REGISTERED NUMBER: 00849428 (England and Wales)

BRIDGE END LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

9

Report of the Independent Auditors

11

Income Statement

15

Other Comprehensive Income

16

Balance Sheet

17

Statement of Changes in Equity

18

Cash Flow Statement

19

Notes to the Cash Flow Statement

20

Notes to the Financial Statements

22

DIRECTORS:

Mrs L S Brown

Mr H S Brown

SECRETARY:

Mrs L S Brown

REGISTERED OFFICE:

Oversley Mill Services

Alcester By-Pass

Alcester

Warwickshire

B49 6PQ

REGISTERED NUMBER:

00849428 (England and Wales)

AUDITORS:

FWC Advisory Ltd

29 Wood Street

Stratford-Upon-Avon

Warwickshire

CV37 6JG

The directors present their strategic report for the year ended 30 September 2025.

REVIEW OF BUSINESS

The company operates two BP-branded forecourt and convenience retail sites at Oversley Mill and Washford. As a family-owned business, the company serves its local communities with a focus on reliability, personalised customer service and high operational standards.

The year was one of significant investment and transition for the company. The Oversley Mill site remained closed for redevelopment for the majority of the financial year, reopening in June 2025. This resulted in a reduction in overall turnover and profitability compared with the previous year. However, the directors consider the redevelopment to be an important long-term investment that has materially improved the site's retail, fuel and food-to-go offering.

The redevelopment included a substantially enlarged retail store, upgraded forecourt and customer facilities, improved site access, a new food and drink offering, and the construction of a Costa Coffee drive-through unit. The Oversley Mill store now operates under the company's Browns Food Stores brand and incorporates the Browns Kitchen bakery concept, together with a new drinks bar and a wider range of convenience and food-to-go products.

Oversley Mill reopened in June 2025 and remained fully operational for the remainder of the financial year. Initial performance following reopening has been positive across fuel volumes, shop sales, customer numbers, average basket spend and food-to-go sales. The directors expect performance to develop further as the site becomes established and progresses through its first two full years of trading following redevelopment.

The Costa Coffee drive-through opened in September 2025. Rental income commenced after the financial year-end following the agreed initial rent-free period. The unit is expected to enhance the overall customer offering, increase traffic to the site and provide the company with a stable long-term rental income stream.

The Washford site remained operational throughout the year and continued to deliver a strong performance. Fuel volumes remained robust, supported by a competitive pricing strategy, while the convenience retail operation benefited from a renewed management focus and significant investment in the store.

In March 2025, the Washford store was refitted and transferred to Nisa as its principal shop supplier. The investment included a new store layout, replacement refrigeration equipment and a new point-of-sale system. Weekly shop sales increased from approximately £22,000 to approximately £24,000 and continued to demonstrate positive momentum at the year-end.

The company remains committed to providing high-quality service within a safe and well-managed environment. Employees receive appropriate training in areas including fuel handling, health and safety, food hygiene and environmental standards. There were no significant health and safety incidents, environmental incidents, major equipment failures or periods of unplanned closure during the year.

PRINCIPAL RISKS AND UNCERTAINTIES

Principal risks and uncertainties

The directors regularly review the principal risks and uncertainties facing the company and take appropriate steps to mitigate their potential effect.

Fuel prices and margins

Movements in global oil markets and wholesale fuel prices can affect retail pricing, customer demand, working capital requirements and achieved margins. The company manages this risk by monitoring local and national market conditions, maintaining a close relationship with BP and regularly reviewing its pricing strategy.

The company may accept a lower margin for limited periods to maintain a competitive position and protect fuel volumes. The directors assess performance over a longer period, recognising that margins generally fluctuate and may recover following periods of compression.

Economic conditions and consumer spending

Inflationary pressures and the wider cost-of-living environment continue to affect consumer behaviour. Customers remain price-conscious and may seek lower-cost alternatives or reduce discretionary spending.

The company responds by reviewing its product ranges, promotional activity and pricing. Its relationships with established suppliers, including Nisa, provide access to a broad range of products and recognised promotional offers. The directors also seek to provide a balanced range of value, premium and locally sourced products.

Borrowing and interest rates

The redevelopment of Oversley Mill was partly funded through a development loan from Lloyds Bank. This has increased the company's level of borrowing, interest expense and scheduled repayment commitments.

The funding was arranged at rates considered favourable by the directors and the associated costs were incorporated into the company's forecasts. Actual costs and performance have remained in line with projections. The directors regularly monitor cash flow, banking covenants and the company's ability to meet its obligations as they fall due.

Wage and employment costs

The business operates in a labour-intensive sector and is exposed to increases in the National Minimum Wage, National Living Wage, employer's National Insurance contributions and other employment-related costs.

The company seeks to mitigate these pressures through effective scheduling, employee training, improved systems and increased operational efficiency, while maintaining appropriate staffing levels and customer service standards.

Competition

The company competes with national supermarket operators, other branded forecourts, independent convenience retailers and food-to-go businesses.

This risk is managed through competitive fuel pricing, investment in store standards, differentiated food and drink offers, personalised customer service and engagement with the local community. The redeveloped Oversley Mill site and the Washford store refit have strengthened the company's competitive position.

Supply chain disruption

The company relies on third-party suppliers for fuel, convenience goods, food products and other essential services. Disruption could result in reduced availability, increased costs or an inability to meet customer demand.

The company maintains relationships with established suppliers and monitors stock levels for important and high-demand products. The company's fuel supply arrangement with BP provides access to a robust nationwide distribution network.

Oversley Mill also benefits from its designation as a priority site due to its strategic location. In the event of widespread fuel supply disruption, this status is expected to provide preferential access to fuel deliveries and support continuity of supply.

Information technology and cybersecurity

The company's operations are increasingly dependent on point-of-sale, payment, stock-control and communications systems. System failure, cyberattack or loss of data could disrupt trading and result in financial or reputational damage.

The company maintains appropriate data protection, cybersecurity, system backup and business continuity procedures. The introduction of a common point-of-sale system across the business also provides improved oversight and control.

Regulatory and environmental compliance

The company is subject to regulations covering fuel storage and handling, health and safety, food hygiene, employment, data protection and environmental matters. Failure to comply could result in financial penalties, disruption or reputational damage.

The directors monitor regulatory developments and ensure that employees receive appropriate training. The Oversley Mill redevelopment was designed and completed with current regulatory and environmental requirements in mind, reducing the likelihood of significant additional capital expenditure in the immediate future.

PERFORMANCE HIGHLIGHTS

Financial performance

Overall turnover decreased from £17,844,476 in the previous year to £12,825,037 in the current year. Gross profit also fell from £1,857,148 to £874,121, while operating profit decreased from £696,012 to an operating loss £130,581. This was principally due to the closure of Oversley Mill for the majority of the period while the redevelopment was completed.

The financial results were also affected by costs associated with the redevelopment, including professional fees and temporary operating expenses. The company retained its existing employees during the closure period, resulting in higher staff costs without the corresponding level of income from the site. The directors considered retaining the workforce to be important in ensuring continuity, preserving operational knowledge and enabling the site to reopen successfully.

The redevelopment was financed in part through a new development loan of £4,764,131 provided by Lloyds Bank. Consequently, the Company's borrowings increased and finance costs rose from £38,065 in the previous year to £196,659. However, the associated interest and repayment obligations were anticipated within the company's forecasts, and performance remained in line with the directors' financial projections.

The project experienced delays and a modest overspend, principally as a result of project management delays. Notwithstanding this, the directors consider that the completed development provides the company with a stronger operational platform and the capacity to generate sustainable long-term growth.

Fuel sales

Fuel sales remained an important part of the company's activities during the year.

At Washford, fuel volumes remained strong. The company continued to maintain competitive pricing in response to competition from a nearby Tesco forecourt. Although this approach can result in reduced margins during certain periods, fuel margins tend to recover over time and the directors consider that the strategy achieves an appropriate balance between volume, customer retention and profitability over the full financial period.

Oversley Mill traded for only part of the year following its reopening in June 2025. Initial fuel volumes were positive and in line with the directors' expectations for the early stages of the redeveloped site. Improved access, upgraded infrastructure and a more attractive customer environment are expected to support further volume growth over the next two financial years.

Fuel price volatility continues to affect reported revenue, as changes in the average selling price can result in movements in turnover that do not directly reflect changes in fuel volumes or profitability. The directors therefore consider both litres sold and achieved margin when assessing fuel performance.

Convenience retail and food-to-go

Convenience retail was one of the company's principal areas of growth during the year.

The Washford store benefited from its refit, revised layout, new refrigeration equipment, new point-of-sale system and transfer to Nisa as its principal shop supplier. These changes improved the product range, store presentation, stock management and customer experience.

The redeveloped Oversley Mill store introduced a broader and more distinctive retail offer. This includes the company's Browns Food Stores brand, the Browns Kitchen bakery, a drinks bar, expanded food-to-go ranges and additional concessions. Early sales performance has been positive, although the site had traded for only a limited period by the financial year-end.

The directors intend to continue developing non-fuel income to reduce the company's reliance on fuel sales and margins. Areas of focus include food-to-go, bakery products, convenience retail, concessions and rental income.

The BP loyalty programme remains well supported across the company's sites and continues to assist with customer retention and repeat visits.

Operational developments

A new point-of-sale system was introduced across the business during the year. The system provides improved stock control, ordering information and management reporting. The directors expect the system to support better availability, reduce stock losses and enable more informed purchasing decisions.

Employee numbers increased following the reopening and expansion of Oversley Mill, reflecting the additional staffing requirements of the larger retail store and broader customer offering. The company did not experience any significant recruitment, retention, training or staffing difficulties during the period.

Solar panels were installed across the roof of the redeveloped Oversley Mill store. The system has performed well and is expected to generate approximately 30% of the site's annual electricity requirements over a full year, with a higher proportion being generated during the summer months. This investment reduces reliance on electricity purchased from the national grid, supports the company's environmental objectives and is expected to reduce energy costs over the longer term.

STRATEGIC DEVELOPMENTS

Future developments and outlook

The directors are optimistic about the company's prospects for the next financial year.

The principal objective will be to deliver a successful first full year of trading from the redeveloped Oversley Mill site. The company will focus on developing fuel volumes, convenience retail sales, food-to-go performance and average customer spend while stabilising operating costs and improving profitability.

At Washford, the directors intend to build on the progress achieved following the March 2025 refit and the introduction of the Nisa supply arrangement. Continued attention will be given to store standards, product availability, stock control, fuel competitiveness and retail sales growth.

The directors expect Oversley Mill to deliver measured growth during its first and second full years following redevelopment as customer awareness and usage of the expanded facilities increase.

Potential future investments include the fit-out of the first-floor office accommodation at Oversley Mill and an extension of the site's electric vehicle charging facilities. These opportunities remain under review and will be assessed against customer demand, expected returns, financing requirements and the company's wider strategic priorities.

The company will continue to explore opportunities to expand non-fuel income through food-to-go, bakery, concessions, convenience retail, rental income and electric vehicle charging.

The directors' immediate priority is to consolidate the significant investment made in the business, maintain appropriate control over costs and borrowing, and ensure that the company generates sustainable returns from its improved asset base.

KEY PERFORMANCE INDICATORS (KPI'S)

The directors monitor a range of financial and non-financial key performance indicators to assess the company's performance and operational progress. These include:

- Turnover and gross profit from fuel and retail activities;

- Fuel volume sold by site;

- Fuel margin per litre;

- Weekly shop sales;

- Average customer basket spend;

- Food-to-go and bakery sales;

- Staff costs;

- Stock availability and stock losses;

- Energy consumption and solar generation; and

- Operating profit and cash flow.

Overall turnover and profitability decreased during the year due to the prolonged closure of Oversley Mill and the costs associated with its redevelopment.Fuel volumes at the site remained strong, with the company continuing to balance competitive pricing against the need to achieve an appropriate margin.

Oversley Mill recorded positive early performance following its reopening in June 2025. Fuel volumes, shop sales, customer numbers, average basket spend and food-to-go sales were all encouraging during the initial trading period. The directors will continue to monitor performance as the site completes its first full year following redevelopment.

EVENTS AFTER THE REPORTING PERIOD

On 18 December 2025, Andrew Brown, the company's Managing Director, passed away following a short illness. The directors acknowledge his significant contribution to the company and its development.

Following his death, Harry Brown, an existing director of the company, assumed the position of Managing Director. The directors have taken steps to ensure continuity in the company's leadership, operations and relationships with key customers, employees, suppliers and finance providers.

Rental income from the Costa Coffee drive-through commenced in January 2026 following the agreed initial rent-free period.

The directors are not aware of any other significant post-balance-sheet events requiring disclosure within this strategic report.

CONCLUSION

The year ended 30 September 2025 was a period of substantial investment and operational change. Although the extended closure of Oversley Mill and the associated redevelopment expenditure reduced turnover and profitability, the project has created a significantly improved site with increased retail capacity, a broader customer offering and additional sources of income.

Washford continued to perform strongly and benefited from its store refit, revised management structure, new supply arrangement and improved operating systems.

The directors believe that the investments made during the year provide a strong foundation for future growth. The company enters the next financial year with two improved retail operations, a broader range of non-fuel income, modernised systems and an experienced workforce.

The directors remain confident in the company's ability to manage its financial and operational risks, develop the performance of its existing sites and deliver sustainable long-term growth.

ON BEHALF OF THE BOARD:

Mr H S Brown - Director

3 July 2026

The directors present their report with the financial statements of the company for the year ended 30 September 2025.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of the selling of petrol, other forecourt supplies and roadside investment property.

DIVIDENDS

Interim dividends were paid during the year on 30th June 2025..

The directors recommend Interim dividends per share as follows:

Ordinary A Shares

£945.00

Ordinary B Shares

NIL

The total distribution of dividends for the year ended 30 September 2025 were £283,500 (2024: £378,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2024 to the date of this report.

Mrs L S Brown

Mr H S Brown

Other changes in directors holding office are as follows:

Mr A Brown ceased to be a director after 30 September 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, FWC Advisory Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr H S Brown - Director

3 July 2026

Opinion

We have audited the financial statements of Bridge End Limited (the 'company') for the year ended 30 September 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its loss 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 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page nine, 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.

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.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the management the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focused on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

- Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;

- Obtaining an understanding of the Company's policies and procedures relating to:

- Detecting and responding to the risks of fraud; and

- Internal controls established to mitigate risks related to fraud.

- Review of minutes of meeting of those charged with governance for any known or suspected instances of fraud;

- Discussion amongst the engagement team as to how and where fraud might occur in the financial statements:

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and

- Considering remuneration incentive schemes and performance targets and the related financial statement areas impacted by these.

Based on our-risk assessment, we considered the areas most susceptible to fraud to be in the following areas:

- management override of controls in order to misrepresent the performance of the company through the use of inappropriate journals or bias in accounting estimates;

- revenue recognition, specifically the manipulation of revenue using fraudulent journals; and

- manipulation of the timing of recognising revenue around the year end.

- Existence and valuation of tangible fixed assets

Our procedures in respect of the above included:

- Testing journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation. We tested the appropriateness of accounting journals and other adjustments made in the preparation of the financial statements;

- We reviewed the Company's accounting policies for non-compliance with relevant standards. Our work also included considering significant accounting estimates for evidence of misstatement or possible bias and testing any significant transactions that appeared to be outside the normal course of business; and

- Cut off testing performed by selecting a sample of revenue transactions before and after year end, to ensure that these were recorded in the correct period based on the appropriate revenue recognition accounting policy.

- Testing of ownership, rights, obligation and appropriateness of the valuation for existing and newly added assets.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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/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.

Michelle Vincent (Senior Statutory Auditor)

for and on behalf of FWC Advisory Ltd

29 Wood Street

Stratford-Upon-Avon

Warwickshire

CV37 6JG

3 July 2026

TURNOVER

3

12,825,037

17,844,476

Cost of sales

(11,950,916

)

(15,987,328

)

GROSS PROFIT

874,121

1,857,148

Administrative expenses

(1,746,516

)

(1,161,878

)

(872,395

)

695,270

Other operating income

4

40

742

Gain/loss on revaluation of investment property

741,774

-

OPERATING (LOSS)/PROFIT

6

(130,581

)

696,012

Interest payable and similar expenses

8

(196,659

)

(38,065

)

(LOSS)/PROFIT BEFORE TAXATION

(327,240

)

657,947

Tax on (loss)/profit

9

(239,218

)

(196,891

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(566,458

)

461,056

(LOSS)/PROFIT FOR THE YEAR

(566,458

)

461,056

OTHER COMPREHENSIVE INCOME

Surplus/deficit on property revaluation

(2,128,684

)

1,082,414

Income tax relating to other comprehensive income

24,621

(290,493

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(2,104,063

)

791,921

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(2,670,521

)

1,252,977

FIXED ASSETS

Tangible assets

11

9,227,051

7,171,866

Investment property

12

2,325,000

950,000

11,552,051

8,121,866

CURRENT ASSETS

Stocks

13

286,970

122,523

Debtors

14

1,316,885

2,084,957

Cash in hand

2,854

5,977

1,606,709

2,213,457

CREDITORS

Amounts falling due within one year

15

7,032,208

1,740,268

NET CURRENT (LIABILITIES)/ASSETS

(5,425,499

)

473,189

TOTAL ASSETS LESS CURRENT LIABILITIES

6,126,552

8,595,055

CREDITORS

Amounts falling due after more than one year

16

(523,798

)

(451,815

)

PROVISIONS FOR LIABILITIES

19

(1,527,512

)

(1,113,977

)

NET ASSETS

4,075,242

7,029,263

CAPITAL AND RESERVES

Called up share capital

20

2,254

2,254

Revaluation reserve

21

2,833,350

5,255,344

Capital redemption reserve

21

876

876

Other reserves

21

970,731

414,400

Retained earnings

21

268,031

1,356,389

SHAREHOLDERS' FUNDS

4,075,242

7,029,263

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2026 and were signed on its behalf by:

Mr H S Brown - Director

Called up

share

Retained

Revaluation

capital

earnings

reserve

£

£

£

Balance at 1 October 2023

2,254

1,273,333

4,463,423

Changes in equity

Dividends

-

(378,000

)

-

Total comprehensive income

-

461,056

791,921

Balance at 30 September 2024

2,254

1,356,389

5,255,344

Changes in equity

Dividends

-

(283,500

)

-

Total comprehensive income

-

(804,858

)

(2,421,994

)

Balance at 30 September 2025

2,254

268,031

2,833,350

Capital

redemption

Other

Total

reserve

reserves

equity

£

£

£

Balance at 1 October 2023

876

414,400

6,154,286

Changes in equity

Dividends

-

-

(378,000

)

Total comprehensive income

-

-

1,252,977

Balance at 30 September 2024

876

414,400

7,029,263

Changes in equity

Dividends

-

-

(283,500

)

Total comprehensive income

-

556,331

(2,670,521

)

Balance at 30 September 2025

876

970,731

4,075,242

Cash flows from operating activities

Cash generated from operations

1

1,515,186

49,256

Interest paid

(196,659

)

(38,065

)

Tax paid

(120,246

)

(147,728

)

Net cash from operating activities

1,198,281

(136,537

)

Cash flows from investing activities

Purchase of tangible fixed assets

(4,803,048

)

(99,652

)

Purchase of investment property

(633,226

)

-

Net cash from investing activities

(5,436,274

)

(99,652

)

Cash flows from financing activities

New Bank loans

4,764,131

-

New Other loans

100,000

(101,934

)

Capital repayments in year

(390,282

)

-

Amount introduced by directors

8,962

-

Amount withdrawn by directors

-

(5,449

)

Equity dividends paid

(283,500

)

(378,000

)

Net cash from financing activities

4,199,311

(485,383

)

Decrease in cash and cash equivalents

(38,682

)

(721,572

)

Cash and cash equivalents at beginning of year

2

(178,091

)

543,481

Cash and cash equivalents at end of year

2

(216,773

)

(178,091

)

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

(Loss)/profit before taxation

(327,240

)

657,947

Depreciation charges

197,077

146,433

Loss on disposal of fixed assets

655,735

-

Gain on revaluation of fixed assets

(741,774

)

-

Finance costs

196,659

38,065

(19,543

)

842,445

(Increase)/decrease in stocks

(164,447

)

100,780

Decrease/(increase) in trade and other debtors

703,627

(417,461

)

Increase/(decrease) in trade and other creditors

995,549

(476,508

)

Cash generated from operations

1,515,186

49,256

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2025

30/9/25

1/10/24

£

£

Cash and cash equivalents

2,854

5,977

Bank overdrafts

(219,627

)

(184,068

)

(216,773

)

(178,091

)

Year ended 30 September 2024

30/9/24

1/10/23

£

£

Cash and cash equivalents

5,977

543,481

Bank overdrafts

(184,068

)

-

(178,091

)

543,481