IRIS Accounts Production v26.1.10.61 04561672 Board of Directors Board of Directors 1.1.25 31.12.25 31.12.25 Medium entities Retail Sale of Sporting Equipment 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 share 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 04561672 2024-12-31 04561672 2025-12-31 04561672 2025-01-01 2025-12-31 04561672 2023-12-31 04561672 2024-01-01 2024-12-31 04561672 2024-12-31 04561672 ns15:EnglandWales 2025-01-01 2025-12-31 04561672 ns14:PoundSterling 2025-01-01 2025-12-31 04561672 ns10:Director1 2025-01-01 2025-12-31 04561672 ns10:Director2 2025-01-01 2025-12-31 04561672 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 04561672 ns10:MediumEntities 2025-01-01 2025-12-31 04561672 ns10:Audited 2025-01-01 2025-12-31 04561672 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 04561672 ns10:Medium-sizedCompaniesRegimeForAccounts 2025-01-01 2025-12-31 04561672 ns10:FullAccounts 2025-01-01 2025-12-31 04561672 1 2025-01-01 2025-12-31 04561672 ns10:OrdinaryShareClass1 2025-01-01 2025-12-31 04561672 ns10:Director3 2025-01-01 2025-12-31 04561672 ns10:CompanySecretary1 2025-01-01 2025-12-31 04561672 ns10:RegisteredOffice 2025-01-01 2025-12-31 04561672 ns5:CurrentFinancialInstruments 2025-12-31 04561672 ns5:CurrentFinancialInstruments 2024-12-31 04561672 ns5:ShareCapital 2025-12-31 04561672 ns5:ShareCapital 2024-12-31 04561672 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 04561672 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 04561672 ns5:ShareCapital 2023-12-31 04561672 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 04561672 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 04561672 ns5:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 04561672 ns5:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 04561672 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-01-01 2025-12-31 04561672 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-01-01 2025-12-31 04561672 ns5:PlantMachinery 2025-01-01 2025-12-31 04561672 ns5:FurnitureFittings 2025-01-01 2025-12-31 04561672 ns5:ReportableOperatingSegment1 2025-01-01 2025-12-31 04561672 ns5:ReportableOperatingSegment1 2024-01-01 2024-12-31 04561672 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2024-01-01 2024-12-31 04561672 ns15:UnitedKingdom 2025-01-01 2025-12-31 04561672 ns15:UnitedKingdom 2024-01-01 2024-12-31 04561672 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2025-01-01 2025-12-31 04561672 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-01-01 2024-12-31 04561672 ns10:HighestPaidDirector 2025-01-01 2025-12-31 04561672 ns10:HighestPaidDirector 2024-01-01 2024-12-31 04561672 ns5:OwnedAssets 2025-01-01 2025-12-31 04561672 ns5:OwnedAssets 2024-01-01 2024-12-31 04561672 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 04561672 2 2025-01-01 2025-12-31 04561672 2 2024-01-01 2024-12-31 04561672 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 04561672 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 04561672 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-12-31 04561672 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 04561672 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-12-31 04561672 ns5:PlantMachinery 2024-12-31 04561672 ns5:FurnitureFittings 2024-12-31 04561672 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-12-31 04561672 ns5:PlantMachinery 2025-12-31 04561672 ns5:FurnitureFittings 2025-12-31 04561672 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-12-31 04561672 ns5:PlantMachinery 2024-12-31 04561672 ns5:FurnitureFittings 2024-12-31 04561672 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 04561672 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 04561672 ns5:WithinOneYear 2025-12-31 04561672 ns5:WithinOneYear 2024-12-31 04561672 ns5:BetweenOneFiveYears 2025-12-31 04561672 ns5:BetweenOneFiveYears 2024-12-31 04561672 ns5:AllPeriods 2025-12-31 04561672 ns5:AllPeriods 2024-12-31 04561672 ns5:DeferredTaxation 2024-12-31 04561672 ns5:DeferredTaxation 2025-01-01 2025-12-31 04561672 ns5:DeferredTaxation 2025-12-31 04561672 ns10:OrdinaryShareClass1 2025-12-31 04561672 ns5:RetainedEarningsAccumulatedLosses 2024-12-31

REGISTERED NUMBER: 04561672 (England and Wales)

| STRATEGIC REPORT,

| REPORT OF THE DIRECTORS AND

| FINANCIAL STATEMENTS

| FOR THE YEAR ENDED 31 DECEMBER 2025

| FOR

| NEWITT & CO LIMITED

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Income Statement | 10 |

Other Comprehensive Income | 11 |

Balance Sheet | 12 |

Statement of Changes in Equity | 13 |

Notes to the Financial Statements | 14 |

NEWITT & CO LIMITED

COMPANY INFORMATION

for the Year Ended 31 December 2025

| DIRECTORS: | N J Newitt

| Mrs L J Newitt

| F S Newitt

| SECRETARY: | N J Newitt

| REGISTERED OFFICE: | Claxton Hall

| Flaxton

| York

| Yorkshire

| YO60 7RE

| REGISTERED NUMBER: | 04561672 (England and Wales)

| AUDITORS: | Sowerby

| Chartered Accountants and Statutory Auditors

| Beckside Court

| Annie Reed Road

| Beverley

| East Yorkshire

| HU17 0LF

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

STRATEGIC REPORT

for the Year Ended 31 December 2025

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The principle activity of the company throughout the year continues to be the sale of sporting goods.

2025 has continued to show positive results for the company, and the directors expect that to continue in 2026.

The company continues to supply own brand stock and branded goods from the large brands such as Nike, Gilbert and Mitre.

The pressure on the global supply chains, whilst challenging, are felt by the sector globally, and with continued investment in partnership with suppliers and logistic partners enables the company to manage stock actively.

The requirement to maintain the company's e-commerce market share means that it continues to invest in marketing its website.

The company's key financial performance indicators during the year were as follows:

| 2025 |  | 2024 |  |

Gross profit |  |  | £6,449,142 |  | £6,598,777 |  |

Gross profit percentage |  |  | 33.91% |  | 33.38% |  |

Sales growth year on year |  |  | -3.8% |  | 9.8% |  |

PRINCIPAL RISKS AND UNCERTAINTIES

The continued mixed messages surrounding the state of the world economy coupled with the geo-political landscape within the world may lead to an economic downturn which in turn may result in a decrease in consumption of sports goods. The significant government investment in the public sector should assist the company in continuing to grow, with its existing strong links within the education and military sector.

The increases in staffing costs continue to have a significant impact on the business moving forward. However the investment in the warehouse and stock-holding system will ensure that the company continues to make operational efficiencies in an effort to offset some of those cost increases.

Inflationary pressures could continue to make procurement a key area for the directors to concentrate on however our strong financial position should allow the company to continue to ensure continuity of supply and cost-effective purchasing power.

In managing the business, the directors have established controls to enable them to respond to and mitigate the impact of such risks in a timely manner to ensure the effect on the business is minimised.

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

STRATEGIC REPORT

for the Year Ended 31 December 2025

DEVELOPMENT AND PERFORMANCE

There are a considerable number of sporting events taking place in 2026, with the expanded 48 team World Cup in the USA and 2027 Olympics. These are the main events the business will concentrate on.

The investment made in the warehouse and stockholding system has created significant opportunities for the business to maintain its strong market position and improve its operational efficiencies. The investment in solar energy on the roof of the warehouse has allowed the business to mitigate some of the risks around energy price hikes, whilst maintaining a social conscience by reducing our carbon footprint.

The company has a strong cashflow and balance sheet position which should enable it to continue to generate growth and profitability for the future even in these uncertain times.

GOING CONCERN

The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period in excess of twelve months from the date of approval of signing these financial statements in making this assessment.

ON BEHALF OF THE BOARD:

N J Newitt - Director

22 April 2026

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

REPORT OF THE DIRECTORS

for the Year Ended 31 December 2025

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

DIVIDENDS

An interim dividend of £1,875,234 per share was paid on 31 December 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £ 1,875,234 .

FUTURE DEVELOPMENTS

The company has continued to invest in key management personnel, capital assets and revisions to the long term strategy. The directors feel this investment and strategic planning has already shown great promise and envisage continued improvements to long-term stability, resilience and profitability.

DIRECTORS

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

N J Newitt

Mrs L J Newitt

F S Newitt

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise trade debtors, trade creditors and bank overdrafts. The main purpose of these instruments is to raise funds to finance the company's operations.

The company's approach to managing risks applicable to the financial instruments is shown below.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

In respect of bank overdrafts, liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating and fixed rates of interest.

The company is a lessee in respect of finance leased assets. The monthly repayments on finance lease agreements are fixed and liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

REPORT OF THE DIRECTORS

for the Year Ended 31 December 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:

N J Newitt - Director

22 April 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NEWITT & CO LIMITED

Opinion

We have audited the financial statements of Newitt & Co Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 31 December 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NEWITT & CO LIMITED

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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NEWITT & CO LIMITED

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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance;

- we also obtained an understanding of the legal and regulatory frameworks that the company operates in and determined that the most significant are those that relate to the reporting framework, FRS 102, the Companies Act 2006 and the relevant tax laws and regulations in the UK. In addition, we concluded that there are certain significant laws and regulations which may have an effect on the determination of the amounts and disclosures in the financial statements, relating in majority to general health and safety and employee matters;

- we reviewed results of our enquiries of management about their own identification and assessment of the risks of irregularities; and assessed how the entity identifies, evaluates and complies with laws and regulations and whether management were aware of any instances of non-compliance. We corroborated our enquiries through our review of board minutes and consideration of the results of our audit procedures across the company;

- we also considered how the entity detects and responds to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- we considered the controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how management monitors those controls;

- the internal controls established to mitigate risks of non-compliance with laws and regulations were also investigated;.

- we also considered the existence of performance targets and their potential influence on management to manage earnings, and

- where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk.

These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error.

We reviewed financial statement disclosures and performed testing to supporting documentation to assess compliance with applicable laws and regulations.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NEWITT & CO LIMITED

We also tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. There was a focus on manual journals and journals indicating large or unusual transactions; enquiries of company management; and challenging the assumptions and judgements made by management by reviewing third party evidence wherever possible.

The results of our procedures did not identify any instances or irregularities, including fraud.

No inherent difficulties were found in the standard processes for detecting irregularities; due to the sector in which it operates and the controls put in place, there was no significant shift in the control environment in the current year.

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.

Richard Skewis FCCA (Senior Statutory Auditor)

for and on behalf of Sowerby

Chartered Accountants and Statutory Auditors

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

22 April 2026

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

INCOME STATEMENT

for the Year Ended 31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 19,015,733 |  | 19,767,137 |  |

Cost of sales | 12,566,591 |  | 13,168,360 |  |

GROSS PROFIT | 6,449,142 |  | 6,598,777 |  |

Distribution costs | 2,064,424 |  | 2,402,733 |  |

Administrative expenses | 3,385,820 |  | 2,673,870 |  |

|  |  | 5,450,244 |  |  |  |  | 5,076,603 |  |

998,898 |  | 1,522,174 |  |

Other operating income | 7,579 |  | 3,164 |  |

OPERATING PROFIT | 5 | 1,006,477 |  | 1,525,338 |  |

Interest receivable and similar income | 80,312 |  | 90,433 |  |

1,086,789 |  | 1,615,771 |  |

Interest payable and similar expenses | 6 | 124 |  | 3,987 |  |

PROFIT BEFORE TAXATION | 1,086,665 |  | 1,611,784 |  |

Tax on profit | 7 | 207,566 |  | 394,130 |  |

PROFIT FOR THE FINANCIAL YEAR | 879,099 |  | 1,217,654 |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

OTHER COMPREHENSIVE INCOME

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 879,099 |  | 1,217,654 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 879,099 |  | 1,217,654 |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

BALANCE SHEET

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 612 |  | 717 |  |

Tangible assets | 10 | 195,409 |  | 1,448,847 |  |

196,021 |  | 1,449,564 |  |

CURRENT ASSETS

Stocks | 11 | 4,985,436 |  | 4,605,373 |  |

Debtors | 12 | 995,321 |  | 632,086 |  |

Cash at bank | 2,190,982 |  | 2,965,083 |  |

8,171,739 |  | 8,202,542 |  |

CREDITORS

Amounts falling due within one year | 13 | 1,878,326 |  | 2,081,937 |  |

NET CURRENT ASSETS | 6,293,413 |  | 6,120,605 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,489,434 |  | 7,570,169 |  |

PROVISIONS FOR LIABILITIES | 15 | 48,348 |  | 132,948 |  |

NET ASSETS | 6,441,086 |  | 7,437,221 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 1 |  | 1 |  |

Retained earnings | 17 | 6,441,085 |  | 7,437,220 |  |

SHAREHOLDERS' FUNDS | 6,441,086 |  | 7,437,221 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2026 and were signed on its behalf by:

Mrs L J Newitt - Director

N J Newitt - Director

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

STATEMENT OF CHANGES IN EQUITY

for the Year Ended 31 December 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2024 | 1 |  | 6,219,566 |  | 6,219,567 |  |

Changes in equity

Total comprehensive income | - |  | 1,217,654 |  | 1,217,654 |  |

Balance at 31 December 2024 | 1 |  | 7,437,220 |  | 7,437,221 |  |

Changes in equity

Dividends | - |  | (1,875,234 | ) | (1,875,234 | ) |

Total comprehensive income | - |  | 879,099 |  | 879,099 |  |

Balance at 31 December 2025 | 1 |  | 6,441,085 |  | 6,441,086 |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Newitt & Co Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Claxton Hall, Flaxton, York, YO60 7RE.

| The principal activity of the company is retail sale of sporting equipment.

| The presentational currency of the financial statements is 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.

| Going Concern

| Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

| The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

| As of 31 December 2025, the company had net assets of £6,441,086 (2024 - £7,437,221) and net current assets of £6,293,413 (2024: £6,120,605).

| The company's financial forecasts, taking into consideration the current environment, show that the company's cashflow gives the company the ability to continue to operate for the foreseeable future.

| Based on these facts and the current financial position, forecasts and cash flows of the company, the directors have concluded it is appropriate for the financial statements to be prepared on a going concern basis.

| 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.

| 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.

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Significant judgements and estimates

| In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values 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.

| No key sources of estimation uncertainty are noted by management that have a significant effect on the amounts recognised in the financial statements.

| Turnover

| Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

| Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product have been transferred to the customer.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Patents and licences are being amortised evenly over their estimated useful life of ten years.

| Tangible fixed assets

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

| Short leasehold | - | 2% on cost

| Plant and machinery | - | 25% on cost

| Fixtures and fittings | - | 25% on cost

| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

| If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

| Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is included in the accounts at its average cost, which is recalculated automatically upon the purchase of new stock items.

| Taxation

| Income tax expense represents the sum of the tax currently payable and deferred tax.

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for the current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

| Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

| Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

| Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Trade and other debtors

| Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such case the receivables are stated at cost less impairment losses for bad and doubtful debts.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

| Trade and other creditors

| Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

| Impairment of financial assets

| Financial assets, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that have occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

| Interest bearing borrowings

| Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. The obligations for contributions to defined contribution scheme are recognised as an expense in the period they are incurred. The assets of the scheme are held separately from those of the company in an independent administered fund.

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Related parties

| For the purposes of these financial statements, a party is considered to be related to the company if:

| (i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company;

| (ii) the company and the party are subject to common control;

| (iii) the party is an associate of the company or a joint venture in which the company is a venture

| (iv) the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

| (v) the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or

| (vi) the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.

| (vii) the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.

| Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

| Financial instruments

| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to

| the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

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 for the year ended 31 December 2024 is given below:

£ |

| Sale of goods | 19,767,137 |  |

19,767,137 |  |

| This analysis is not considered to be applicable to the year ended 31 December 2025.

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

| 2025 |  | 2024

£ | £ |

| United Kingdom | 18,889,309 |  | 19,599,045 |  |

| Exports | 126,424 |  | 168,092 |  |

19,015,733 |  | 19,767,137 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,895,840 |  | 1,358,805 |  |

| Social security costs | 239,839 |  | 147,041 |  |

| Other pension costs | 22,135 |  | 19,550 |  |

2,157,814 |  | 1,525,396 |  |

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

| 2025 |  | 2024

| Administration | 5 |  | 5 |  |

| Operations | 28 |  | 28 |  |

33 |  | 33 |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS - continued

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 846,584 |  | 421,584 |  |

| Directors' pension contributions to money purchase schemes | 1,321 |  | 1,321 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 401,032 |  | 172,560 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Other operating leases | 205,908 |  | 233,708 |  |

| Depreciation - owned assets | 98,323 |  | 102,241 |  |

| Patents and licences amortisation | 105 |  | 105 |  |

| Auditors' remuneration | 26,250 |  | 25,000 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Other interest | - |  | 3,987 |  |

| Interest payable | 124 |  | - |  |

124 |  | 3,987 |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 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 | 292,166 |  | 357,366 |  |

| Deferred tax | (84,600 | ) | 36,764 |  |

| Tax on profit | 207,566 |  | 394,130 |  |

| 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 | 1,086,665 |  | 1,611,784 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 271,666 |  | 402,946 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2,084 |  | 562 |  |

| Capital allowances in excess of depreciation | - |  | (39,350 | ) |

| Depreciation in excess of capital allowances | 18,416 |  | - |  |

| Other permanent differences | - |  | (6,792 | ) |

| Deferred tax | (84,600 | ) | 36,764 |  |

| Total tax charge | 207,566 |  | 394,130 |  |

| 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. In the year to 31 December 2025, deferred tax is charged at 25% (2024 - 25%).

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary share share of 1

| Interim | 1,875,234 |  | - |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

9. | INTANGIBLE FIXED ASSETS

| Patents

| and

| licences

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 1,052 |  |

| AMORTISATION

| At 1 January 2025 | 335 |  |

| Amortisation for year | 105 |  |

| At 31 December 2025 | 440 |  |

| NET BOOK VALUE

| At 31 December 2025 | 612 |  |

| At 31 December 2024 | 717 |  |

10. | TANGIBLE FIXED ASSETS

| Fixtures |

| Short |  | Plant and |  | and |

| leasehold |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2025 | 1,159,893 |  | 20,611 |  | 832,081 |  | 2,012,585 |  |

| Disposals | (1,159,893 | ) | - |  | - |  | (1,159,893 | ) |

| At 31 December 2025 | - |  | 20,611 |  | 832,081 |  | 852,692 |  |

| DEPRECIATION

| At 1 January 2025 | 4,778 |  | 19,903 |  | 539,057 |  | 563,738 |  |

| Charge for year | - |  | 548 |  | 97,775 |  | 98,323 |  |

| Eliminated on disposal | (4,778 | ) | - |  | - |  | (4,778 | ) |

| At 31 December 2025 | - |  | 20,451 |  | 636,832 |  | 657,283 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 160 |  | 195,249 |  | 195,409 |  |

| At 31 December 2024 | 1,155,115 |  | 708 |  | 293,024 |  | 1,448,847 |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

11. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 4,985,436 |  | 4,605,373 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 850,422 |  | 580,292 |  |

| Other debtors | 101,651 |  | 5,781 |  |

| Prepayments | 43,248 |  | 46,013 |  |

995,321 |  | 632,086 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 903,291 |  | 702,591 |  |

| Amounts owed to group undertakings | - |  | 336,373 |  |

| Tax | 67,166 |  | 107,366 |  |

| Social security and other taxes | 63,357 |  | 38,852 |  |

| VAT | 262,876 |  | 277,899 |  |

| Other creditors | 540,357 |  | 549,015 |  |

| Accrued expenses | 41,279 |  | 69,841 |  |

1,878,326 |  | 2,081,937 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | - |  | 233,708 |  |

| Between one and five years | - |  | 681,648 |  |

- |  | 915,356 |  |

15. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 48,348 |  | 132,948 |  |

NEWITT & CO LIMITED (REGISTERED NUMBER: 04561672)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2025

15. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 132,948 |  |

| Credit to Income Statement during year | (84,600 | ) |

| Balance at 31 December 2025 | 48,348 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 1 | Ordinary share | 1 | 1 |  | 1 |  |

| The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company. All ordinary shares rank equally with regard to the company's residual assets.

17. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 7,437,220 |  |

| Profit for the year | 879,099 |  |

| Dividends | (1,875,234 | ) |

| At 31 December 2025 | 6,441,085 |  |

18. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company is Newitts of York Limited, a company registered in England. The ultimate control is with the controlling shareholder of Newitts of York Limited, Mr N J Newitt.