REGISTERED NUMBER: 00637941 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Period 27 October 2024 to 25 October 2025

for

Fosters Bakery (Staincross) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

16

DIRECTORS:

Dr J R Foster

I T Taylor

SECRETARY:

Dr J R Foster

REGISTERED OFFICE:

Fosters Bakery, Towngate

Mapplewell

Barnsley

South Yorkshire

S75 6AS

REGISTERED NUMBER:

00637941 (England and Wales)

INDEPENDENT AUDITORS:

Paul Howley & Co Ltd

Chartered Certified Accountants

Statutory Auditors

Suite 5, First Floor

1 Beevor Court

Off Pontefract Road

Barnsley

South Yorkshire

S71 1HG

BANKERS:

Barclays Bank Plc

Leicester

Leicestershire

LE87 2BB

The directors present their strategic report for the period 27 October 2024 to 25 October 2025.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the period end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties that we face.

The company continues to have a broad customer base supplying a variety of baked goods in the UK, Europe, the Middle East and Far East.

We consider that our key performance indicators are those that communicate the financial performance and strength of the company as a whole, those being turnover, gross margin and profit before taxation.

Global conflicts continue to affect energy costs, which continue to be mitigated in part by previous investments in Solar Power and Combined Heat and Power plant. Turnover has fallen slightly from £10,330k in 2024 to £10,264k in 2025, representing a fall of 0.6% from the prior year. Gross profit margin percentage reduced slightly to 27.9% (2024: 29.3%) due to increased cost pressures and employment costs. The company generated a pre-tax profit of £369k (2024:£409k). As expected the main pressures on pre-tax profit arose from increased staff costs.

A healthy balance sheet has been retained with increased shareholders' funds of £7,675k (2024: £7,582k) after payment of a £200k dividend.

The company has maintained a good food safety system retaining 'AA' status in the BRC Global Food Standard Issue 9.

Health and safety is of great importance to the company. It continues to look after the health, safety and welfare of its staff and other stakeholders with involvement from employee representatives.

The company endeavors to be respectful and fair in all dealings with business partners, staff and other stakeholders - representing the Company Vision "to be your favorite baker". Promoting goodwill and loyalty remains a key focus as demonstrated by prompt and early payment terms for staff and suppliers. The business supports a number of regional and local charitable activities plus, this year, an international bakery-focused charity.

The Company has now established a solid operation base and intends now to place a higher focus on marketing activities to facilitate increased turnover.

In the current year, turnover to date has increased by approximately 10%. However, profitability has declined as a result of increased cost pressures, particularly those arising from higher taxation on businesses and employment introduced by the UK Government.

The directors remain acutely aware of the ongoing cost challenges facing both the Company and its business partners and continue to monitor these pressures closely while taking appropriate measures to manage their impact.

Despite these challenges, the Company remains in a strong financial position, supported by significant cash reserves, and the directors are confident in its ability to continue trading successfully and pursue future opportunities.

ON BEHALF OF THE BOARD:

Dr J R Foster - Director

22 July 2026

The directors present their report with the financial statements of the company for the period 27 October 2024 to 25 October 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of bakers and confectioners.

DIVIDENDS

An interim dividend of £101.50 per share was paid on 24 October 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 25 October 2025 will be £ 200,057 .

DIRECTORS

The directors shown below have held office during the whole of the period from 27 October 2024 to the date of this report.

Dr J R Foster

I T Taylor

DISCLOSURE IN THE STRATEGIC REPORT

As permitted by S414c(11) of the Companies Act 2006 certain information to be contained in the directors' report as required by Schedule 7 to SI 2008/410 is included in the company's 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). 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Paul Howley & Co Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Dr J R Foster - Director

22 July 2026

Opinion

We have audited the financial statements of Fosters Bakery (Staincross) Limited (the 'company') for the period ended 25 October 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 25 October 2025 and of its 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 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 three, 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to 2006 Companies Act, relevant tax legislation, environmental and consumer rights regulation and anti-bribery and corruption legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls), and determined the principal risks. Audit procedures performed by the engagement team included:

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

- Enquiries of the directors and management to identify any instances of non-compliance including consideration of known or suspected instances of fraud;

- Evaluation of management's internal controls designed to prevent and detect irregularities;

- Review of meeting minutes, and where applicable, correspondence with relevant regulatory authorities;

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

- Performed physical verification of tangible fixed assets to confirm existence and ownership;

- Investigated the rationale behind significant or unusual transactions;

- Detailed testing of journal entries and assumptions made.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected it the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Paul Berry (Senior Statutory Auditor)

for and on behalf of Paul Howley & Co Ltd

Chartered Certified Accountants

Statutory Auditors

Suite 5, First Floor

1 Beevor Court

Off Pontefract Road

Barnsley

South Yorkshire

S71 1HG

22 July 2026

TURNOVER

3

10,263,679

10,329,514

Cost of sales

7,399,589

7,305,301

GROSS PROFIT

2,864,090

3,024,213

Administrative expenses

2,800,462

2,975,046

63,628

49,167

Other operating income

29,332

30,109

Gain/loss on revaluation of current asset investments

87,415

113,174

OPERATING PROFIT

5

180,375

192,450

Interest receivable and similar income

6

188,312

216,638

PROFIT BEFORE TAXATION

368,687

409,088

Tax on profit

7

75,283

83,903

PROFIT FOR THE FINANCIAL PERIOD

293,404

325,185

PROFIT FOR THE PERIOD

293,404

325,185

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

293,404

325,185

FIXED ASSETS

Tangible assets

9

1,502,064

1,620,927

Investments

10

100

100

Investment property

11

130,000

130,000

1,632,164

1,751,027

CURRENT ASSETS

Stocks

12

529,676

731,231

Debtors

13

1,477,515

1,267,034

Investments

14

798,341

710,926

Cash at bank

4,516,352

4,439,059

7,321,884

7,148,250

CREDITORS

Amounts falling due within one year

15

1,043,591

1,051,146

NET CURRENT ASSETS

6,278,293

6,097,104

TOTAL ASSETS LESS CURRENT LIABILITIES

7,910,457

7,848,131

CREDITORS

Amounts falling due after more than one year

16

(3,205

)

(4,026

)

PROVISIONS FOR LIABILITIES

18

(232,300

)

(262,500

)

NET ASSETS

7,674,952

7,581,605

CAPITAL AND RESERVES

Called up share capital

19

1,971

1,971

Capital redemption reserve

20

29

29

Retained earnings

20

7,672,952

7,579,605

SHAREHOLDERS' FUNDS

7,674,952

7,581,605

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2026 and were signed on its behalf by:

Dr J R Foster - Director

I T Taylor - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 29 October 2023

1,971

7,454,477

29

7,456,477

Changes in equity

Dividends

-

(200,057

)

-

(200,057

)

Total comprehensive income

-

325,185

-

325,185

Balance at 26 October 2024

1,971

7,579,605

29

7,581,605

Changes in equity

Dividends

-

(200,057

)

-

(200,057

)

Total comprehensive income

-

293,404

-

293,404

Balance at 25 October 2025

1,971

7,672,952

29

7,674,952

Cash flows from operating activities

Cash generated from operations

1

394,266

516,372

Tax paid

(167,846

)

(106,098

)

Net cash from operating activities

226,420

410,274

Cash flows from investing activities

Purchase of tangible fixed assets

(230,608

)

(144,274

)

Sale of tangible fixed assets

87,945

24,000

Interest received

193,593

197,369

Net cash from investing activities

50,930

77,095

Cash flows from financing activities

Equity dividends paid

(200,057

)

(200,057

)

Net cash from financing activities

(200,057

)

(200,057

)

Increase in cash and cash equivalents

77,293

287,312

Cash and cash equivalents at beginning of period

2

4,439,059

4,151,747

Cash and cash equivalents at end of period

2

4,516,352

4,439,059

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

Period

Period

27.10.24

29.10.23

to

to

25.10.25

26.10.24

£

£

Profit before taxation

368,687

409,088

Depreciation charges

281,241

328,194

(Profit)/loss on disposal of fixed assets

(19,715

)

1,517

Gain on revaluation of fixed assets

(87,415

)

(113,174

)

Finance income

(188,312

)

(216,638

)

354,486

408,987

Decrease/(increase) in stocks

201,555

(83,854

)

(Increase)/decrease in trade and other debtors

(215,762

)

328,030

Increase/(decrease) in trade and other creditors

53,987

(136,791

)

Cash generated from operations

394,266

516,372

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 25 October 2025

25.10.25

27.10.24

£

£

Cash and cash equivalents

4,516,352

4,439,059

Period ended 26 October 2024

26.10.24

29.10.23

£

£

Cash and cash equivalents

4,439,059

4,151,747

3.	ANALYSIS OF CHANGES IN NET FUNDS

Other

non-cash

At 27.10.24

Cash flow

changes

At 25.10.25

£

£

£

£

Net cash

Cash at bank

4,439,059

77,293

4,516,352

4,439,059

77,293

4,516,352

Liquid resources

Current asset

investments

710,926

-

87,415

798,341

710,926

-

87,415

798,341

Total

5,149,985

77,293

87,415

5,314,693

1.	STATUTORY INFORMATION

Fosters Bakery (Staincross) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company 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.

Significant judgements and estimates

In the application of the company’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.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, and it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Freehold property

-

Straight line over 50 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on cost and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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

Investment property

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

Stocks

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

Cost is calculated using the first-in, first-out method and includes all direct costs of production in bringing stocks to their present location and condition.

Financial instruments

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

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

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

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 method 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.

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 company 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 company 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 payments 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

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 though 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments

Equity instruments issued by the company 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 company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Taxation

Taxation for the period 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 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

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.

Cash at bank and in hand

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 95 days or less, and bank overdrafts.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

Period

Period

27.10.24

29.10.23

to

to

25.10.25

26.10.24

£

£

United Kingdom

9,547,924

9,533,739

Rest of the world

715,755

795,775

10,263,679

10,329,514

All turnover is generated from the sale of goods.

4.	EMPLOYEES AND DIRECTORS

Period

Period

27.10.24

29.10.23

to

to

25.10.25

26.10.24

£

£

Wages and salaries

3,544,888

3,590,019

Social security costs

380,094

299,466

Other pension costs

248,212

260,758

4,173,194

4,150,243

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

Period

Period

27.10.24

29.10.23

to

to

25.10.25

26.10.24

Production

101

112

Distribution

9

9

Office and management

15

14

Engineering and cleaners

12

12

137

147