ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 05843042

Classic Football Company Limited

Annual Report and Financial Statements

For the Year Ended 30 June 2025


Classic Football Company Limited

Company Information

Directors	D Bierton
	M J P Dale
	C Barry
	G Bettinelli
	J Beilman


Registered number	05843042


Registered office	67 Broadway
	Hyde
	SK14 4QF


Independent auditors	Hurst Accountants Limited
	Chartered Accountants & Statutory Auditors
	3 Stockport Exchange
	Stockport
	SK1 3GG


Classic Football Company Limited

Contents

	Page
Group Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 8
Consolidated Statement of Comprehensive Income	9
Consolidated Balance Sheet	10
Company Balance Sheet	11
Consolidated Statement of Changes in Equity	12
Company Statement of Changes in Equity	13
Consolidated Statement of Cash Flows	14 - 15
Consolidated Analysis of Net Debt	16
Notes to the Financial Statements	17 - 37


Classic Football Company Limited

Group Strategic Report

For the Year Ended 30 June 2025

Introduction

The Directors present their Strategic Report on the company for the year ended 30 June 2025.

Business review

We aim to present a balanced and comprehensive review of the development and performance of the company during the year ‘FY25’ and at the year end.

The company continued on it’s mission to expand its physical presence in the US, opening up 2 stores in both LA and Miami, along with a number of successful pop ups to further improve the market share and drive incremental ecommerce growth.

The company also undertook a number of short term ventures and strategic partnerships in APAC and Europe with the aim to drive market awareness and topline revenue, building relationships with complimentary businesses.

This is reflected in another impressive year of 26% revenue growth, which the directors remain pleased with given the ever changing economic and political landscape; seen also in continued new customer growth across the ecommerce platform.

We also acquired in it’s entirety AwayDaysYT Ltd during the year, a rapidly growing complimentary social brand, to support in attracting a wider demographic of customers and growing our social presence further.

However with this growth in revenue and global presence came a substantial, planned increase in operating expense, principally within the Wage line, as we looked to grow key strategic areas of the business such as a clearly defined Senior Management structure, an increased presence in marketing, strategy and add additional weight to the product and operational teams to facilitate the growing demand; combined with governmental changes out of our control.

Principal risks and uncertainties

The risks remain as per prior years, ensuring we continue to maximise the revenue opportunities whilst mitigating the ever increasing costs to run the business; especially as we expand into new markets physically, which exposes us even more so to a wider political and economic back drop.

Financial key performance indicators

The directors ensure that the key financial performance indicators are reviewed regularly on management reports which are summarised below. It should be noted that EBITDA excludes exceptional costs, interest, taxation, depreciation, amortisation, loss on disposal of fixed assets and the fair value of share options.

Indicator	FY25	FY24	Increase/(Decrease)	Increase/(Decrease)
	£	£	£	%
Turnover	40,062,188	31,885,350	8,176,838	25.6%
EBITDA	3,248,061	4,623,871	(1,375,810)	(29,8)%
Profit after tax	663,696	1,304,385	(640,689)	(49.1)%

Page 1


Classic Football Company Limited

Group Strategic Report (continued)

For the Year Ended 30 June 2025

This report was approved by the board and signed on its behalf.

D Bierton

Director

Date: 22 June 2026

Page 2


Classic Football Company Limited

Directors' Report

For the Year Ended 30 June 2025

The directors present their report and the financial statements for the year ended 30 June 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Group's financial statements 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 Group 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 the Group and to 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.

Principal activity

The principal activity of the company in the year under review was that of the purchase and sale of football shirts.

Results and dividends

The profit for the year, after taxation, amounted to £663,696 (2024 - £1,304,385).

The directors recommend that no dividend be paid for this financial year.

Directors

The directors who served during the year were:

D Bierton

M J P Dale

C Barry

G Bettinelli

J Beilman

Page 3


Classic Football Company Limited

Directors' Report (continued)

For the Year Ended 30 June 2025

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Auditors

The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

D Bierton

Director

Date: 22 June 2026

Page 4


Classic Football Company Limited

Independent Auditors' Report to the Members of Classic Football Company Limited

Opinion

We have audited the financial statements of Classic Football Company Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 June 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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's affairs as at 30 June 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 United Kingdom, including the Financial Reporting Council'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 or 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.

Page 5


Classic Football Company Limited

Independent Auditors' Report to the Members of Classic Football Company Limited (continued)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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.

Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report 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 Directors' Report.

We have nothing to report in respect of the following matters in relation to which 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 Directors' Responsibilities Statement set out on page 3, 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 is 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.

Page 6


Classic Football Company Limited

Independent Auditors' Report to the Members of Classic Football Company Limited (continued)

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 an Auditors' Report 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 Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

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

∙The nature of the industry and sector in which the company operates: the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.

∙The outcome of enquiries of local management and parent company management, including whether management was ware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.

∙Supporting documentation relating to the Company's policies and procedures for:

−Identifying, evaluating, and complying with laws and regulations; and

−Detecting and responding to the risks of fraud.

∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.

∙The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

∙The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Antibribery and Corruption.

Audit response to risks identified

Our procedures to respond to the risks identified included the following:

∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.

∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.

∙Evaluation of management's controls designed to prevent and detect irregularities.

∙Enquiring of management about any actual and potential litigation and claims.

∙Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.

We have also considered the risk of fraud through management override of controls by:

∙Testing the appropriateness of journal entries and other adjustments.

Page 7


Classic Football Company Limited

Independent Auditors' Report to the Members of Classic Football Company Limited (continued)

∙Challenging assumptions made by management in their significant accounting estimates, and 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.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, 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.

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 Auditors' Report.

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 an Auditors' Report 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.

Anthony Woodings (Senior Statutory Auditor)

for and on behalf of

Hurst Accountants Limited

Chartered Accountants

Statutory Auditors

3 Stockport Exchange

Stockport

SK1 3GG

23 June 2026

Page 8


Classic Football Company Limited

Consolidated Statement of Comprehensive Income

For the Year Ended 30 June 2025

	2025	2024
Note	£	£


Turnover	4	40,062,188	31,885,350
Cost of sales		(19,129,279)	(15,333,529)
Gross profit		20,932,909	16,551,821
Distribution costs		(3,942,279)	(3,179,394)
Administrative expenses		(15,271,883)	(9,242,747)
Exceptional administrative expenses		(593,859)	(2,811,016)
Operating profit	5	1,124,888	1,318,664
Interest receivable and similar income	9	269,553	2,494
Interest payable and similar expenses	10	(98,458)	(182,871)
Profit before tax		1,295,983	1,138,287
Tax on profit	11	(632,287)	166,098
Profit for the financial year		663,696	1,304,385

Profit for the year attributable to:
Owners of the Parent Company		(663,696)	(1,304,385)

The notes on pages 17 to 37 form part of these financial statements.

Page 9


Classic Football Company Limited Registered number:05843042

Consolidated Balance Sheet

As at 30 June 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	13		590,618		-
Tangible assets	14		4,503,851		3,898,387
			5,094,469		3,898,387
Current assets
Stocks	16	21,341,174		16,593,141
Debtors: amounts falling due within one year	17	2,534,772		2,975,899
Cash at bank and in hand	18	9,719,811		10,882,052
		33,595,757		30,451,092
Creditors: amounts falling due within one year	19	(5,071,880)		(4,482,817)
Net current assets			28,523,877		25,968,275
Total assets less current liabilities			33,618,346		29,866,662
Creditors: amounts falling due after more than one year	20		(1,325,671)		(1,323,854)
Provisions for liabilities
Deferred tax	22	(269,624)		(57,988)
			(269,624)		(57,988)
Net assets			32,023,051		28,484,820

Capital and reserves
Called up share capital	23	294	277
Share premium account	24	13,632,226	11,499,938
Share-based payment reserve	24	742,230	-
Profit and loss account	24	17,648,301	16,984,605
		32,023,051	28,484,820

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Bierton

Director

Date: 22 June 2026

The notes on pages 17 to 37 form part of these financial statements.

Page 10


Classic Football Company Limited Registered number:05843042

Company Balance Sheet

As at 30 June 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	14		4,046,795		3,898,387
Investments	15		681,925		21,886
			4,728,720		3,920,273
Current assets
Stocks	16	20,992,953		16,593,141
Debtors: amounts falling due within one year	17	4,250,989		2,975,899
Cash at bank and in hand	18	8,593,494		10,882,052
		33,837,436		30,451,092
Creditors: amounts falling due within one year	19	(4,982,314)		(4,482,817)
Net current assets			28,855,122		25,968,275
Total assets less current liabilities			33,583,842		29,888,548

Creditors: amounts falling due after more than one year	20		(1,325,671)		(1,323,854)
Provisions for liabilities
Deferred taxation	22	(268,897)		(57,988)
			(268,897)		(57,988)
Net assets			31,989,274		28,506,706

Capital and reserves
Called up share capital	23		294		277
Share premium account	24		13,632,226		11,499,938
Share-based payment reserve	24		742,230		-
Profit and loss account brought forward		17,006,491		15,680,392
Profit for the year		608,033		1,326,099
Profit and loss account carried forward			17,614,524		17,006,491
			31,989,274		28,506,706

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Bierton

Director

Date: 22 June 2026

The notes on pages 17 to 37 form part of these financial statements.

Page 11


Classic Football Company Limited

Consolidated Statement of Changes in Equity

For the Year Ended 30 June 2025

	Called up share capital	Share premium account	Share-based payment reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 July 2023	111	-	-	15,680,220	15,680,331

Profit for the year	-	-	-	1,304,385	1,304,385
Shares issued during the year	166	11,499,938	-	-	11,500,104

At 1 July 2024	277	11,499,938	-	16,984,605	28,484,820

Profit for the year	-	-	-	663,696	663,696
Shares issued during the year	17	2,132,288	-	-	2,132,305
Grant of share options during the year	-	-	742,230	-	742,230
At 30 June 2025	294	13,632,226	742,230	17,648,301	32,023,051

The notes on pages 17 to 37 form part of these financial statements.

Page 12


Classic Football Company Limited

Company Statement of Changes in Equity

For the Year Ended 30 June 2025

	Called up share capital	Share premium account	Share-based payment reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 July 2023	111	-	-	15,680,392	15,680,503

Profit for the year	-	-	-	1,326,099	1,326,099
Shares issued during the year	166	11,499,938	-	-	11,500,104

At 1 July 2024	277	11,499,938	-	17,006,491	28,506,706

Profit for the year	-	-	-	608,033	608,033
Shares issued during the year	17	2,132,288	-	-	2,132,305
Grant of share options during the year	-	-	742,230	-	742,230
At 30 June 2025	294	13,632,226	742,230	17,614,524	31,989,274

The notes on pages 17 to 37 form part of these financial statements.

Page 13


Classic Football Company Limited

Consolidated Statement of Cash Flows

For the Year Ended 30 June 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	663,696	1,304,385
Adjustments for:
Amortisation of intangible assets	36,682	-
Depreciation of tangible assets	677,768	494,191
Loss on disposal of tangible assets	72,634	-
Interest paid	98,458	182,871
Interest received	(269,553)	(2,494)
Taxation charge	632,287	(166,098)
(Increase) in stocks	(4,748,033)	(4,685,253)
Decrease/(increase) in debtors	441,127	(2,257,411)
Increase in creditors	28,322	2,687,053
Corporation tax (paid)	(12,230)	(1,240,678)
Share-based payment expense	742,230	-
Net cash generated from operating activities	(1,636,612)	(3,683,434)

Cash flows from investing activities
Purchase of tangible fixed assets	(1,388,507)	(416,867)
Sale of tangible fixed assets	32,641	-
Purchase of fixed asset investments	(371,727)	-
Interest received	269,553	2,494
Net cash from investing activities	(1,458,040)	(414,373)

Page 14


Classic Football Company Limited

Consolidated Statement of Cash Flows (continued)

For the Year Ended 30 June 2025

		2025	2024
		£	£


Cash flows from financing activities
Issue of ordinary shares	17	77
New secured loans	-	500,000
Repayment of loans	(101,436)	(466,674)
Repayment of/new finance leases	-	(3,027)
Loans due from/(repaid to) directors	-	1,345,000
Interest paid	(98,458)	(182,871)
Share premium on issue	3,794,983	11,499,938
Share premium reduction	(1,662,695)	-
Net cash used in financing activities	1,932,411	12,692,443
Net (decrease)/increase in cash and cash equivalents	(1,162,241)	8,594,636
Cash and cash equivalents at beginning of year	10,882,052	2,287,416
Cash and cash equivalents at the end of year	9,719,811	10,882,052

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	9,719,811	10,882,052
	9,719,811	10,882,052

The notes on pages 17 to 37 form part of these financial statements.

Page 15


Classic Football Company Limited

Consolidated Analysis of Net Debt

For the Year Ended 30 June 2025


At 1 July 2024	Cash flows	Acquisition and disposal of subsidiaries	At 30 June 2025
£	£	£	£

Cash at bank and in hand	10,882,052	(852,260)	(309,981)	9,719,811
Debt due after 1 year	(1,323,854)	248,183	(125,000)	(1,200,671)
Debt due within 1 year	(601,999)	603,253	(125,000)	(123,746)
	8,956,199	(824)	(559,981)	8,395,394

The notes on pages 17 to 37 form part of these financial statements.

Page 16


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

1.	General information

Classic Football Company 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.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 17


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

2.Accounting policies (continued)

2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the turnover can be reliably measured. Turnover is recognised on payment with order, the order being immediately actioned for delivery. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 18


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Exceptional items

Exceptional items are transactions that are not expected to recur frequently and are presented separately due to their size or incidence.

Page 19


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

2.Accounting policies (continued)

2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life, which is considered to be 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. There are no Other intangible assets held at the balance sheet date.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold property	-	5%	on cost
Short-term leasehold property	-	5%	on cost
Motor vehicles	-	25%	on reducing balance
Computers and office equipment	-	25%	on reducing balance
Website	-	25%	on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 20


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

2.Accounting policies (continued)

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.

Increases in provisions are generally charged as an expense to profit or loss.

2.19

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or

Page 21


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

2.Accounting policies (continued)

2.19

Financial instruments (continued)

receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates that affect amounts recognised for assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the reporting period. Actual outcomes may differ from those judgements, estimates and assumptions. The judgements, estimates and assumptions that have the most significant effect on the carrying value of assets and liabilities of the Company at 30 June 2025 are as follows:

Stock provision

A general stock provision based on ageing of clearance stock has been made, in order to reduce the valuation to the estimated net realisable value.

Page 22


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

Turnover

The whole of the turnover is attributable to the principal activity of the Company.

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	14,483,100	13,182,134
Rest of Europe	10,176,691	8,890,294
Rest of the world	15,402,397	9,812,922
	40,062,188	31,885,350

	Exchange differences	218,837	3,502
	Other operating lease rentals	-	5,337

Audit of the Company's financial statements	40,100	25,000
Preparation on statutory accounts	5,300	4,250
Corporation tax	6,200	3,500

Page 23


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

7.	Employees
	Staff costs, including directors' remuneration, were as follows:

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Wages and salaries	8,207,222	4,014,367	7,409,450	4,014,367
Social security costs	726,998	567,334	692,914	567,334
Cost of defined contribution scheme	184,348	76,955	177,509	76,955
	9,118,568	4,658,656	8,279,873	4,658,656

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Purchasing and product sourcing	20	7	20	7
Processing to website	40	42	40	42
Selling and marketing	13	7	11	7
Warehouse and distribution	66	46	66	46
Shops	39	25	25	25
Administration	31	15	29	15
Directors	3	2	3	2

	212	144	194	144

8.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	621,410	164,592
Group contributions to defined contribution pension schemes	5,460	2,179
	626,870	166,771

During the year retirement benefits were accruing to 2 directors (2024 - 3) in respect of defined contribution pension schemes.

During the year, the Company granted share options to directors with an aggregate estimated market value of £179,605 (2024: £Nil). No share options were exercised, lapsed, or forfeited by any director during the financial year. At the balance sheet date, no directors held options that had been exercised.

The number of directors who were granted share options during the year was 1 (2024: Nil).

Page 24


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

9.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	269,553	2,494
		269,553	2,494

10.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	97,793	131,325
Other interest payable	665	51,546
	98,458	182,871

Corporation tax
Current tax on profits for the year	420,651	-

Total current tax	420,651	-

Deferred tax
Origination and reversal of timing differences	211,636	(166,098)
Total deferred tax	211,636	(166,098)


	Tax on profit	632,287	(166,098)

Page 25


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

11.Taxation (continued)

Profit on ordinary activities before tax

1,295,983

1,138,287

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	323,996	284,572
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	242,724	144,676
Capital allowances for year in excess of depreciation	50,166	50,532
Adjustments to tax charge in respect of prior periods	-	(3,540)
Non-taxable income less expenses not deductible for tax purposes	(31,511)	-
Other differences leading to an increase (decrease) in the tax charge	(5,502)	-
Marginal relief	(1,314)	-
Relief on employee exercise of share scheme options	-	(642,338)
Deferred tax movement not recognised in prior year	53,728	-
Total tax charge for the year	632,287	(166,098)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 26


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

12.	Exceptional items
		2025	2024
		£	£

Investment related costs	166,881	1,166,269
Staff bonuses paid due to share sale	-	1,637,218
German company set up, legal fees and name purchase	-	7,529
Restructuring costs	301,025	-
Legal and professional costs	78,500	-
Training costs	47,453	-
	593,859	2,811,016

During the year the company incurred exceptional costs comprising restructuring costs, legal and professional fees, investment related costs and staff training costs. These costs are exceptional by nature due to their size and infrequency.

13.	Intangible assets
	Group

		Goodwill
		£
	Cost
	On acquisition of subsidiaries	627,300
	At 30 June 2025	627,300
	Amortisation
	Charge for the year on owned assets	36,682
	At 30 June 2025	36,682
	Net book value
	At 30 June 2025	590,618
	At 30 June 2024	-

Goodwill of £627,300 was recognised during the year following the acquisition of the share capital of AwayDaysYT Ltd on 21 November 2024.
The net assets of the acquired entity at acquisition are not considered material to the group financial statements.

Page 27


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

14.	Tangible fixed assets
	Group

	Long-term leasehold property	Short-term leasehold property	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£	£	£
Cost
At 1 July 2024	3,907,728	-	24,713	1,688,593	341,419	5,962,453
Additions	36,530	604,678	-	376,681	370,618	1,388,507
Disposals	-	-	-	(344,321)	(33,656)	(377,977)
Transfers between classes	(87,464)	87,464	-	-	-	-
At 30 June 2025	3,856,794	692,142	24,713	1,720,953	678,381	6,972,983
Depreciation
At 1 July 2024	943,077	-	18,636	914,849	187,504	2,064,066
Charge for the year on owned assets	191,347	115,513	1,519	255,400	113,989	677,768
Disposals	-	-	-	(240,012)	(32,690)	(272,702)
Transfers between classes	(11,108)	11,108	-	-	-	-
At 30 June 2025	1,123,316	126,621	20,155	930,237	268,803	2,469,132
Net book value
At 30 June 2025	2,733,478	565,521	4,558	790,716	409,578	4,503,851
At 30 June 2024	2,964,651	-	6,077	773,744	153,915	3,898,387

Page 28


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

14.Tangible fixed assets (continued)

	Company

	Long-term leasehold property	Short-term leasehold property	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£	£	£
Cost
At 1 July 2024	3,907,728	-	24,713	1,688,593	341,419	5,962,453
Additions	36,530	158,337	-	262,065	367,577	824,509
Disposals	-	-	-	(344,321)	(33,656)	(377,977)
Transfers between classes	(87,464)	87,464	-	-	-	-
At 30 June 2025	3,856,794	245,801	24,713	1,606,337	675,340	6,408,985
Depreciation
At 1 July 2024	943,077	-	18,636	914,849	187,504	2,064,066
Charge for the year on owned assets	191,347	27,246	1,519	237,063	113,651	570,826
Disposals	-	-	-	(240,012)	(32,690)	(272,702)
Transfers between classes	(11,108)	11,108	-	-	-	-
At 30 June 2025	1,123,316	38,354	20,155	911,900	268,465	2,362,190
Net book value
At 30 June 2025	2,733,478	207,447	4,558	694,437	406,875	4,046,795
At 30 June 2024	2,964,651	-	6,077	773,744	153,915	3,898,387

Page 29


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

15.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost
	At 1 July 2024	21,886
	Additions	660,039
	At 30 June 2025	681,925

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Principal activity	Class of shares	Holding

Classic Football Company (Ireland) Limited	8 Priory Office Park, Stillorgan Road, Blackrock, Dublin, Republic of Ireland	Dormant	Ordinary	100%
Classic Football Company (Netherlands) B V	Joop Geesinkweg 701, 1114AB Amsterdam-Duivendrecht, Netherlands	Dormant	Ordinary	100%
Classic Football Shirts Limited	67 Broadway, Hyde, SK14 4QF, England	Dormant	Ordinary	100%
Classic Football Shops Limited	67 Broadway, Hyde, SK14 4QF, England	Dormant	Ordinary	100%
Fabric of Football Limited	67 Broadway, Hyde, SK14 4QF, England	Dormant	Ordinary	100%
Classic American Sports Limited	67 Broadway, Hyde, SK14 4QF, England	Dormant	Ordinary	100%
Classic Footballshirts (Germany) GmBH	Kurt-Schumacher-Straße 18-20, 53113 Bonn, Germany	Dormant	Ordinary	100%
Classic Football Company (US) Inc.	80 State Street, Albany, NY 12207, United States	The purchase and sale of football shirts	Ordinary	100%
AwayDaysYT Ltd	67 Broadway, Hyde, SK14 4QF, England	Broadcast of football related content	Ordinary	100%

Page 30


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

16.	Stocks
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Finished goods and goods for resale	21,341,174	16,593,141	20,992,953	16,593,141
	21,341,174	16,593,141	20,992,953	16,593,141

The difference between purchase price or production cost of stocks and their replacement cost is not material.

17.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	52,416	109,865	40,224	109,865
Amounts owed by group undertakings	-	-	2,348,404	-
Other debtors	1,971,991	2,624,129	1,405,492	2,624,129
Prepayments and accrued income	510,365	241,905	456,869	241,905
	2,534,772	2,975,899	4,250,989	2,975,899

18.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

	Cash at bank and in hand	9,719,811	10,882,052	8,593,494	10,882,052

Page 31


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

19.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	123,746	101,999	123,746	101,999
Trade creditors	2,962,845	3,376,733	2,886,489	3,376,733
Amounts owed to group undertakings	-	-	21,298	-
Corporation tax	439,401	30,980	433,996	30,980
Other taxation and social security	206,305	116,831	205,577	116,831
Other creditors	678,276	576,689	668,903	576,689
Accruals and deferred income	661,307	279,585	642,305	279,585
	5,071,880	4,482,817	4,982,314	4,482,817

20.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	1,200,671	1,323,854	1,200,671	1,323,854
Other creditors	125,000	-	125,000	-
	1,325,671	1,323,854	1,325,671	1,323,854

Page 32


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

21.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Amounts falling due within one year
Bank loans	123,746	101,999	123,746	101,999
	123,746	101,999	123,746	101,999
Amounts falling due 1-2 years
Bank loans	132,132	110,189	132,132	110,189
	132,132	110,189	132,132	110,189
Amounts falling due 2-5 years
Bank loans	1,068,539	1,213,665	1,068,539	1,213,665
	1,068,539	1,213,665	1,068,539	1,213,665
	1,324,417	1,425,853	1,324,417	1,425,853

The Secured Bank loan of £1,324,417 (2024: £1,425,853) owed at the reporting date is repayable over 15 years and is subject to interest at the rate of 2.34% above Lloyds Bank Base Rate.

Page 33


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

22.	Deferred taxation
	Group

		2025
		£

	At beginning of year	(57,988)
	Charged to profit or loss	(211,636)
	At end of year	(269,624)

	Company

		2025
		£

	At beginning of year	(57,988)
	Charged to profit or loss	(210,909)
	At end of year	(268,897)

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£

Accelerated capital allowances	(298,215)	(233,434)	(297,488)	(233,434)
Unutilised losses	-	63,068	-	63,068
Other timing differences	28,591	112,378	28,591	112,378
	(269,624)	(57,988)	(268,897)	(57,988)

Page 34


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

23.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

10,693,240 (2024 - 11,055,400) Ordinary shares of £0.00001 each	107	111
Nil (2024 - 16,568,884) Preferred Ordinary shares of £0.00001 each	-	166
17,761,301 (2024 - nil) Preferred Ordinary A shares of £0.00001 each	178	-
941,618 (2024 - nil) Preferred Ordinary B shares of £0.00001 each	9	-
3,000 (2024 - 3,000) V shares of £0.00001 each	-	-

	294	277

On 2 July 2024, 814,863 Preferred Ordinary shares of £0.00001 were allotted for £1.8408.

On 16 July 2024, 249,892 Preferred Ordinary shares of £0.00001 were allotted for £1.8408.

On 26 September 2024, 127,662 Preferred Ordinary shares of £0.00001 were allotted for £1.8408.

On 27 December 2024, 579,548 Preferred Ordinary B shares of £0.00001 were allotted for £2.7612.
On the same date, all Preferred Ordinary shares were reclassified to Preferred Ordinary A shares.

On 2 January 2025, 362,160 Ordinary shares of £0.00001 were reclassified as 362,160 Preferred Ordinary B shares of £0.00001.

The Ordinary shares confer full voting rights and in respect of dividends, the right to participate in a distribution with such amount as calculated in accordance with article 4. on a distribution of assets on a liquidation or a return of capital (other than a conversion, redemption or purchase of shares) the ordinary shares shall be entitled to receive the amount calculated in accordance with the formula set out in article 5.1. The Ordinary shares are not redeemable.

The Preferred Ordinary A shares and Preferred Ordinary B shares (the "Preferred Ordinary Shares") confer full voting rights and in respect of dividends, the right to participate in a distribution with such amount as calculated in accordance with Article 4. On a distribution of assets on a liquidation or a return of capital (other than a conversion, redemption or purchase of shares) the Preferred Ordinary shares shall be entitled to receive the amount calculated in accordance with the formula set out in Article 5.1. The Preferred Ordinary shares are not redeemable.

The V shares do not confer voting rights or in respect of dividends, the right to participate in a distribution. On a distribution of assets on a liquidation or a return of capital (other than a conversion, redemption or purchase of shares) the V shares shall be entitled to receive the amount calculated in accordance with the formula set out in article 5.1. The V shares are not redeemable.

Page 35


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

24.

Reserves

Share premium account

The share premium account represents the difference between the proceeds and the nominal value of each share issued.

Share-based payment reserve

The share-based payment reserve represents the fair value of employee share options at the grant date.

Profit and loss account

The profit and loss account includes all current and prior period retained earnings.

25.

Share-based payments

The Company operates a Share Option Scheme for employees (including directors). Each option was granted over a maximum number of shares during the year. At the year end, the maximum number of shares in the option agreements was 2,114,098 with fair value £742,230. A valuation of the option shares was produced at the grant date of the first round of share option grants. No options have expired, been forfeited, or been exercised during the year.

26.	Pension commitments

The Company operates a defined contribution pension scheme. The pension contribution charge for the year represented the contributions payable by the Company to the scheme and amounted to £177,509 (2024: £76,955). The outstanding amount payable at the year end is £43,316 (2024: £22,756).

27.	Commitments under operating leases
	At 30 June 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Not later than 1 year	213,183	224,143	213,183	224,143
Later than 1 year and not later than 5 years	549,585	747,467	549,585	747,467
Later than 5 years	214,014	311,667	214,014	311,667
	976,782	1,283,277	976,782	1,283,277

Page 36


Classic Football Company Limited

Notes to the Financial Statements

For the Year Ended 30 June 2025

28.

Related party transactions

Iceacre Limited, a company operated by one of the Company's directors, provided consultancy services to the Company. They received fees totalling £100,000 (2024: £nil) in the year to 30 June 2025 for services provided.

J B Dale, a close family member of a current Company director, and director during the prior year (resigned 5th March 2024), provided accountancy and administration services to the Company. He received fees totalling £10,257 in the year to 30 June 2025 (2024: £63,036) for services provided.

29.	Controlling party

The ultimate controlling company is TCG 3.0 CFS, LP (file number 3139331 incorporated under the laws of Delaware (USA)).

Page 37