REGISTERED NUMBER: 00502816 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

ATO HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

6

Report of the Independent Auditors

8

Consolidated Income Statement

11

Consolidated Other Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

20

DIRECTORS:

Mr J M Humphreys

Ms A C Barnes

Mr P J Gladding

REGISTERED OFFICE:

Wandon End Works

Wandon End

Luton

Bedfordshire

LU2 8NY

REGISTERED NUMBER:

00502816 (England and Wales)

AUDITORS:

FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

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

REVIEW OF BUSINESS

The principal activities of the group in the year under review were sales of and service and parts for agricultural machinery, professional ground care machinery, commercial vehicles and hire of vehicles to the event industry. The company undertakes the provision of management services and administration of its freehold and leasehold properties, and agricultural farmland.

Agricultural machinery sales, service and parts supply are carried out from eight depots in Luton, Colchester, Kings Langley, Petworth, Reading, Stratford, Tingewick, and Winchester. Ground care machinery sales, service and parts, commercial vehicle sales and event hire are carried out at the Kings Langley depot using its strategic position just north of London to maximise on alternative markets outside of the core agricultural business. Commercial vehicle sales, service and parts are also carried out at the Tingewick depot.

The Oliver name has been synonymous with the supply of services to the agricultural sector for two centuries with Olivers celebrating it's 200-year anniversary in 2023. Today's business still uses this heritage, alongside a strong management team, successful sales professionals, and highly trained service engineers to offer the best customer experience. Up to date website, information technology systems and communications allow the company to react to all customer requirements. The event hire business, trading as Oliver Buggy Hire, is recognised as one of the most professional operators in the market, serving sporting, country and music events nationally.

All key suppliers to the group are market leaders in their sectors which allows the subsidiaries to offer the best quality and most desirable products at the most competitive price. Many suppliers have a long history with the group and therefore all staff are very experienced in their products. The suppliers include global brands Claas, JCB, Toro, Horsch, Club Car and Isuzu.

Overall, trading conditions for Oliver Agriculture Limited were tougher than in the previous year. The marketplace for agricultural machinery continues to be very competitive. A wet autumn delaying drilling was compounded with budget announcements of inheritance tax changes to farmers which brought inertia in agricultural machinery sales especially on combines in the first part of the financial year. A hot summer resulted in a short harvest reducing aftersales income. In addition, increases in minimum wage and national insurance along with ongoing high interest rates impacting our borrowing all added additional cost to the bottom line. Despite this we did achieve a significant turnover although it was reduced from the prior year, which along with the higher costs resulted in a loss before taxation of £315,327. This compares to a pre-tax profit last year of £529,628. It should be noted that we have worked hard to reduce our stock on the previous year by £2.912m.

In comparison, for Oliver Landpower Ltd, sales after discounts remained broadly consistent in the 2024/25 financial year to those of the prior year. The wider range of products and services offered by Oliver Landpower Ltd meant it was able to better navigate the early lack of confidence in the agricultural machinery marketplace through sales to its wider customer base. In addition, lead times for most products have improved significantly, supporting strong operational performance across all divisions with service and parts consistently busy throughout the year and less reliant on seasonality work. Oliver Landpower Ltd was also impacted by the increases in minimum wage and national insurance as well as ongoing high interest rates keeping borrowing costs high. These conditions resulted in a net profit before taxation of £291,617 which was comparable to the previous year of £319,829.

ATO Holdings Limited saw profitable results in the three areas of the business - property rental, farming and management and administration, however without a dividend from Oliver Agriculture Ltd due to their loss position and with the loss of income from Tankards Farm the overall profit levels have greatly reduced. Whilst we can maintain a profitable position from our existing revenue streams ATO Holdings Ltd will need to consider alternative revenue streams for the future to help bolster and secure income away from agriculture.

The overall group results disclose a profit for the year before taxation of £67,668 which is in comparison with a profit of £1,392,600 in the previous year. Whilst disappointing to see a large reduction in profit, following a year of many challenges, it was good to still maintain a profitable position albeit small. Further information on the group performance for the year and the financial position at the year end date can be found in the financial statements and supporting notes.

PRINCIPAL RISKS AND UNCERTAINTIES

Management continually monitors the key risks facing the group together with assessing the controls used for managing these risks. The board of directors reviews and documents the principal risks facing the business at least annually.

The directors identify the principal risks and uncertainties facing the group as :-

Competitor pressure and level of demand

-

The group operates in a competitive market where pressure from competitors could impact sales. This risk is mitigated through the supply of high-quality products from leading market brands and by maintaining strong long term customer relationships often spanning multiple generations.

Reliance on key suppliers

-

The group's activities could expose it to over reliance on certain suppliers. The directors manage this risk by ensuring the sale of market leading brands which include a range of suppliers who provide complimentary products to one another. The directors are constantly seeking to find potential alternative suppliers to add products to our portfolio.

Loss of key personnel

-

This would pose potential operational challenges for the group. The directors manage this risk by seeking to ensure that key personnel are managed to ensure good performance is recognised and fully rewarded, along with ensuring good succession planning supported by appropriate training. This offers career progression for staff which assists to retain employees with potential to become management of the future.

Bad weather affecting customer confidence

-

The weather can affect the ability of the group to sell agricultural machinery. The directors manage this risk by ensuring that seasonal stock levels are managed appropriately and by having an increased focus on growing the aftersales aspect of the business.

Interest rates

-

Increased funding costs affect both the Group and its customers. The directors manage this risk by controlling stock levels, adapting to a higher cost base and working closely with suppliers and preferred finance partners to provide affordable purchasing solutions.

Global unrest

-

Disruption of supply chains due to potential closure of shipping routes, continued conflict in the Ukraine and Middle East and the effect of increased energy costs on our operating costs and to the products we sell. Risks from unfavourable trade agreements.

SECTION 172(1) STATEMENT

The board of directors have always acted in the way they consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole, having regard to the stakeholders and matters set out in s172(1) (a) - (f) of the Companies Act 2006, in the decisions taken during the year ended 30 September 2025.

Our plan is designed to have a long-term beneficial impact on the group and to contribute to its success in delivering a high quality of service.

Our employees are fundamental to the delivery of our plan. We aim to be a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and well-being of our team members is one of our primary considerations in the way we conduct our business.

Engagement with suppliers and customers is also key to our success. We meet with our key franchises partners regularly through the year to maintain strong and positive relationships with them.

Our plan considers the impact of the group's operations on the community and environment, and in particular we work hard to pursue waste-saving opportunities and ensure we deal with waste in the most appropriate manner.

The group prides itself on maintaining its strong reputation throughout the industries that it operates within. The directors support the management teams of each business to promote our products and services and to exceed customers' expectations.

As the board of directors, our intention is to behave in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours and in doing so, will construct to the delivery of our plan.

FUTURE OUTLOOK

In Oliver Agriculture Ltd, the outlook continues to be buoyant with a strong start to the 2025/26 business year. Despite the recent wet weather, our customers have remained confident with better levels of autumn drilled crops than the national average resulting in a successful early out of season order campaign. Despite a national downturn in farm profitability, especially in the cereal sector, the livestock sector has been less affected and despite a reduction in the tractor market we are seeing an increase in sales. Our budget is forecasting at least a similar outcome to the 2023-2024 trading year. We must be cognisant to the market volatility and maintain strong stock & credit control, whilst being mindful of the rise in interest and stocking charges and their impact on gross margins. We continue to actively work at reducing new and used stock levels in line with the current market.

In Oliver Landpower Limited, we have had a strong start to the financial year with a strong order book for the rest of the year, however the business is aware that the costs to run the business have increased dramatically and some industry sectors have been impacted by lower commodity prices. The company supplies market leading products which are in in demand in all sectors which gives more sales opportunities. Continued focus on stock management, cost control and competitive financing solutions will be essential to maintaining profitability and supporting customers in a challenging economic environment.

ATO Holdings Limited looks to continue to maintain its existing revenue streams in property rental, farming and management and administration whilst looking at an alternative income stream to replace that reduced on the farming front. Dividend payments from Oliver Agriculture Limited will recommence once it returns to profitable results and Oliver Landpower Limited will continue to have the opportunity to consolidate following on from its expansion in 2023/24, but with plans for ATO Holdings Ltd to take a dividend in the future.

Long term the group's strategy is to continue to grow all aspects of the business whilst controlling costs, increasing margin, continuing to implement efficiencies, and to maintain a tight control on debtors. The group will ensure that it will employ sufficient numbers of staff to achieve this. To this end we continue to engage with our apprenticeship programme and invest in specialist manufacturer training for existing staff.

ON BEHALF OF THE BOARD:

Ms A C Barnes - Director

26 May 2026

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

DIVIDENDS

Particulars of dividends paid by ATO Holdings Limited during the year and any proposed are detailed in note 11 to the accounts.

In order to comply with current accounting disclosure requirements the dividends paid on the preferred ordinary shares of £89,670 are included in interest payable and similar expenses in the consolidated income statement.

DIRECTORS

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

Mr J M Humphreys

Ms A C Barnes

Other changes in directors holding office are as follows:

Mr A J S Oliver - resigned 4 December 2024

Mr P J Gladding was appointed as a director after 30 September 2025 but prior to the date of this report.

FINANCIAL INSTRUMENTS

Treasury operations and financial instruments

The group operates a centralised treasury function which is responsible for managing the liquidity and interest risks associated with the group's activities.

The group's principal financial instruments include bank overdrafts and hire purchase loans, the main purpose of which are to provide working capital for the group's operations. In addition, the group has various other financial assets and liabilities such as trade receivable and trade payables arising directly from its operations, together with cash deposits held in the parent company.

Liquidity Risk

The group manages its cash and borrowing requirements centrally to maximise interest income and minimise interest expense, whilst ensuring that the group has sufficient liquid resources to meet the operating needs of its business.

Interest Rate Risk

Through the close management of cash resources and bank overdrafts, the group is able to maintain positive net cash funds and therefore not be exposed to external bank interest rates. Hire purchase and stocking finance agreements are monitored to achieve efficient financing costs.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The group aims to have positive and strong business relationships with key stakeholders, such as customers and suppliers, to ensure long term sustainable value. Within the group, the director and management teams of each business deal directly with the engagement of the customers and suppliers in relation to that business. These key personnel know their businesses the best and therefore are best placed to foster strong relationships with these key stakeholders. The directors of ATO Holdings Limited support the group by having positive and strong business relationships with the group’s key-stakeholders and support the individual businesses where required.

STREAMLINED ENERGY AND CARBON REPORTING

The group has excluded any subsidiaries which are not obliged to report individually according to the thresholds from the energy usage calculation. The resulting energy usage deems the parent company to be a low energy user and therefore no disclosure is required.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

Ms A C Barnes - Director

26 May 2026

Opinion

We have audited the financial statements of ATO Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

- Enquiry of management and those charged with governance around actual and potential litigation and claims.

- Enquiry of entity staff and the board of directors to identify any instances of non-compliance with laws and regulations; and

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of income.

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

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

- Performed analytical procedures to identify any unusual or unexpected relationships.

- Tested journal entries to identify unusual transactions.

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

- Investigated the rationale behind significant or unusual transactions.

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.

Stephen Mason BSc FCA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

1 June 2026

TURNOVER

4

82,064,297

86,617,328

Cost of sales

76,888,745

80,297,865

GROSS PROFIT

5,175,552

6,319,463

Distribution costs

1,786,040

1,908,386

Administrative expenses

3,160,570

2,994,365

4,946,610

4,902,751

228,942

1,416,712

Other operating income

-

125,000

OPERATING PROFIT

6

228,942

1,541,712

Interest receivable and similar income

25,257

25,145

Other finance income

25

2,000

4,000

27,257

29,145

256,199

1,570,857

Interest payable and similar expenses

8

188,531

178,257

PROFIT BEFORE TAXATION

67,668

1,392,600

Tax on profit

9

55,927

363,358

PROFIT FOR THE FINANCIAL YEAR

11,741

1,029,242

Profit attributable to:

Owners of the parent

(11,606

)

1,006,085

Non-controlling interests

23,347

23,157

11,741

1,029,242

PROFIT FOR THE YEAR

11,741

1,029,242

OTHER COMPREHENSIVE INCOME

Actuarial gain/(loss) on pension scheme

16,000

5,750

Income tax relating to other comprehensive income

2,250

(2,000

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

18,250

3,750

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

29,991

1,032,992

Total comprehensive income attributable to:

Owners of the parent

6,644

1,009,835

Non-controlling interests

23,347

23,157

29,991

1,032,992

FIXED ASSETS

Intangible assets

12

-

13,993

Tangible assets

13

3,473,471

3,809,934

Investments

14

-

-

3,473,471

3,823,927

CURRENT ASSETS

Stocks

15

14,386,731

17,297,108

Debtors

16

5,710,965

6,617,289

Cash at bank and in hand

2,813,726

1,655,089

22,911,422

25,569,486

CREDITORS

Amounts falling due within one year

17

12,978,630

15,886,970

NET CURRENT ASSETS

9,932,792

9,682,516

TOTAL ASSETS LESS CURRENT LIABILITIES

13,406,263

13,506,443

CREDITORS

Amounts falling due after more than one year

18

(1,126,799

)

(1,074,587

)

PROVISIONS FOR LIABILITIES

22

(528,867

)

(606,750

)

PENSION ASSET

25

39,750

46,500

NET ASSETS

11,790,347

11,871,606

CAPITAL AND RESERVES

Called up share capital

23

75,000

175,000

Capital redemption reserve

24

364,700

364,700

Other reserves

24

2,670

2,670

Retained earnings

24

11,076,713

11,081,319

SHAREHOLDERS' FUNDS

11,519,083

11,623,689

NON-CONTROLLING INTERESTS

271,264

247,917

TOTAL EQUITY

11,790,347

11,871,606

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2026 and were signed on its behalf by:

Ms A C Barnes - Director

FIXED ASSETS

Intangible assets

12

-

-

Tangible assets

13

1,317,891

1,331,545

Investments

14

1,415,775

1,415,775

2,733,666

2,747,320

CURRENT ASSETS

Debtors

16

778,309

2,437,784

Cash at bank

2,800,373

1,644,034

3,578,682

4,081,818

CREDITORS

Amounts falling due within one year

17

772,578

1,683,320

NET CURRENT ASSETS

2,806,104

2,398,498

TOTAL ASSETS LESS CURRENT LIABILITIES

5,539,770

5,145,818

CREDITORS

Amounts falling due after more than one year

18

(881,463

)

(423,130

)

PENSION ASSET

25

39,750

46,500

NET ASSETS

4,698,057

4,769,188

CAPITAL AND RESERVES

Called up share capital

23

75,000

175,000

Capital redemption reserve

24

364,700

364,700

Other reserves

24

2,670

2,670

Retained earnings

24

4,255,687

4,226,818

SHAREHOLDERS' FUNDS

4,698,057

4,769,188

Company's profit for the financial year

21,869

488,015

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2026 and were signed on its behalf by:

Ms A C Barnes - Director

Called up

Capital

share

Retained

redemption

capital

earnings

reserve

£

£

£

Balance at 1 October 2023

175,000

10,097,734

364,700

Changes in equity

Profit for the year

-

1,006,085

-

Other comprehensive income

-

3,750

-

Total comprehensive income

-

1,009,835

-

Dividends

-

(26,250

)

-

Balance at 30 September 2024

175,000

11,081,319

364,700

Changes in equity

Profit for the year

-

(11,606

)

-

Other comprehensive income

-

18,250

-

Total comprehensive income

-

6,644

-

Dividends

-

(11,250

)

-

Reclassification of share capital

(100,000

)

-

-

Balance at 30 September 2025

75,000

11,076,713

364,700

Other

Non-controlling

Total

reserves

Total

interests

equity

£

£

£

£

Balance at 1 October 2023

2,670

10,640,104

224,760

10,864,864

Changes in equity

Profit for the year

-

1,006,085

23,157

1,029,242

Other comprehensive income

-

3,750

-

3,750

Total comprehensive income

-

1,009,835

23,157

1,032,992

Dividends

-

(26,250

)

-

(26,250

)

Balance at 30 September 2024

2,670

11,623,689

247,917

11,871,606

Changes in equity

Profit for the year

-

(11,606

)

23,347

11,741

Other comprehensive income

-

18,250

-

18,250

Total comprehensive income

-

6,644

23,347

29,991

Dividends

-

(11,250

)

-

(11,250

)

Reclassification of share capital

-

(100,000

)

-

(100,000

)

Balance at 30 September 2025

2,670

11,519,083

271,264

11,790,347

Called up

Capital

share

Retained

redemption

Other

Total

capital

earnings

reserve

reserves

equity

£

£

£

£

£

Balance at 1 October 2023

175,000

3,761,303

364,700

2,670

4,303,673

Changes in equity

Profit for the year

-

488,015

-

-

488,015

Other comprehensive income

-

3,750

-

-

3,750

Total comprehensive income

-

491,765

-

-

491,765

Dividends

-

(26,250

)

-

-

(26,250

)

Balance at 30 September 2024

175,000

4,226,818

364,700

2,670

4,769,188

Changes in equity

Profit for the year

-

21,869

-

-

21,869

Other comprehensive income

-

18,250

-

-

18,250

Total comprehensive income

-

40,119

-

-

40,119

Dividends

-

(11,250

)

-

-

(11,250

)

Reclassification of share capital

(100,000

)

-

-

-

(100,000

)

Balance at 30 September 2025

75,000

4,255,687

364,700

2,670

4,698,057

Cash flows from operating activities

Cash generated from operations

1

2,258,813

2,664,134

Interest paid

(29,815

)

(35,182

)

Interest element of hire purchase payments paid

(69,046

)

(68,405

)

Tax paid

(277,272

)

(576,138

)

Net cash from operating activities

1,882,680

1,984,409

Cash flows from investing activities

Purchase of tangible fixed assets

(323,326

)

(294,119

)

Sale of tangible fixed assets

243,699

134,145

Interest received

25,257

25,145

Net cash from investing activities

(54,370

)

(134,829

)

Cash flows from financing activities

New loans in year

400,000

-

Loan repayments in year

(440,511

)

(24,340

)

Capital repayments in year

(861,997

)

(889,729

)

Equity dividends paid

(11,250

)

(26,250

)

Dividends paid on non-equity shares

(89,670

)

(74,670

)

Net cash from financing activities

(1,003,428

)

(1,014,989

)

Increase in cash and cash equivalents

824,882

834,591

Cash and cash equivalents at beginning of year

2

1,392,893

558,302

Cash and cash equivalents at end of year

2

2,217,775

1,392,893