REGISTERED NUMBER: 05759775 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 October 2025

for

Boutique Hotel Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

Mr C J Naylor

Mrs G A Naylor

Mrs K J Naylor

Mr R A Naylor

Mr M R Naylor

SECRETARY:

Mrs K J Naylor

REGISTERED OFFICE:

Peckforton Castle

Stone House Lane

Peckforton

Tarporley

Cheshire

CW6 9TN

REGISTERED NUMBER:

05759775 (England and Wales)

AUDITORS:

Bennett Brooks & Co Limited

Chartered Accountants

& Statutory Auditors

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

The directors present their strategic report of the company and the group for the year ended 31 October 2025.

Principal activity

The principal activity of the Group is that of hotel, wedding and leisure facilities. The principal activity of the company is that of a holding company.

Boutique Hotel Group is a proud family-owned enterprise operating a collection of distinctive venues in Cheshire, each rich in history and timeless charm. Our unwavering dedication to preserving our family business heritage has been instrumental in our ongoing success. Over the past year, the group has navigated a challenging period characterised by a slowdown in confirmed bookings, primarily attributable to the lingering effects of the pandemic. Nonetheless, we remain optimistic about future prospects, supported by positive booking trends for upcoming years.

REVIEW OF BUSINESS

Peckforton Castle

Peckforton Castle remains our flagship property, with resilient leisure and corporate divisions. While the immediate booking pipeline-particularly for weddings-was affected during the year, forward bookings for 2026 and beyond are strong. Our marketing efforts and reputation continue to support a healthy position for the Castle and a more active trading period ahead.

Inglewood Manor

Now in its seventh year within the group, Inglewood Manor remains a vital part of our portfolio. Performance this year has not met our expectations with a dip in new wedding confirmations being a major contributing factor; therefore we have focused on other revenue streams and improved operational efficiencies.

Nunsmere Hall

Nunsmere Hall's scenic setting and bespoke amenities continue to attract strong interest. Confirmed wedding bookings were lower in the year, but enquiries and reservations for 2026 onwards indicate a return to more typical booking levels. This year has been one of cautious adjustment rather than growth; operational costs have been managed carefully and the venue has maintained a steady market position.

We attribute the challenging future wedding bookings in part to the typical two year planning cycle having been delayed by recent global circumstances. With that said we are starting to see some real positivity around larger more extravagant celebrations across the group.

Trading overview and key activity

Weddings

The Group experienced a decline in confirmed wedding bookings versus prior years, reducing peak season revenue mix and placing additional pressure on total revenues. Management continue targeted sales and marketing activity to restore pre pandemic enquiry and conversion levels.

Capital Expenditure Programme

At Peckforton Castle, we are investing in refurbishments across key areas of the estate to enhance guest comfort and uphold our high standards, including guest bedrooms, event facilities, restaurant, communal and recreational amenities. During the year, works have been completed which include the full refurbishment of the 1851 Restaurant and the Lodge refurbishment, which has generated increased direct bookings and successful Airbnb listing activity. The 1851 Restaurant has a new taster menu developed with our Executive Chef which has been well received by the guests. Ongoing and planned works at the Castle include:

-

Full refurbishment of 12 bedrooms, including the Bridal Suite and upgrades to four further bedrooms.

-

Creation of The Retreat: a new 3-bed bridal apartment with a wedding preparation area, lounge, outdoor social area and hot tub, sleeping up to 10 people. This is being designed to enhance bridal night and group experiences.

-

Replacement of key public area carpets, upgrades to Ladies' and Gents' toilets, improved Wi-Fi coverage and enhanced conference equipment.

At Nunsmere Hall, investment continues in upgrading existing amenities to enhance customer experience and preserve the property's historic charm. Capital expenditure improvements during the year include replacement of carpets, refurbishment of two function suits making Oakmere multi-purpose, upgrades to Ladies', Gents' and Disabled toilets and renewal of a ground floor bathroom.

At Inglewood Manor, improvements incurred during the year comprise the redecoration of bedrooms and targeted carpet and bed replacements where required.

The renewed Barclays facilities provide continuity of funding and ability to enact the capital expenditure programme.

REVIEW OF BUSINESS - continued

Our Team and People

I am incredibly proud of our team, which remains a cornerstone of our success. This year has been challenging, with budgets constrained and operational pressures high; despite this, our senior management and frontline teams have demonstrated determination and resilience. Our colleagues consistently deliver exceptional service and memorable guest experiences.

We continue to invest in people development to retain and promote talent internally. Current initiatives include apprenticeships and degree apprenticeship programmes, and our BHG Academy which provides tailored training and progression pathways. We remain committed to expanding these programmes to ensure clear career routes and ongoing professional development.

Financial position

Management continue regular cashflow monitoring, covenant reviews and scenario planning to ensure financial resilience. Our EBITDA finished approximately 26% below budgeted EBITDA, but a 21% increase on the previous year. Budgeting and cost control measures, particularly around food, drink and energy expenses, have been effective in safeguarding profitability despite lower revenues.

PRINCIPAL RISKS AND UNCERTAINTIES

The Group faced notable inflationary pressures in the year, principally from labour, employer payroll costs, energy and food. These increases have had a significant effect on operating margins and have required active management.

-

National Minimum Wage / National Living Wage: successive updates have raised direct wage costs across hospitality roles, increasing overall wage expenditure.

-

Employer payroll costs: increases in employer payroll related costs (including National Insurance contributions and related employer costs) have added notably to employment expense.

-

Energy: wholesale energy price volatility following recent global shocks left energy costs for large, historic properties elevated compared to pre 2021 levels.

-

Food inflation: food and beverage inflation peaked in the post pandemic and energy shock period; although moderated from peak levels it remained above historical averages during our reporting period, increasing catering costs significantly.

Senior management have taken decisive steps to manage cost and revenue challenges in response to risks:

-

Tight rota control and labour productivity measures to balance service standards with efficient staffing.

-

Menu engineering, portion control, supplier negotiations and yield management to limit food cost escalation while preserving quality.

-

Energy efficiency measures and procurement strategies to reduce and stabilise energy spend.

-

Revenue initiatives: focus on growing non resident restaurant covers at the 1851 Restaurant, increasing direct bookings for the Lodge and Retreat, and strengthening the wedding sales proposition.

-

Capital investment targeted at guest experience improvements to support higher rates and conversion.

Hence primary risks actively monitored comprise:

-

Continued general and food inflation, further increases in National Minimum/Living Wage and employer payroll costs, and energy price volatility.

-

Uncertainty around business rates and potential policy changes affecting hospitality.

-

Reliance on flexible/zero hours contracts (students and seasonal workers) to provide staffing flexibility; potential regulatory change may reduce this flexibility and increase costs.

-

Macroeconomic slowdown reducing discretionary spend, with adverse effects on weddings and events demand.

Mitigations include ongoing cost control, targeted revenue development, continued capital investment to maintain differentiation, and proactive engagement with lenders.

Increases in interest rates are another area we are watching closely, as we have benefited over recent years from low cost debt.

We renewed our banking facilities at Group level with Barclays on 4 August 2025 for a further five years on substantially the same terms as the prior facility. We are hence pleased with Barclays' continuing support.

FINANCIAL INSTRUMENT RISKS

The financial instrument risks affecting the group relate to cashflow risk, credit risk and liquidity risk.

Cashflow risk is the risk that sufficient levels of cash do not flow into the business to allow working capital requirements to be met in a timely manner. The management of the timing of the cash inflows and cash outflows is achieved with the close involvement of management. Management also reviews financial information on a regular basis to determine whether further measures are needed to ensure sufficient cash inflows to the business.

Credit risk is the risk that the group will not receive full settlement on amounts due from customers. The risk of bad debts is mitigated by the group having a policy of performing credit checks or receiving payments on account for new clients when practical and ensuring that the group's exposure to any individual client is tightly controlled, through credit control policies and procedures. This includes taking deposits for wedding, room bookings and corporate events.

Liquidity risk is the risk that the group will not have sufficient funds to carry out its short and longer-term objectives. Historically, the group has managed its funding requirements through the use of bank and other debt finance providers as well as retained profits.

KEY PERFORMANCE INDICATORS

The directors monitor the business against a series of financial indicators, amongst which are:

* Occupancy levels: 76% (Budgeted 81%)

* Average Room Rate (ARR): Year-to-date is £81.90, compared to a budget of £79.15

* Payroll as a percentage of total sales: 40.4% (Budget: 37.2%)

* Gross Profit Margins:

- Food: 75% (Budget: 78%)

- Beverage: 78% (Budget: 79%)

These figures reflect our ongoing efforts to optimise operational efficiency and manage margins effectively within a challenging market environment.

FUTURE DEVELOPMENTS

At the date of signature of the financial statements, sales forward bookings are significantly stronger than in recent periods. We are observing improved wedding conversion rates and a marked return of large celebrations. It is expected that over the next 18 months our forward bookings will be extremely strong, supporting confidence in recovery and future revenue growth.

Strategic priorities comprise:

-

Restore and grow wedding enquiries and conversion through enhanced product (Retreat, Bridal Suite, 1851 Restaurant showcase) and targeted marketing.

-

Grow non-resident restaurant and leisure revenue at Peckforton Castle to complement wedding season bedroom occupancy.

-

Continue the estate wide capital expenditure programme to strengthen market positioning and support rate growth.

-

Maintain disciplined cost control, supplier management and energy efficiency measures.

-

Preserve liquidity and maintain close liaison with Barclays.

The 2024-2025 year presented significant cost and demand challenges. Despite these headwinds, the Board and senior management remain confident in the Group's long term fundamentals. We have acted decisively to control costs, invest in guest facing improvements and secure banking support. I extend my sincere thanks to the whole team for their professionalism and commitment and look forward to delivering improved trading as market conditions stabilise.

ON BEHALF OF THE BOARD:

Mr C J Naylor - Director

31 July 2026

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

DIVIDENDS

The total distribution of interim dividends for the year ended 31 October 2025 will be £528,000 (2024:£528,000).

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in Note 28 to the financial statements.

DIRECTORS

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

Mr C J Naylor

Mrs G A Naylor

Mrs K J Naylor

Mr R A Naylor

Mr M R Naylor

EMPLOYEES

The Group systematically provides employees with information on matters of concern to them, consulting them regularly, so that their views can be taken into account when making decisions that are likely to affect their interests. Employee involvement in the Group is encouraged, as achieving a common awareness on the part of all employees of the financial and economic factors affecting the Group plays a major role in its performance.

The Group recognises its responsibility to employ disabled persons in suitable employment and gives full and fair consideration to such persons, including any employee who becomes disabled, having regard to their particular aptitudes and abilities. Where practicable, disabled employees are treated equally with all other employees in respect of their eligibility for training, career development and promotion.

DISCLOSURE IN THE STRATEGIC REPORT

Review of business, future developments, principal risks and uncertainties and financial instrument risks are disclosed in the Strategic Report.

The company has chosen in accordance with section 414(c) of the Companies Act 2006 (Strategic and Directors Report) Regulations 2013 to set out in the company’s Strategic Report information required by schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulations 2008.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Bennett Brooks & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr C J Naylor - Director

31 July 2026

Opinion

We have audited the financial statements of Boutique Hotel Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 October 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 five, 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 group's and the parent 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 group or the parent 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:

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation and regulations which govern the preparation of financial statements, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue, through management bias in manipulation of accounting estimates or accounting for significant transactions outside the normal course of business. Audit procedures performed included:

- Enquiry of management around actual and potential litigation and claims and instances of non-compliance with laws and regulations;

- Auditing the risk of management override of controls, through testing journal entries and other adjustments for appropriateness, testing accounting estimates (because of the risk of management bias), and evaluating the business rationale of significant transactions outside the normal course of business; and

- Reviewing financial statement disclosures and agreeing to supporting documentation to assess compliance with applicable laws and regulations.

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

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

Use of our report

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

Matthew Bailey BSc (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Bennett Brooks & Co Limited

Chartered Accountants

& Statutory Auditors

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

31 July 2026

TURNOVER

3

11,833,187

11,481,956

Cost of sales

(6,655,649

)

(6,261,371

)

GROSS PROFIT

5,177,538

5,220,585

Administrative expenses

(3,890,637

)

(3,766,848

)

1,286,901

1,453,737

Other operating income

-

9,519

OPERATING PROFIT

5

1,286,901

1,463,256

Impairment of fixed asset investment

6

-

(140,000

)

1,286,901

1,323,256

Interest payable and similar expenses

7

(1,041,923

)

(989,520

)

PROFIT BEFORE TAXATION

244,978

333,736

Tax on profit

8

(437,593

)

(192,059

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(192,615

)

141,677

(Loss)/profit attributable to:

Owners of the parent

(193,840

)

140,500

Non-controlling interests

1,225

1,177

(192,615

)

141,677

(LOSS)/PROFIT FOR THE YEAR

(192,615

)

141,677

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(192,615

)

141,677

Total comprehensive income attributable to:

Owners of the parent

(193,840

)

140,500

Non-controlling interests

1,225

1,177

(192,615

)

141,677

FIXED ASSETS

Intangible assets

11

540,137

670,243

Tangible assets

12

30,575,575

30,302,101

Investments

13

-

-

Investment property

14

1,623,896

1,623,896

32,739,608

32,596,240

CURRENT ASSETS

Stocks

15

105,678

106,865

Debtors

16

289,502

425,624

Cash at bank and in hand

3,026,370

3,070,473

3,421,550

3,602,962

CREDITORS

Amounts falling due within one year

17

(4,658,233

)

(18,210,017

)

NET CURRENT LIABILITIES

(1,236,683

)

(14,607,055

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,502,925

17,989,185

CREDITORS

Amounts falling due after more than one year

18

(14,577,410

)

(462,428

)

PROVISIONS FOR LIABILITIES

20

(4,078,815

)

(3,959,442

)

NET ASSETS

12,846,700

13,567,315

CAPITAL AND RESERVES

Called up share capital

21

100

100

Revaluation reserve

22

9,522,135

9,522,135

Retained earnings

22

3,250,242

3,972,082

SHAREHOLDERS' FUNDS

12,772,477

13,494,317

NON-CONTROLLING INTERESTS

23

74,223

72,998

TOTAL EQUITY

12,846,700

13,567,315

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2026 and were signed on its behalf by:

Mr C J Naylor - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

142,286

213,429

Investments

13

8,002,500

8,002,500

Investment property

14

-

-

8,144,786

8,215,929

CURRENT ASSETS

Debtors

16

4,123,440

4,775,710

Cash at bank

2,188,801

1,495,625

6,312,241

6,271,335

CREDITORS

Amounts falling due within one year

17

(192,003

)

(14,482,937

)

NET CURRENT ASSETS/(LIABILITIES)

6,120,238

(8,211,602

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,265,024

4,327

CREDITORS

Amounts falling due after more than one year

18

(14,182,142

)

-

NET ASSETS

82,882

4,327

CAPITAL AND RESERVES

Called up share capital

21

100

100

Retained earnings

22

82,782

4,227

SHAREHOLDERS' FUNDS

82,882

4,327

Company's profit for the financial year

606,555

489,158

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2026 and were signed on its behalf by:

Mr C J Naylor - Director

Called up

share

Retained

Revaluation

capital

earnings

reserve

£

£

£

Balance at 1 November 2023

100

4,359,582

9,522,135

Changes in equity

Profit for the year

-

140,500

-

Total comprehensive income

-

140,500

-

Dividends

-

(528,000

)

-

Total transactions with owners, recognised directly in equity

-

(528,000

)

-

Balance at 31 October 2024

100

3,972,082

9,522,135

Changes in equity

Deficit for the year

-

(193,840

)

-

Total comprehensive income

-

(193,840

)

-

Dividends

-

(528,000

)

-

Total transactions with owners, recognised directly in equity

-

(528,000

)

-

Balance at 31 October 2025

100

3,250,242

9,522,135

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 November 2023

13,881,817

71,821

13,953,638

Changes in equity

Profit for the year

140,500

1,177

141,677

Total comprehensive income

140,500

1,177

141,677

Dividends

(528,000

)

-

(528,000

)

Total transactions with owners, recognised directly in equity

(528,000

)

-

(528,000

)

Balance at 31 October 2024

13,494,317

72,998

13,567,315

Changes in equity

Deficit for the year

(193,840

)

1,225

(192,615

)

Total comprehensive income

(193,840

)

1,225

(192,615

)

Dividends

(528,000

)

-

(528,000

)

Total transactions with owners, recognised directly in equity

(528,000

)

-

(528,000

)

Balance at 31 October 2025

12,772,477

74,223

12,846,700

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 November 2023

100

43,069

43,169

Changes in equity

Dividends

-

(528,000

)

(528,000

)

Total comprehensive income

-

489,158

489,158

Balance at 31 October 2024

100

4,227

4,327

Changes in equity

Dividends

-

(528,000

)

(528,000

)

Total comprehensive income

-

606,555

606,555

Balance at 31 October 2025

100

82,782

82,882

Cash flows from operating activities

Cash generated from operations

1

1,824,939

2,451,926

Interest paid

(938,000

)

(988,000

)

Interest element of hire purchase or finance lease rental payments paid

-

(1,520

)

Tax paid

(231,286

)

(291,450

)

Net cash from operating activities

655,653

1,170,956

Cash flows from investing activities

Purchase of intangible fixed assets

(84,051

)

(7,850

)

Purchase of tangible fixed assets

(700,205

)

(466,333

)

Net cash from investing activities

(784,256

)

(474,183

)

Cash flows from financing activities

New loans in year

1,000,000

-

Loan repayments in year

(387,500

)

(387,500

)

Capital repayments in year

-

(52,740

)

Amount introduced by directors

-

55,000

Equity dividends paid

(528,000

)

(528,000

)

Net cash from financing activities

84,500

(913,240

)

Decrease in cash and cash equivalents

(44,103

)

(216,467

)

Cash and cash equivalents at beginning of year

2

3,070,473

3,286,940

Cash and cash equivalents at end of year

2

3,026,370

3,070,473