REGISTERED NUMBER: 07894108 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

MIKADO FOODS (UK) LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

Mrs O Howe

Mr J S Howe

REGISTERED OFFICE:

Unit 2, Manor Courtyard

Hughenden Ave

High Wycombe

HP13 5RE

REGISTERED NUMBER:

07894108 (England and Wales)

AUDITORS:

Richardson Jones

Chartered Accountants &

Registered Auditors

Mercury House

19-21 Chapel Street

Marlow

Buckinghamshire

SL7 3HN

The directors present their strategic report for the year ended 28 February 2026.

For the financial year ending 28th February 2026, Mikado Foods (UK) Ltd continued to make steady progress, reporting another year of growth in revenue and profitability. The company's expansion into new product categories and channels has contributed to this positive trend, supported by prudent financial management and ongoing operational improvements.

Mikado Foods (UK) Ltd continues to operate as part of the MDH Group Holdings Ltd group structure, which provides a strong foundation for future development. Day-to-day management and operations of Mikado Foods (UK) Ltd have remained unchanged, while the group structure continues to support the company's long-term strategic objectives.

REVIEW OF BUSINESS

1. Financial performance

- Net Trading Profit:

o 2026 (01/03/2025 to 28/02/2026): £2,624,630

o 2025 (01/03/2024 to 28/02/2025): £2,586,857

- Profit Increase: Net trading profit increased by £37,773 reflecting successful expansion, continued cost management, and operational efficiency.

- Cost Management: The company maintained control over operational costs, primarily through consolidation of warehousing and logistics and further efficiency initiatives.

2. Investment in Commercial Property Investment: Ownership of the commercial property remains within the group structure, held by MDH Group Holdings Ltd. This arrangement provides a clear separation of trading and property assets, supporting flexibility in group strategy and financial management.

Impact: Although the property is now held by the holding company, Mikado Foods (UK) Ltd continues to benefit from reduced rental expenses and the long-term stability afforded by group ownership. The strategic management of property assets at the group level supports overall profitability, cash flow, and financial resilience for both the operating company and its parent.

3. Market Expansion

- Chilled Category: The chilled category continues to contribute to revenue growth, with new product listings in major UK retailers.

- Product Diversification: The company is expanding its range across both ambient and chilled products to meet changing consumer preferences.

4. Operational Efficiency

- Technology Investments: Ongoing investment in ERP systems and analytics has improved efficiency, demand forecasting, and customer service, supporting the company's ability to scale and adapt.

5. Strategic Acquisition Plans

- Objective: With the group structure in place, the company continues to pursue targeted acquisitions to broaden its portfolio and increase market share, and expects to continue doing so in the future.

- Focus: The focus remains on complementary businesses in the chilled or ambient sectors, particularly those aligned with the group's sustainability objectives.

PRINCIPAL RISKS AND UNCERTAINTIES

6. Challenges and Risk Management

- Integration: Detailed integration planning continues for future acquisitions, aiming to maximise value and maintain robust operations.

- Supply Chain and Regulatory Risks: Continued investment in diversified supply chains and compliance helps to ensure resilience in a changing market landscape.

7. Reputation Risk

- Commitment to Quality and Compliance: The company remains committed to maintaining high standards for product quality and compliance with all relevant regulations.

- Ethical Sourcing and Transparency: Ethical sourcing and transparent business practices are key priorities, supported by regular supplier monitoring.

- Crisis Management: Established crisis management protocols enable prompt and effective responses to any reputational challenges.

8. Priorities for Next Year

- Acquisition: Continue the planned acquisitions, making use of the flexibility and support offered by the group structure.

- Market and Product Growth: Continue to develop the chilled product offering, pursue product innovation, and strengthen market presence.

- Sustainability: The company is working to reduce its carbon footprint and accelerate the adoption of eco-friendly packaging, in line with group sustainability goals.

9. Conclusion

The financial year ending 28th February 2026 has seen continued progress for Mikado Foods (UK) Ltd, with steady growth and strategic investments. The established MDH Group Holdings Ltd group structure continues to provide a stable platform for further development, ensuring the company is well-placed for future opportunities.

ON BEHALF OF THE BOARD:

Mr J S Howe - Director

10 July 2026

The directors present their report with the financial statements of the company for the year ended 28 February 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a full-service importer and distributor of food products.

DIVIDENDS

Interim dividends per share were paid as follows:

50.00

- 6 March 2025

125.00

- 8 April 2025

380.00

- 6 May 2025

750.00

- 15 July 2025

300.00

- 21 November 2025

409.81

- 28 February 2026

2014.81

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 28 February 2026 will be £ 2,014,811 .

DIRECTORS

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

Mrs O Howe

Mr J S Howe

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), 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.

AUDITORS

The auditors, Richardson Jones, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr J S Howe - Director

10 July 2026

Opinion

We have audited the financial statements of Mikado Foods (UK) Ltd (the 'company') for the year ended 28 February 2026 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 28 February 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 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 four, 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.

We gained an understanding of the legal and regulatory framework applicable to Mikado Foods (UK) Ltd 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 designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including Food hygiene regulations, Organic certification and Health and Safety regulations.Our procedures included:

- agreeing the financial statement disclosures to underlying supporting documentation,

- enquiries with management,

- understanding of management's internal controls designed to prevent and detect irregularities.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

Giles Thrush (Senior Statutory Auditor)

for and on behalf of Richardson Jones

Chartered Accountants &

Registered Auditors

Mercury House

19-21 Chapel Street

Marlow

Buckinghamshire

SL7 3HN

10 July 2026

TURNOVER

3

24,070,138

23,044,930

Cost of sales

18,478,512

17,691,484

GROSS PROFIT

5,591,626

5,353,446

Distribution costs

450,667

384,956

Administrative expenses

1,675,864

1,584,359

2,126,531

1,969,315

3,465,095

3,384,131

Other operating income

-

74,355

OPERATING PROFIT

5

3,465,095

3,458,486

Interest receivable and similar income

40,078

17,906

3,505,173

3,476,392

Interest payable and similar expenses

6

4,348

25,460

PROFIT BEFORE TAXATION

3,500,825

3,450,932

Tax on profit

7

876,195

864,075

PROFIT FOR THE FINANCIAL YEAR

2,624,630

2,586,857

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,624,630

2,586,857

FIXED ASSETS

Tangible assets

9

25,833

17,776

Investments

10

-

49

25,833

17,825

CURRENT ASSETS

Stocks

11

3,083,078

4,211,752

Debtors

12

2,330,666

2,483,585

Cash at bank and in hand

3,445,755

2,023,751

8,859,499

8,719,088

CREDITORS

Amounts falling due within one year

13

1,724,577

2,187,589

NET CURRENT ASSETS

7,134,922

6,531,499

TOTAL ASSETS LESS CURRENT LIABILITIES

7,160,755

6,549,324

PROVISIONS FOR LIABILITIES

15

6,458

4,846

NET ASSETS

7,154,297

6,544,478

CAPITAL AND RESERVES

Called up share capital

16

1,000

1,000

Retained earnings

17

7,153,297

6,543,478

SHAREHOLDERS' FUNDS

7,154,297

6,544,478

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2026 and were signed on its behalf by:

Mr J S Howe - Director

Mrs O Howe - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 29 February 2024

-

5,286,621

5,286,621

Changes in equity

Issue of share capital

1,000

-

1,000

Dividends

-

(1,330,000

)

(1,330,000

)

Total comprehensive income

-

2,586,857

2,586,857

Balance at 28 February 2025

1,000

6,543,478

6,544,478

Changes in equity

Dividends

-

(2,014,811

)

(2,014,811

)

Total comprehensive income

-

2,624,630

2,624,630

Balance at 28 February 2026

1,000

7,153,297

7,154,297

1.	STATUTORY INFORMATION

Mikado Foods (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

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 is a qualifying entity for the purposes of FRS102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

o

Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;

o

Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values;Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values

The financial statements are consolidated in the financial statements of MDH Group Holdings Ltd. The consolidated financial statements of MDH Group Holdings Ltd are available from Unit 2 Manor Courtyard, Hughenden Avenue, High Wycombe, HP13 5RE.

Significant judgements and estimates

In preparing the financial statement it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. These assumptions are reassessed annually as part of the accounts preparation process.

The significant judgements that the directors have made in applying the Company's accounting policies that have the most significant effect on the statutory financial statements are discussed below:

- Bad debt provision

The company establishes a provision for debtors that are estimated not to be recoverable. When assessing recoverability, the directors have considered factors such as the ageing of debtors, past experience of recoverability, and the credit profile of individual or groups of customers.

- Stock provision

At the end of each reporting period stock are asssessed for impairment. If an item of stock is impaired, the stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the Statement of Comprehensive Income.

- Landed costs in stock

Stocks are stated at the lower of cost and net realisable value. Cost includes estimated landed costs where final invoices have not been received at the reporting date. Landed costs comprise freight, duty and other directly attributable costs incurred in bringing the stocks to their present location and condition. Estimates are made using available supporting information and are trued up or down to actual cost when the respective invoices are received. Any resulting differences are recognised in the period in which they are identified.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company uses forward foreign exchange contracts and currency options to manage exposure to foreign currency risk arising from forecast and committed transactions. These instruments are used for hedging purposes only and not for trading or speculative purposes. Derivative financial instruments are recognised initially at fair value and are subsequently remeasured at fair value at each reporting date. Any gains or losses arising are recognised in profit or loss unless the derivative is designated in a qualifying hedge relationship, in which case hedge accounting is applied. The company's forward contracts generally mature on the same day as the relevant exposure, while currency options may be exercised or cancelled over periods of three to six months. At the year end, the company had no derivative financial instruments outstanding.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

An analysis of turnover by geographical market for the year ended 28 February 2026 is given below:

£

United Kingdom

24,064,294

Europe

5,844

24,070,138

This analysis is not considered to be applicable to the year ended 28 February 2025.

4.	EMPLOYEES AND DIRECTORS

28.2.26

28.2.25

£

£

Wages and salaries

972,474

799,570

Social security costs

122,214

96,741

Other pension costs

62,636

48,062

1,157,324

944,373

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

28.2.26

28.2.25

Admin

6

4

Technical

3

3

Sales

3

3

Logistics

2

1

14

11

28.2.26

28.2.25

£

£

Directors' remuneration

416,500

391,333

Directors' pension contributions to money purchase schemes

36,000

36,000

Information regarding the highest paid director is as follows:

28.2.26

28.2.25

£

£

Emoluments etc

208,250

195,667

Pension contributions to money purchase schemes

18,000

18,000

5.	OPERATING PROFIT

The operating profit is stated after charging:

28.2.26

28.2.25

£

£

Hire of plant and machinery

635

2,095

Other operating leases

15,000

15,000

Depreciation - owned assets

8,801

4,885

Loss on disposal of fixed assets

163

-

Auditors' remuneration

16,000

28,500

Foreign exchange differences

39,576

16,650

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

28.2.26

28.2.25

£

£

Loan Interest

4,348

25,460

7.

TAXATION

Analysis of the tax charge

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

28.2.26

28.2.25

£

£

Current tax:

UK corporation tax

874,582

863,874

Deferred tax

1,613

201

Tax on profit

876,195

864,075

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:

28.2.26

28.2.25

£

£

Profit before tax

3,500,825

3,450,932

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

875,206

862,733

Effects of:

Expenses not deductible for tax purposes

1,431

940

Capital allowances in excess of depreciation

(2,055

)

-

Depreciation in excess of capital allowances

-

201

Deferred tax movements

1,613

201

Total tax charge

876,195

864,075

8.

DIVIDENDS

28.2.26

28.2.25

£

£

Ordinary shares of £1 each

Interim

2,014,811

1,330,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 March 2025

7,657

9,597

22,467

39,721

Additions

-

11,095

5,926

17,021

Disposals

-

(300

)

(10,005

)

(10,305

)

At 28 February 2026

7,657

20,392

18,388

46,437

DEPRECIATION

At 1 March 2025

2,632

2,689

16,624

21,945

Charge for year

1,256

3,003

4,542

8,801

Eliminated on disposal

-

(210

)

(9,932

)

(10,142

)

At 28 February 2026

3,888

5,482

11,234

20,604

NET BOOK VALUE

At 28 February 2026

3,769

14,910

7,154

25,833

At 28 February 2025

5,025

6,908

5,843

17,776

10.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 March 2025

49

Disposals

(49

)

At 28 February 2026

-

NET BOOK VALUE

At 28 February 2026

-

At 28 February 2025

49

11.

STOCKS

28.2.26

28.2.25

£

£

Stocks

3,083,078

4,211,752

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

1,913,060

1,749,914

Amounts owed by group undertakings

269

-

Amounts owed by associates

-

555,452

Other debtors

9,696

-

Tax

260,500

171,726

VAT

59,230

-

Prepayments and accrued income

87,911

6,493

2,330,666

2,483,585

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade creditors

1,532,505

2,047,774

Amounts owed to associates

116,006

94,188

Social security and other taxes

48,589

29,380

Other creditors

-

5,497

Accrued expenses

27,477

10,750

1,724,577

2,187,589

14.	SECURED DEBTS

Lloyds Bank plc hold a debenture dated 28th June 2019 over all the assets of the company to cover any existing or future credit arrangements. The interest rate to be agreed from time to time. At the balance sheet date no amounts were owed to the bank.

15.	PROVISIONS FOR LIABILITIES

28.2.26

28.2.25

£

£

Deferred tax

6,458

4,846

Deferred

tax

£

Balance at 1 March 2025

4,846

Provided during year

1,612

Balance at 28 February 2026

6,458

16.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.26

28.2.25

value:

£

£

1,000

Ordinary

£1

1,000

1,000

17.

RESERVES

Retained

earnings

£

At 1 March 2025

6,543,478

Profit for the year

2,624,630

Dividends

(2,014,811

)

At 28 February 2026

7,153,297