REGISTERED NUMBER: 13619963 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 October 2025

for

SSO Group Ltd

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

19

DIRECTORS:

Mr P G Draper

Mr S McAneney

Mr J Wood

REGISTERED OFFICE:

Unit 4, The Willows

Boston Park

Wilcock Road

Haydock

WA11 9SR

REGISTERED NUMBER:

13619963 (England and Wales)

AUDITORS:

Harts Limited

Chartered Accountants and Statutory Auditors

Westminster House

10 Westminster Road

Macclesfield

Cheshire

SK10 1BX

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

REVIEW OF BUSINESS

SSO Group Limited is the holding company of two trading subsidiaries. SSO Logistics Limited provides freight transportation, contract warehousing and pallet network distribution from sites across the North West of England and trades as a member depot of the Pallet-Track network. SSO International Forwarding Ltd provides international freight forwarding and operates a customs bureau under Authorised Economic Operator authorisation.

Both subsidiaries grew during the year and both held or improved gross margin while doing so. Group turnover and gross profit each increased, with gross profit growing faster than turnover, so growth was achieved without a deterioration in the quality of the work taken on. Operating profit and profit before taxation both improved.

The two businesses contribute in different ways. Logistics generates the greater part of turnover and carries the group's fleet, property commitments and borrowings. Forwarding generates a share of profit well ahead of its share of turnover, on negligible fixed assets, because international movements are sub-contracted to carriers rather than performed on own account. The result is a group with earnings balanced between asset-backed and asset-light activity, and less exposed to any single part of the logistics cycle than either company would be alone.

Administrative expenses grew ahead of turnover in both subsidiaries. In Logistics the principal causes were the strengthening of the senior leadership team, a revision to the depreciation applied to the trailer fleet, and the increase in employer's national insurance from April 2025. In Forwarding the growth reflected an increase in headcount and the systems, subscription and professional cost of operating a customs bureau at greater volume. Group headcount rose modestly while turnover grew, so output per employee improved.

The group's customer base is well spread. In the transport and warehousing business no single customer represents more than 15% of turnover, and warehousing activity is spread across more than twenty customers, so the group is not dependent on any one commercial relationship for its utilisation or its result.

STRATEGY: AN INTEGRATED END-TO-END SERVICE

A business importing goods into the United Kingdom will ordinarily deal with separate parties for customs clearance, port haulage, storage and onward distribution. Every handover between those parties adds cost, introduces delay and diffuses accountability, and the customer is left to manage the interfaces itself.

The group's strategy is to remove those handovers by holding the whole chain: clearance and forwarding through SSO International Forwarding, and port haulage, storage and distribution through SSO Logistics. The directors believe this produces three commercial consequences. It earns a greater share of each customer's logistics spend, because the group can quote for the whole movement rather than one leg of it. It produces more durable customer relationships, because a customer that has placed clearance, storage and distribution with a single provider does not move any one of them easily. And it balances group earnings between capital-intensive and asset-light activity.

The directors recognise that this depends on the two companies operating as a single commercial proposition rather than as separate companies that happen to share a shareholder. Aligning commercial management, systems and customer reporting across both businesses is therefore central to the strategy and not incidental to it.

INVESTMENT IN THE OPERATING PLATFORM

Senior leadership

The group strengthened its management structure during the year at managing director, operations and finance level across both subsidiaries. The directors consider a properly resourced leadership team to be a precondition of operating safely and profitably at the group's current scale, and of pursuing the integrated strategy described above.

REVIEW OF THE BUSINESS (CONT'D)

Technology and systems

Investment continued in operating and financial systems across both companies, covering purchase order control, warehouse management, customs processing and management reporting. The objectives are to reduce manual administration, to capture revenue that has historically been lost through incomplete recording, and to shorten the reporting cycle so that the board and the group's investors receive timely and consistent information from both businesses.

Telematics and fleet monitoring

Vehicle repairs and maintenance was the fastest-growing direct cost in the transport business during the year, and the trailer fleet has aged since the last significant investment cycle. Telematics and fleet monitoring have been extended across the fleet to give visibility of driving behaviour, fuel consumption and vehicle condition, and to move maintenance onto a planned basis. The directors expect the benefit to arise principally through improved margin and asset utilisation rather than through reductions in headcount.

PRINCIPAL RISKS AND UNCERTAINTIES

Network dependence

A share of the transport business's volume, revenue and cost is carried through the Pallet-Track network, and the group is therefore affected by network rates, by the composition of the membership and by the service performance of other member depots. Membership is held under a three-year rolling agreement, which the directors consider provides security of access over the medium term. Exposure is further managed through active management of the depot's own service performance, monitoring of network revenue capture, and maintenance of direct customer relationships alongside network traffic.

Cost inflation

The group is exposed to inflation in pay, employer's national insurance, insurance premiums, fuel, tyres, maintenance and property costs, and in the forwarding business to freight rates charged by carriers. Exposure is managed through indexed and reviewable customer rate structures, procurement of principal consumables, and the planned maintenance and telematics programme.

Credit risk

The group carries a substantial trade debtor balance across both subsidiaries and is exposed to customer failure. Risk is managed through credit insurance, defined credit limits and monthly review of aged debt. The directors have identified credit control in the forwarding business as a specific priority for the coming year following growth in the ledger.

Liquidity and funding

Working capital in the transport business is funded principally through an invoice discounting facility, and fleet acquisition through hire purchase, both secured by fixed and floating charges which extend to the assets of the forwarding subsidiary. The forwarding business has no borrowings and funds itself from operating cash flow. Group borrowings reduced during the year while turnover grew, and the directors monitor facility headroom weekly.

Asset condition and replacement

The transport business depends on the availability and condition of its tractor units and trailers. Deferral of replacement transfers cost into maintenance and reduces vehicle availability. The directors review the fleet replacement programme against contracted work, maintenance experience and the cost and availability of asset finance.

Regulatory and compliance

The transport business operates under an operator's licence and is subject to drivers' hours, vehicle maintenance, health and safety and warehouse regulation. The forwarding business holds Authorised Economic Operator authorisation and is subject to customs regulation, where error carries both financial and authorisation risk. Compliance in both businesses is managed through documented systems, scheduled inspection, training and internal reporting to the board.

Customs and trade policy

The forwarding business is directly exposed to changes in customs procedure and trade policy, including the introduction of carbon border adjustment arrangements. The directors regard regulatory change as an opportunity as well as a risk, since complexity increases the value customers place on specialist customs capability, but it requires continued investment in expertise and systems.

People

Recruitment and retention of qualified drivers, experienced warehouse staff and customs-competent operators remains a constraint across the sector. The directors address this through pay review, investment in equipment and facilities, training and the strengthened management structure.

FUTURE DEVELOPMENTS

The directors' priorities for the year ending 31 October 2026 are:

- to sell the group's capability as a single end-to-end service, so that customers of the forwarding business are converted to haulage and warehousing and vice versa;

- to continue transferring sub-contracted transport work onto the group's own fleet where it can be carried profitably;

- to increase utilisation of existing warehouse capacity and to appraise additional storage volume where contracted demand supports it;

- to restore operating margin in the forwarding business by holding overhead growth below revenue growth and by strengthening credit control;

- to progress the fleet replacement programme, with particular attention to the trailer fleet, and to complete the telematics and planned maintenance programme; and

- to extend systems investment across both companies so that administration is reduced, revenue is captured in full and management reporting is delivered promptly and consistently after each month end.

The directors are satisfied with the progress made during the year and consider that the group is well positioned to make further progress in the year ahead.

KEY PERFORMANCE INDICATORS

The directors have considered the requirement to include an analysis using financial key performance indicators where necessary for an understanding of the company's development, performance or position. Having regard to the nature and scale of the company's activities, the directors consider that the narrative review together with the financial statements provides a sufficient understanding of the company's performance and position, and that the inclusion of separate financial key performance indicators is not necessary.

ON BEHALF OF THE BOARD:

Mr P G Draper - 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.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of freight transportation services.

DIVIDENDS

The total distribution of dividends for the year ended 31 October 2025 will be £208,922 for the group and £139,652 for the parent company.

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 P G Draper

Mr S McAneney

Mr J Wood

DISCLOSURE IN THE STRATEGIC REPORT

In accordance with section 414A of the Companies Act 2006, the group has prepared a strategic report which can be found on page 2 and which includes a fair review of the group’s business and a description of the principal risks and uncertainties facing the group.

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;

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

AUDITORS

The auditors, Harts Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr P G Draper - Director

31 July 2026

Opinion

We have audited the financial statements of SSO Group Ltd (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 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.

Other matter

The financial statements for the year ended 31 October 2024 were not audited and are presented as comparative information only. We do not express an opinion on those financial statements.

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:

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

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 are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and employment law. In addition the Company has to comply with laws and regulations relating to its operations and health and safety.

We understood how SSO Group Ltd is complying with those frameworks by making inquiries of management and the head of technical, and confirmation to identify any non-compliance with laws and regulations.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by discussion with directors to understand where it's considered there was a susceptibility to fraud. We considered the controls that the Company has established to address risks identified, or that otherwise prevent, deter and detect fraud.

To evaluate the risk of fraud through management bias and override of controls, analytical procedures have been performed to identify any unusual or unexpected relationships; investigated the rationale behind significant or unusual transactions; and tested journal entries to identify unusual transactions. Controls have also been considered, that the company has established to address risks identified, or that otherwise prevent, defer and detect fraud. No susceptibilities identified in these controls.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations that could materially impact the financial statements. Taking into accounts our understanding of the Company, our procedures involved enquires of management and focussed testing as appropriate with consideration to risk assessment.

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.

David Taylor BFP FCA (Senior Statutory Auditor)

for and on behalf of Harts Limited

Chartered Accountants and Statutory Auditors

Westminster House

10 Westminster Road

Macclesfield

Cheshire

SK10 1BX

31 July 2026

TURNOVER

3

15,729,517

13,323,011

Cost of sales

(10,044,708

)

(8,662,585

)

GROSS PROFIT

5,684,809

4,660,426

Administrative expenses

(4,892,528

)

(4,037,713

)

792,281

622,713

Other operating income

70,630

74,438

OPERATING PROFIT

5

862,911

697,151

Income from fixed asset investments

2,581

13,063

Interest receivable and similar income

18

471

865,510

710,685

Interest payable and similar expenses

7

(202,691

)

(174,814

)

PROFIT BEFORE TAXATION

662,819

535,871

Tax on profit

8

(168,996

)

(184,317

)

PROFIT FOR THE FINANCIAL YEAR

493,823

351,554

Profit attributable to:

Owners of the parent

378,515

235,247

Non-controlling interests

115,308

116,307

493,823

351,554

PROFIT FOR THE YEAR

493,823

351,554

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

493,823

351,554

Total comprehensive income attributable to:

Owners of the parent

378,514

235,247

Non-controlling interests

115,309

116,307

493,823

351,554

FIXED ASSETS

Intangible assets

12

367,564

425,844

Tangible assets

13

1,748,769

1,954,081

Investments

14

17,500

10,000

2,133,833

2,389,925

CURRENT ASSETS

Debtors

15

3,706,359

3,149,909

Cash at bank

377,927

122,747

4,084,286

3,272,656

CREDITORS

Amounts falling due within one year

16

(4,230,347

)

(3,622,973

)

NET CURRENT LIABILITIES

(146,061

)

(350,317

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,987,772

2,039,608

CREDITORS

Amounts falling due after more than one year

17

(541,438

)

(838,277

)

PROVISIONS FOR LIABILITIES

21

(427,256

)

(467,155

)

NET ASSETS

1,019,078

734,176

CAPITAL AND RESERVES

Called up share capital

22

352

352

Share premium

23

881,748

881,748

Retained earnings

23

254,526

15,663

SHAREHOLDERS' FUNDS

1,136,626

897,763

NON-CONTROLLING INTERESTS

24

(117,548

)

(163,587

)

TOTAL EQUITY

1,019,078

734,176

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 P G Draper - Director

FIXED ASSETS

Intangible assets

12

-

-

Tangible assets

13

-

-

Investments

14

893,910

886,410

893,910

886,410

CURRENT ASSETS

Debtors

15

42,395

4,670

Cash at bank

3,884

152

46,279

4,822

CREDITORS

Amounts falling due within one year

16

(52,027

)

(9,105

)

NET CURRENT LIABILITIES

(5,748

)

(4,283

)

TOTAL ASSETS LESS CURRENT LIABILITIES

888,162

882,127

CAPITAL AND RESERVES

Called up share capital

22

352

352

Share premium

23

881,748

881,748

Retained earnings

23

6,062

27

SHAREHOLDERS' FUNDS

888,162

882,127

Company's profit for the financial year

145,687

210,113

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 P G Draper - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 November 2023

352

363,443

881,748

Prior year adjustment

-

(358,791

)

-

As restated

352

4,652

881,748

Changes in equity

Dividends to minority interest

-

157,660

-

Dividends

-

(381,896

)

-

Total comprehensive income

-

447,800

-

Balance at 31 October 2024

352

228,216

881,748

Prior year adjustment

-

(212,553

)

-

As restated

352

15,663

881,748

Changes in equity

Dividends to minority interest

-

69,270

-

Dividends

-

(208,922

)

-

Total comprehensive income

-

378,515

-

Balance at 31 October 2025

352

254,526

881,748

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 November 2023

1,245,543

(122,234

)

1,123,309

Prior year adjustment

(358,791

)

-

(358,791

)

As restated

886,752

(122,234

)

764,518

Changes in equity

Dividends to minority interest

157,660

(157,660

)

-

Dividends

(381,896

)

-

(381,896

)

Total comprehensive income

447,800

116,307

564,107

Balance at 31 October 2024

1,110,316

(163,587

)

946,729

Prior year adjustment

(212,553

)

-

(212,553

)

As restated

897,763

(163,587

)

734,176

Changes in equity

Dividends to minority interest

69,270

(69,270

)

-

Dividends

(208,922

)

-

(208,922

)

Total comprehensive income

378,515

115,309

493,824

Balance at 31 October 2025

1,136,626

(117,548

)

1,019,078

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 November 2023

352

14,150

881,748

896,250

Changes in equity

Dividends

-

(224,236

)

-

(224,236

)

Total comprehensive income

-

210,113

-

210,113

Balance at 31 October 2024

352

27

881,748

882,127

Changes in equity

Dividends

-

(139,652

)

-

(139,652

)

Total comprehensive income

-

145,687

-

145,687

Balance at 31 October 2025

352

6,062

881,748

888,162

Cash flows from operating activities

Cash generated from operations

1

1,355,205

839,781

Interest paid

(136,508

)

(126,347

)

Interest element of hire purchase payments paid

(66,183

)

(48,467

)

Tax paid

(75,971

)

(146,368

)

Net cash from operating activities

1,076,543

518,599

Cash flows from investing activities

Purchase of tangible fixed assets

(179,590

)

(854,922

)

Purchase of fixed asset investments

(7,500

)

-

Sale of tangible fixed assets

38,989

26,316

Interest received

18

471

Dividends received

2,581

13,063

Net cash from investing activities

(145,502

)

(815,072

)

Cash flows from financing activities

New loans in year

-

1,489,541

Loan repayments in year

(262,859

)

-

Capital repayments in year

(180,116

)

348,053

Amount introduced by directors

93,771

611,423

Amount withdrawn by directors

(118,576

)

(620,814

)

Equity dividends paid

(208,922

)

(381,896

)

Net cash from financing activities

(676,702

)

1,446,307

Increase in cash and cash equivalents

254,339

1,149,834

Cash and cash equivalents at beginning of year

2

122,747

(1,027,087

)

Cash and cash equivalents at end of year

2

377,086

122,747

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

31.10.25

31.10.24

as restated

£

£

Profit before taxation

662,819

535,871

Depreciation charges

414,688

306,173

(Profit)/loss on disposal of fixed assets

(10,495

)

82,596

Finance costs

202,691

174,814

Finance income

(2,599

)

(13,534

)

1,267,104

1,085,920

Decrease in stocks

-

38,580

Increase in trade and other debtors

(535,296

)

(729,399

)

Increase in trade and other creditors

623,397

444,680

Cash generated from operations

1,355,205

839,781

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2025

31.10.25

1.11.24

£

£

Cash and cash equivalents

377,927

122,747

Bank overdrafts

(841

)

-

377,086

122,747

Year ended 31 October 2024

31.10.24

1.11.23

as restated

£

£

Cash and cash equivalents

122,747

111,776

Bank overdrafts

-

(1,138,863

)

122,747

(1,027,087

)