Richwell Trading Limited 31/08/2025 iXBRL

Company registration number: NI043844

Richwell Trading Limited

Financial statements

31 August 2025

Richwell Trading Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Richwell Trading Limited

Directors and other information


	Directors	Mr Richard Lusty
		Mr Raymond Lusty


	Secretary	Raymond Lusty


	Company number	NI043844


	Registered office	5 Valley View
		Gleno
		Larne
		Co Antrim
		BT40 3LJ


	Auditor	ASM (D) Ltd
		79 Cunninghams Lane
		Dungannon
		Co Tyrone
		BT71 6BX




	Bankers	Ulster Bank Limited
		33 Main Street
		Randalstown
		Co Antrim
		BT41 3AB


	Solicitors	DWF
		42 Queen Street
		Belfast
		BT1 6HL

Richwell Trading Limited

Strategic report

Period ended 31 August 2025

Review of business and future developments

The profit and loss account for the period is set out on page 9.

In general, the results for the year were as expected and the year end financial position was satisfactory.

Financial risk management objectives and policies

The company's operations expose it to a minimum level of financial risk that include the effects of changes in market price. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance cost. Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board.

Price risk

The company is exposed to some commodity price risk as a result of its operations. However, costs of managing exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature. The company has no exposure to equity securities price risk as it holds no listed investments.

Environment

The company recognises its corporate responsibility to carry out its operations whilst minimising environmental impacts. The directors' continued aim is to comply with all applicable environmental legislation, prevent pollution and reduce waste wherever possible.

Health and safety

The company is committed to achieving the highest practicable standard in health and safety management and strives to make all premises safe enviroments for employees and customers alike.

Dividends

Dividends of £100,500 were paid by the company during the year (2024: £500,315).

Directors

The directors of the company during the year are shown on page 1.

This report was approved by the board of directors on 29 May 2026 and signed on behalf of the board by:

Mr Richard Lusty

Director

Richwell Trading Limited

Directors report

Period ended 31 August 2025

The directors present their report and the financial statements of the company for the period ended 31 August 2025.

Directors

The directors who served the company during the period were as follows:

Mr Richard Lusty

Mr Raymond Lusty

Dividends

Particulars of recommended dividends are detailed in note 10 to the financial statements.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial period. 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 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 judgments and accounting estimates that are reasonable and prudent; and

- 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 29 May 2026 and signed on behalf of the board by:

Raymond Lusty

Secretary

Richwell Trading Limited

Independent auditor's report to the members of

Richwell Trading Limited

Period ended 31 August 2025

Opinion

We have audited the financial statements of Richwell Trading Limited (the 'company') for the period ended 31 August 2025 which comprise the statement of comprehensive income, statement of financial position, 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 FRS 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 August 2025 and of its profit for the period then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report has 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 directors' report. 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 the 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, 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 is 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.

Auditor's 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 an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which they operate and considered the risk of acts by the company that were contrary to appliable law and regulations, including fraud. We considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the following areas: mismanagement of payments, posting of unusual journals together with complex transactions, revenue recognition and subjectivity of valuations used for land and buildings. We designed audit procedures to respond to these risks, recognising that 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. Our audit procedures included: enquires of management about their own identification and assessment of risks of irregularities, specific tests of detail over payments, sample testing of journals posted during the year, verifying the underlying assumptions adopted for the property valuations, specific tests of detail over revenue recognition and a review of areas of judgement for indicators of management bias to address the risks. 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. 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 auditor’s report.

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 an auditors report 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.

Alistair Cooke (Senior Statutory Auditor)

For and on behalf of

ASM (D) Ltd

Chartered Accountants and Registered Auditors

79 Cunninghams Lane

Dungannon

Co Tyrone

BT71 6BX

29 May 2026

Richwell Trading Limited

Statement of comprehensive income

Period ended 31 August 2025

		Period	Year
		ended	ended
		31/08/25	31/10/24
	Note	£	£


Turnover	4	12,232,169	13,235,740
Cost of sales		( 10,056,032)	( 11,049,077)
		_______	_______
Gross profit		2,176,137	2,186,663

Distribution costs		( 198,254)	( 190,933)
Administrative expenses		( 1,773,245)	( 1,656,429)
		_______	_______
Operating profit	5	204,638	339,301

Other interest receivable and similar income	8	4,172	21,135
Profit before taxation		208,810	360,436

Tax on profit	9	( 18,303)	( 76,121)
		_______	_______
Profit for the financial period and total comprehensive income		190,507	284,315
		_______	_______

All the activities of the company are from continuing operations.

Richwell Trading Limited

Statement of financial position

31 August 2025

		31/08/25		31/10/24
	Note	£	£	£	£

Fixed assets
Intangible assets	11	57,048		62,430
Tangible assets	12	734,988		766,356
Investments	13	120,000		-
		_______		_______
			912,036		828,786

Current assets
Stocks	14	810,068		701,239
Debtors	15	147,332		97,715
Cash at bank and in hand		1,321,093		985,659
		_______		_______
		2,278,493		1,784,613
Creditors: amounts falling due
within one year	16	( 858,954)		( 961,355)
		_______		_______
Net current assets			1,419,539		823,258
			_______		_______
Total assets less current liabilities			2,331,575		1,652,044


Provisions for liabilities	17		( 167,353)		( 173,755)

Accruals and deferred income	20		(1,022,473)		(426,546)

			_______		_______
Net assets			1,141,749		1,051,743
			_______		_______

Capital and reserves
Called up share capital	21		90		90
Share premium account	22		49,990		49,990
Capital redemption reserve	22		10		10
Profit and loss account	22		1,091,659		1,001,653
			_______		_______
Shareholders funds			1,141,749		1,051,743
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 29 May 2026 , and are signed on behalf of the board by:

Mr Richard Lusty

Director

Company registration number: NI043844

Richwell Trading Limited

Statement of changes in equity

Period ended 31 August 2025

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£	£


At 1 November 2023	90	49,990	10	1,217,653	1,267,743

Profit for the period				284,315	284,315
	_______	_______	_______	_______	_______
Total comprehensive income for the period	-	-	-	284,315	284,315

Dividends paid and payable				( 500,315)	( 500,315)
	_______	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	-	( 500,315)	( 500,315)

	_______	_______	_______	_______	_______
At 31 October 2024 and 1 November 2024	90	49,990	10	1,001,652	1,051,742

Profit for the period				190,507	190,507
	_______	_______	_______	_______	_______
Total comprehensive income for the period	-	-	-	190,507	190,507

Dividends paid and payable				( 100,500)	( 100,500)
	_______	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	-	( 100,500)	( 100,500)

	_______	_______	_______	_______	_______
At 31 August 2025	90	49,990	10	1,091,659	1,141,749
	_______	_______	_______	_______	_______

Richwell Trading Limited

Notes to the financial statements

Period ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 5 Valley View, Gleno, Larne, Co Antrim, BT40 3LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	5 %	straight line
Plant and machinery	-	10 %	straight line
Fittings fixtures and equipment	-	20 %	straight line
Motor vehicles	-	20 %	straight line

Leasehold property costs are released over the life of the individual leases.

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred grants

Deferred grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Deferred grants are recognised using the accrual model and the performance model. Under the accrual model, deferred grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit is stated after charging/(crediting):

	Period	Year
	ended	ended
	31/08/25	31/10/24
	£	£
Amortisation of intangible assets	5,382	2,153
Depreciation of tangible assets	171,421	147,787
Fees payable for the audit of the financial statements	10,500	8,000
	_______	_______

6. Staff costs

The average number of persons employed by the company during the period, including the directors, amounted to:

	Period	Year
	ended	ended
	31/08/25	31/10/24
Administrative staff	5	5
Sales staff	58	64
	_______	_______
	63	69
	_______	_______

The aggregate payroll costs incurred during the period were:

	Period	Year
	ended	ended
	31/08/25	31/10/24
	£	£
Wages and salaries	892,468	860,223
Other pension costs	12,193	48,091
	_______	_______
	904,661	908,314
	_______	_______

7. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	Period	Year
	ended	ended
	31/08/25	31/10/24
	£	£
Remuneration	17,350	20,820
Company contributions to pension schemes in respect of qualifying services	1,565	40,000
	_______	_______
	-	60,820
	_______	_______

8. Other interest receivable and similar income

	Period	Year
	ended	ended
	31/08/25	31/10/24
	£	£
Bank deposits	4,172	21,111
Other interest receivable and similar income	-	24
	_______	_______
	4,172	21,135
	_______	_______

9. Tax on profit

Major components of tax expense

	Period	Year
	ended	ended
	31/08/25	31/10/24
	£	£
Current tax:
UK current tax expense	24,705	-
Adjustments in respect of previous periods	-	56
	_______	_______

Deferred tax:
Origination and reversal of timing differences	( 6,402)	76,065
	_______	_______
Tax on profit	18,303	76,121
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the period is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

	Period	Year
	ended	ended
	31/08/25	31/10/24
	£	£
Profit before taxation	208,810	360,436
	_______	_______

Profit multiplied by rate of tax	52,203	90,109
Adjustments in respect of prior periods	-	56
Effect of capital allowances and depreciation	5,248	2,178
Effect of revenue exempt from tax	( 36,518)	( 18,857)
Unrelieved tax losses	-	2,635
(Under)/over provision in prior years - deferred tax	( 2,630)	-
	_______	_______
Tax on profit	18,303	76,121
	_______	_______

10. Dividends

Equity dividends

	Period	Year
	ended	ended
	31/08/25	31/10/24
	£	£
Dividends paid during the period (excluding those for which a liability existed at the end of the prior year)	100,500	500,315
	_______	_______

11. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 November 2024 and 31 August 2025	64,583	64,583
	_______	_______
Amortisation
At 1 November 2024	2,153	2,153
Charge for the period	5,382	5,382
	_______	_______
At 31 August 2025	7,535	7,535
	_______	_______
Carrying amount
At 31 August 2025	57,048	57,048
	_______	_______
At 31 October 2024	62,430	62,430
	_______	_______

12. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 November 2024	137,066	29,053	1,374,822	48,864	1,589,805
Additions	-	-	106,760	33,295	140,055
	_______	_______	_______	_______	_______
At 31 August 2025	137,066	29,053	1,481,582	82,159	1,729,860
	_______	_______	_______	_______	_______
Depreciation
At 1 November 2024	65,727	25,017	713,356	19,351	823,451
Charge for the year	5,757	538	157,432	7,694	171,421
	_______	_______	_______	_______	_______
At 31 August 2025	71,484	25,555	870,788	27,045	994,872
	_______	_______	_______	_______	_______
Carrying amount
At 31 August 2025	65,582	3,498	610,794	55,114	734,988
	_______	_______	_______	_______	_______
At 31 October 2024	71,339	4,036	661,466	29,513	766,354
	_______	_______	_______	_______	_______

13. Investments

	Participating interests	Total
	£	£
Cost
At 1 November 2024	-	-
Additions	120,000	120,000
	_______	_______
At 31 August 2025	120,000	120,000
	_______	_______
Impairment
At 1 November 2024 and 31 August 2025	-	-
	_______	_______
Carrying amount
At 31 August 2025	120,000	120,000
	_______	_______
At 31 October 2024	-	-
	_______	_______

14. Stocks

	31/08/25	31/10/24
	£	£
Finished goods and goods for resale	810,068	701,239
	_______	_______

15. Debtors

	31/08/25	31/10/24
	£	£
Trade debtors	540	3
Amounts owed by undertakings in which the company has a participating interest	500	500
Prepayments and accrued income	58,285	53,894
Other debtors	88,007	43,318
	_______	_______
	147,332	97,715
	_______	_______

16. Creditors: amounts falling due within one year

	31/08/25	31/10/24
	£	£
Trade creditors	650,729	882,498
Accruals	95,199	48,312
Corporation tax	24,681	( 24)
Social security and other taxes	85,159	20,420
Other creditors	3,186	10,149
	_______	_______
	858,954	961,355
	_______	_______

17. Provisions

	Deferred tax (note 18)	Total
	£	£
At 1 November 2024	173,755	173,755
Additions	( 6,402)	( 6,402)
	_______	_______
At 31 August 2025	167,353	167,353
	_______	_______

18. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	31/08/25	31/10/24
	£	£
Included in provisions (note 17)	167,353	173,755
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	31/08/25	31/10/24
	£	£
Accelerated capital allowances	167,353	173,755
	_______	_______

19. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 12,193 (2024: £ 48,091 ).

20. Accruals and deferred income

	31/08/25	31/10/24

Deferred grants
	£	£
At start of period	426,547	125,174
Grants received or receivable	742,000	376,800
Released to the profit or loss	(146,074)	(75,428)
	_______	_______
At end of year	1,022,473	426,546
	_______	_______

The amounts recognised in the financial statements for accruals and deferred income are as follows:

	31/08/25	31/10/24
	£	£
Recognised in creditors:
Deferred grants due after more than one year	1,022,473	426,546
	_______	_______

21. Called up share capital

Issued, called up and fully paid

	31/08/25		31/10/24
	No	£	No	£
Ordinary A shares of £ 1.00 each	90	90	90	90
	_______	_______	_______	_______

The company has one class of ordinary shares which carry voting rights to participate in a distribution as respects dividend and capital.

22. Reserves

Profit and loss account : This reserve records cumulative profits or losses, net of dividends paid. This reserve is distributable in full.

23. Operating leases

The company as lessee

The annual future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Later than 5 years	182,958	175,129
	_______	_______

24. Related party transactions

During the period the company entered into the following transactions with related parties:

	Transaction value	Balance owed by /(owed to)
	Period	Period
	ended	ended
	31/08/25	31/08/25
	£	£
Key management personnel	29,543	( 9,999)
	_______	_______

Key management includes the Board of Directors who have responsibility of planning, directing and controlling the activities of the company. Advantage has been taken of the exemption under FRS102 not to disclose any transactions with entities that are part of the same group that have been included in consolidated group accounts.

25. Ultimate parent company

The directors regard Rahaol Trading Ltd, which is registered in Northern Ireland to be in the company's ultimate parent company. Rahaol Trading Ltd has a 55% interest in the ordinary share capital of Richwell Trading Limited at 31 August 2025.