REGISTERED NUMBER: 07269592 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

NEWITTS OF YORK LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Cash Flow Statement

18

Notes to the Consolidated Cash Flow Statement

19

Notes to the Consolidated Financial Statements

21

DIRECTORS:

N J Newitt

Mrs L J Newitt

F S Newitt

REGISTERED OFFICE:

Claxton Hall

Flaxton

York

North Yorkshire

YO60 7RE

REGISTERED NUMBER:

07269592 (England and Wales)

AUDITORS:

Sowerby

Chartered Accountants and Statutory Auditors

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

The directors present their strategic report of the company and the group for the year ended 31 December 2025.

REVIEW OF BUSINESS

The principle activity of the company throughout the year continues to be that of a parent holding company. The principle activity of the group throughout the year continues to be the sale of sporting goods.

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

The group 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 group to manage stock actively.

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

The group'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 group 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 group 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 group 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.

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 group 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 group 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

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

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

FUTURE DEVELOPMENTS

The group 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 group'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 group'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 group 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.

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;

-	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:

N J Newitt - Director

22 April 2026

Opinion

We have audited the financial statements of Newitts of York Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 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 31 December 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 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 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:

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.

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

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

3,246,197

2,494,935

5,310,621

4,897,668

1,138,521

1,701,109

Other operating income

14,524

3,165

OPERATING PROFIT

5

1,153,045

1,704,274

Interest receivable and similar income

80,312

90,433

1,233,357

1,794,707

Interest payable and similar expenses

6

29,081

60,224

PROFIT BEFORE TAXATION

1,204,276

1,734,483

Tax on profit

7

250,771

437,148

PROFIT FOR THE FINANCIAL YEAR

953,505

1,297,335

Profit attributable to:

Owners of the parent

953,505

1,297,335

PROFIT FOR THE YEAR

953,505

1,297,335

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

953,505

1,297,335

Total comprehensive income attributable to:

Owners of the parent

953,505

1,297,335

FIXED ASSETS

Intangible assets

9

612

717

Tangible assets

10

3,889,679

4,046,188

Investments

11

-

-

3,890,291

4,046,905

CURRENT ASSETS

Stocks

12

4,985,436

4,605,373

Debtors

13

1,002,258

648,421

Cash at bank

2,192,197

3,147,628

8,179,891

8,401,422

CREDITORS

Amounts falling due within one year

14

1,921,656

1,908,706

NET CURRENT ASSETS

6,258,235

6,492,716

TOTAL ASSETS LESS CURRENT LIABILITIES

10,148,526

10,539,621

CREDITORS

Amounts falling due after more than one year

15

-

(1,260,000

)

PROVISIONS FOR LIABILITIES

18

(48,348

)

(132,948

)

NET ASSETS

10,100,178

9,146,673

CAPITAL AND RESERVES

Called up share capital

19

2,000

2,000

Share premium

20

1,414,303

1,414,303

Retained earnings

20

8,683,875

7,730,370

SHAREHOLDERS' FUNDS

10,100,178

9,146,673

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

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

3,694,270

2,597,341

Investments

11

1

1

3,694,271

2,597,342

CURRENT ASSETS

Debtors

13

6,937

352,708

Cash at bank

1,215

182,545

8,152

535,253

CREDITORS

Amounts falling due within one year

14

43,329

163,142

NET CURRENT (LIABILITIES)/ASSETS

(35,177

)

372,111

TOTAL ASSETS LESS CURRENT LIABILITIES

3,659,094

2,969,453

CREDITORS

Amounts falling due after more than one year

15

-

1,260,000

NET ASSETS

3,659,094

1,709,453

CAPITAL AND RESERVES

Called up share capital

19

2,000

2,000

Share premium

20

1,414,303

1,414,303

Retained earnings

20

2,242,791

293,150

SHAREHOLDERS' FUNDS

3,659,094

1,709,453

Company's profit for the financial year

1,949,641

79,681

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

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2024

2,000

6,433,035

1,414,303

7,849,338

Changes in equity

Total comprehensive income

-

1,297,335

-

1,297,335

Balance at 31 December 2024

2,000

7,730,370

1,414,303

9,146,673

Changes in equity

Total comprehensive income

-

953,505

-

953,505

Balance at 31 December 2025

2,000

8,683,875

1,414,303

10,100,178

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2024

2,000

213,469

1,414,303

1,629,772

Changes in equity

Total comprehensive income

-

79,681

-

79,681

Balance at 31 December 2024

2,000

293,150

1,414,303

1,709,453

Changes in equity

Total comprehensive income

-

1,949,641

-

1,949,641

Balance at 31 December 2025

2,000

2,242,791

1,414,303

3,659,094

Cash flows from operating activities

Cash generated from operations

1

748,721

1,454,401

Interest paid

(29,081

)

(60,224

)

Tax paid

(375,382

)

(465,943

)

Net cash from operating activities

344,258

928,234

Cash flows from investing activities

Purchase of tangible fixed assets

(1,155,116

)

(1,170,447

)

Sale of tangible fixed assets

1,155,115

-

Interest received

80,312

90,433

Net cash from investing activities

80,311

(1,080,014

)

Cash flows from financing activities

Loan repayments in year

(1,380,000

)

(120,000

)

Net cash from financing activities

(1,380,000

)

(120,000

)

Decrease in cash and cash equivalents

(955,431

)

(271,780

)

Cash and cash equivalents at beginning of year

2

3,147,628

3,419,408

Cash and cash equivalents at end of year

2

2,192,197

3,147,628

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,204,276

1,734,483

Depreciation charges

156,615

151,718

Finance costs

29,081

60,224

Finance income

(80,312

)

(90,433

)

1,309,660

1,855,992

Increase in stocks

(380,063

)

(607,757

)

(Increase)/decrease in trade and other debtors

(353,837

)

264,609

Increase/(decrease) in trade and other creditors

172,961

(58,443

)

Cash generated from operations

748,721

1,454,401

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

2,192,197

3,147,628

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

3,147,628

3,419,408

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank

3,147,628

(955,431

)

2,192,197

3,147,628

(955,431

)

2,192,197

Debt

Debts falling due within 1 year

(120,000

)

120,000

-

Debts falling due after 1 year

(1,260,000

)

1,260,000

-

(1,380,000

)

1,380,000

-

Total

1,767,628

424,569

2,192,197

1.	STATUTORY INFORMATION

Newitts Of York 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 that of a property holding company. The principal activities of the group are 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.

The group's forecasts and projections, taking account of reasonably likely changes in trading performance, show that the group should be able to operate within the level of financial resources and facilities currently available to it.

All parts of the group have performed well.

The group's financial reserves are strong which has allowed it to continue to invest heavily in all parts of the group's businesses to ensure continued success.

The directors believe that the group will continue to perform well in the coming years.

The directors, having taken into account the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Consequently they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Basis of consolidation

The financial statements are made up the 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.