REGISTERED NUMBER: 05174041 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

CABLE SERVICES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

7

Statement of Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

J M Williams

L D Steadman-Walley

W Robinson

J W Bostock

I N Firth

G Clark

SECRETARY:

J W Bostock

REGISTERED OFFICE:

Bridge House

Bridge Road

Wrexham Industrial Estate

Wrexham

LL13 9PS

REGISTERED NUMBER:

05174041 (England and Wales)

AUDITORS:

M. D. Coxey and Co. Limited

Chartered Accountants

and Statutory Auditors

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

Barclays Bank plc

51-52 Hope Street

Wrexham

LL11 1BB

The directors present their strategic report for the year ended 31st March 2025.

REVIEW OF BUSINESS

A challenging, yet successful, year for the business, with various resource pressures. Our supply chain has shown price pressure and scarcity of some resource, during the year. This is mitigated by constantly monitoring through regular review meetings with key parties and adjusting inventory levels when needed.

KEY PERFORMANCE INDICATORS

The directors believe that the key performance indicators are those that measure the financial performance of the company. These are turnover, gross profit, overhead levels and cash flow.

Turnover has decreased on the previous year by 2.6%.

The gross profit margin has increased from 22.4% in the previous year to 25.5% in the current year.

Non-financial performance indicators are also key to management's holistic approach to all stakeholders. These include customer satisfaction, staff turnover, manufacturing efficiency, hygiene, health and safety and environmental impact.

The average number of employees has increased from 64 to 65.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is subject to a number of potential risks and uncertainties:

The company operates in a highly competitive and busy specialist sector, particularly with regard to product range, price, service and availability. Failure to pay attention to any of these elements could result in failing to meet customer expectations, potentially reduced sales and excessive stock holdings. To mitigate this there is a considerable focus on service, systems and controls, the monitoring of competitor activities and the constant analysis of the company performance and procedures. The management team regularly review performance and forecasts to ensure targets are met. The company's cash flows are regularly monitored, and its budget and forecasts reviewed by management. To meet its obligations the company regularly monitors its liquidity, having regard to its working capital requirements, banking facilities and other financing.

Financial risk management

Financial risk management is considered regularly by the management team and the directors. Primary risks to which the company could be exposed are interest rate risk, liquidity risk and credit risk.

Interest rate risk

The company has no external debt, therefore any fluctuations in interest rate do not have a significant effect on the company.

Liquidity risk

The company ensures that there are sufficient funds available to meet the requirements of its on-going operations. The company has a significant cash balance of £23.5m at the year-end therefore there is sufficient liquidity headroom.

Credit risk

Credit risk principally arises on trade receivables and the company places a lot of emphasis on a stringent credit control policy. Management information is produced and reviewed by directors comparing it to both budget and previous year to assess performance and identify changing market conditions. Robust controls, policies and procedures are in place to mitigate risk.

SECTION 172(1) STATEMENT

The directors have a duty to promote the success of the company for the benefit of all key stakeholders. Considering the potential consequences that a decision may have on employees, suppliers, customers and other related parties is paramount. Acting with integrity and promoting high standards across the business reflects positively on the already high regard in which we are held. The company is aware of its responsibility to the local community and the environment, raising funds for local charities continues to be a focus of ours. Elsewhere the company is looking to find ways of reducing energy consumption and its environmental impact across our operations. Fundamental to the business is our ultimate aim of increasing the value of the company and the welfare of our colleagues through building lasting relationships with our partners and creating opportunities for employees to achieve their potential.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Suppliers

The business extends the expectation of high standards of commercial conduct into the supply chain. Supplier engagement is sought and maintained through regular review processes.

Customers

Customer feedback and insights are critical in shaping how the business the existing product and services offering. This is gained through customer satisfaction survey and input from business account managers and our customer service representatives.

Employees

Attracting and retaining talented and diverse employees is critical to the long term success of the business. The business seeks to create a respectful, rewarding, diverse and inclusive work environment. This starts with the concept of a growth mindset and a belief that everyone can grow and develop. The senior management team use feedback from regular reviews to further improve areas of strength and to address opportunities for improvement.

Environment

The Directors understand and embrace the need to reduce the impact of the business on the environment. We are committed to reducing our carbon footprint and this will be achieved engaging with all key partners to understand what needs to be done to achieve positive outcomes.

ON BEHALF OF THE BOARD:

J M Williams - Director

6th July 2026

The directors present their report with the financial statements of the company for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale distribution of power cables, accessories and ancillary electrical equipment.

DIVIDENDS

No dividends will be distributed for the year ended 31st March 2025.

FUTURE DEVELOPMENTS

We continue to focus on being increasingly competitive with our marketing activity to further grow brand awareness, taking the business to new heights by building on the success of previous years.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1st April 2024 to the date of this report unless otherwise stated.

Other changes in directors holding office are as follows:

G Clark was appointed as a director after 31st March 2025 but prior to the date of this report.

A J Smith ceased to be a director after 31st March 2025 but prior to the date of this report.

The directors shown below were in office at 31st March 2025 but did not hold any interest in the Ordinary shares of £1 each at 1st April 2024 or 31st March 2025.

J M Williams

L D Steadman-Walley

A J Smith

W Robinson

J W Bostock

I N Firth

FINANCIAL INSTRUMENTS

The company's operations expose it to a variety of financial risks including credit risk and price risk. The company do not consider cash flow and liquidity to be a risk.

The company does not have material exposure in any of the areas identified above.

The company's principal financial instruments comprise sterling cash and bank deposit, together with trade debtors and trade creditors that arise directly from operations.

POLITICAL DONATIONS AND EXPENDITURE

Charitable donations for the year amounted to £80,000 (2024: £80,000). There were no political donations.

EQUAL OPPORTUNITIES AND DIVERSITY

The Company values diversity and sees equal opportunity as making the best use of the talents of all employees and potential employees. As such it is Company policy to give full and fair consideration to applications for employment by disabled persons, bearing in mind the abilities of the applicant concerned. The Company will not tolerate discrimination in the workplace and aims to ensure that each employee feels valued, and has the opportunity to contribute fully to the success of the Company.

The Company's policy on training and promotion is to fit the qualifications and potential of each member of its staff to the appropriate job and career path within the business.

GEOGRAPHICAL AREA

No branches of the company exist outside the United Kingdom.

POST BALANCE SHEET EVENTS

There have been no events since the year end which would materially affect the financial statements.

ENGAGEMENT WITH EMPLOYEES

The company places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on the various factors affecting the performance of the Group and Company. This is achieved through formal and informal meetings and regular internal communications.

STREAMLINED ENERGY AND CARBON REPORT

Methodology

There is no prescribed reporting methodology under the legislation, although for effective emissions management and transparency Cable Services Limited has adopted accepted methods set out in 'GHG Reporting Protocol - A Corporate Accounting and Reporting Standard' and Defra's 'Environmental Reporting guidelines: including Streamlined Energy and Carbon Reporting requirements.

During the financial year 2024/25, Cable Services Limited continued a number of energy efficiency measures, including:

- "Energy Action Plan" at all branches - this required branch managers to implement energy saving initiatives (for example: turn down thermostats, switch off campaign etc).

- All forklift trucks were changed over from diesel/gas powered to electric - this allowed branches to keep doors closed during winter months (due to no exhaust fumes) which in turn reduced energy required for heating (plus associated costs).

- Electric vehicle charge points rolled out at all branches.

- All company cars are now electric or hybrid.

Under the Companies (Directors' Report) (Energy and Carbon Report) Regulations 2018, Cable Services Limited is mandated to disclose its UK annual energy use and associated greenhouse gas emissions. Cable Services Limited qualifies for this because it is a private unquoted UK company with an annual turnover of more than £36M.

Specifically, Cable Services Limited is required to report, as a minimum, energy use and associated GHG emissions relating to natural gas, electricity and transport fuel, as well as an intensity ratio and narrative on energy efficiency action taken over the year.

Cable Services Limited is disclosing its SECR for FY2024/25 (as below).

Energy (KWH)

GHG tc02e

Energy Intensity ratio (per £M turnover)

GHG Intensity ratio (per £M turn)over

Scope 1 gas & Gas oil combustion (for heating of production sites and offices) Diesel (for company owned/leased vehicles)

259,627

60.61

5,420

1.27

Scope 2 Grid electricity consumed at production sites/offices.

272,774

55.90

5,695

1.17

Relevant Scope 3 Grey Fleet (For fuel burned in business travel where vehicle involved is a rental or belongs to employees who buy the fuel.

46,247

15.35

965

0.32

All scopes

578,648

131.86

12,080

2.75

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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, M. D. Coxey and Co. Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J M Williams - Director

6th July 2026

Opinion

We have audited the financial statements of Cable Services Limited (the 'company') for the year ended 31st March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st March 2025 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 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 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Anthony Lewis (Senior Statutory Auditor)

for and on behalf of M. D. Coxey and Co. Limited

Chartered Accountants

and Statutory Auditors

25 Grosvenor Road

Wrexham

LL11 1BT

6th July 2026

TURNOVER

3

47,423,604

48,691,932

Cost of sales

35,316,972

37,357,314

GROSS PROFIT

12,106,632

11,334,618

Administrative expenses

8,089,746

7,339,620

OPERATING PROFIT

5

4,016,886

3,994,998

Interest receivable and similar income

6

917,495

729,530

PROFIT BEFORE TAXATION

4,934,381

4,724,528

Tax on profit

7

1,359,514

1,204,249

PROFIT FOR THE FINANCIAL YEAR

3,574,867

3,520,279

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,574,867

3,520,279

FIXED ASSETS

Tangible assets

8

1,060,429

1,250,762

CURRENT ASSETS

Stocks

9

7,646,149

7,786,821

Debtors

10

9,571,613

9,562,303

Cash at bank and in hand

23,509,144

19,494,059

40,726,906

36,843,183

CREDITORS

Amounts falling due within one year

11

10,780,813

10,635,631

NET CURRENT ASSETS

29,946,093

26,207,552

TOTAL ASSETS LESS CURRENT LIABILITIES

31,006,522

27,458,314

PROVISIONS FOR LIABILITIES

13

173,050

199,709

NET ASSETS

30,833,472

27,258,605

CAPITAL AND RESERVES

Called up share capital

14

1

1

Capital reserve

15

300,999

300,999

Retained earnings

15

30,532,472

26,957,605

SHAREHOLDERS' FUNDS

30,833,472

27,258,605

The financial statements were approved by the Board of Directors and authorised for issue on 6th July 2026 and were signed on its behalf by:

J M Williams - Director

Called up

share

Retained

Capital

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st April 2023

1

23,437,326

300,999

23,738,326

Changes in equity

Total comprehensive income

-

3,520,279

-

3,520,279

Balance at 31st March 2024

1

26,957,605

300,999

27,258,605

Changes in equity

Total comprehensive income

-

3,574,867

-

3,574,867

Balance at 31st March 2025

1

30,532,472

300,999

30,833,472

1.	STATUTORY INFORMATION

Cable Services 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.	ACCOUNTING POLICIES

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.

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.

Significant judgements and estimates

In the application of the Company’s accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

- Estimated useful lives and residual values of fixed assets:

The carrying value of fixed assets are reviewed each year end for indicators of impairment triggers. If such triggers exist, management would be required to carry out a formal impairment review using a discounted cash flow model to determine their value in use on a cash-generating unit basis. The value in use calculation requires management to estimate the future cash flows expected to arise from the cash-generating unit and a sustainable discount rate in order to calculate the present value.

Depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

- Estimated write down of stock to net realisable value:

Stock valuation has been based on an estimated useful life and residual value deemed appropriate by the directors. The estimated write down of stock to net realisable value is reviewed annually and revised as appropriate by the directors.

- Revenue recognition:

In making its judgement, management consider the detailed criteria for the recognition of revenue as set out within Section 23 of FRS 102. The directors are satisfied that the recognition point being typically when goods are delivered and legal title has passed is correct.

Turnover

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

Sales of goods

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when the risks and rewards of ownership have passed to the customer. This typically happens when goods are delivered and legal title has passed.

Tangible fixed assets

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

Fixtures and fittings

-

10% - 20% on cost

Motor vehicles

-

20% on cost

Stocks

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

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents:

These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.

Debtors:

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Trade creditors:

Trade creditors are not interest bearing and are stated at their nominal value.

Intra-group balances (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

3.

TURNOVER

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

The company's turnover arose wholly within the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

3,508,876

3,260,628

Social security costs

190,905

189,163

Other pension costs

20,574

54,546

3,720,355

3,504,337

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

31.3.25

31.3.24

Directors

6

6

Management

4

3

Sales and administration

55

55

65

64

31.3.25

31.3.24

£

£

Directors' remuneration

769,360

786,193

Directors' pension contributions to money purchase schemes

14,883

13,500

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

Money purchase schemes

5

5

Information regarding the highest paid director is as follows:

31.3.25

31.3.24

£

£

Emoluments etc

309,101

318,216

Pension contributions to money purchase schemes

4,962

4,500

Key management are also the directors.

5.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

£

Depreciation - owned assets

293,720

300,264

Foreign exchange differences

9,171

-

Operating lease rentals: plant & machinery

-

185,052

Operating lease rentals: other assets

-

434,560

Auditors' remuneration

15,500

13,275

6.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.3.25

31.3.24

£

£

Deposit account interest

917,495

715,293

Corporation tax interest

received

-

14,237

917,495

729,530

7.

TAXATION

Analysis of the tax charge

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

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

1,386,173

1,230,656

Deferred tax

(26,659

)

(26,407

)

Tax on profit

1,359,514

1,204,249

UK corporation tax has been charged at 25% (2024 - 25%).

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:

31.3.25

31.3.24

£

£

Profit before tax

4,934,381

4,724,528

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

1,233,595

1,181,132

Effects of:

Permanent timing differences

125,919

23,117

Total tax charge

1,359,514

1,204,249

8.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2024

2,209,025

394,754

2,603,779

Additions

103,387

-

103,387

At 31st March 2025

2,312,412

394,754

2,707,166

DEPRECIATION

At 1st April 2024

1,066,663

286,354

1,353,017

Charge for year

258,621

35,099

293,720

At 31st March 2025

1,325,284

321,453

1,646,737

NET BOOK VALUE

At 31st March 2025

987,128

73,301

1,060,429

At 31st March 2024

1,142,362

108,400

1,250,762

9.

STOCKS

31.3.25

31.3.24

£

£

Finished goods

7,646,149

7,786,821

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

8,161,625

8,986,047

Other debtors

1,409,988

576,256

9,571,613

9,562,303

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

5,814,133

6,259,960

Tax

573,372

288,858

Other creditors

4,393,308

4,086,813

10,780,813

10,635,631

12.	LEASING AGREEMENTS

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

31.3.25

31.3.24

£

£

Within one year

646,922

364,738

Between one and five years

739,547

428,793

1,386,469

793,531