REGISTERED NUMBER: 02283314 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Period 1 August 2024 to 31 October 2025

for

Bayley & Sage Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of 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

15

DIRECTORS:

Ms J M Allen

Mrs F D Allen

REGISTERED OFFICE:

60 High Street

Wimbledon Village

London

SW19 5EE

REGISTERED NUMBER:

02283314 (England and Wales)

AUDITORS:

Thornton Springer LLP

Chartered Accountants and

Statutory Auditor

67 Westow Street

London

SE19 3RW

The directors present their strategic report for the period ended 31 October 2025.

Bayley & Sage Ltd is a well-established independent retailer, operating 14 premium fresh food and homeware stores across Southwest and West London. With 30 years of trading experience, we have developed a deep understanding of the unique characteristics and consumer behaviours of London's village-style high streets.

Our business is built on a commitment to quality, provenance, and community. We take pride in curating seasonal, thoughtfully sourced products and delivering an in-store experience that is distinctive, welcoming, and reflective of the values of the neighbourhoods we serve

Strategic Review

The cost of living and inflation continued to shape the trading environment throughout FYE 2025. At the time of writing, inflation stands at 2.8%, a decrease from the average rate of 5.0% in 2024

As a traditional bricks-and-mortar business, our core activity remains focused on welcoming and serving our customers in-store each day. Despite the continued challenges and pressures of operating in a highly competitive market, we remain confident in the strength and resilience of the Bayley & Sage model.

We are proud to meet the increasing demand for high-quality, flavourful, and innovative products-ranging from artisanal and exclusive items to those that reflect emerging food trends. Our customers value freshness, provenance, and exceptional service, and we are committed to delivering a shopping experience that reflects these values.

We work closely with all our stakeholders to minimise waste and maximise operational efficiency. By balancing traditional product ranges with a strong emphasis on seasonality and innovation, we are able to adapt quickly to changing market dynamics while continuing to build on our strong reputation in the sector.

Our commitment to our team remains central to our success. We consistently review pay structures, including reviews of the London Living Wage. In addition, we offer a comprehensive and evolving range of staff benefits to eligible employees, including private health insurance, subsidised holiday homes, celebration and volunteering days, and enhanced annual leave allowances tied to length of service. We also recognise the unique needs of our diverse workforce-made up of more than 30 nationalities-by offering extended annual leave for those travelling long distances to visit family.

Supporting our local communities and giving back to causes close to our hearts remains a key priority. We continue to contribute through financial donations, equipment, resources, and volunteering our time.

We also take our environmental responsibilities seriously. Through initiatives such as encouraging the return of glass milk bottles, promoting reusable bags, and reducing supplier traffic to our stores, we aim to reduce our environmental footprint. We actively manage waste streams and remain committed to reducing our use of single-use plastics

Financial Review

2025 turnover increased by 34.5% with net profit at 6.1%. It is worth noting however that the accounting periods are 12 months v 15 months as explained below.

The net assets of the company at the year-end were £6,455,543.

We have continued to focus on systems and infrastructure throughout the year, with an AI driven automated ordering system currently under construction to assist stores in placing orders correctly and reducing wastage.

The financial yearend has been extended by 3 months to end 31 October, this decision has been made to align the financial reporting periods with operational periods.

We have expanded\replaced our fleet of vehicles during the year with several new commercial vans being added and continue to remain committed to the upkeep of the estate with decorations, plant and machinery upgrades\maintenance.

PRINCIPAL RISKS AND UNCERTAINTIES

In the normal course of business, the company will be exposed to the following principal risks and uncertainties:

Credit, Liquidity and Interest Rate Risk

Bayley & Sage Ltd considers all three risk areas as low as we do not have any borrowings and cash reserves in the bank are high. The company's income is driven from customer credit card transactions made at point of contact and we do not offer credit accounts to customers. Bayley & Sage manages the business through the cashflow, we produce an annual cashflow which is monitored and updated regularly.

Political Risk

We continue to closely monitor the geopolitical landscape and its potential impact on our operations. Working in close collaboration with our suppliers, we are proactively assessing risks across our logistics routes, product availability, and pricing structures to minimise disruption and ensure consistent supply to our stores.

While inflation, energy and property costs, and travel expenses remain ongoing concerns, we are confident in our ability to adapt swiftly and effectively to changing market conditions. Our flexible operating model, coupled with a strong supplier network and experienced leadership team, ensures we remain well positioned to navigate the current environment and maintain the high standards our customers expect.

ON BEHALF OF THE BOARD:

We remain deeply grateful for the continued support of the local communities in which we operate. Their loyalty and engagement are at the heart of everything we do.

The Board would also like to extend its sincere thanks to all of our team members, whose dedication and tireless efforts-seven days a week-have been instrumental in delivering the high standards of service our customers have come to expect.

We are especially proud of the commitment and resilience shown throughout 2025, and we take this opportunity to recognise and celebrate the hard work that has driven our progress over the past year.

ON BEHALF OF THE BOARD:

Ms J M Allen - Director

24 July 2026

The directors present their report with the financial statements of the company for the period 1 August 2024 to 31 October 2025.

DIVIDENDS

Interim dividends per share were paid as follows:

284.0909

- 12 May 2025

121.7532

- 13 May 2025

405.8441

The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 October 2025 will be £ 250,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2024 to the date of this report.

Ms J M Allen

Mrs F D Allen

POLITICAL DONATIONS AND EXPENDITURE

Donations totalling £14,038 declared in the financial statements were made to registered charities. The directors confirmed that the company received no benefits and no advantages in return for the amounts donated.

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 she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Thornton Springer LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ms J M Allen - Director

24 July 2026

Opinion

We have audited the financial statements of Bayley & Sage Ltd (the 'company') for the period ended 31 October 2025 which comprise the Statement of 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 31 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 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with relevant laws and regulations. Non-compliance with these laws and regulations might have a material effect on the financial statements.

We evaluated management's incentives and opportunity for fraudulent manipulation of the financial statement (including the risk of override of controls) and determined that the principal risks were posting of unusual journal entries outside the normal course of business and revenue recognition journal entries to manipulate the company's performance profit measures and other key performance indicators.

Audit procedures performed included: review of the financial statements and disclosures to underlying supporting documentation, review of compliance with the laws and regulations, enquiries with management, testing of journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

There is a presumed risk that revenue may be misstated due to the improper recognition of revenue. To address this risk, we obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard, performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions. We tested a sample of revenue transactions to supporting evidence and tested, on a sample basis, revenue related balances in the balance sheet.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. 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.

Zahid Saleem ACA FCCA MBA (Senior Statutory Auditor)

for and on behalf of Thornton Springer LLP

Chartered Accountants and

Statutory Auditor

67 Westow Street

London

SE19 3RW

27 July 2026

TURNOVER

4

38,867,195

28,896,086

Cost of sales

(20,692,698

)

(15,307,077

)

GROSS PROFIT

18,174,497

13,589,009

Administrative expenses

(16,020,393

)

(12,365,352

)

OPERATING PROFIT

7

2,154,104

1,223,657

Interest receivable and similar income

223,170

76,336

2,377,274

1,299,993

Interest payable and similar expenses

8

(2,783

)

-

PROFIT BEFORE TAXATION

2,374,491

1,299,993

Tax on profit

9

(614,454

)

(365,691

)

PROFIT FOR THE FINANCIAL PERIOD

1,760,037

934,302

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,760,037

934,302

FIXED ASSETS

Intangible assets

11

13,937

31,566

Tangible assets

12

1,619,203

1,650,962

1,633,140

1,682,528

CURRENT ASSETS

Stocks

13

1,700,624

1,049,758

Debtors

14

4,886,971

4,739,186

Cash at bank

2,209,100

636,263

8,796,695

6,425,207

CREDITORS

Amounts falling due within one year

15

(3,591,079

)

(2,800,426

)

NET CURRENT ASSETS

5,205,616

3,624,781

TOTAL ASSETS LESS CURRENT LIABILITIES

6,838,756

5,307,309

CREDITORS

Amounts falling due after more than one year

16

(30,650

)

-

PROVISIONS FOR LIABILITIES

19

(352,563

)

(361,803

)

NET ASSETS

6,455,543

4,945,506

CAPITAL AND RESERVES

Called up share capital

20

616

616

Share premium

21

69,484

69,484

Retained earnings

21

6,385,443

4,875,406

SHAREHOLDERS' FUNDS

6,455,543

4,945,506

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by:

Ms J M Allen - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 August 2023

616

3,941,104

69,484

4,011,204

Changes in equity

Total comprehensive income

-

934,302

-

934,302

Balance at 31 July 2024

616

4,875,406

69,484

4,945,506

Changes in equity

Dividends

-

(250,000

)

-

(250,000

)

Total comprehensive income

-

1,760,037

-

1,760,037

Balance at 31 October 2025

616

6,385,443

69,484

6,455,543

Cash flows from operating activities

Cash generated from operations

1

2,980,279

243,952

Interest element of hire purchase payments paid

(2,783

)

-

Tax paid

(681,889

)

(141,121

)

Net cash from operating activities

2,295,607

102,831

Cash flows from investing activities

Purchase of tangible fixed assets

(762,206

)

(601,500

)

Sale of tangible fixed assets

29,020

22,963

Interest received

223,170

76,336

Net cash from investing activities

(510,016

)

(502,201

)

Cash flows from financing activities

Capital repayments in year

37,246

-

Equity dividends paid

(250,000

)

-

Net cash from financing activities

(212,754

)

-

Increase/(decrease) in cash and cash equivalents

1,572,837

(399,370

)

Cash and cash equivalents at beginning of period

2

636,263

1,035,633

Cash and cash equivalents at end of period

2

2,209,100

636,263

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

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Profit before taxation

2,374,491

1,299,993

Depreciation charges

805,445

684,905

Profit on disposal of fixed assets

(22,870

)

(4,095

)

Finance costs

2,783

-

Finance income

(223,170

)

(76,336

)

2,936,679

1,904,467

Increase in stocks

(650,866

)

(67,418

)

Increase in trade and other debtors

(147,786

)

(1,218,159

)

Increase/(decrease) in trade and other creditors

842,252

(374,938

)

Cash generated from operations

2,980,279

243,952

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 October 2025

31.10.25

1.8.24

£

£

Cash and cash equivalents

2,209,100

636,263

Year ended 31 July 2024

31.7.24

1.8.23

£

£

Cash and cash equivalents

636,263

1,035,633

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.24

Cash flow

At 31.10.25

£

£

£

Net cash

Cash at bank

636,263

1,572,837

2,209,100

636,263

1,572,837

2,209,100

Debt

Finance leases

-

(37,246

)

(37,246

)

-

(37,246

)

(37,246

)

Total

636,263

1,535,591

2,171,854

1.	STATUTORY INFORMATION

Bayley & Sage Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 as modified by the recognition of certain financial assets and liabilities measured at fair value.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Depreciation of tangible fixed assets

Depreciation is provided so as to write down the assets to their residual values over their estimated useful lives. The selection of these residual values and estimated lives requires the exercise of management judgement.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

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.

Improvements to property

-

20% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are stated at the lower of costs and estimated selling price less costs to complete and sell. Cost is determined using the first in, first out method.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments

The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and intra-group balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at cost and amortised cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised costs, the impairment loss is measured as the difference between the asset's carrying amount and the present value of the estimated cash flow discounted at the asset's original effective interest rate.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank overdraft, intra-group balances and hire purchase contracts, 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 receipts discounted at a market rate of interest.

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

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, and, if applicable, other short-term highly liquid investments with original maturities of three months or less.

4.

TURNOVER

The total turnover of the company has been derived from its principal activity wholly undertaken in the UK.

5.	EMPLOYEES AND DIRECTORS

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Wages and salaries

8,443,182

6,576,729

Social security costs

799,111

538,636

Other pension costs

287,593

188,444

9,529,886

7,303,809

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

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

Director

1

1

Administration

29

30

Operations

200

202

230

233

6.	DIRECTORS' EMOLUMENTS

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Directors' remuneration

92,798

72,610

No retirement benefits are accruing for any directors.

7.	OPERATING PROFIT

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

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Hire of plant and machinery

81,965

73,975

Depreciation - owned assets

773,203

670,802

Depreciation - assets on hire purchase contracts

14,612

-

Profit on disposal of fixed assets

(22,870

)

(4,095

)

Computer software amortisation

17,629

14,103

Auditors' remuneration

13,000

13,000

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Hire purchase

2,783

-

9.

TAXATION

Analysis of the tax charge

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

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Current tax:

UK corporation tax

623,694

406,888

Deferred tax

(9,240

)

(41,197

)

Tax on profit

614,454

365,691

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Profit before tax

2,374,491

1,299,993

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

593,623

324,998

Effects of:

Expenses not deductible for tax purposes

4,256

2,280

Income not taxable for tax purposes

(15,541

)

(4,711

)

Depreciation in excess of capital allowances

41,356

84,321

Deferred tax

(9,240

)

(41,197

)

Total tax charge

614,454

365,691

10.

DIVIDENDS

Period

1.8.24

to

Year Ended

31.10.25

31.7.24

£

£

Ordinary shares of £1 each

Interim

250,000

-