |  | 41,930 |  | 3,693,453 |  |

| The net book value of tangible fixed assets includes £ 863,106 (2024 - £ 951,872 ) in respect of assets held under hire purchase contracts and finance leases.

10. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials and consumables | 3,351,318 |  | 2,984,969 |  |

| The difference between purchase price and production cost of stock and their replacement cost is not material.

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 4,849,939 |  | 4,492,884 |  |

| Other debtors | 423,794 |  | 743,578 |  |

| Tax | 15,169 |  | 113,209 |  |

| Prepayments and accrued income | 498,523 |  | 528,875 |  |

5,787,425 |  | 5,878,546 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts and finance leases (see note 14) | 174,592 |  | 223,192 |  |

| Trade creditors | 3,326,532 |  | 4,433,992 |  |

| Amounts owed to group undertakings | 7,985 |  | 12,273 |  |

| Other taxes and social security | 12,180 |  | 74,749 |  |

| VAT | 623,564 |  | 707,060 |  |

| Other creditors | 406,129 |  | 406,129 |  |

| Directors' loan accounts | 66,612 |  | 139,463 |  |

| Accrued expenses | 1,894,354 |  | 1,561,220 |  |

6,511,948 |  | 7,558,078 |  |

13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts and finance leases (see note 14) | 572,382 |  | 579,109 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase contracts |  | Finance leases |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Net obligations repayable:

| Within one year | 44,335 |  | 96,038 |  | 130,257 |  | 127,154 |  |

| Between one and five years | 75,447 |  | 131,519 |  | 496,935 |  | 447,590 |  |

119,782 |  | 227,557 |  | 627,192 |  | 574,744 |  |

| The hire purchase contracts relate to a number of fixed assets. The remaining lease terms range from one to five years. At the end of the lease, title of the assets passes to the company for a nominal fee.

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 412,669 |  | 389,815 |  |

| Between one and five years | 555,008 |  | 898,966 |  |

967,677 |  | 1,288,781 |  |

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts and finance leases | 746,974 |  | 802,301 |  |

| The hire purchase contracts and finance leases are secured on the assets to which they relate.

16. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 780,887 |  | 719,598 |  |

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 719,598 |  |

| Accelerated capital allowances | 61,289 |  |

| Balance at 30 September 2025 | 780,887 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 10,000 | Ordinary | £1 | 10,000 |  | 10,000 |  |

18. | RESERVES

| Retained

| earnings

£ |

| At 1 October 2024 | 6,585,923 |  |

| Profit for the year | 522,892 |  |

| At 30 September 2025 | 7,108,815 |  |

| The retained earnings represents cumulative profit and losses net of dividends and other adjustments.

19. | ULTIMATE PARENT COMPANY

| T. & B. Containers Holdings Ltd is regarded by the directors as being the company's ultimate parent company.

| The principal place of business of T. & B. Containers Holdings Ltd is:

| Brenton Villa

| Wrangle Bank

| Boston

| Lincolnshire

| PE22 9DL

T. & B. CONTAINERS LIMITED (REGISTERED NUMBER: 01327043)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| At the year end date the company owed the directors £66,612 (2024: £139,463). This loan is unsecured and repayable on demand, with interest charged at the official rate.

21. | RELATED PARTY DISCLOSURES

| Entities with control, joint control or significant influence over the entity

2025 | 2024 |

£ | £ |

| Amount due to related party | 7,985 |  | 12,273 |  |

| Key management personnel of the entity or its parent (in the aggregate)

2025 | 2024 |

£ | £ |

| Compensation | 1,180,004 |  | 1,074,129 |  |

| Entities that provide key management personnel services to the entity

2025 | 2024 |

£ | £ |

| Purchases | 49,683 |  | 49,682 |  |

| Amount due to related party | 4,140 |  | 8,280 |  |

| Other related parties

2025 | 2024 |

£ | £ |

| Sales | 4,849 |  | - |  |

| Purchases | 9,307,275 |  | 6,756,214 |  |

| Amount due from related party | 229,482 |  | 540,857 |  |

| Amount due to related party | 1,272,836 |  | 2,289,165 |  |