Company registration number 06340380 (England and Wales)
AGNE LIMITED
CONSOLIDATED ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
AGNE LIMITED
COMPANY INFORMATION
Directors
Mr AL Dalton
Mr SM Costigan
Secretary
Mrs IJ Dalton
Company number
06340380
Registered office
9 Vanguard Court
Preston Farm
Stockton on Tees
TS18 3TR
Auditor
Davies Tracey
Swan House
Westpoint Road
Teesdale Business Park
Stockton on Tees
TS17 6BP
AGNE LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group balance sheet
8
Company balance sheet
9
Group statement of changes in equity
10
Company statement of changes in equity
11
Group statement of cash flows
12
Notes to the financial statements
13 - 30
AGNE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Principal activities

The principal activity of the company and group continued to be that of providing clients with a broad range of marketing services, including but not limited to, online web to print applications, managing cross-media campaigns, creative design, printing, binding, mailing and pick and pack services.

Review of the business

The results for the year are in line with expectations.

Principal risks and uncertainties

The management of the business and the execution of the group's strategies are subject to risk, the key risk being raw material costs, which are managed through strong relationships with the key suppliers and a superior offering allowing input cost increases to be reflected in the pricing strategy.

Financial risk management

The group's principal financial instruments comprise bank balances, trade debtors, trade creditors, bank loans and finance leases.

The group's approach to managing risks is applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a positive bank balance sufficient to cover all expected future demands.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due within agreed credit terms.

Bank loans and finance leases are managed by taking fixed rate options where available to minimise interest rate risk.

Key performance indicators

The key financial performance indicators during the year are as follows:

2025 2024

£ £

Turnover 9,903,431 8,947,920

Gross profit 3,483,323 3,117,850

Operating profit/(loss) 449,807 83,094

On behalf of the board

Mr AL Dalton
Director
15 July 2026
AGNE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £226,753. The directors do not recommend payment of a further dividend.

Preference dividends were paid amounting to £8,038. The directors do not recommend payment of a final dividend.

Directors

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

Mr AL Dalton
Mr SM Costigan
Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

AGNE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
On behalf of the board
Mr AL Dalton
Director
15 July 2026
AGNE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AGNE LIMITED
- 4 -
Opinion

We have audited the financial statements of AGNE Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

AGNE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AGNE LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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 the extent to which an audit conducted under ISAs (UK) is capable of detecting irregularity, including fraud. Our procedures include:

- obtaining an understanding of the legal and regulatory frameworks applicable to the group and the company, such as the Companies Act 2006;

- obtaining an understanding of how the group and company complies with the applicable legal and regulatory frameworks;

- assessing the susceptibility of the group's and company's financial statements to material misstatement, including how fraud might occur, with audit procedures including reviewing internal controls, testing supporting documentation, enquiring of group and company management and obtaining written confirmation.

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. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

AGNE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AGNE LIMITED
- 6 -

Use of our report

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

Craig Davies (Senior Statutory Auditor)
For and on behalf of Davies Tracey
Chartered Accountants and Statutory Auditors
Swan House
Westpoint Road
Teesdale Business Park
Stockton on Tees
TS17 6BP
15 July 2026
AGNE LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
9,903,431
8,947,920
Cost of sales
(6,420,108)
(5,830,070)
Gross profit
3,483,323
3,117,850
Distribution costs
(206,702)
(303,889)
Administrative expenses
(2,836,424)
(2,743,631)
Other operating income
9,610
12,764
Operating profit
4
449,807
83,094
Interest receivable and similar income
8
5,786
2,914
Interest payable and similar expenses
9
(59,803)
(88,572)
Profit/(loss) before taxation
395,790
(2,564)
Tax on profit/(loss)
10
(105,181)
(81,278)
Profit/(loss) for the financial year
290,609
(83,842)
Profit/(loss) for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
AGNE LIMITED
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
12
733,616
867,001
Tangible assets
13
1,453,694
1,286,157
Investments
14
100,000
100,000
2,287,310
2,253,158
Current assets
Stocks
16
362,704
564,264
Debtors
17
904,983
927,796
Cash at bank and in hand
2,574,245
1,944,437
3,841,932
3,436,497
Creditors: amounts falling due within one year
18
(3,345,251)
(3,063,316)
Net current assets
496,681
373,181
Total assets less current liabilities
2,783,991
2,626,339
Creditors: amounts falling due after more than one year
19
(506,928)
(458,970)
Provisions for liabilities
Deferred tax liability
22
324,557
270,681
(324,557)
(270,681)
Net assets
1,952,506
1,896,688
Capital and reserves
Called up share capital
24
172,056
172,056
Share premium account
25
224,190
224,190
Profit and loss reserves
1,556,260
1,500,442
Total equity
1,952,506
1,896,688
The financial statements were approved by the board of directors and authorised for issue on 15 July 2026 and are signed on its behalf by:
15 July 2026
Mr AL Dalton
Director
Company registration number 06340380 (England and Wales)
AGNE LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
12
829,349
933,017
Tangible assets
13
1,453,694
1,286,157
Investments
14
100,400
100,400
2,383,443
2,319,574
Current assets
Stocks
16
362,704
564,264
Debtors
17
904,983
928,552
Cash at bank and in hand
2,574,245
1,943,498
3,841,932
3,436,314
Creditors: amounts falling due within one year
18
(3,345,346)
(3,063,316)
Net current assets
496,586
372,998
Total assets less current liabilities
2,880,029
2,692,572
Creditors: amounts falling due after more than one year
19
(506,928)
(458,970)
Provisions for liabilities
Deferred tax liability
22
324,557
270,681
(324,557)
(270,681)
Net assets
2,048,544
1,962,921
Capital and reserves
Called up share capital
24
172,056
172,056
Share premium account
25
224,190
224,190
Profit and loss reserves
1,652,298
1,566,675
Total equity
2,048,544
1,962,921

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £320,414 (2024 - £22,188 loss).

The financial statements were approved by the board of directors and authorised for issue on 15 July 2026 and are signed on its behalf by:
15 July 2026
Mr AL Dalton
Director
Company registration number 06340380 (England and Wales)
AGNE LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
172,056
224,190
1,794,321
2,190,567
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
(83,842)
(83,842)
Dividends
11
-
-
(210,037)
(210,037)
Balance at 31 December 2024
172,056
224,190
1,500,442
1,896,688
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
290,609
290,609
Dividends
11
-
-
(234,791)
(234,791)
Balance at 31 December 2025
172,056
224,190
1,556,260
1,952,506
AGNE LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
172,056
224,190
1,798,900
2,195,146
Year ended 31 December 2024:
Loss and total comprehensive income for the year
-
-
(22,188)
(22,188)
Dividends
11
-
-
(210,037)
(210,037)
Balance at 31 December 2024
172,056
224,190
1,566,675
1,962,921
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
320,414
320,414
Dividends
11
-
-
(234,791)
(234,791)
Balance at 31 December 2025
172,056
224,190
1,652,298
2,048,544
AGNE LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
29
1,528,252
909,042
Interest paid
(59,803)
(88,572)
Income taxes (paid)/refunded
(60,149)
3,206
Net cash inflow from operating activities
1,408,300
823,676
Investing activities
Purchase of tangible fixed assets
(159,210)
(63,406)
Proceeds from disposal of tangible fixed assets
26,599
70,946
Interest received
5,786
2,914
Net cash (used in)/generated from investing activities
(126,825)
10,454
Financing activities
Proceeds from new bank loans
58,016
-
Repayment of bank loans
(268,659)
(261,868)
Payment of finance leases obligations
(206,233)
(130,350)
Dividends paid to equity shareholders
(234,791)
(210,037)
Net cash used in financing activities
(651,667)
(602,255)
Net increase in cash and cash equivalents
629,808
231,875
Cash and cash equivalents at beginning of year
1,944,437
1,712,562
Cash and cash equivalents at end of year
2,574,245
1,944,437
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
1
Accounting policies
Company information

AGNE Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

The group consists of AGNE Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company AGNE Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is presumed not to exceed ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Franchise fee
Straight line over 10 years
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.8
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Straight line over the life of the lease
Plant and equipment
Straight line 3-12 years
Fixtures and fittings
Straight line 3-5 years or 20% reducing balance
Motor vehicles
Straight line 4-5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.9
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
9,903,431
8,947,920
2025
2024
£
£
Other revenue
Interest income
5,786
2,914

An analysis of the group's turnover is as follows:

The whole of turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.

AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
270,575
268,668
Depreciation of tangible fixed assets held under finance leases
100,601
242,761
(Profit)/loss on disposal of tangible fixed assets
(6,957)
1,969
Amortisation of intangible assets
133,385
133,385
Operating lease charges
179,496
178,582
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
13,605
14,200
6
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Production staff
41
46
41
46
Administration and sales staff
36
34
36
34
Total
77
80
77
80

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
2,772,001
2,751,290
2,772,001
2,751,290
Social security costs
307,135
249,055
307,135
249,055
Pension costs
68,294
67,832
68,294
67,832
3,147,430
3,068,177
3,147,430
3,068,177
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
22,359
22,010
Company pension contributions to defined contribution schemes
74
69
22,433
22,079

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
5,786
2,914
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
5,786
2,914
9
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
24,428
40,390
Other finance costs:
Interest on finance leases and hire purchase contracts
35,375
48,182
Total finance costs
59,803
88,572
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
51,305
60,149
Deferred tax
Origination and reversal of timing differences
53,876
21,129
Total tax charge
105,181
81,278
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
10
Taxation
(Continued)
- 22 -

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

2025
2024
£
£
Profit/(loss) before taxation
395,790
(2,564)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
98,948
(641)
Tax effect of expenses that are not deductible in determining taxable profit
37,159
40,090
Effect of change in corporation tax rate
-
78,806
Research and development tax credit
(30,926)
(36,977)
Taxation charge
105,181
81,278
11
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
234,791
210,037
12
Intangible fixed assets
Group
Goodwill
Franchise fee
Total
£
£
£
Cost
At 1 January 2025 and 31 December 2025
1,343,848
23,000
1,366,848
Amortisation and impairment
At 1 January 2025
476,847
23,000
499,847
Amortisation charged for the year
133,385
-
0
133,385
At 31 December 2025
610,232
23,000
633,232
Carrying amount
At 31 December 2025
733,616
-
0
733,616
At 31 December 2024
867,001
-
0
867,001
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
12
Intangible fixed assets
(Continued)
- 23 -
Company
Goodwill
Franchise fee
Total
£
£
£
Cost
At 1 January 2025 and 31 December 2025
1,046,685
23,000
1,069,685
Amortisation and impairment
At 1 January 2025
113,668
23,000
136,668
Amortisation charged for the year
103,668
-
0
103,668
At 31 December 2025
217,336
23,000
240,336
Carrying amount
At 31 December 2025
829,349
-
0
829,349
At 31 December 2024
933,017
-
0
933,017
13
Tangible fixed assets
Group
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
604,654
4,319,550
93,096
19,621
5,036,921
Additions
1,098
540,257
-
0
17,000
558,355
Disposals
-
0
(253,774)
-
0
-
0
(253,774)
At 31 December 2025
605,752
4,606,033
93,096
36,621
5,341,502
Depreciation and impairment
At 1 January 2025
410,444
3,244,246
76,453
19,621
3,750,764
Depreciation charged in the year
31,423
333,314
6,439
-
0
371,176
Eliminated in respect of disposals
-
0
(234,132)
-
0
-
0
(234,132)
At 31 December 2025
441,867
3,343,428
82,892
19,621
3,887,808
Carrying amount
At 31 December 2025
163,885
1,262,605
10,204
17,000
1,453,694
At 31 December 2024
194,210
1,075,304
16,643
-
0
1,286,157
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
13
Tangible fixed assets
(Continued)
- 24 -
Company
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
604,654
3,998,496
93,096
19,621
4,715,867
Additions
1,098
540,257
-
0
17,000
558,355
Disposals
-
0
(253,774)
-
0
-
0
(253,774)
At 31 December 2025
605,752
4,284,979
93,096
36,621
5,020,448
Depreciation and impairment
At 1 January 2025
410,444
2,923,192
76,453
19,621
3,429,710
Depreciation charged in the year
31,423
333,314
6,439
-
0
371,176
Eliminated in respect of disposals
-
0
(234,132)
-
0
-
0
(234,132)
At 31 December 2025
441,867
3,022,374
82,892
19,621
3,566,754
Carrying amount
At 31 December 2025
163,885
1,262,605
10,204
17,000
1,453,694
At 31 December 2024
194,210
1,075,304
16,643
-
0
1,286,157

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2025
2024
2025
2024
£
£
£
£
Plant and equipment
662,381
520,176
662,381
520,176
14
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
400
400
Unlisted investments
100,000
100,000
100,000
100,000
100,000
100,000
100,400
100,400
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14
Fixed asset investments
(Continued)
- 25 -
Movements in fixed asset investments
Group
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2025 and 31 December 2025
-
100,000
100,000
Carrying amount
At 31 December 2025
-
100,000
100,000
At 31 December 2024
-
100,000
100,000
Movements in fixed asset investments
Company
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2025 and 31 December 2025
400
100,000
100,400
Carrying amount
At 31 December 2025
400
100,000
100,400
At 31 December 2024
400
100,000
100,400
15
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Class Fundraising Limited
9 Vanguard Court, Preston Farm, Stockton on Tees TS18 3TR
Ordinary
100.00

Class Fundraising Limited was entitled to exemption from audit under section 479A of the Companies Act 2006.

16
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
362,704
564,264
362,704
564,264
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
17
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
696,623
731,935
696,623
732,091
Amounts owed by group undertakings
-
0
-
0
-
0
600
Prepayments and accrued income
208,360
195,861
208,360
195,861
904,983
927,796
904,983
928,552
18
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
20
238,411
265,033
238,411
265,033
Obligations under finance leases
21
167,741
206,808
167,741
206,808
Trade creditors
1,074,114
978,855
1,074,114
978,855
Amounts owed to group undertakings
-
0
-
0
95
-
0
Corporation tax payable
51,305
60,149
51,305
60,149
Other taxation and social security
509,841
490,827
509,841
490,827
Accruals and deferred income
1,303,839
1,061,644
1,303,839
1,061,644
3,345,251
3,063,316
3,345,346
3,063,316
19
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
20
89,886
273,907
89,886
273,907
Obligations under finance leases
21
417,042
185,063
417,042
185,063
506,928
458,970
506,928
458,970
20
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
328,297
538,940
328,297
538,940
Payable within one year
238,411
265,033
238,411
265,033
Payable after one year
89,886
273,907
89,886
273,907

Bank loans and overdrafts are secured by fixed and floating charges over the group's assets.

AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 27 -
21
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
197,076
243,037
197,076
243,037
In two to five years
488,126
228,338
488,126
228,338
685,202
471,375
685,202
471,375
Less: future finance charges
(100,419)
(79,504)
(100,419)
(79,504)
584,783
391,871
584,783
391,871

Obligations under finance leases are secured on the related assets.

22
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
330,096
274,941
Other timing differences
(5,539)
(4,260)
324,557
270,681
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
330,096
274,941
Other timing differences
(5,539)
(4,260)
324,557
270,681
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 January 2025
270,681
270,681
Charge to profit or loss
53,876
53,876
Liability at 31 December 2025
324,557
324,557
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
23
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
68,294
67,832

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

24
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
24,003
24,003
24,003
24,003
B Ordinary shares of £1 each
23,053
23,053
23,053
23,053
47,056
47,056
47,056
47,056
2025
2024
2025
2024
Preference share capital
Number
Number
£
£
Issued and fully paid
Cumulative non-redeemable preference shares of £1 each
125,000
125,000
125,000
125,000
Preference shares classified as equity
125,000
125,000
Total equity share capital
172,056
172,056

The shares rank pari passu other than in the following respects:

Non-redeemable preference shares

- No voting rights;

- Right to dividend fixed dividend based on bank base rate in preference to the Ordinary shares;

- On winding up, entitled to return of capital and any arrears of fixed dividend in preference to the Ordinary shares.

A Ordinary shares and B Ordinary shares

- Different rates of dividend may be declared in respect of the different classes of share.

25
Share premium account
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning and end of the year
224,190
224,190
224,190
224,190
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
26
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
189,226
139,097
189,226
139,097
Between two and five years
397,172
392,780
397,172
392,780
586,398
531,877
586,398
531,877
27
Related party transactions
Transactions with related parties
Dividends payable
2025
2024
£
£
Company
Key management personnel
234,791
210,037
28
Controlling party

The company is controlled by Mr A Dalton.

29
Cash generated from group operations
2025
2024
£
£
Profit/(loss) after taxation
290,609
(83,842)
Adjustments for:
Taxation charged
105,181
81,278
Finance costs
59,803
88,572
Investment income
(5,786)
(2,914)
(Gain)/loss on disposal of tangible fixed assets
(6,957)
1,969
Amortisation and impairment of intangible assets
133,385
133,385
Depreciation and impairment of tangible fixed assets
371,176
511,429
Movements in working capital:
Decrease in stocks
201,560
32,973
Decrease in debtors
22,813
335,059
Increase/(decrease) in creditors
356,468
(188,867)
Cash generated from operations
1,528,252
909,042
AGNE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 30 -
30
Analysis of changes in net funds - group
1 January 2025
Cash flows
New finance leases
31 December 2025
£
£
£
£
Cash at bank and in hand
1,944,437
629,808
-
2,574,245
Borrowings excluding overdrafts
(538,940)
210,643
-
(328,297)
Obligations under finance leases
(391,871)
206,233
(399,145)
(584,783)
1,013,626
1,046,684
(399,145)
1,661,165
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