REGISTERED NUMBER: 02514239 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

HOUSE OF WESTPHALIA LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Statement of Financial Position

12

Statement of Changes in Equity

13

Statement of Cash Flows

14

Notes to the Statement of Cash Flows

15

Notes to the Financial Statements

16

DIRECTORS:

Mr A R Mills

Mr D L Mills

Mrs I A Mills

SECRETARY:

Mrs I A Mills

REGISTERED OFFICE:

153 Camford Way

Luton

Beds

LU3 3AN

REGISTERED NUMBER:

02514239 (England and Wales)

SENIOR STATUTORY AUDITOR:

Tara Aldwin ACA

INDEPENDENT AUDITORS:

FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

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

REVIEW OF BUSINESS

The results of the company for the year show a profit on ordinary activities before tax of £1.487m (2024: £2.299m). The shareholders' funds of the company total £11.142m (2024: £10.678m).

2025

2024

2023

£'000

£'000

£'000

Turnover

43,666

43,549

43,134

Turnover growth

0.3%

1.0%

12.7%

Gross Profit Margin

17%

17%

15%

Profit before tax

1,487

2,299

2,298

The Directors are pleased to report on another year of consolidated organic growth with a marginal increase in turnover. Margins were lower due to an increase in raw material costs, which was partly driven by environmental packaging fees. The company ethos of being 'profitable, sustainable and scalable' remains the focus.

As in previous years since Brexit, 2025 presented the company with challenging issues to manage. There were global raw material shortages at the beginning of the year, and it was necessary to change recipes in some products. Distribution costs again increased. Many suppliers were quoting increases in product costs, delivery costs and energy costs, some including payroll increases, and increases in Employers NI. Our employees were, once again given around 5% salary increases. We were able to continue to provide an essential service with very high service levels. Post Brexit has resulted in a massive increase in administration that is now required to import goods from EU countries. The company now has to incur considerable costs for Customs Declarations that are averaging 1.3% on product costs. Declarations have to be made before goods enter the UK. In addition, we have a plastic tax and Extended Packaging Responsibility Costs which reduce profits further.

PRINCIPAL RISKS AND UNCERTAINTIES

The company continues to maintain procedures to identify, monitor and mitigate business risk. The key business risks and how they are managed are detailed below:

Liquidity risk is managed by maintaining a significant balance in the company's bank account in order to ensure there are sufficient funds available for ongoing operations and to meet obligations as they fall due.

Cash flow risks are managed through policies concerning the credit offered to customers and the robust monitoring of amounts outstanding.

Operational risk is managed by a defined structure for managing costs which is monitored by the Board on a regular basis.

Price risk is managed through good relationships with suppliers and constant monitoring of the external issues which impact the cost of goods being imported.

Foreign currency risk is managed through forward exchange contracts and spot purchases. We endeavour to achieve forward cover of some 22 weeks. These fix the rate of any material payments in a foreign currency and allow for better management of future pricing levels. At the end of the financial year the company is exposed to exchange rate movements against any open forward contracts.

FUTURE DEVELOPMENTS

In 2025 we launched a new product that has been a huge success and the sales revenue helped mitigate the sales losses when certain products were unavailable. In the coming financial year, the directors will continue to run the company in an expanding manner. We have 8 new products to launch and an opportunity to increase business with successful customer listings.

ON BEHALF OF THE BOARD:

Mr A R Mills - Director

29 June 2026

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

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of the wholesale of speciality foods and stock handling.

DIVIDENDS

The following interim dividends were paid during the year;

Ordinary £1

£Nil

Ordinary B £1

£8,510

Ordinary C £1

£470,600

Ordinary D £1

£150,000

The directors do not recommend payment of a final dividend.

The total distribution of dividends for the year ended 31 December 2025 was £629,110.

DIRECTORS

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

Mr A R Mills

Mr D L Mills

Mrs I A Mills

DISCLOSURE IN THE STRATEGIC REPORT

Information relating to principal risks and uncertainties the company is facing as well as the future developments of the company has been disclosed in the Strategic Report. Any matters that are Directors' Report disclosure requirements but considered by the directors to be of strategic importance to the company have been included in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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.

ON BEHALF OF THE BOARD:

Mr A R Mills - Director

29 June 2026

Opinion

We have audited the financial statements of House of Westphalia Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

• Enquiry of management and those charged with governance around actual and potential litigation and claims.

• Enquiry of entity staff and the board of directors to identify any instances of non-compliance with laws and regulations; and

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the following key risks:

- Related party transactions and associated disclosures.

- Management bias through the override of controls by management, and

- Revenue recognition and associated disclosures.

To address the risk of fraud through related parties, we:

- Obtained and reviewed all disclosed links to the charity by all relevant individuals.

- Examined the possibility of non-disclosed links to the business and individuals; and

- Reviewed all disclosures with reference to the FRS 102 standard and Companies Act 2006.

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

- Performed analytical procedures to identify any unusual or unexpected relationships.

- Tested journal entries to identify unusual transactions based on the nature of the journal or the owners of the journals, and

- Investigated the rationale behind significant or unusual transactions.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of income.

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

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

Use of our report

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

Tara Aldwin ACA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

7 July 2026

TURNOVER

4

43,666,259

43,549,072

Cost of sales

36,279,446

36,193,899

GROSS PROFIT

7,386,813

7,355,173

Distribution costs

1,715,534

1,603,149

Administrative expenses

4,320,230

3,467,569

6,035,764

5,070,718

1,351,049

2,284,455

Other operating income

5,080

5,781

OPERATING PROFIT

6

1,356,129

2,290,236

Interest receivable and similar income

133,592

32,005

1,489,721

2,322,241

Interest payable and similar expenses

7

2,404

23,448

PROFIT BEFORE TAXATION

1,487,317

2,298,793

Tax on profit

8

393,822

589,890

PROFIT FOR THE FINANCIAL YEAR

1,093,495

1,708,903

PROFIT FOR THE YEAR

1,093,495

1,708,903

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,093,495

1,708,903

FIXED ASSETS

Tangible assets

10

2,116,253

2,136,233

Investments

11

-

25,203

2,116,253

2,161,436

CURRENT ASSETS

Stocks

12

606,523

880,212

Debtors

13

4,009,883

4,504,725

Cash at bank

7,617,073

6,246,106

12,233,479

11,631,043

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14

3,034,464

2,975,924

NET CURRENT ASSETS

9,199,015

8,655,119

TOTAL ASSETS LESS CURRENT LIABILITIES

11,315,268

10,816,555

PROVISIONS FOR LIABILITIES

17

172,690

138,362

NET ASSETS

11,142,578

10,678,193

CAPITAL AND RESERVES

Called up share capital

18

146,533

146,533

Retained earnings

19

10,996,045

10,531,660

SHAREHOLDERS' FUNDS

11,142,578

10,678,193

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2026 and were signed on its behalf by:

Mr A R Mills - Director

Mr D L Mills - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

146,533

10,078,077

10,224,610

Changes in equity

Dividends

-

(1,255,320

)

(1,255,320

)

Total comprehensive income

-

1,708,903

1,708,903

Balance at 31 December 2024

146,533

10,531,660

10,678,193

Changes in equity

Dividends

-

(629,110

)

(629,110

)

Total comprehensive income

-

1,093,495

1,093,495

Balance at 31 December 2025

146,533

10,996,045

11,142,578

Cash flows from operating activities

Cash generated from operations

1

3,133,106

1,815,460

Interest paid

(2,404

)

(22,864

)

Interest element of hire purchase or finance lease rental payments paid

-

(584

)

Tax paid

(653,000

)

(552,484

)

Net cash from operating activities

2,477,702

1,239,528

Cash flows from investing activities

Purchase of tangible fixed assets

(236,193

)

(309,860

)

Sale of tangible fixed assets

51,388

100,150

Sale of fixed asset investments

18,000

33,750

Interest received

133,592

32,005

Net cash from investing activities

(33,213

)

(143,955

)

Cash flows from financing activities

Amount introduced by directors

-

431,123

Amount withdrawn by directors

(170,494

)

-

Equity dividends paid

(629,110

)

(1,255,320

)

Net cash from financing activities

(799,604

)

(824,197

)

Increase in cash and cash equivalents

1,644,885

271,376

Cash and cash equivalents at beginning of year

2

6,246,106

5,873,701

Effect of foreign exchange rate changes

(273,918

)

101,029

Cash and cash equivalents at end of year

2

7,617,073

6,246,106

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

2025

2024

£

£

Profit before taxation

1,487,317

2,298,793

Depreciation charges

200,113

184,920

Loss/(profit) on disposal of fixed assets

11,876

(11,607

)

(Increase)/decrease in derivative

(220,129

)

41,573

Foreign exchange losses/(gains)

273,918

(101,029

)

Finance costs

2,404

23,448

Finance income

(133,592

)

(32,005

)

1,621,907

2,404,093

Decrease in stocks

273,689

115,157

Decrease/(increase) in trade and other debtors

657,670

(93,486

)

Increase/(decrease) in trade and other creditors

579,840

(610,304

)

Cash generated from operations

3,133,106

1,815,460

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

7,617,073

6,246,106

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

6,246,106

5,873,701

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

6,246,106

1,370,967

7,617,073

6,246,106

1,370,967

7,617,073

Total

6,246,106

1,370,967

7,617,073

1.	STATUTORY INFORMATION

House of Westphalia Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

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

Turnover from the provision of goods is recognised in the accounting period in which the goods are delivered, the outcome of the contract can be measured reliably and economic benefits will flow to the company.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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

Improvements to property

- Straight line over 5 years

Plant and machinery

- 15% on reducing balance

Fixtures and fittings

- 15% on reducing balance

Motor vehicles

- 20% on reducing balance

Computer equipment

- 20% on reducing balance

Freehold property

- 2.5% on reducing balance

Land is not depreciated.

Stocks

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

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and subsequently measured using the amortised cost method which uses the effective interest method. At each balance sheet date, the directors assess trade and other debtors for evidence of indicators of impairment and where the directors conclude that amounts in respect of trade and other debtors are not recoverable, a specific bad debt provision is recognised. Trade debtors are not interest-bearing. Where the effects of discounting trade and other debtors is judged to be immaterial, such debtors are stated at cost less impairment losses in respect of bad debts.

Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, on-demand deposits with banks and other short - term highly liquid investments.

Impairment of financial assets

At each balance sheet date, the directors assess financial assets for indicators of impairment. Financial assets are considered to be impaired if there is objective evidence that the estimated future cash flows associated with the financial asset has been adversely affected by one, or more, events or conditions. In respect of trade debtors, objective evidence that a trade debtor, or a group of trade debtors, has become impaired is usually due to an increase in the trade debtor days. If a trade debtor, or a group of trade debtors, are identified to require impairment then they are reduced to recoverable amount by way of a specific bad debt provision.

Trade and other creditors

Trade and other creditors are initially recognised in the financial statements at transaction price. Trade and other creditors are then subsequently measured at amortised cost using the effective interest method unless the effects of discounting would be considered immaterial. If the effects of discounting are judged to be immaterial, trade and other creditors are stated at cost. Trade creditors are not interest-bearing.

Provisions for liabilities

Provisions are recognised within the financial statements when:

a) the company has a present legal or constructive obligation as a result of a past event;

b) it is probable (ie, more likely than not) that an outflow of economic benefits will be required to settle the obligation; and

c) a reliable estimate of the cost to settle the obligation can be made.

Provisions are measured at the present value of the expenditures expected to be required in order to settle the obligation using a pre-tax rate which reflects current market assessments of the time value of money and the risks which are specific to the obligation. Increases in the provision at each balance sheet date attributable to the passage of time are recognised in profit or loss as an interest expense.

Derivative financial instruments

The company uses forward foreign currency contracts to reduce its exposure to risk arising from changes in foreign currency rates. Derivative financial instruments are initially recognised at fair value on the date the contract is entered into. Such instruments are then subsequently measured at fair value with changes in fair value being recognised in profit or loss within cost of sales. The company does not use hedge accounting for foreign exchange derivative financial instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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

Transactions in currencies other than the functional currency are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the balance sheet date. All differences are taken to profit or loss.

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.

Fixed asset investments

Fixed asset investments relate to classic cars. These investments are initially recognised at their transaction value and subsequently at fair value at the end of each reporting period.

The maintenance costs are charged to the profit and loss account in the year incurred.

4.

TURNOVER

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

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

2025

2024

£

£

Wholesale and distribution

43,581,842

43,404,283

Stock handling

84,417

144,789

43,666,259

43,549,072

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,456,843

1,859,457

Social security costs

328,165

210,071

Other pension costs

116,879

153,418

2,901,887

2,222,946

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

2025

2024

Administration

12

10

Operations

20

24

Distribution

7

8

Sales

3

3

42

45

2025

2024

£

£

Directors' remuneration

1,041,557

423,880

Directors' pension contributions to money purchase schemes

87,587

123,266

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

Money purchase schemes

1

1

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

1,019,999

405,000

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Other operating leases

42,999

38,310

Depreciation - owned assets

200,112

184,921

Loss/(profit) on disposal of fixed assets

11,876

(11,607

)

Auditors' remuneration

10,100

9,800

Auditors' remuneration - non-audit services

25,129

26,826

Foreign exchange

253,142

(175,812

)

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest on late payment of corporation tax

2,404

22,864

Hire purchase

-

584

2,404

23,448