REGISTERED NUMBER: 01406933 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Period

1 February 2025 to 30 January 2026

for

FRANK KING (WIGAN) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

Directors:

J L Fitzsimons

J Hamer

J Hamer

J Latham

Secretary:

J Hamer

Registered office:

69 Queen Street

Wigan

WN3 4HX

Registered number:

01406933 (England and Wales)

Auditors:

S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

The directors present their strategic report for the period 1 February 2025 to 30 January 2026.

Principal activity

The company's principal activity during the period continued to be the manufacturing and wholesale of cooked meats.

Review of business

The company posted a very strong period of growth with sales revenue increasing by 5.8% year on year to £23.5m (2025: £22.2m). This is due to an increase in sales quantities and prices. The increase in sales prices has been driven by rising raw material and labour costs. The financial statements also show a substantial increase in net current assets. Total equity has grown by 3.3%.

The company continues to drive expansion of production with the purchase of land in this period. This will be developed facilitating further growth.

Principal risks and uncertainties

The directors regularly review the business risks and uncertainties facing the company and take appropriate action when necessary. The following issues are the principal risks and uncertainties faced by the company.

Health and safety

The company is in a highly regulated industry where the maintenance of hygiene and health and safety standards is absolutely crucial. The company recognises its obligations and the risk to its reputation of any incident affecting either its customers or employees. The directors are mindful of their responsibilities and comply with all relevant legislation.

Credit risk

To be commercial the company must allow its customers to trade with credit terms and hence the company is exposed to the associated risks. The company mitigates these risks by carrying out credit checks on new customers and obtaining credit insurance against all debtor balances. Bad debts are very rare and, in most circumstances, would be covered by insurance, so exposure to credit risk is considered to be low.

Liquidity risk

The liquidity risk of the company is considered to be low because the company has a healthy balance sheet position at the year end and strong cash flow generated from operations, which will continue to support the company operations.

Foreign currency risk

The company is exposed to foreign currency risks due to trading carried out both within Europe and internationally. The company mitigates exposures to these risks through the purchase of currency forward contracts.

Interest rate risk

The company has loans which funded the extension of the factory. As such, the operations of the company are exposed to the effects of the changes in interest rates on debt. Wherever possible the company enters into fixed rate interest agreements to reduce the exposure to changes in interest rates. However should interest rates increase, the company is well placed to absorb any change in rates as cash flow remains strong.

Environmental risks

The company operates in a highly competitive industry which is subject to various environmental risks. Continual investment in the company's factory and plans for further expansion help the company achieve its BRC AA rating.

Price risk

World events mean the company continues to experience pressure from raw ingredients and energy costs which is partially mitigation by buying in international markets and the policy of not entering into long term sales contracts.

Labour availability risk

The company continues to invest in the employees. Having a stable workforce with relatively low staff turnover. Promotion from within the company is encouraged. The company is also geographically positioned with very good transport links and within a town that has had historically a high concentration of food manufacturers. As such it can draw from a very good local pool of employees and consider the risk of labour availability to be low.

Key performance indicators

2026

2025

£

£

Turnover

23,524,142

22,229,423

Gross profit

5,875,357

6,191,430

Operating profit

1,612,870

1,756,071

Profit after taxation

1,163,775

1,170,147

Net current assets

3,121,282

3,130,650

Total equity

5,018,782

4,845,530

Future developments

On the back of an exceptional performance, with a focus on in-house efficiencies, investment in staff and additional production facilities the company aims to see continuous improvement in profitability.

On behalf of the board:

J Latham - Director

22 June 2026

The directors present their report with the financial statements of the company for the period 1 February 2025 to 30 January 2026.

Results

The results for the period are set out on the Statement of Comprehensive Income.

The profit for the period, after taxation, amounted to £1,163,775 (2025: £1,170,147).

Dividends

Dividends of £990,523 (2025: £408,009) were paid to Value Meats Limited, the company's intermediate parent.

Directors

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

J L Fitzsimons

J Hamer

J Hamer

J Latham

Disclosure in the strategic report

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of:

-

Financial risk management and objective policies

-

Future developments

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:

J Latham - Director

22 June 2026

Opinion

We have audited the financial statements of Frank King (Wigan) Limited (the 'company') for the period ended 30 January 2026 which comprise the Statement of 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 30 January 2026 and of its profit for the period 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 other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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. 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 course of 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 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 four, 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.

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.

We obtained a general understanding of the company's legal and regulatory framework through the enquiry of management concerning their understanding of relevant laws and regulations, the company's policies and procedures regarding compliance and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company's industry and regulation,

We understand that the company complies with the framework through outsourcing accounts preparation and tax compliance to external experts and legal matters where required to external experts.

In the context of the audit, we considered those laws and regulations which determine the form and context of the financial statements, which are central to the company's ability to conduct its business and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the company:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements;

- UK taxation law; and

- Environmental, health and safety and trade standards.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement including how fraud might occur.

The areas identified in this discussion were:

- manipulation of financial statement, via fraudulent journal entries;

- revenue recognition, in particular overstatement of revenue; and

- property valuations.

This area was communicated to the other members of the engagement team not present at the discussion.

The procedures we carried out to gain evidence in the above areas included:

- discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- identifying and testing journals, with a risk based-approach using data analytics, in particular any journal entries posted with unusual account combinations;

focusing on revenue recognition, in particular sampling sales around the year end to check correctly recognised in accordance with delivery dates and occurrence of sales via clearance of trade debtors and after date cash; and

- assessing and challenging management key accounting estimates by evaluating the significant assumptions and the choice of data used, this includes the review of the value of the properties.

Overall, the senior statutory auditor was satisfied that the engagement team collectively had the appropriate competence and capabilities to identify and recognise irregularities.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

David Fort FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

22 June 2026

Turnover

4

23,524,142

22,229,423

Cost of sales

(17,648,785

)

(16,037,993

)

Gross profit

5,875,357

6,191,430

Distribution costs

(698,168

)

(659,407

)

Administrative expenses

(3,568,653

)

(3,776,643

)

1,608,536

1,755,380

Other operating income

4,334

691

Operating profit

6

1,612,870

1,756,071

Interest receivable and similar income

4,785

18,536

1,617,655

1,774,607

Interest payable and similar expenses

7

(64,792

)

(95,914

)

Profit before taxation

1,552,863

1,678,693

Tax on profit

8

(389,088

)

(508,546

)

Profit for the financial period

1,163,775

1,170,147

Other comprehensive income

-

-

Total comprehensive income for the period

1,163,775

1,170,147

Fixed assets

Tangible assets

10

2,870,217

2,979,748

Current assets

Stocks

11

978,048

1,564,087

Debtors

12

3,161,990

3,630,974

Cash at bank and in hand

650,850

166,258

4,790,888

5,361,319

Creditors

Amounts falling due within one year

13

1,669,606

2,230,669

Net current assets

3,121,282

3,130,650

Total assets less current liabilities

5,991,499

6,110,398

Creditors

Amounts falling due after more than one year

14

(667,083

)

(927,033

)

Provisions for liabilities

19

(305,634

)

(337,835

)

Net assets

5,018,782

4,845,530

Capital and reserves

Called up share capital

20

300,000

300,000

Retained earnings

21

4,718,782

4,545,530

Shareholders' funds

5,018,782

4,845,530

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

J Latham - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 27 January 2024

300,000

3,783,392

4,083,392

Changes in equity

Dividends

-

(408,009

)

(408,009

)

Total comprehensive income

-

1,170,147

1,170,147

Balance at 31 January 2025

300,000

4,545,530

4,845,530

Changes in equity

Dividends

-

(990,523

)

(990,523

)

Total comprehensive income

-

1,163,775

1,163,775

Balance at 30 January 2026

300,000

4,718,782

5,018,782

1.	Statutory information

Frank King (Wigan) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

Reporting period

The company draws its balance sheet to the closest Friday to the accounting reference date of 30 January. The current accounting period is a short period of 364 days. The comparative amounts presented in the financial statements are not entirely comparable.

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

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

The company's supply chain both national and international has remained operational throughout the current market conditions, and the company has no reason to doubt that this will not remain the same in the future.

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

Financial Reporting Standard 102 - reduced disclosure exemptions

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 requirement of paragraph 33.7.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment assessment

As assessment has been conducted as to whether an impairment exists. The higher of the fair value less costs to sell and the value in use has been assessed against the carrying amounts of the assets. It was determined that there is no impairment in the current year due to the forecasts and assessments being greater than the carrying amount of the assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

2% straight line

Leasehold buildings

-

straight line over the term of the lease

Plant and machinery

-

20% straight line and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Costs include the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 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.

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 in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.

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 is given below:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Sale of goods

23,524,142

22,229,423

23,524,142

22,229,423

5.	Employees and directors

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Wages and salaries

4,374,005

4,413,878

Social security costs

520,413

396,448

Other pension costs

127,258

121,151

5,021,676

4,931,477

The average number of employees during the period was as follows:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

Production staff

126

123

Administrative staff

31

27

Senior management

4

4

161

154

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Directors' remuneration

75,773

75,522

Directors' pension contributions to money purchase schemes

24,009

21,316

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

3

3

6.	Operating profit

The operating profit is stated after charging/(crediting):

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Other operating leases

47,111

34,668

Depreciation - owned assets

326,504

365,367

Loss/(profit) on disposal of fixed assets

3,423

(1,243

)

Auditors' remuneration

11,500

12,000

Foreign exchange differences

16,949

(4,201

)

7.

Interest payable and similar expenses

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Bank interest

63,582

93,516

Interest payable

1,210

1,903

Hire purchase

-

495

64,792

95,914

8.

Taxation

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Current tax:

UK corporation tax

421,289

465,892

(Over)/under provision PY

-

10,434

Total current tax

421,289

476,326

Deferred tax

(32,201

)

32,220

Tax on profit

389,088

508,546

UK corporation tax has been charged at 25% (2025 - 25%).

Reconciliation of total tax charge included in profit and loss

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Profit before tax

1,552,863

1,678,693

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

388,216

419,673

Effects of:

Expenses not deductible for tax purposes

18,735

32,969

Income not taxable for tax purposes

-

(6,207

)

Depreciation in excess of capital allowances

25,729

19,457

Adjustments to tax charge in respect of previous periods

-

10,434

corporation tax rate

Deferred tax

(32,201

)

32,220

Group relief

(11,391

)

-

Total tax charge

389,088

508,546

9.

Dividends

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Final paid

990,523

408,009

10.	Tangible fixed assets

Freehold

Leasehold

Plant and

property

buildings

machinery

£

£

£

Cost

At 1 February 2025

1,982,054

511,333

3,502,489

Additions

-

-

177,244

Disposals

-

-

(85,434

)

At 30 January 2026

1,982,054

511,333

3,594,299

Depreciation

At 1 February 2025

401,118

52,187

2,654,079

Charge for period

34,480

4,398

233,031

Eliminated on disposal

-

-

(82,010

)

At 30 January 2026

435,598

56,585

2,805,100

Net book value

At 30 January 2026

1,546,456

454,748

789,199

At 31 January 2025

1,580,936

459,146

848,410

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 February 2025

104,106

473,711

6,573,693

Additions

-

43,153

220,397

Disposals

-

(1,209

)

(86,643

)

At 30 January 2026

104,106

515,655

6,707,447

Depreciation

At 1 February 2025

60,162

426,399

3,593,945

Charge for period

10,986

43,609

326,504

Eliminated on disposal

-

(1,209

)

(83,219

)

At 30 January 2026

71,148

468,799

3,837,230

Net book value

At 30 January 2026

32,958

46,856

2,870,217

At 31 January 2025

43,944

47,312

2,979,748

11.

Stocks

2026

2025

£

£

Stocks

978,048

1,564,087