REGISTERED NUMBER: 12576618 (England and Wales)

FRESH HUB GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Page

Company Information

1

Group Strategic Report

2

to

6

Report of the Directors

7

Report of the Independent Auditors

8

to

11

Consolidated Income Statement

12

Consolidated Other Comprehensive Income

13

Consolidated Statement of Financial Position

14

Company Statement of Financial Position

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Statement of Cash Flows

18

Notes to the Consolidated Statement of Cash Flows

19

Notes to the Consolidated Financial Statements

20

to

31

DIRECTORS:

J Nel

R Landymore

SECRETARY:

O F Booth

REGISTERED OFFICE:

The Bungalow Northgate

Pinchbeck

Spalding

PE11 3SQ

REGISTERED NUMBER:

12576618 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

The directors present their strategic report of the company and the group for the year ended 30 November 2025.

REVIEW OF BUSINESS

Fresh Hub Group Limited ("the Group") serves as the holding company for a group of fresh produce businesses including Parallel UK Limited, APG Produce Limited, Fruit Forever Limited, Parallel Imports Limited, Parallel Fresh BV and Radiare S.L.

The Group's strategy is to integrate complementary fresh produce businesses while allowing them to retain entrepreneurial independence. Through shared infrastructure, grower partnerships and commercial expertise, the Group provides strategic direction and support to deliver sustainable long-term growth.

The principal activities of the Group include the growing, sourcing, importing and supplying of fresh produce to customers across the United Kingdom and Europe, servicing major retailers, fresh prepared manufacturers, foodservice operators and wholesale markets.

During the year the Group delivered significant growth, driven by strong trading across its core businesses together with the strategic acquisition of Fruit Forever Limited in December 2024.

Group turnover increased to £146.2 million (2024: £92.2 million), representing growth of approximately 58.7% year on year.

Profit before taxation increased to £3.09 million (2024: £1.76 million), reflecting both the expansion of the Group and continued focus on maintaining a disciplined and efficient operating model.

STRATEGIC INVESTMENT

During the financial year the shareholders also supported the establishment of Parallel Fresh B.V., based in Rotterdam, which has been created to strengthen the Group's sourcing, logistics and trading capabilities within mainland Europe.

The development of Parallel Fresh B.V. forms part of the Group's longer-term strategy to build a stronger European platform, improving access to growers, enhancing supply chain efficiency and supporting the continued growth of the Group's international trading activities.

The Directors believe that this investment strengthens the Group's ability to service customers across both the UK and European markets, while providing additional flexibility within the Group's sourcing and distribution network.

FINANCIAL KEY PERFORMANCE INDICATORS (KPIS)

The Directors monitor a number of financial indicators to assess the Group's performance and operational efficiency.

Turnover

Turnover increased by 58.7% to £146.2 million (2024: £92.2 million), driven by strong organic growth across the Group together with the acquisition and consolidation of Fruit Forever Limited.

Gross Profit

Gross profit increased to £10.5 million (2024: £5.5 million), reflecting the expanded scale of the Group and improved sourcing capability across international supply chains.

Operating Profit

Operating profit increased to £3.09 million (2024: £1.79 million), demonstrating the Group's ability to scale operations while maintaining a disciplined cost base.

Net Profit Before Tax

Profit before tax increased to £3.09 million (2024: £1.76 million), reflecting the continued growth of the Group's trading activities and the successful integration of Fruit Forever Limited.

Administrative Expenses

Administrative expenses increased during the year primarily due to the acquisition and integration of Fruit Forever Limited, which introduced additional personnel and operational infrastructure to support the Group's expanded scale and growth strategy.

Working Capital and Liquidity

Cash at bank at the year-end was £0.63 million (2024: £3.97 million). The reduction in cash balances during the year primarily reflects the investment made in the acquisition of Fruit Forever Limited together with the settlement of certain higher-cost financing arrangements within the acquired business as part of its integration into the Group.

The Board continues to actively manage the Group's working capital requirements in line with the significant increase in turnover during the year. Cash flow and liquidity are closely monitored, and the Directors remain satisfied that the Group maintains appropriate funding facilities and financial headroom to support ongoing trading and future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

Fresh Hub Group Limited operates in a dynamic international fresh produce market and continues to manage a range of commercial and operational risks.

Supply Chain Risk

The Group mitigates supply chain risk through a diversified sourcing strategy. This includes produce grown by shareholder farms and strategic grower partners across multiple geographies, alongside relationships with carefully selected third-party producers.

This approach provides flexibility and resilience in sourcing while allowing the Group to respond quickly to seasonal market fluctuations.

Foreign Exchange Risk

Due to the international nature of the Group's sourcing activities, transactions are undertaken in a number of currencies including Euros (€) and US Dollars ($).

The Group monitors foreign exchange exposure closely and utilises appropriate hedging strategies where appropriate to reduce volatility and protect trading margins.

Liquidity and Working Capital Management

The fresh produce industry requires significant working capital to support purchasing, logistics and seasonal inventory flows.

The Board closely monitors cash flow and working capital levels, with management reviewing financial performance regularly to ensure appropriate liquidity is maintained to support ongoing growth.

Customer and Market Diversification

The Group supplies a broad customer base across multiple sales channels including retail, fresh prepared manufacturing, foodservice and wholesale markets.

This diversification reduces reliance on any single customer or sector and supports the Group's strategy of aligning grower production with market demand in order to minimise food waste and maximise value across the supply chain.

Climate and Sustainability Risk

Agricultural production is inherently exposed to changing climatic conditions including temperature variation, water availability and extreme weather events. These factors can influence crop yields, product availability and supply chain stability.

The Group mitigates these risks through geographic diversification of sourcing regions and close collaboration with growers and supply partners.

The Group also continues to strengthen its understanding of environmental impacts across its supply chain and is developing initiatives focused on carbon footprint mapping, responsible sourcing and long-term supply chain resilience.

SECTION 172(1) STATEMENT

The Board of Fresh Hub Group Limited has a duty under Section 172 of the Companies Act 2006 to promote the long-term success of the company for the benefit of its members while having regard to the interests of its wider stakeholders.

In fulfilling this responsibility the Board considers the impact of its decisions on employees, customers, suppliers, the community and the environment.

Employees

The Group recognises that its employees are fundamental to its continued success and long-term growth. Investment in people, leadership and organisational culture remains a key priority for the business.

Management accounts and performance updates are shared regularly across the Group to ensure transparency and alignment with the Group's strategic objectives. In addition, annual stakeholder meetings provide opportunities for wider engagement across the business, enabling employees and partners to contribute feedback and remain informed about performance, priorities and future plans.

The Group is committed to fostering a collaborative and supportive working environment that encourages professional development, open communication and high levels of employee engagement. Employees are encouraged to develop their skills and capabilities through ongoing training, mentoring and leadership development opportunities.

The Group also recognises the importance of employee wellbeing and maintaining a positive working culture. Efforts are made to promote a respectful, inclusive and safe working environment where employees feel valued and supported. Management remains committed to listening to employee feedback and continuously improving workplace practices across the organisation.

Customers and Suppliers

The Group maintains close relationships with both customers and supply partners.

Customer engagement is maintained through ongoing dialogue and service improvement initiatives to ensure the Group continues to meet evolving retail and foodservice requirements.

Supplier relationships are built on long-term partnerships with growers, exporters and logistics providers. The Group works closely with supply partners to ensure reliable supply chains while promoting responsible sourcing practices, transparency and continuous improvement across environmental and labour standards.

Community

Fresh Hub Group Limited is committed to supporting the communities in which it operates and supports a range of local charitable initiatives and in particularly has partnered up with The Malcolm Whales Foundation.

Environmental Responsibility and Sustainability

Sustainability remains an important priority across the Group's operations. As an international fresh produce business operating across global supply chains, the Group recognises its responsibility to manage environmental and social impacts while supporting resilient supply networks.

The Group maintains long-term partnerships with growers across multiple regions including Europe, South Africa and South America. These relationships enable collaboration on responsible farming practices, resource efficiency and improved supply chain transparency.

Fresh Hub Group also engages with industry initiatives aimed at strengthening responsible sourcing standards. During the year the Group participated in sustainability and responsible procurement initiatives through industry bodies including FNET, which promotes responsible purchasing practices and human rights due diligence across fresh produce supply chains.

Key initiatives undertaken during the year include:

o

Implementation of a Climate Action Review

o

Ongoing carbon footprint mapping across key areas of the supply chain

o

Development of a long-term decarbonisation strategy

o

Collaboration with customers to reduce plastic packaging and food waste

o

continued development of policies relating to ethical sourcing and human rights due diligence

The Directors recognise that many environmental and social impacts in the fresh produce sector occur within agricultural production and international logistics. The Group therefore continues to work with growers and supply partners to support responsible sourcing and continuous improvement in sustainability performance.

Sustainability oversight is coordinated across the Group to ensure alignment between commercial activities, procurement practices and customer expectations.

FUTURE DEVELOPMENTS

The Board and shareholders have established a long-term strategic objective of achieving annual growth of 15-20% over the next five years.

Growth will be driven through:

o

Expansion of own production capabilities

o

Diversification of the Group's product portfolio

o

Organic growth within the Group's existing customer base

o

Expansion of the Group's European supply footprint

o

Targeted acquisitions to strengthen market presence and supply capability

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENERGY EFFICIENCY

The Group's direct operational energy consumption remains relatively low due to the trading-focused nature of the business and is below the threshold requiring mandatory Streamlined Energy and Carbon Reporting (SECR) disclosures.

However, the Directors recognise that the majority of environmental impacts within the fresh produce sector occur within agricultural production and international logistics. The Group therefore continues to develop its understanding of these impacts through supply chain engagement and carbon footprint mapping initiatives.

ON BEHALF OF THE BOARD:

R Landymore - Director

21 May 2026

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

DIVIDENDS

The total distribution of dividends for the year ended 30 November 2025 will be £1,107,000.

DIRECTORS

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

J Nel

R Landymore

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he 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, Duncan & Toplis Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R Landymore - Director

21 May 2026

Opinion

We have audited the financial statements of Fresh Hub Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 30 November 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 set out on page seven, 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:

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 fixed assets, as well as the risk of inappropriate journal entries to increase 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. 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 have not 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.

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.

Alistair Main FCA (Senior Statutory Auditor)

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

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

22 May 2026

TURNOVER

146,246,358

92,160,915

Cost of sales

135,739,831

86,616,268

GROSS PROFIT

10,506,527

5,544,647

Administrative expenses

7,893,550

3,883,658

2,612,977

1,660,989

Other operating income

480,300

130,283

GROUP OPERATING PROFIT

4

3,093,277

1,791,272

Share of operating profit in

Associates

32,870

11,472

Exceptional items

5

38,675

35,591

3,087,472

1,767,153

Interest receivable and similar income

3,990

297

3,091,462

1,767,450

Interest payable and similar expenses

6

5,618

8,989

PROFIT BEFORE TAXATION

3,085,844

1,758,461

Tax on profit

7

534,680

470,911

PROFIT FOR THE FINANCIAL YEAR

2,551,164

1,287,550

Profit attributable to:

Owners of the parent

2,203,058

1,287,550

Non-controlling interests

348,106

-

2,551,164

1,287,550

PROFIT FOR THE YEAR

2,551,164

1,287,550

OTHER COMPREHENSIVE INCOME

Currency translation difference

(12,873

)

12,509

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(12,873

)

12,509

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,538,291

1,300,059

Total comprehensive income attributable to:

Owners of the parent

2,190,185

1,300,059

Non-controlling interests

348,106

-

2,538,291

1,300,059

FIXED ASSETS

Intangible assets

10

3,033,193

-

Tangible assets

11

255,831

115,254

Investments

12

Interest in associate

57,564

24,694

3,346,588

139,948

CURRENT ASSETS

Stocks

13

584,403

-

Debtors

14

24,186,039

17,848,335

Cash at bank and in hand

628,308

3,974,640

25,398,750

21,822,975

CREDITORS

Amounts falling due within one year

15

21,183,944

15,851,852

NET CURRENT ASSETS

4,214,806

5,971,123

TOTAL ASSETS LESS CURRENT LIABILITIES

7,561,394

6,111,071

PROVISIONS FOR LIABILITIES

18

47,352

28,323

NET ASSETS

7,514,042

6,082,748

CAPITAL AND RESERVES

Called up share capital

19

152,369

152,369

Share premium

20

171,184

171,184

Other reserves

20

5,604

18,477

Retained earnings

20

6,836,776

5,740,718

SHAREHOLDERS' FUNDS

7,165,933

6,082,748

NON-CONTROLLING INTERESTS

21

348,109

-

TOTAL EQUITY

7,514,042

6,082,748

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2026 and were signed on its behalf by:

R Landymore - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

135,490

49,292

Investments

12

199,922

199,038

335,412

248,330

CURRENT ASSETS

Debtors

14

4,855,549

2,481,818

Cash at bank

85,191

307,958

4,940,740

2,789,776

CREDITORS

Amounts falling due within one year

15

3,058,240

973,588

NET CURRENT ASSETS

1,882,500

1,816,188

TOTAL ASSETS LESS CURRENT LIABILITIES

2,217,912

2,064,518

PROVISIONS FOR LIABILITIES

18

33,873

12,323

NET ASSETS

2,184,039

2,052,195

CAPITAL AND RESERVES

Called up share capital

19

152,369

152,369

Retained earnings

20

2,031,670

1,899,826

SHAREHOLDERS' FUNDS

2,184,039

2,052,195

Company's profit for the financial year

1,238,844

1,017,566

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2026 and were signed on its behalf by:

R Landymore - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 December 2023

152,369

5,319,434

171,184

Changes in equity

Dividends

-

(866,266

)

-

Total comprehensive income

-

1,287,550

-

Balance at 30 November 2024

152,369

5,740,718

171,184

Changes in equity

Dividends

-

(1,107,000

)

-

Total comprehensive income

-

2,203,058

-

152,369

6,836,776

171,184

Acquisition of non-controlling interest

-

-

-

Balance at 30 November 2025

152,369

6,836,776

171,184

Other

Non-controlling

Total

reserves

Total

interests

equity

£

£

£

£

Balance at 1 December 2023

5,968

5,648,955

-

5,648,955

Changes in equity

Dividends

-

(866,266

)

-

(866,266

)

Total comprehensive income

12,509

1,300,059

-

1,300,059

Balance at 30 November 2024

18,477

6,082,748

-

6,082,748

Changes in equity

Dividends

-

(1,107,000

)

-

(1,107,000

)

Total comprehensive income

(12,873

)

2,190,185

348,106

2,538,291

5,604

7,165,933

348,106

7,514,039

Acquisition of non-controlling interest

-

-

3

3

Balance at 30 November 2025

5,604

7,165,933

348,109

7,514,042

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 December 2023

152,369

1,748,526

1,900,895

Changes in equity

Profit for the year

-

1,017,566

1,017,566

Total comprehensive income

-

1,017,566

1,017,566

Dividends

-

(866,266

)

(866,266

)

Total transactions with owners, recognised directly in equity

-

(866,266

)

(866,266

)

Balance at 30 November 2024

152,369

1,899,826

2,052,195

Changes in equity

Profit for the year

-

1,238,844

1,238,844

Total comprehensive income

-

1,238,844

1,238,844

Dividends

-

(1,107,000

)

(1,107,000

)

Total transactions with owners, recognised directly in equity

-

(1,107,000

)

(1,107,000

)

Balance at 30 November 2025

152,369

2,031,670

2,184,039

Cash flows from operating activities

Cash generated from operations

1

(157,189

)

2,090,686

Interest paid

(5,618

)

(8,989

)

Tax paid

(521,927

)

(515,883

)

Net cash from operating activities

(684,734

)

1,565,814

Cash flows from investing activities

Purchase of tangible fixed assets

(175,908

)

(57,224

)

Cash paid to acquire subsidiaries

(1,510,000

)

-

Interest received

3,990

297

Net cash from investing activities

(1,681,918

)

(56,927

)

Cash flows from financing activities

Movement in directors' loan accounts

127,320

-

Equity dividends paid

(1,107,000

)

(866,266

)

Net cash from financing activities

(979,680

)

(866,266

)

(Decrease)/increase in cash and cash equivalents

(3,346,332

)

642,621

Cash and cash equivalents at beginning of year

2

3,974,640

3,332,019

Cash and cash equivalents at end of year

2

628,308

3,974,640