REGISTERED NUMBER: 15897305 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Period 14 August 2024 to 31 December 2025

for

Giltex Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

S D Brodin

A L Brodin

REGISTERED OFFICE:

Reedham House

31 King Street West

Manchester

M3 2PJ

BUSINESS ADDRESS:

Emmanuel House

Travellers Close

Welham Green

Hertfordshire

AL9 7LO

REGISTERED NUMBER:

15897305 (England and Wales)

AUDITORS:

Freedman Frankl & Taylor

Reedham House

31 King Street West

Manchester

Greater Manchester

M3 2PJ

The directors present their strategic report of the company and the group for the period 14 August 2024 to 31 December 2025.

ON BEHALF OF THE BOARD:

A L Brodin - Director

20 July 2026

The directors present their report with the financial statements of the company and the group for the period 14 August 2024 to 31 December 2025.

INCORPORATION

The group was incorporated on 14 August 2024 .

DIVIDENDS

No dividends will be distributed for the period ended 31 December 2025.

DIRECTORS

The directors who have held office during the period from 14 August 2024 to the date of this report are as follows:

S D Brodin - appointed 14 August 2024

A L Brodin - appointed 14 August 2024

STREAMLINED ENERGY AND CARBON REPORTING

Description

Units

2025

UK energy use 1

kWh

388,946

Associated Greenhouse gas emission 2

TCO2e

140

Turnover

£

65,296,415

Intensity ratio

TCO2e emissions per £1m Turnover

2.9

1 UK energy use covers our building estate and vehicle fleet

2 Associated Greenhouse gas emissions has been calculated using 2025 UK Government Greenhouse Gas Conversion factors for Company Reporting.

During the year, we took the following energy efficiency actions.

- Configured smart meters to enable excess power generation from our solar panels to be exported to the grid.

- Replaced high mileage diesel company cars with lower emitting plug-in hybrid variants.

- Maintained low power LED lighting across our estate.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group 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 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

A L Brodin - Director

20 July 2026

Opinion

We have audited the financial statements of Giltex Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2025 and of the group's profit for the period 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 group 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 the 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 directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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 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 group's and 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 group or the parent 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:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance;

- results of enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team and involving other internal specialists including tax regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risks of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

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

- obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

- in addressing the risks of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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

Use of our report

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

Ian Sluckis BA FCA (Senior Statutory Auditor)

for and on behalf of Freedman Frankl & Taylor

Reedham House

31 King Street West

Manchester

Greater Manchester

M3 2PJ

20 July 2026

TURNOVER

3

65,073,297

Cost of sales

(37,349,394

)

GROSS PROFIT

27,723,903

Distribution costs

(10,515,015

)

Administrative expenses

(13,025,186

)

OPERATING PROFIT

5

4,183,702

Interest receivable and similar income

210,170

4,393,872

Interest payable and similar expenses

6

(170,392

)

PROFIT BEFORE TAXATION

4,223,480

Tax on profit

7

(913,728

)

PROFIT FOR THE FINANCIAL PERIOD

3,309,752

Profit attributable to:

Owners of the parent

3,309,752

PROFIT FOR THE PERIOD

3,309,752

OTHER COMPREHENSIVE INCOME

Movement on hedging reserve

(218,054

)

Aquisition of subsidiaries

20,796,476

Income tax relating to components of other comprehensive income

54,514

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

20,632,936

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

23,942,688

Total comprehensive income attributable to:

Owners of the parent

23,942,688

FIXED ASSETS

Intangible assets

9

-

Tangible assets

10

14,204,700

Investments

11

-

14,204,700

CURRENT ASSETS

Stocks

12

6,552,023

Debtors

13

9,443,324

Cash at bank and in hand

6,003,006

21,998,353

CREDITORS

Amounts falling due within one year

14

(7,570,066

)

NET CURRENT ASSETS

14,428,287

TOTAL ASSETS LESS CURRENT LIABILITIES

28,632,987

CREDITORS

Amounts falling due after more than one year

15

(3,151,860

)

PROVISIONS FOR LIABILITIES

18

(1,438,439

)

NET ASSETS

24,042,688

CAPITAL AND RESERVES

Called up share capital

19

100,000

Revaluation reserve

20

6,642,386

Capital redemption reserve

20

2

Consolidation reserve

20

13,850,900

Hedging reserve

20

27,508

Retained earnings

20

3,421,892

SHAREHOLDERS' FUNDS

24,042,688

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2026 and were signed on its behalf by:

A L Brodin - Director

S D Brodin - Director

FIXED ASSETS

Intangible assets

9

-

Tangible assets

10

-

Investments

11

3,185,878

3,185,878

CREDITORS

Amounts falling due within one year

14

(785,878

)

NET CURRENT LIABILITIES

(785,878

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,400,000

CAPITAL AND RESERVES

Called up share capital

19

100,000

Retained earnings

20

2,300,000

SHAREHOLDERS' FUNDS

2,400,000

Company's profit for the financial year

2,300,000

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2026 and were signed on its behalf by:

S D Brodin - Director

A L Brodin - Director

Called up

share

Retained

Revaluation

capital

earnings

reserve

£

£

£

Changes in equity

Issue of share capital

100,000

-

-

Total comprehensive income

-

3,421,892

6,642,386

Balance at 31 December 2025

100,000

3,421,892

6,642,386

Capital

redemption

Consolidation

Hedging

Total

reserve

reserve

reserve

equity

£

£

£

£

Changes in equity

Issue of share capital

-

-

-

100,000

Total comprehensive income

2

13,850,900

27,508

23,942,688

Balance at 31 December 2025

2

13,850,900

27,508

24,042,688

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

100,000

-

100,000

Total comprehensive income

-

2,300,000

2,300,000

Balance at 31 December 2025

100,000

2,300,000

2,400,000

Cash flows from operating activities

Cash generated from operations

1

7,973,284

Interest paid

(168,343

)

Interest element of hire purchase payments paid

(2,049

)

Tax paid

(1,040,399

)

Net cash from operating activities

6,762,493

Cash flows from investing activities

Purchase of tangible fixed assets

(3,284,498

)

Sale of tangible fixed assets

50,449

Acquisition of group companies

(278,647

)

Interest received

210,170

Net cash from investing activities

(3,302,526

)

Cash flows from financing activities

New loans in year

3,400,000

Loan repayments in year

(1,541,297

)

Capital repayments in year

(10,664

)

Amount introduced by directors

695,000

Net cash from financing activities

2,543,039

Increase in cash and cash equivalents

6,003,006

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

6,003,006

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

£

Profit before taxation

4,223,480

Depreciation charges

289,722

Profit on disposal of fixed assets

(4,344

)

Finance costs

170,392

Finance income

(210,170

)

4,469,080

Decrease in stocks

1,197,102

Decrease in trade and other debtors

2,677,570

Decrease in trade and other creditors

(370,468

)

Cash generated from operations

7,973,284

2.	CASH AND CASH EQUIVALENTS

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

Period ended 31 December 2025

31.12.25

14.8.24

£

£

Cash and cash equivalents

6,003,006

-

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 14.8.24

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

-

6,003,006

6,003,006

-

6,003,006

6,003,006

Debt

Finance leases

-

(27,337

)

(27,337

)

Debts falling due within 1 year

-

(261,464

)

(261,464

)

Debts falling due after 1 year

-

(3,131,518

)

(3,131,518

)

-

(3,420,319

)

(3,420,319

)

Total

-

2,582,687

2,582,687

1.	STATUTORY INFORMATION

Giltex 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 General 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.

Basis of consolidation

The group financial statements include the financial statements of the company and all its subsidiary undertakings.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

In the consolidated financial statements, intragroup shareholdings, liabilities, receivables and transactions are eliminate.

Significant judgements and estimates

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below.

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment assets, the directors have considered both external and internal sources of information such as market conditions and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

Tangible fixed assets

Tangible fixed assets, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover

Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates and value added tax from the provision of goods and services which fall within the company's ordinary activity. The directors consider the business to comprise a single activity.

Bank and other interest is recognised in the period in which it was received.

Grant income

Grants of a revenue nature are credited to income in the period to which they relate.

Patents and licences

Patents and licences are amortised on a straight line basis over the term of the related contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

1.25% on cost

Short leasehold

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance and 20% on reducing balance

Freehold properties are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are preformed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the assets and the net amount is restated to the revalued amount of the asset.

Any revaluation increase in the carrying amount of freehold properties is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in fair value reserve relating to an asset are recognised in profit or loss. Each year the difference between the depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is transfered from revaluation reserve to retained earning.

Other tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

Stocks

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

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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

Assets held under hire purchase contracts are capitalised and depreciated over their useful lives. The finance charges are allocated over the primary period of the lease in proportion to the capital element outstanding.

Amounts payable under operating leases are charged to the profit and loss account in the period in which they are incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme covering certain of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents the contributions payable to the pension scheme in respect of the accounting period.

Going concern

The company's financial statements for the period ended 31 December 2025 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Financial instruments

The company uses forward currency contracts to reduce exposure to foreign exchange rates.

The company considers it qualifies for hedge accounting when certain criteria are met :

Forward foreign currency contracts

The criteria for forward currency contracts are

- the instrument must be related to expected purchases in foreign currency,

- it must involve the same currency as the hedged item, and

- it must reduce the risk of foreign currency exchange movements in the company's operations

Foreign exchange forward contracts have been recognised at fair value at the end of the year with changes in fair value recognised in other comprehensive income as qualifying cash flow hedge..

3.

TURNOVER

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

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

£

Sale of Goods

65,073,297

65,073,297

4.	EMPLOYEES AND DIRECTORS

£

Wages and salaries

8,071,305

Social security costs

1,411,697

Other pension costs

428,635

9,911,637

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

Selling and administrative

76

Warehouse

38

114

£

Directors' remuneration

3,462,900

Directors' pension contributions to money purchase schemes

130,621

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

Money purchase schemes

1

Information regarding the highest paid director is as follows:

£

Emoluments etc

2,052,495

Pension contributions to money purchase schemes

17,937