The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Ackerman & Niece Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13-15 High Street, Witney, Oxfordshire, OX28 6HW.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving these financial statements, the directors have a reasonable expectation that the truecompany has adequate resources to continue in operational existence for the foreseeable future.

The directors have also considered the potential impact of the conflict in Iran on oil supply, which arose subsequent to the reporting date and is disclosed in note 11 to these financial statements.

In assessing the appropriateness of the going concern basis, the directors have taken into account all available relevant information about the future, including, but not limited to, a period of at least 12 months from the date of approval of these financial statements.

On this basis, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business and is shown net of VAT.

Revenue from the sale of oil is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (on delivery of oil), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 leased asset are consumed.

The average monthly number of persons (including directors) employed by the company during the year was:

A provision of £nil (2024 - £77,351) has been recognised against trade debtors at the year end in relation to bad and doubtful debts.

Included within bank loans and overdrafts is £21,623 (2024 - £nil) on which security has been given in the form of a fixed and floating charge over the assets of the company.

Included within trade creditors is £402,385 (2024 - £627,714) on which security has been given in the form of a fixed and floating charge over the assets of the company.

Included within other creditors is £62,029 (2024 - £81,570) which relates to amounts owed under finance leases. These amounts are secured upon the assets to which they relate.

Other creditors consists of amounts owed under finance leases. These amounts are secured upon the assets to which they relate.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 June 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.

Emphasis of matter

We draw attention to Note 12 to the financial statements, which describes the deterioration in the Company’s relationship with a key customer after the reporting date. This customer holds a material debtor balance arising post year end, which has been referred to third party debt collection agents. As stated in that note, the directors are unable at this time to determine the outcome of the recovery process.

However, the matter may result in a material impact on future periods, depending on the level of cash ultimately recovered. The directors continue to monitor the situation closely and will recognise any resulting impairment or losses in the period in which they arise.

The note also sets out the directors’ assessment of the potential impact of ongoing geopolitical instability, including the conflict in Iran, on supply chains, input costs, customer demand and wider economic conditions. While no significant disruption has been experienced to date, the situation remains uncertain and may adversely affect future trading conditions.

Our opinion is not modified in respect of these matters.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Amounts contracted for but not provided in the financial statements:

After the year end, but before these accounts were approved, the company entered into a lease purchase agreement for a fixed asset amounting to £76,926. The lease period is for 36 months.

After the year end, but before these accounts were approved, the company signed a new lease agreement to move to new offices. The total amount committed to by the company under this lease is £39,600.

Subsequent to the reporting date, the company’s relationship with a key customer has deteriorated. Following this deterioration, a material trade debtor balance owed by this customer has been referred to third-party debt collection agents for recovery.

At the date these financial statements were authorised for issue, the directors are unable to reliably determine the outcome of the recovery process. Since the reporting date, trading with the customer has ceased and the debt has been formally recalled. Cash receipts have been received post year end which, under the company’s normal allocation methodology, are sufficient to clear the balance outstanding as at 30 June 2025. Accordingly, no adjustment has been made to the carrying value of trade debtors at that date.

However, the matter may result in a material impact on future periods depending on the level of cash ultimately recovered. The directors continue to monitor the situation closely and will recognise any resulting impairment or losses in the period in which they arise.

The directors have considered the impact of this matter as part of their going concern assessment, including the effect on future trading profitability and cash flows. The directors are satisfied that this matter does not impact the company’s ability to continue as a going concern.

In addition, the directors have considered the potential impact of ongoing geopolitical instability, primarily the conflict in Iran, on supply chains, input costs, customer demand and wider economic conditions.

While no significant disruption has been experienced to date, the situation remains uncertain and could adversely affect future trading conditions.

Based on this assessment, the directors conclude that the going concern basis of accounting remains appropriate.

However, the matters described above indicate that the company is exposed to increased liquidity and operational risk, the outcome of which cannot be predicted with certainty.

Advances or credits have been granted by the company to its directors as follows:

Interest is not being charged and there are no repayment terms set on this balance.