REGISTERED NUMBER: 02701780 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2025

FOR

DAVID AUSTIN ROSES 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

Notes to the Financial Statements

13

DIRECTORS:

Mr R D C Austin

Miss S E Oldham

Mr T Smith

Mr J H Austin

Miss O R Austin

SECRETARY:

Mr T Smith

REGISTERED OFFICE:

Bowling Green Lane

Albrighton

Wolverhampton

WV7 3HB

REGISTERED NUMBER:

02701780 (England and Wales)

AUDITORS:

Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

BANKERS:

HSBC Bank plc

Lichfield Street

PO Box 33

9 Queen Square

Wolverhampton

West Midlands

WV1 1TE

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

REVIEW OF BUSINESS

Turnover for the year decreased from £29,997,495 to £28,493,298 for the year ended 31 July 2025.

While unit sales in the UK continued to improve, trading in the US was adversely affected by stock availability issues. The Company continues to purchase a significant proportion of its rose stock under fixed-price contracts, which require payment for both saleable and unsaleable product. As a consequence, the gross profit margin decreased to 47.01% (2024: 48.95%).

As a result of the reduction in turnover and gross margin, together with continued investment in the workforce to support the long-term development of the business, operating profit decreased from £3,293,537 to £1,099,099. Stock availability issues in the US have improved for the 2026 year.

The Directors remain confident that the Company is well positioned to deliver improved financial performance in future periods.

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in competitive markets and would be adversely impacted by potential further tough economic conditions in the future. It has significant overseas sales, particularly in the USA, rendering it susceptible to adverse foreign currency movements. The directors continue to strengthen the company's branding so as to make it as resistant as possible to tough economic conditions and mitigate foreign exchange risks via the use of currency options and derivatives.

Adverse weather conditions could impact upon growing crop quality and yields within the company's supply chain. The company mitigates this risk via the use of multiple growers in various geographical locations.

KEY PERFORMANCE INDICATORS

Indicator

2025

2024

Turnover

£28,493,298

£29,997,495

Gross profit margin

47.01%

48.95%

Operating profit

£1,099,099

£3,293,537

Net assets

£19,839,411

£19,905,190

Cash

£6,067,842

£7,110,802

ON BEHALF OF THE BOARD:

Miss S E Oldham - Director

23rd July 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of rose breeding, wholesaling, licensing, plant centre operation and retailing.

DIVIDENDS

Dividends of £810,000 (2024: £1,900,000) were paid during the year.

RESEARCH AND DEVELOPMENT

The company continues to commit substantial funds into research and development activities where its extensive breeding programme continues to facilitate the development of new varieties and is viewed by the director as a foundation for future success. Total research and development costs were £907,240 (2024: £756,305)

DIRECTORS

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

Mr R D C Austin

Miss S E Oldham

Mr T Smith

Other changes in directors holding office are as follows:

Mr J H Austin and Miss O R Austin were appointed as directors after 31st July 2025 but prior to the date of this report.

Mr D J C Austin ceased to be a director after 31st July 2025 but prior to the date of this 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:

Miss S E Oldham - Director

23rd July 2026

Opinion

We have audited the financial statements of David Austin Roses Limited (the 'company') for the year ended 31st July 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 31st July 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 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.

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:

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain

professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or

error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is

sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material

misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,

forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.

- Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the

disclosures, and whether the financial statements represent the underlying transactions and events in a

manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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

Use of our report

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

Darren Foot FCA (Senior Statutory Auditor)

for and on behalf of Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

23rd July 2026

29,997,495

TURNOVER

3

28,493,298

15,313,864

Cost of sales

15,077,093

14,683,631

GROSS PROFIT

13,416,205

11,390,094

Administrative expenses

12,317,106

3,293,537

OPERATING PROFIT

6

1,099,099

69,427

Interest receivable and similar income

7

106,838

3,362,964

PROFIT BEFORE TAXATION

1,205,937

1,062,501

Tax on profit

8

361,771

2,300,463

PROFIT FOR THE FINANCIAL YEAR

844,166

2,300,463

PROFIT FOR THE YEAR

844,166

OTHER COMPREHENSIVE LOSS

(46,074

)

Retranslation foreign operations

(99,945

)

-

Income tax relating to other comprehensive loss

-

(46,074

)

OTHER COMPREHENSIVE LOSS FOR THE YEAR, NET OF INCOME TAX

(99,945

)

2,254,389

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

744,221

FIXED ASSETS

11,234,135

Tangible assets

10

12,714,756

33,582

Investments

11

33,582

11,267,717

12,748,338

CURRENT ASSETS

4,222,293

Stocks

12

4,644,730

2,232,807

Debtors

13

1,781,773

7,110,802

Cash at bank

6,067,842

13,565,902

12,494,345

CREDITORS

4,527,343

Amounts falling due within one year

14

4,748,301

9,038,559

NET CURRENT ASSETS

7,746,044

20,306,276

TOTAL ASSETS LESS CURRENT LIABILITIES

20,494,382

401,086

PROVISIONS FOR LIABILITIES

16

654,971

19,905,190

NET ASSETS

19,839,411

CAPITAL AND RESERVES

5,320

Called up share capital

17

5,320

5,576

Share premium

18

5,576

4,680

Capital redemption reserve

18

4,680

(126,835

)

Foreign exchange reserve

18

(226,780

)

20,016,449

Retained earnings

18

20,050,615

19,905,190

SHAREHOLDERS' FUNDS

19,839,411

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 23rd July 2026 and were signed on its behalf by:

Miss S E Oldham - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1st August 2023

5,320

19,615,986

5,576

Changes in equity

Dividends

-

(1,900,000

)

-

Total comprehensive income

-

2,300,463

-

Balance at 31st July 2024

5,320

20,016,449

5,576

Changes in equity

Dividends

-

(810,000

)

-

Total comprehensive income

-

844,166

-

Balance at 31st July 2025

5,320

20,050,615

5,576

Capital

Foreign

redemption

exchange

Total

reserve

reserve

equity

£

£

£

Balance at 1st August 2023

4,680

(80,761

)

19,550,801

Changes in equity

Dividends

-

-

(1,900,000

)

Total comprehensive income

-

(46,074

)

2,254,389

Balance at 31st July 2024

4,680

(126,835

)

19,905,190

Changes in equity

Dividends

-

-

(810,000

)

Total comprehensive income

-

(99,945

)

744,221

Balance at 31st July 2025

4,680

(226,780

)

19,839,411

1.	STATUTORY INFORMATION

David Austin Roses 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.

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.

The financial statements are prepared in Sterling and rounded to the nearest £1.

The financial statements contain information about David Austin Roses Limited as an individual company and do not contain consolidated financial information as the parent of a group. David Austin Holdings Limited, the company's parent undertaking, prepares consolidated financial statements in which the results of David Austin Roses Limited and its subsidiary undertaking are included. The consolidated financial statements of David Austin Holdings Limited are separately available.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.

The company is entitled to the above exemptions as the information is included in the consolidated financial statements of the company's ultimate parent undertaking David Austin Roses Holdings Limited.

Turnover

Turnover represents the net amount invoiced by the company to external customers for goods and services excluding value added tax. Turnover is recognised when the risks and rewards of owning the goods has been passed to the customer which is generally on delivery.

Licensing income is included in turnover and is recognised in line with agreements with licensees, either based upon the sales to external customers of the license or at the point of propagation.

Interest income

Interest income is recognised using the effective interest method.

Tangible fixed assets

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

Freehold property

-

1% on cost

Plant and machinery

-

25% on cost, 20% on cost and 10% on cost

Motor vehicles

-

25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Assets are depreciated from the date that they are brought into use.

Freehold land is not depreciated.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amounts of any affected asset is estimated and compared to the carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised immediately in the income statement.

Stocks

Externally grown growing stock is valued at the estimated cost to bring the goods to their current condition based on the contractual purchase price of the goods.

Internally grown stock, including roses held for resale and consumable materials used in rose production is valued at the lower of average cost and net realisable value.

Remaining stock is valued at the lower of cost, on a FIFO basis, and net realisable value.

All stocks are reviewed annually for indicators of impairment due to slow moving or obsolete items, with impairments recorded in the statement of comprehensive income.

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 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 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.

Research and development

The company undertakes research and development so as to pursue its fundamental aim of developing rose varieties free of disease. The company's policy is not to capitalise and carry forward costs incurred due to the highly speculative nature of the work.

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.

Investments

Investments in subsidiaries have been included at cost less impairment, in line with FRS102.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses from impairment are recognised in the income statement in other administration expenses.

Financing transactions

Basic financial instruments are initially measured 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. Under FRS102, intercompany loans are recorded at present value using a market rate for a similar instrument.

Financial instruments measured at fair value

The company enters into foreign currency options to reduce its exposure to fluctuations in exchange rates. The instruments are recorded at their fair value which is measured at each balance sheet date based on observable market rates.

Foreign currencies

In accordance with FRS102, foreign currency transactions are translated at the rates ruling when they occurred. Foreign currency monetary assets and liabilities are translated at the balance sheet date using the spot rate of exchange. Any differences are taken to the income statement.

Foreign operations with differing functional currencies are retranslated into the presentational currency of the company using the consolidation rules under FRS102. Income and expenditure are translated at a rate which approximates the rate prevailing at the date of the transaction, being the average rate for the year. Assets and liabilities are translated at the spot rate prevailing at the balance sheet date. Differences arising on retranslation of the foreign operations are taken to the statement of comprehensive income as other comprehensive income.

Group relief

The benefit of group relief is accounted for within the tax charge of the profit making undertaking. No payment is made for group relief between group undertakings.

3.

TURNOVER

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

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

31.7.25

31.7.24

£

£

Sales of goods

25,921,779

27,315,025

Licensing and royalties

2,571,519

2,682,470

28,493,298

29,997,495

An analysis of turnover by geographical market is given below:

31.7.25

31.7.24

£

£

United Kingdom

17,743,188

16,377,039

Europe

1,458,222

2,406,742

Rest of the world

9,291,888

11,213,714

28,493,298

29,997,495

4.	EMPLOYEES AND DIRECTORS

31.7.25

31.7.24

£

£

Wages and salaries

8,042,469

7,836,264

Social security costs

947,805

769,045

Other pension costs

377,361

407,921

9,367,635

9,013,230

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

31.7.25

31.7.24

Selling and administration

120

115

Production and breeding

141

135

261

250

5.	DIRECTORS' EMOLUMENTS

31.7.25

31.7.24

£

£

Directors' remuneration

840,043

687,837

Directors' pension contributions to money purchase schemes

83,718

50,500

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

Money purchase schemes

3

2

Information regarding the highest paid director is as follows:

31.7.25

31.7.24

£

£

Emoluments etc

273,484

251,840

6.	OPERATING PROFIT

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

31.7.25

31.7.24

£

£

Hire of equipment

80,781

87,182

Depreciation - owned assets

1,061,288

967,779

Profit on disposal of fixed assets

(5,995

)

-

Auditors' remuneration

66,572

36,190

Foreign exchange differences

188,101

63,904

Research and development costs

907,240

756,305

7.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.7.25

31.7.24

£

£

Interest income

106,838

46,838

Interest on corporation tax

-

22,589

106,838

69,427

8.

TAXATION

Analysis of the tax charge

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

31.7.25

31.7.24

£

£

Current tax:

UK corporation tax

107,747

665,377

Under/(over) provision in prior year

-

322,900

Patent box

-

(198,109

)

Double taxation relief

(135,917

)

(296,780

)

Overseas tax

136,056

473,178

Total current tax

107,886

966,566

Deferred tax

253,885

95,935

Tax on profit

361,771

1,062,501

Reconciliation of total tax charge included in profit and loss

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

31.7.25

31.7.24

£

£

Profit before tax

1,205,937

3,362,964

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

301,484

840,741

Effects of:

Expenses not deductible for tax purposes

9,555

31,921

Capital allowances in excess of depreciation

(120,252

)

(18,209

)

Research and development

(136,086

)

(189,076

)

Other timing differences

-

322,900

Patent box claim

(14,524

)

(198,109

)

Overseas taxes

67,709

176,398

Deferred tax

253,885

95,935

Total tax charge

361,771

1,062,501

Tax effects relating to effects of other comprehensive income

31.7.25

Gross

Tax

Net

£

£

£

Retranslation foreign operations

(99,945

)

-

(99,945

)

31.7.24

Gross

Tax

Net

£

£

£

Retranslation foreign operations

(46,074

)

-

(46,074

)

The company expects the UK tax charge to continue to be lower than the standard rate in the UK due to substantial ongoing research and development activities and claims under the patent box regime.

9.

DIVIDENDS

During the year dividends of £810,000 (2024: £1,900,000) were paid to shareholders.