REGISTERED NUMBER: 01576479 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 October 2025

for

Claydon Yield-O-Meter Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

J Claydon

D Claydon

S Claydon

O Claydon

SECRETARY:

D Claydon

REGISTERED OFFICE:

Gaines Hall

Attleton Green

Wickhambrook

Newmarket

Suffolk

CB8 8YA

REGISTERED NUMBER:

01576479 (England and Wales)

AUDITORS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

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

REVIEW OF BUSINESS

The year ended 31 December 2025 has been a challenging trading period for the Company. Revenue and profitability were significantly impacted by weaker market conditions within the agricultural sector, reduced customer confidence and ongoing economic uncertainty affecting investment decisions by farming businesses in both the UK and European markets. Despite these challenges, the directors believe that the business has responded effectively to difficult trading conditions and has continued to position itself for future growth.

The directors monitor the following key performance indicators:

2025

2024

£'000000

£'000000

Turnover

8,469

13,854

Gross profit

2,677

5,243

Net (loss)/profit

(437

)

1,730

Net assets

5,567

7,918

Following three exceptionally strong trading years, during which the Company achieved record levels of sales and profitability, the current year saw a significant reduction in demand from the agricultural sector. Historically, the Company's principal revenue streams have been generated from the sale of Hybrid Trailed Drills to European customers and Hybrid Mounted Drills within the UK market, supplemented by sales of Straw Harrow, TerraStar and Terrablade products, together with recurring spare parts revenue.

Market conditions during the year were adversely affected by lower agricultural commodity prices, which reduced farm profitability and delayed capital investment decisions. In addition, uncertainty surrounding agricultural support schemes and changes to government policies resulted in a cautious trading environment across the sector. These factors contributed to reduced order intake and lower turnover compared with the previous year.

The directors have maintained a strong focus on cash generation and working capital management throughout the year. Inventory levels have been reduced, enabling the release of cash whilst continuing to ensure the availability of machines and components to meet customer demand at short notice. The business continues to monitor raw material costs closely, particularly steel and tungsten carbide, which remain important factors in determining product profitability and pricing strategy.

Despite the difficult trading environment, investment in product development has continued. During the year the Company further enhanced its product range with the development and launch of front hopper and toolbar variants of the Evo drill range. These innovations have been designed to meet evolving customer requirements and to support participation in agricultural grant-funded schemes where available. The directors believe these new products will provide opportunities to expand the Company's presence in both UK and European markets in future years.

Whilst the results for the year are below targets, the directors remain confident in the long-term prospects of the business. The Company has a strong reputation within its sector, an established customer base and a history of product innovation. These strengths, together with continued focus on operational efficiency and product development, position the business well to benefit when market conditions improve.

PRINCIPAL RISKS AND UNCERTAINTIES

During the course of its business the company is exposed to relatively low levels of financial risks which are dealt with in the next section.

Other risks include but are not limited to the failure to comply with legislative and regulatory requirements including environmental and litigation failures, business continuity and the actions of customers and competitors. The company has implemented risk controls and loss mitigation plans but cannot give absolute assurance that such procedures will be effective in identifying or controlling each of the operational risks faced by the company.

FINANCIAL RISK MANAGEMENT POLICIES

The overall aim of the company financial risk management policy is to minimise potential adverse effects on financial performance and net assets. In the course of the business, the company is exposed primarily to foreign exchange risk, liquidity risk, credit risk and interest rate risk.

The company manages the principal financial risk within policies and operating parameters approved by the Board of Directors. The company does not enter into speculative transactions.

i) Foreign currency risk

The company operates domestically and overseas. The company does hedge certain cash flows when the directors believe this to be appropriate.

ii) Liquidity risk

The company's policy on liquidity risk is to ensure that sufficient cash is available to fund on-going operations without the need to carry significant net debt. Where appropriate financing can be negotiated, assets may be purchased under finance lease agreement. The extent of this financing is not considered material.

iii) Credit risk

Credit risk arises on financial instruments such as trade receivables. Policies and procedures exist to ensure that

customers have an appropriate credit history. Machinery is generally not released to customers until payment is received in full. Overall, the company considers that it is not exposed to a significant amount of credit risk.

iv) Interest rate risk

The Company is exposed to interest rate risk through its cash balances and any borrowings subject to variable interest rates. Management monitors interest rate movements on an ongoing basis and seeks to mitigate exposure by maintaining an appropriate mix of financing arrangements and regularly reviewing banking facilities. The Directors consider the Company's exposure to interest rate risk to be limited and do not consider any significant adverse impact from reasonably possible changes in interest rates.

OUTLOOK AHEAD

Management are focused on continued product development and identifying new products and markets in which to trade.

ON BEHALF OF THE BOARD:

O Claydon - Director

30 July 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture and sale of specialised agricultural machinery to the farming industry.

DIVIDENDS

The total distribution of dividends for the period ended 31 October 2025 is £1,913,914 (2024: £156,000)

DIRECTORS

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

J Claydon

D Claydon

S Claydon

O Claydon

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the director's report. It has done so in respect of principal risks and uncertainties.

DIRECTORS' RESPONSIBILITIES STATEMENT

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 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.

AUDITORS

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

ON BEHALF OF THE BOARD:

O Claydon - Director

30 July 2026

Opinion

We have audited the financial statements of Claydon Yield-O-Meter Limited (the 'company') for the year ended 31 October 2025 which comprise the Statement of 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 31 October 2025 and of its loss 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 Directors' Responsibilities Statement 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:

Our approach was as follows:-

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that related to the reporting framework (FRS 102 and Companies Act 2006).

We obtained an understanding to how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through correspondence with management and a review of any correspondence received from regulatory bodies.

We assessed the susceptivity of the company's financial statements to material misstatement, including how fraud might occur by meeting with management from various parts of the business to understand the systems and controls of the company.

Based on our understanding we designed our audit procedures to identify non-compliance with such laws and regulations identified in the paragraphs above. Our procedures involved; journal entry testing; focusing on manual journals and journals indicating large or unusual transactions based on our understanding of the business; enquiries of management and focused testing in relation to revenue and management override.

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.

Kristi Johnson ACA CTA (Senior Statutory Auditor)

for and on behalf of Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

30 July 2026

TURNOVER

3

8,468,889

13,854,053

Cost of sales

5,791,439

8,610,936

GROSS PROFIT

2,677,450

5,243,117

Administrative expenses

3,041,076

2,851,497

(363,626

)

2,391,620

Other operating income

9,285

12,462

OPERATING (LOSS)/PROFIT

5

(354,341

)

2,404,082

Exceptional items

6

126,975

-

(481,316

)

2,404,082

Interest receivable and similar income

39,920

3,946

(441,396

)

2,408,028

Interest payable and similar expenses

7

61,229

77,287

(LOSS)/PROFIT BEFORE TAXATION

(502,625

)

2,330,741

Tax on (loss)/profit

8

(65,697

)

600,262

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(436,928

)

1,730,479

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(436,928

)

1,730,479

FIXED ASSETS

Tangible assets

10

411,878

2,311,530

Investments

11

62,500

62,500

474,378

2,374,030

CURRENT ASSETS

Stocks

12

4,662,633

5,300,499

Debtors

13

1,040,420

961,802

Cash at bank and in hand

1,936,378

2,665,167

7,639,431

8,927,468

CREDITORS

Amounts falling due within one year

14

1,310,143

1,857,818

NET CURRENT ASSETS

6,329,288

7,069,650

TOTAL ASSETS LESS CURRENT LIABILITIES

6,803,666

9,443,680

CREDITORS

Amounts falling due after more than one year

15

(1,034,514

)

(1,209,516

)

PROVISIONS FOR LIABILITIES

19

(202,485

)

(316,655

)

NET ASSETS

5,566,667

7,917,509

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

5,566,567

7,917,409

SHAREHOLDERS' FUNDS

5,566,667

7,917,509

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2026 and were signed on its behalf by:

O Claydon - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 November 2023

100

6,342,930

6,343,030

Changes in equity

Dividends

-

(156,000

)

(156,000

)

Total comprehensive income

-

1,730,479

1,730,479

Balance at 31 October 2024

100

7,917,409

7,917,509

Changes in equity

Dividends

-

(1,913,914

)

(1,913,914

)

Total comprehensive income

-

(436,928

)

(436,928

)

Balance at 31 October 2025

100

5,566,567

5,566,667

1.	STATUTORY INFORMATION

Claydon Yield-O-Meter 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.

Going concern

The directors have prepared cash flow forecasts and projections covering a period of at least 12 months from the date of approval of these financial statements. These forecasts indicate that, with the continued financial support of the company's parent undertaking, the company will have sufficient financial resources and liquidity to meet its obligations as they fall due throughout the forecast period.

In preparing these forecasts, the directors have considered the company's current trading performance, available cash resources and reasonably foreseeable downside scenarios. The forecasts demonstrate that, whilst the company is dependent upon ongoing support from its parent undertaking, adequate funds are expected to be available to enable the company to continue trading and to meet its liabilities as they fall due.

The parent undertaking has confirmed its intention to provide such financial support for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore adopted the going concern basis in preparing these financial statements.

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 requirements of paragraphs 33.7, Key Management personnel compensation.

Preparation of consolidated financial statements

The financial statements contain information about Claydon Yield-O-Meter Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Claydon Family Holdings Limited, Lake House, Market Hill, Royston, Hertfordshire, SG8 9JN.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means that actual outcomes could differ from those estimates. The following judgements have had a significant effect on amounts recognised in the financial statements:

a) The warranty provision included in the accounts is estimated on a monthly basis using the total revenue of finished goods and historical warranty cost data. The current years' warranty expense is compared to the previous years' provision to aid management in applying the most appropriate rate possible.

b) The annual depreciation charge for all assets is sensitive to changes in the estimated useful economic

lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually.

c) A stock provision is made for slow moving stock. Where the stock provision does not adequately write down the value of certain parts and machines an additional provision is made.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Where payments are received from customers in advance of the delivery of goods, the amounts are recorded as deferred income and included as part of creditors due within one year.

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

-

No depreciation

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 purchase, transport, and handling costs in bringing stocks to their present location and condition.

A stock provision is provided in the accounts against the total valuation of parts stock on a monthly basis. If this provision does not adequately write down the value of certain parts to the correct value, an additional impairment is included in the accounts to ensure that all line items are held at the lower of cost and net realisable value. The rate of this provision is reviewed by management as appropriate.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts owed by related parties and group companies, 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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans 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.

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.

Taxation

Taxation for the year 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 year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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

Hire purchase and leasing commitments

Assets 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.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.10.25

31.10.24

£

£

United Kingdom

2,390,929

5,424,802

Europe

6,068,817

8,368,772

Asia

1,018

57,846

Oceania

8,125

2,633

8,468,889

13,854,053

4.	EMPLOYEES AND DIRECTORS

31.10.25

31.10.24

£

£

Wages and salaries

2,132,479

2,587,040

Social security costs

259,792

246,772

Other pension costs

196,090

197,990

2,588,361

3,031,802

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

31.10.25

31.10.24

Management

2

2

Production

48

51

Administration

16

22

66

75

31.10.25

31.10.24

£

£

Directors' remuneration

118,614

108,347

Directors' pension contributions to money purchase schemes

3,660

8,160

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

Money purchase schemes

2

2

5.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging/(crediting):

31.10.25

31.10.24

£

£

Hire of plant and machinery

13,170

40,778

Other operating leases

10,497

10,500

Depreciation - owned assets

128,276

139,828

Depreciation - assets on hire purchase contracts

38,689

37,883

Profit on disposal of fixed assets

(21,314

)

(15,293

)

Auditors' remuneration

26,775

27,090

Foreign exchange differences

143,026

(190,363

)

6.	EXCEPTIONAL ITEMS

31.10.25

31.10.24

£

£

Exceptional items

(126,975

)

-

During the year ended 31 October 2025, debts totalling £126,975 owed from Claydon S.A.R.L, a fellow group undertaking, were waived.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.10.25

31.10.24

£

£

Bank loan interest

54,500

64,860

HMRC interest

-

5,545

Hire purchase

6,729

6,882

61,229

77,287

8.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

31.10.25

31.10.24

£

£

Current tax:

UK corporation tax

(34,107

)

579,766

Deferred tax

(31,590

)

20,496

Tax on (loss)/profit

(65,697

)

600,262

Reconciliation of total tax (credit)/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:

31.10.25

31.10.24

£

£

(Loss)/profit before tax

(502,625

)

2,330,741

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

(125,656

)

582,685

Effects of:

Expenses not deductible for tax purposes

50,894

27,682

Adjustments to tax charge in respect of previous periods

9,065

-

Deferred tax liability utilised in the year

-

(10,105

)

Total tax (credit)/charge

(65,697

)

600,262

9.

DIVIDENDS

31.10.25

31.10.24

£

£

Ordinary shares of £1 each

Interim

1,913,914

156,000

10.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 November 2024

1,765,114

1,325,441

73,795

Additions

-

41,163

1,850

Disposals

(1,765,114

)

(173,024

)

(10,011

)

At 31 October 2025

-

1,193,580

65,634

DEPRECIATION

At 1 November 2024

-

920,955

52,413

Charge for year

-

117,130

5,458

Eliminated on disposal

-

(162,886

)

(9,686

)

At 31 October 2025

-

875,199

48,185

NET BOOK VALUE

At 31 October 2025

-

318,381

17,449

At 31 October 2024

1,765,114

404,486

21,382