REGISTERED NUMBER: 03496955 (England and Wales)

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31 January 2026

for

J & J Wilson (Shops) Limited

Page

Company Information

1

Strategic Report

2

Directors' Report

4

Report of the Independent Auditors

7

Statement of Income and Retained Earnings

11

Balance Sheet

12

Notes to the Financial Statements

13

Directors:

Mrs V M Johnstone

Mr S Lloyd

Mrs D K Lloyd

Mr D Lloyd

Secretary:

Mrs S Smith

Registered office:

Driftwood Lodge

36A Old Hunstanton Road

Hunstanton

Norfolk

PE36 6HS

Registered number:

03496955 (England and Wales)

Auditors:

Stephenson Smart (East Anglia) Limited

Chartered Accountants & Statutory Auditors

22-26 King Street

King's Lynn

Norfolk

PE30 1HJ

Bankers:

Santander

Bridle Road

Bootle

Merseyside

L30 4GB

The directors present their strategic report for the year ended 31 January 2026.

Principal activities

The principal activity of the company during the year was in the management of concessionary outlets at holiday parks.

Review of business

The directors consider the profit achieved on ordinary activities before taxation and the state of the company's affairs to be above satisfactory.

Turnover has increased by £838,637 (2.52%), which is believed to be as a result of good weather over the whole summer. Turnover variances are a product of site popularity, which in turn relies on the attractiveness of the area to tourist both from the UK and abroad, which can vary considerably annually. Inflationary increases have impacted turnover during the year, as they have across the retail sector as a whole. Turnover growth on a shop by shop basis varies.

Margins remain fairly constant, with total cost of sales increasing by 2.46%, with gross profit percentage increasing slightly. Gross profit rose to 12.64% from 12.59% in the prior year. Staff costs have increased during the year due to increases in the national minimum wage. However, management continue to control costs as far as possible and gross profit percentage has remained reasonable given the economic environment.

In conclusion, a good year aided by the effects weather has had on sales growth, and strong cost controls illustrating managements continued support to grow and improve the company's performance whilst maintaining affordability and service to customers.

The results of the company for the year are set out in the profit and loss account on page 11 of the financial statements. The company balance sheet remains strong with shareholders' funds exceeding £6.1 million.

Principal risks and uncertainties

An outline of risks facing the company is considered in the directors report. In common with other businesses in this sector, the most significant risks and uncertainties faced by the company include margins and profitability. The popularity of the UK holiday market as a whole remains a risk also. The directors believe the company has sufficient strength, with a strong balance sheet, to be able to continue to trade successfully in future years.

Key performance indicators

The company uses a range of performance measures to monitor and manage the business effectively. The key financial performance indicators and their comparatives are as follows:

31.1.26

31.1.25

Gross profit margin

12.64%

12.59%

Net operating margin

3.68%

2.45%

EBITDA

£1,431,199

£878,508

The directors consider turnover and gross profit margin to be the key performance indicators of the business. Gross profit and net operating margins are closely monitored internally not only across the company but on an outlet by outlet basis also to ensure performance is maximised.

Future developments

Details of future developments can be found within the Directors' Report.

On behalf of the board:

Mr S Lloyd - Director

22 May 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

Principal activity

The principal activity of the company in the year under review was that of management of concessionary outlets at holiday parks.

Dividends

The total distribution of dividends for the year ended 31 January 2026 will be £ 502,502 .

Future developments

The company is looking to maintain the growth on sales during the coming year. The directors are continually assessing new sites for potential expansion into new areas to build on the growth of the company over the last few years.

Results

The profit for the year, after taxation, amounted to £948,950 (2025 - £601,232).

Directors

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

Mrs V M Johnstone

Mr S Lloyd

Mrs D K Lloyd

Mr D Lloyd

Other changes in directors holding office are as follows:

Mr G Johnstone - resigned 23 July 2025

Financial instruments and financial risk management

The company uses various financial instruments including loans and cash, and items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The company does not usually use derivative financial instruments to hedge risk as they are not deemed to be significant.

The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below. The main risks arising from the company's financial instruments are liquidity risk and interest rate risk. The directors review and agree policies for managing each of these risks and they are summarised below. These policies have remained unchanged from previous years.

Liquidity risk

The company manages it liquidity risk via short term borrowings which are utilised to meet day to day obligations as and when required. In recent years cash flow has been strong and therefore borrowings have been minimal. Due to the seasonal nature of the industry cash flows vary greatly through out the year. As the directors have little control over the flow of incoming cash flows, outgoings are carefully monitored. In addition to this, inter-group lending of cash takes places to minimise the interest costs of short term bank borrowings and to ensure that the company has sufficient liquid resources to meet its operating needs.

Interest rate risk

The company is exposed to cash flow interest rate risk on overdrafts which will fluctuate based upon the banks base rate. The directors review interest rates at regular intervals to ensure that interest rates being paid are reasonable in the context of the market. Interest income is not material to the business and therefore poses no risks.

Credit risk

The company is exposed to minimal credit risk as it is common place within the industry that customers are not provided with credit terms. Any investments of cash surpluses are made through banks.

Engagement with employees

The company operates an equal opportunities employment policy and is opposed to all forms of discrimination. The selection processes are non-discriminatory and always seek to give full and fair consideration to those with disabilities for all vacancies, taking into account their aptitudes and skills.

In the event of employees becoming disabled, every effort is made to ensure their employment with the company continues and appropriate training arranged. So far as possible the company ensures that the training, career development and promotion of any disabled person is identical to that of a colleague who does not suffer from such a disability.

Regular meetings are held between local management and employees to allow a free flow of information and ideas. J & J Wilson (Shops) Limited coordinate an annual conference whereby all management staff from locations across the country have the opportunity to discuss the business and voice any opinions, along with receiving further training and industry updates.

Disclosure in the strategic report

In accordance with The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, the review of the development and performance of the business, including key performance indicators, is contained in the Strategic Report.

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' 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), 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board:

Mr S Lloyd - Director

22 May 2026

Opinion

We have audited the financial statements of J & J Wilson (Shops) Limited (the 'company') for the year ended 31 January 2026 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

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

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the 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 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 identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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

Discussions with and enquiries of management and those charged with governance were held with a view to identify those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the group and parent company.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include the UK financial reporting standards, Company Law, Taxation and Pension legislation and distributable profits legislation.

- Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the

business and therefore may have a material effect on the financial statements include but are not limited to; health and safety legislation; trade descriptions act and employment regulation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which includes fraud and non-compliance with laws and regulations) comprised of: Inquiries of management and those charged with governance as to whether the group and parent company complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriate of journal entries; and the performance of of analytical review to identify unexpected movement in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the group and parent company's control and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than those irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements might not be detected, even though the audit has been planned and performed in accordance with the ISAs (UK).

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Goad BFP FCA (Senior Statutory Auditor)

for and on behalf of Stephenson Smart (East Anglia) Limited

Chartered Accountants & Statutory Auditors

22-26 King Street

King's Lynn

Norfolk

PE30 1HJ

22 May 2026

Turnover

4

34,117,845

33,279,208

Cost of sales

(29,805,175

)

(29,088,706

)

Gross profit

4,312,670

4,190,502

Administrative expenses

(3,075,973

)

(3,503,185

)

1,236,697

687,317

Other operating income

5

20,097

33,092

Operating profit

8

1,256,794

720,409

Interest receivable and similar income

10

75,583

93,779

1,332,377

814,188

Interest payable and similar expenses

11

(47,304

)

-

Profit before taxation

1,285,073

814,188

Tax on profit

12

(336,123

)

(212,956

)

Profit for the financial year

948,950

601,232

Retained earnings at beginning of year

5,717,671

5,601,148

Dividends

13

(502,502

)

(484,709

)

Retained earnings at end of year

6,164,119

5,717,671

Fixed assets

Intangible assets

14

-

-

Tangible assets

15

3,089,016

1,737,136

Investments

16

44,270

44,270

3,133,286

1,781,406

Current assets

Stocks

17

2,195,938

1,947,119

Debtors

18

968,290

965,544

Cash at bank and in hand

1,960,838

1,689,597

5,125,066

4,602,260

Creditors

Amounts falling due within one year

19

(714,636

)

(486,031

)

Net current assets

4,410,430

4,116,229

Total assets less current liabilities

7,543,716

5,897,635

Creditors

Amounts falling due after more than one year

20

(1,180,967

)

-

Provisions for liabilities

24

(198,600

)

(179,934

)

Net assets

6,164,149

5,717,701

Capital and reserves

Called up share capital

25

30

30

Retained earnings

26

6,164,119

5,717,671

Shareholders' funds

6,164,149

5,717,701

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

Mr S Lloyd - Director

1.	Statutory information

J & J Wilson (Shops) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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

3.	Accounting policies

Basis of preparing the financial statements

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

These individual financial statements have been prepared on a going concern basis. All accounting policies have been applied consistently.

The financial statements are prepared in sterling, which is the functional currency of the entity. Figures are rounded to the nearest whole pound sterling.

Going concern

The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore prepared these financial statements on a going concern basis.

Liquid resources

The company classifies liquid resources as debtors and cash at bank and in hand less creditors due within one year which it attempts to maintain at a level such that working capital can be used effectively.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirement of paragraph 33.7.

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of L & J Leisure Limited, which can be obtained from 4th Floor 115 George Street, Edinburgh, EH2 4JN.

Preparation of consolidated financial statements

The financial statements contain information about J & J Wilson (Shops) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, L & J Leisure Limited, 4th Floor 115 George Street, Edinburgh, EH2 4JN.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See note 15 for the carrying amount of tangible assets and note 3 for the useful economic lives for each class of assets.

(ii) Taxation

The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority. See note 24 for the disclosures relating to the deferred tax provision.

(iii) Prepayments

The company recognises prepayments in respect of expenditure incurred before the balance sheet date but which relates to future accounting periods. Prepayments are estimated by apportioning over the period to which the related goods or services are expected to be received. Judgement is also exercised over whether a prepayment provides a future economic benefit or should be immediately expensed. See note 18 for the disclosures relating to prepayments.

(iiii) Accrued income

The company recognises accrued income where income has been earned but not yet invoiced at the balance sheet date. This requires management to exercise judgement in determining the timing of revenue recognition, such as in advance of invoicing or regarding contractual terms. Estimation is also conducted on the valuation of income to be accrued where this is yet to be confirmed at the reporting date. In relation to the cash rebates due from suppliers for purchases made during the year, significant experience is utilised alongside purchasing figures and agreements to make an informed judgement. See note 18 for the disclosures relating to accrued income.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.

Turnover from shop sales is recognised at the point at which the goods are provided.

Revenue from the sale of goods in the shops is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, which is at the point of sale, whereby the amount of revenue can be measured reliably, and it is probable that the associated economic benefits will flow to the entity, and the costs incurred in respect of the transactions can be measured reliably.

Goodwill

Goodwill is deemed to have a useful economic life of 4 years, and as such is amortised over this period.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

2% on cost

Long leasehold

-

12-25 years straight line basis

Fixtures and fittings

-

Straight line over 10 years

Motor vehicles

-

25% p.a. reducing balance

Computer equipment

-

3-10 years straight line basis

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Other investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

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

slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.

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

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Operating lease income

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

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.

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.

4.

Turnover

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.1.26

31.1.25

£

£

Sale of goods

34,117,845

33,279,208

34,117,845

33,279,208

An analysis of turnover by geographical market is given below:

31.1.26

31.1.25

£

£

United Kingdom

34,117,845

33,279,208

34,117,845

33,279,208

5.	Other operating income

31.1.26

31.1.25

£

£

Rents received

8,000

28,000

Sundry receipts

12,097

5,092

20,097

33,092

6.	Employees and directors

31.1.26

31.1.25

£

£

Wages and salaries

6,195,345

5,961,794

Social security costs

651,807

472,719

Other pension costs

307,220

164,866

7,154,372

6,599,379

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

31.1.26

31.1.25

Management staff

27

27

Shop staff

290

284

317

311

7.	Directors' emoluments

31.1.26

31.1.25

£

£

Remuneration

60,184

65,270

Company contributions to pensions

53,301

26,601

180,963

91,871

The number of directors who accrued benefits under company pension plans totalled 1 (2025 - 2).

The pension contributions paid to directors in excess of their entitlement during the year was £40,000 (2025 - £Nil).

8.	Operating profit

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

31.1.26

31.1.25

£

£

Hire of plant and machinery

51,287

69,680

Depreciation - owned assets

175,423

158,099

(Profit)/loss on disposal of fixed assets

(4,140

)

11,397

Depreciation of tangible fixed assets is included within administrative expenses.

9.	Auditors' remuneration

31.1.26

31.1.25

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

12,000

10,000

10.

Interest receivable and similar income

31.1.26

31.1.25

£

£

Deposit account interest

61,508

77,401

Other interest receivable

14,075

16,378

75,583

93,779

Interest receivable is derived from financial assets measured at amortised cost.

11.

Interest payable and similar expenses

31.1.26

31.1.25

£

£

Bank loan interest

47,304

-

Interest payable is derived from financial liabilities measured at amortised cost.

12.

Taxation

Analysis of the tax charge

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

31.1.26

31.1.25

£

£

Current tax:

UK corporation tax

317,457

223,104

Deferred tax

18,666

(10,148

)

Tax on profit

336,123

212,956

Reconciliation of total tax charge included in profit and loss

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

31.1.26

31.1.25

£

£

Profit before tax

1,285,073

814,188

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

321,268

203,547

Effects of:

Expenses not deductible for tax purposes

3,472

2,687

Depreciation in excess of capital allowances

12,196

7,535

Lease premium allowance

(813

)

(813

)

Brooke

Total tax charge

336,123

212,956

Factors that may affect future tax expense

The Finance Bill 2021, published on 11 March 2021, announced that from 1 April 2023, the Corporation Tax main rate for non-ring fenced profits will be increased to 25%, applying to profits over £250,000. Deferred taxes at the balance sheet date have been calculated at 25% due to the new rates having enacted.