Company registration number 07457691 (England and Wales)
BEYOND RETAIL LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2026
Waverley House
115-119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY
BEYOND RETAIL LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 5
Directors' report
6 - 7
Directors' responsibilities statement
Independent auditor's report
8 - 11
Profit and loss account
12
Statement of comprehensive income
13
Balance sheet
14
Statement of changes in equity
15
Statement of cash flows
16
Notes to the financial statements
17 - 27
BEYOND RETAIL LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr E J Lees-Bell
Miss S Marshallsay
Mr D Lees-Bell
Ms A C Nieuwoudt
Mr J T Younger
Mr F A Myklebust
Company number
07457691
Registered office
447 Commercial Road
Aviation Business Park
Bournemouth International Airport
Christchurch
Dorset
United Kingdom
BH23 6DS
Auditor
TC Group
Waverley House
115-119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY
BEYOND RETAIL LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 MARCH 2026
- 2 -

The D irectors present their strategic report for the 16-month period ended 31 March 2026.

Review of the business

Beyond Retail is a leading online retailer specialising in bathroom, kitchen and heating products, serving the UK market through its core brands: Drench, Tap Warehouse and Toasty (previously Only Radiators). Following a change in the company’s accounting year end, these statutory accounts represent a 16-month period of transition and significant strategic progress.

To provide a meaningful assessment of the company’s trajectory, the Directors have focused their review on the 12-month period ending 31 March 2026 ("FY26") compared to the equivalent 12-month period in the prior year ("FY25"). This comparison reveals a business that has successfully transitioned from a period of market-driven challenges to one of robust growth and renewed profitability.

Operational and Financial Performance

The financial year ending 31 March 2026 was a landmark period for Beyond Retail, characterised by the successful execution of the core strategic initiatives. On a like-for-like 12-month basis, revenue reached £46.3m, representing a 9.2% increase over the previous year. This growth was broad-based, with the Drench brand growing by 10% and the Trade channel delivering an exceptional 26% increase in revenue.

Additionally Beyond Retail has continued to see a substantial improvement in gross profit margin, which rose by 5.1 percentage points to 43.6%. This was achieved through a disciplined focus on:

- Expand Stock & Sourcing:

  - Utilising container bulk ordering to increase the breadth and width of stock levels

  - Expanding own-label product mix through direct sourcing

- Optimised Operations:

  - Achieving logistics optimisation by establishing strategic partnerships with our logistics and delivery service providers

  - Improving operational efficiency through enhanced warehouse processes and stronger supplier relationships

These initiatives culminated in EBITDA of £3.8m for the 12 months to March 2026, a significant turnaround from the £1.6m achieved in the prior 12-month period.

BEYOND RETAIL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 3 -

Strategic Highlights

The past period saw several key strategic initiatives and operational improvements:

- Heating Website Re-Brand: The ‘Only Radiators’ website was completely overhauled and relaunched under the new brand ‘Toasty’. This repositioning, including significant updates to the product range, pricing and content aims for long-term expansion and establishes a confident, contemporary voice, with clear market differentiation.

- In-housing of Marketing Capability: This critical move enhances speed, improves control over data & insights, strengthens accountability and provides the necessary foundation for driving growth, testing new ideas and moving forward with increased confidence.

- Launch of an Outlet store (Poole): This new location enables the efficient sale of returned products not suitable for resale as new; boosts Trade visibility locally; and provides customers with a convenient 'cash and carry' option for affordable, everyday items.

- Continued Website Enhancements: The company delivered multiple improvements across the sites, including a refined homepage, upgraded product pages, improved product cards, a new product comparison tool and enhanced personalisation features.

- Product Range Expansion: The company successfully introduced new product lines, including own-label concrete basins, a full overhaul of the heating category, on-trend furniture ranges and further expansion of mirrors and cabinets.

- Commitment to Excellence: The company maintains its status as a ‘Real Living Wage’ employer; sustained ‘Excellent’ Trustpilot ratings across all three brands; and reinstated its phone lines to offer customers greater choice in how they contact us.

Collectively, these strategic initiatives reinforce Beyond Retail’s commitment to modernising the home improvement shopping experience and enhancing market presence.

Key performance indicators

KPI Apr 25 - Mar 26 Apr 24 - Mar 25

Revenue £46.3 m £42.4 m

Gross margin % 43.6% 3 8.5%

EBITDA £3.8 m £1.6 m

EBITDA margin % 8.1% 3.7%

BEYOND RETAIL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 4 -
Principal risks and uncertainties

While operating in a highly competitive landscape, the company views this environment as a continuous opportunity to sharpen its competitive edge by maintaining a relentless focus on core value drivers: product range, pricing strategy and best-in-class customer service. Proactive risk management is intrinsically linked to enhancing the market proposition.

To manage associated risks, the company continually reviews its trading activities and implements proactive plans, enabling it to react quickly to changes in the external environment. Key focus areas that could impact performance—potentially leading to reduced website traffic, declining sales, or inappropriate stock holdings—include product range, pricing, customer service, stock availability and search engine prominence (e.g. Google).

Risk mitigation is achieved by strengthening both the product and marketing propositions, alongside the introduction of enhanced business intelligence capabilities. Beyond Retail leverages business management software to monitor key performance indicators and operational procedures. It also fosters strong working relationships with key suppliers and aims to provide an excellent working environment, identifying and nurturing talent to empower employees to act in the company’s best interests.

Performance is regularly reviewed by the management team across various key indicators, with regular management accounts presented and working capital requirements monitored.

As the company's sales are predominantly within the United Kingdom, and the majority of purchases are sourced from UK-based companies or outside the European Union, the impacts of Brexit remain limited. The company continues to closely monitor the effects of Brexit to ensure associated risks are mitigated.

Current trading & outlook

The Directors of Beyond Retail are pleased to express a high degree of confidence entering the 2027 financial year, buoyed by the demonstrable success of the strategic plans thus far.

Strong momentum has been witnessed in the initial weeks of FY27, with year-to-date figures tracking at +30%, reinforcing the positive outlook regarding the ambitious revenue targets for the year.

Beyond Retail's core strategic focus for the upcoming period includes:

- Margin Expansion & Operational Efficiency

- Ongoing rollout of the new Toasty brand

- Development of Adjacent Product Categories

- Continued Trade expansion

Beyond Retail now operates on a significantly strengthened operational foundation, thanks to investments in product range, technology, logistics and people over the prior years. This more resilient, scalable and efficient business model positions the company exceptionally well to execute its strategy and achieve sustained, long-term success.

BEYOND RETAIL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 5 -

On behalf of the board

Mr E J Lees-Bell
Director
26 June 2026
BEYOND RETAIL LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2026
- 6 -

The Directors present their annual report and financial statements for the Period ended 31 March 2026.

Results and dividends

The total distribution of dividends for the period ended 3 1 March 202 6 will be £2 47,000.

Directors

The directors who held office during the Period and up to the date of signature of the financial statements were as follows:

Mr E J Lees-Bell
Miss S Marshallsay
Mr D Lees-Bell
Ms A C Nieuwoudt
Mr J T Younger
Mr F A Myklebust
Auditor

In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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.

Strategic report

In accordance with S414C certain matters which are required to be disclosed in the Reports of the Directors have been omitted as they are included in the Strategic Report. These matters relate to the review of the business and financial performance principal risks and uncertainties and future outlook.

BEYOND RETAIL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 7 -
Statement of disclosure to auditor

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.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr E J Lees-Bell
Director
26 June 2026
BEYOND RETAIL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BEYOND RETAIL LIMITED
- 8 -
Opinion

We have audited the financial statements of Beyond Retail Limited (the 'company') for the Period ended 31 March 2026 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 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 Auditor's 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.

BEYOND RETAIL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BEYOND RETAIL LIMITED
- 9 -

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other info rm ation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other info rm ation, 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial Period for which the financial statements are prepared is consistent with the financial statements; and

- the 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 company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report and the directors' r eport. 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, 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 directors' r esponsibilities s tatement, 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 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.

BEYOND RETAIL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BEYOND RETAIL LIMITED
- 10 -
Auditor's 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 auditor's 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

- We obtained an understanding of the legal and regulatory frameworks applicable to the company and the group and the sector in which they operate.

- We obtained an understanding of how the company and the group are complying with those legal and regulatory frameworks by making inquires to the management and we corroborated our inquiries through our review or board reports.

- We assessed the susceptibility of the company and the group's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

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

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

o Challenging assumptions and judgments made by management in its significant accounting estimates;

o Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and

o Assessing the extent of compliance with the relevant law and regulations.

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 occurring 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/auditors responsibilities. This description forms part of our Report of the Auditors.

BEYOND RETAIL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BEYOND RETAIL LIMITED
- 11 -

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 auditor's 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.

Ian Rodd BSC FCA FCCA (Senior Statutory Auditor)
For and on behalf of TC Group
Statutory Auditor
30 June 2026
Office: Bournemouth
BEYOND RETAIL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 MARCH 2026
- 12 -
Period
Year
ended
ended
31 March
30 November
2026
2024
Notes
£' 000s
£' 000s
Turnover
3
59,002
42,570
Cost of sales
(33,564)
(27,031)
Gross profit
25,438
15,539
Administrative expenses
(22,481)
(16,020)
Operating profit/(loss)
4
2,957
(481)
Interest receivable and similar income
7
307
201
Profit/(loss) before taxation
3,264
(280)
Tax on profit/(loss)
8
(819)
86
Profit/(loss) for the financial Period
2,445
(194)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

BEYOND RETAIL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 MARCH 2026
- 13 -
Period
Year
ended
ended
31 March
30 November
2026
2024
£' 000s
£' 000s
Profit/(loss) for the Period
2,445
(194)
Other comprehensive income
-
-
Total comprehensive income for the Period
2,445
(194)
BEYOND RETAIL LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 14 -
31 March 2026
30 November 2024
Notes
£' 000s
£' 000s
£' 000s
£' 000s
Fixed assets
Intangible assets
10
2,428
2,113
Tangible assets
11
999
1,002
3,427
3,115
Current assets
Stocks
12
6,584
5,229
Debtors
13
1,956
1,447
Cash at bank and in hand
6,896
6,475
15,436
13,151
Creditors: amounts falling due within one year
14
(6,119)
(5,967)
Net current assets
9,317
7,184
Total assets less current liabilities
12,744
10,299
Provisions for liabilities
Deferred tax liability
15
708
461
(708)
(461)
Net assets
12,036
9,838
Capital and reserves
Called up share capital
17
-
0
-
0
Profit and loss reserves
12,036
9,838
Total equity
12,036
9,838

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 26 June 2026 and are signed on its behalf by:
Mr E J Lees-Bell
Director
Company registration number 07457691 (England and Wales)
BEYOND RETAIL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2026
- 15 -
Share capital
Profit and loss reserves
Total
Notes
£' 000s
£' 000s
£' 000s
Balance at 1 December 2023
-
0
10,298
10,298
Year ended 30 November 2024:
Loss and total comprehensive income
-
(194)
(194)
Dividends
9
-
(266)
(266)
Balance at 30 November 2024
-
0
9,838
9,838
Period ended 31 March 2026:
Profit and total comprehensive income
-
2,445
2,445
Dividends
9
-
(247)
(247)
Balance at 31 March 2026
-
0
12,036
12,036

The notes on pages 17 to 27 form part of these financial statements.

BEYOND RETAIL LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 MARCH 2026
- 16 -
2026
2024
Notes
£' 000s
£' 000s
£' 000s
£' 000s
Cash flows from operating activities
Cash generated from operations
20
2,095
586
Income taxes paid
(1)
(244)
Net cash inflow from operating activities
2,094
342
Investing activities
Purchase of intangible assets
(1,350)
(968)
Purchase of tangible fixed assets
(252)
(821)
Proceeds from disposal of tangible fixed assets
1
62
Interest received
307
201
Net cash used in investing activities
(1,294)
(1,526)
Financing activities
Repayment of borrowings
(132)
65
Dividends paid
(247)
(201)
Net cash used in financing activities
(379)
(136)
Net increase/(decrease) in cash and cash equivalents
421
(1,320)
Cash and cash equivalents at beginning of Period
6,475
7,795
Cash and cash equivalents at end of Period
6,896
6,475

The notes on pages 17 to 27 form part of these financial statements.

BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
- 17 -
1
Accounting policies
Statutory information

B eyond Retail 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 Info rmat ion page.

1.1
Reporting period

The company made the decision to change its year end to 31 March, this was to better reflect the seasonality of the business and move year-end away from a peak trading period.

Due to this change the comparatives presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

1.3
Turnover

Revenue for the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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

1.4
Intangible fixed assets other than goodwill

Intangible fixed assets are amortised at rates calculated to write off the assets on a straight basis over their useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Amortisation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Computer software
33% Straight Line
Trademarks and Domain
10% Straight Line
Web development & imagery costs
20% Straight Line
BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 18 -
1.5
Tangible fixed assets

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:

Long Leasehold
6.67% Straight Line/20% Straight Line
Plant & Machinery
20% Straight line
Fixtures and fittings
16.67% Straight Line/10% Straight line
Office Equipment
33% Straight line
Motor vehicles
25% Reducing balance
1.6
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

1.8
Financial instruments

Financial instruments are recognised 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 leave the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other 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 financial asset is measured at the present value of the future receipts discounted at at market rate of interest.

Classification of financial liabilities

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

B asic financial liabilities, including trade and other 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.

BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 19 -
1.9
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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 year end and that are expected to apply to the reversal of the timing difference.

1.10
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.

1.11
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,

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, which are described below, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

There are no areas that require significant judgements from management.

The most significant estimates made by management, which are based on their own experience, are for the useful life of tangible and intangible fixed assets. The carrying value of fixed assets at 31 March 2026 is £3.43 m (30 November 202 4: £3.12 m).

BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 20 -
3
Turnover
2026
2024
£' 000s
£' 000s
Turnover analysed by geographical market
United Kingdom
58,848
42,448
Europe
129
91
Rest of the world
25
31
59,002
42,570
4
Operating profit/(loss)
2026
2024
Operating profit/(loss) for the period is stated after charging/(crediting):
£' 000s
£' 000s
Exchange (gains)/losses
(2)
9
Fees payable to the company's auditor for the audit of the company's financial statements
18
17
Depreciation of owned tangible fixed assets
256
145
Loss on disposal of tangible fixed assets
3
31
Amortisation of intangible assets
1,113
731
Operating lease charges
929
791
5
Employees

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

2026
2024
Number
Number
Employees
144
150

Their aggregate remuneration comprised:

2026
2024
£' 000s
£' 000s
Wages and salaries
6,897
5,058
Social security costs
796
477
Pension costs
245
188
7,938
5,723
BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 21 -
6
Directors' remuneration
2026
2024
£' 000s
£' 000s
Remuneration for qualifying services
521
371
Company pension contributions to money purchase schemes
26
18
547
389

The number of directors for whom retirement benefits are accruing under money purchase schemes amounted to 5 (2024 - 5).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2026
2024
£' 000s
£' 000s
Remuneration for qualifying services
207
148
Company pension contributions to money purchase schemes
10
7
7
Interest receivable and similar income
2026
2024
£' 000s
£' 000s
Interest income
Interest on bank deposits
307
201
2026
2024
Investment income includes the following:
£' 000s
£' 000s
Interest on financial assets not measured at fair value through profit or loss
307
201
8
Taxation
2026
2024
£' 000s
£' 000s
Current tax
UK corporation tax on profits for the current period
571
-
0
BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
8
Taxation
2026
2024
£' 000s
£' 000s
(Continued)
- 22 -
Deferred tax
Origination and reversal of timing differences
248
(86)
Total tax charge/(credit)
819
(86)

The actual charge/(credit) for the Period can be reconciled to the expected charge/(credit) for the Period based on the profit or loss and the standard rate of tax as follows:

2026
2024
£' 000s
£' 000s
Profit/(loss) before taxation
3,264
(280)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
816
(70)
Tax effect of expenses that are not deductible in determining taxable profit
1
10
Capital allowances in excess of depreciation
3
1
Prior year deferred tax
(1)
(27)
Taxation charge/(credit) for the period
819
(86)
9
Dividends
2026
2024
2026
2024
Per share
Per share
Total
Total
£' 000s
£' 000s
£' 000s
£' 000s
Ordinary A
Interim paid
1.24
1.33
124
133
Ordinary B
Interim paid
1.54
1.66
123
133
Total dividends
Interim paid
247
266
BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 23 -
10
Intangible fixed assets
Computer software
Trademarks and Domain
Web development & imagery costs
Total
£' 000s
£' 000s
£' 000s
£' 000s
Cost
At 1 December 2024
101
18
4,742
4,861
Additions
64
19
1,345
1,428
At 31 March 2026
165
37
6,087
6,289
Amortisation and impairment
At 1 December 2024
39
13
2,696
2,748
Amortisation charged for the Period
58
4
1,051
1,113
At 31 March 2026
97
17
3,747
3,861
Carrying amount
At 31 March 2026
68
20
2,340
2,428
At 30 November 2024
62
5
2,046
2,113
BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 24 -
11
Tangible fixed assets
Leasehold land and buildings
Plant and machinery
Fixtures and fittings
Office equipment
Motor vehicles
Total
£' 000s
£' 000s
£' 000s
£' 000s
£' 000s
£' 000s
Cost
At 1 December 2024
43
191
903
213
23
1,373
Additions
-
0
34
158
50
15
257
Disposals
-
0
-
0
-
0
-
0
(8)
(8)
At 31 March 2026
43
225
1,061
263
30
1,622
Depreciation and impairment
At 1 December 2024
3
89
119
153
7
371
Depreciation charged in the Period
4
35
164
45
8
256
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(4)
(4)
At 31 March 2026
7
124
283
198
11
623
Carrying amount
At 31 March 2026
36
101
778
65
19
999
At 30 November 2024
40
102
784
60
16
1,002
12
Stocks
2026
2024
£' 000s
£' 000s
Finished goods and goods for resale
6,584
5,229
13
Debtors
2026
2024
Amounts falling due within one year:
£' 000s
£' 000s
Trade debtors
387
280
Amounts owed by group undertakings
2
2
Other debtors
420
359
Prepayments and accrued income
1,147
806
1,956
1,447
BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 25 -
14
Creditors: amounts falling due within one year
2026
2024
Notes
£' 000s
£' 000s
Trade creditors
2,930
3,573
Corporation tax
571
-
0
Other taxation and social security
238
637
Deferred income
987
739
Other creditors
257
290
Accruals and deferred income
1,136
728
6,119
5,967
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2026
2024
Balances:
£' 000s
£' 000s
Deferred tax
708
461
2026
Movements in the Period:
£' 000s
Liability at 1 December 2024
461
Charge to profit or loss
247
Liability at 31 March 2026
708
16
Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions paid during the period amounted to £244 k (202 4: £189 k). A balance of £3 5 k was outstanding at the year end (202 4: £30 k).

BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 26 -
17
Share capital
2026
2024
2026
2024
Ordinary share capital
Number
Number
£
£
Ordinary A of 1p each
100
100
1
1
Ordinary B of 1p each
80
80
0.80
0.80
Ordinary C of 1p each
20
20
0.20
0.20
200
200
2
2

All shares rank pari passu save that the directors may determine in their absolute discretion different dividends on different share classes.

18
Leasing Agreements

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

2026
2024
£' 000s
£' 000s
Within one year
808
748
Between two and five years
2,165
2,447
In over five years
3,143
3,647
6,116
6,842
19
Related party transactions

Both Mr D Lees-Bell and M r E.J Lees-Bell are directors of Island Bathrooms Limited. During the period the company made purchases of <£1k (202 4: <£1k) and sales of £375 k (202 4: £208 k) with Island Bathrooms Limited. At the period end £22k (202 4 : £22 k) was included in debtors.

Included within creditors is balance of £3 k (202 4: £69k) owed by the company to the director, Mr E J Lees-Bell.

Included within creditors is a balance of £1 k (202 4: £67 k) owed by the company to the director, Ms S A Marshallsay.

Key management personnel are considered to be the directors. Their remuneration is disclosed in note 6.

BEYOND RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 27 -
20
Cash generated from operations
2026
2024
£' 000s
£' 000s
Profit/(loss) for the Period after tax
2,445
(194)
Adjustments for:
Taxation charged/(credited)
819
(86)
Investment income
(307)
(201)
Loss on disposal of tangible fixed assets
3
31
Amortisation and impairment of intangible assets
1,113
731
Depreciation and impairment of tangible fixed assets
256
145
Movements in working capital:
Increase in stocks
(1,355)
(190)
(Increase)/decrease in debtors
(509)
503
Decrease in creditors
(370)
(153)
Cash generated from operations
2,095
586
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