Company registration number 10016000 (England and Wales)
DASH BRANDS LTD
ANNUAL REPORT AND GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
DASH BRANDS LTD
COMPANY INFORMATION
Directors
A W L Wright
J H Scott
F Hall
E P Jackson
T J McAlpine
D R Milner
E L Biasiolo
(Appointed 1 December 2025)
Secretary
AFP Services Limited
Company number
10016000
Registered office
8th Floor, New Penderel House
283-288 High Holborn
London
WC1V 7HP
Auditor
Moore
Oakley House
Headway Business Park
3 Saxon Way West
Corby
Northamptonshire
NN18 9EZ
DASH BRANDS LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Company statement of cash flows
15
Notes to the financial statements
16 - 30
DASH BRANDS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Review of the business

DASH is on a mission to lead Europe’s healthy hydration revolution. We make simple, delicious drinks, committed to protecting people and the planet.

2025 was a year of meaningful progress. Group r evenue increased by 30% to £22.5m, driven by strong performance in UK Grocery, direct-to-consumer and wholesale channels. Revenue growth in our core UK entity was 42% to £21.7m, with strong distribution and rate of sale momentum in the UK and Europe. Group gross profit rose by 36% to £12.0m, reflecting the benefits of growing scale and supply chain efficiencies.

The Group recorded a net loss of £0.45m, a significant reduction from the £2.3m net loss reported in 2024. Our core UK entity achieved a major milestone by returning a profit of £0.15m, marking the first time the business has delivered an annual profit at entity level. This improvement reflects disciplined cost management alongside continued revenue growth, and marks a step change in the financial trajectory of the business.

Principal risks and uncertainties

Key risks include:

- Supply Chain Disruption: mitigated through close working relationships with capable suppliers.

- Foreign Exchange Volatility: managed with a proactive forward currency hedging strategy.

- Competitive Pressure: addressed through brand differentiation and innovation.

- Liquidity Risk: monitored via regular cash flow forecasting and capital planning.

- Credit Risk: mitigated by applying credit limits for customers.

Key performance indicators

Annual budgets, agreed upon in advance with the Board, consider projected revenue, profit and loss, cash flow and working capital. Monthly management accounts are prepared and reviewed with the Board on a quarterly basis.

Section 172 Statement

The directors have considered the interests of stakeholders including employees, customers, suppliers, and shareholders in their decision-making. Investments in team development, supplier relationships, and customer experience reflect our commitment to long-term value creation. DASH holds B Corp certification, reflecting the Board's commitment to meeting rigorous standards of social and environmental performance, transparency and accountability, and to balancing the interests of people and planet alongside commercial growth.

Strategy and Outlook

Looking ahead, DASH will continue to focus on:

- Channel Growth: Deepening existing retail partnerships, establishing new ones and scaling DTC.

- International Expansion: Building on positive early traction in Europe.

- Product Innovation: Exploring new formats and flavours.

- Brand Awareness: Building a recognisable and memorable brand.

- Profitability: Building on our first year of entity-level profitability to drive further margin improvement and progress towards sustainable group profitability.

We remain committed to building a brand that consumers love and a business that delivers sustainable growth.

DASH BRANDS LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

On behalf of the board

T J McAlpine
Director
10 August 2026
DASH BRANDS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of the manufacture and retail of soft drinks.

Results and dividends

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A W L Wright
J H Scott
L J Edis
(Resigned 1 December 2025)
F Hall
E P Jackson
T J McAlpine
D R Milner
E L Biasiolo
(Appointed 1 December 2025)
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
T J McAlpine
Director
10 August 2026
DASH BRANDS LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors are responsible for preparing the Annual Report 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 group and company, 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 UK 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DASH BRANDS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DASH BRANDS LTD
- 5 -
Opinion

We have audited the financial statements of Dash Brands Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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 the parent company's affairs as at 31 December 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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 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 contained within the annual report. 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. 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 course of 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 our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

DASH BRANDS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DASH BRANDS LTD
- 6 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 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 parent 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 auditor's 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.

As part of our audit, we directed, supervised and performed the group audit in accordance with ISAs (UK). In doing so, we determined the nature and extent of the audit procedures to be performed by us and by component auditors. We issued instructions to component auditors setting out the scope of their work, areas of focus, and reporting requirements. We evaluated the work of component auditors, including consideration of their findings and audit evidence, to satisfy ourselves that it was sufficient and appropriate for the purposes of our audit. We remain responsible for the direction, supervision and performance of the group audit and for the audit opinion expressed on the group financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

DASH BRANDS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DASH BRANDS LTD
- 7 -
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of 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 to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.

- We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

- We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 parent 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 parent company’s members those matters we are required to state to them in an auditor's 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

DASH BRANDS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DASH BRANDS LTD
- 8 -
Amanda Etty (Senior Statutory Auditor)
For and on behalf of Moore
Statutory Auditor
Chartered Accountants
Oakley House
Headway Business Park
3 Saxon Way West
Corby
Northamptonshire
NN18 9EZ
10 August 2026
DASH BRANDS LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
22,481,100
17,227,846
Cost of sales
(10,438,568)
(8,350,369)
Gross profit
12,042,532
8,877,477
Distribution costs
(2,762,105)
(2,722,446)
Administrative expenses
(9,815,611)
(8,366,575)
Other operating expenses
-
0
(239,317)
Operating loss
4
(535,184)
(2,450,861)
Interest receivable and similar income
7
86,831
115,316
Interest payable and similar expenses
8
(1,463)
(2,791)
Loss before taxation
(449,816)
(2,338,336)
Tax on loss
9
-
0
-
0
Loss for the financial year
(449,816)
(2,338,336)
Other comprehensive income
Currency translation (loss)/gain taken to retained earnings
(885)
162,463
Total comprehensive income for the year
(450,701)
(2,175,873)
Loss for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
DASH BRANDS LTD
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
82,194
72,452
Investments
11
5
5
82,199
72,457
Current assets
Stocks
13
2,690,873
2,893,894
Debtors
14
3,463,832
2,459,796
Cash at bank and in hand
4,177,979
4,198,017
10,332,684
9,551,707
Creditors: amounts falling due within one year
15
(4,269,405)
(3,015,135)
Net current assets
6,063,279
6,536,572
Total assets less current liabilities
6,145,478
6,609,029
Creditors: amounts falling due after more than one year
16
-
(24,572)
Net assets
6,145,478
6,584,457
Capital and reserves
Called up share capital
20
3
3
Share premium account
16,341,383
16,341,383
Profit and loss reserves
(10,195,908)
(9,756,929)
Total equity
6,145,478
6,584,457

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 10 August 2026 and are signed on its behalf by:
10 August 2026
T J McAlpine
Director
Company registration number 10016000 (England and Wales)
DASH BRANDS LTD
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
82,194
62,809
Investments
11
54
54
82,248
62,863
Current assets
Stocks
13
2,690,873
2,126,462
Debtors
14
3,438,131
2,422,324
Cash at bank and in hand
4,141,649
4,034,590
10,270,653
8,583,376
Creditors: amounts falling due within one year
15
(4,268,451)
(2,701,083)
Net current assets
6,002,202
5,882,293
Total assets less current liabilities
6,084,450
5,945,156
Creditors: amounts falling due after more than one year
16
-
(24,572)
Net assets
6,084,450
5,920,584
Capital and reserves
Called up share capital
20
3
3
Share premium account
16,341,383
16,341,383
Profit and loss reserves
(10,256,936)
(10,420,802)
Total equity
6,084,450
5,920,584

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £152,144 (2024 - £4,462,441 (loss), of which £3,559,123 related to exceptional items regarding intercompany balances).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 10 August 2026 and are signed on its behalf by:
10 August 2026
T J McAlpine
Director
Company registration number 10016000 (England and Wales)
DASH BRANDS LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
3
16,191,436
(7,691,558)
8,499,881
Year ended 31 December 2024:
Loss for the year
-
-
(2,338,336)
(2,338,336)
Other comprehensive income:
Currency translation differences
-
-
162,463
162,463
Total comprehensive income
-
-
(2,175,873)
(2,175,873)
Issue of share capital
20
-
0
149,947
-
149,947
Credit to equity for equity settled share-based payments
19
-
-
110,502
110,502
Balance at 31 December 2024
3
16,341,383
(9,756,929)
6,584,457
Year ended 31 December 2025:
Loss for the year
-
-
(449,816)
(449,816)
Other comprehensive income:
Currency translation differences
-
-
(885)
(885)
Total comprehensive income
-
-
(450,701)
(450,701)
Credit to equity for equity settled share-based payments
19
-
-
11,722
11,722
Balance at 31 December 2025
3
16,341,383
(10,195,908)
6,145,478
DASH BRANDS LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
3
16,191,436
(6,068,863)
10,122,576
Year ended 31 December 2024:
Loss and total comprehensive income for the year
-
-
(4,462,441)
(4,462,441)
Issue of share capital
20
-
0
149,947
-
149,947
Credit to equity for equity settled share-based payments
19
-
-
110,502
110,502
Balance at 31 December 2024
3
16,341,383
(10,420,802)
5,920,584
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
152,144
152,144
Credit to equity for equity settled share-based payments
19
-
-
11,722
11,722
Balance at 31 December 2025
3
16,341,383
(10,256,936)
6,084,450
DASH BRANDS LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
23
(39,039)
(1,018,225)
Interest paid
(1,463)
(2,791)
Net cash outflow from operating activities
(40,502)
(1,021,016)
Investing activities
Purchase of tangible fixed assets
(57,293)
(30,108)
Interest received
86,831
115,316
Net cash generated from investing activities
29,538
85,208
Financing activities
Proceeds from issue of shares
-
149,947
Payment of finance leases obligations
(8,189)
(6,889)
Net cash (used in)/generated from financing activities
(8,189)
143,058
Net decrease in cash and cash equivalents
(19,153)
(792,750)
Cash and cash equivalents at beginning of year
4,198,017
4,828,304
Effect of foreign exchange rates
(885)
162,463
Cash and cash equivalents at end of year
4,177,979
4,198,017
DASH BRANDS LTD
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
24
91,724
(778,614)
Interest paid
(1,463)
(2,791)
Net cash inflow/(outflow) from operating activities
90,261
(781,405)
Investing activities
Purchase of tangible fixed assets
(61,844)
(30,108)
Interest received
86,831
115,316
Net cash generated from investing activities
24,987
85,208
Financing activities
Proceeds from issue of shares
-
149,947
Payment of finance leases obligations
(8,189)
(6,889)
Net cash (used in)/generated from financing activities
(8,189)
143,058
Net increase/(decrease) in cash and cash equivalents
107,059
(553,139)
Cash and cash equivalents at beginning of year
4,034,590
4,587,729
Cash and cash equivalents at end of year
4,141,649
4,034,590
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
1
Accounting policies
Company information

Dash Brands Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 8th Floor, New Penderel House, 283-288 High Holborn, London, WC1V 7HP.

The group consists of Dash Brands Ltd and all of its subsidiaries.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Dash Brands Ltd together with all entities controlled by the parent company (with the exception of dormant subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used in line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

The company recognises revenue from the following major sources:

- Manufacture of soft drinks

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Manufacture of soft drinks

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

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% straight line
Fixtures and fittings
33% straight line
Computers
33% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.7
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -
1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 20 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 21 -
1.15
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

The expense in relation to options over the parent company’s shares granted to employees of a subsidiary is recognised by the c ompany as a capital contribution, and presented as an increase in the company’s investment in that subsidiary.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by geographical market
UK & Continental Europe
21,346,979
14,945,900
APAC
1,134,121
2,281,946
22,481,100
17,227,846
2025
2024
£
£
Other revenue
Interest income
86,831
115,316
4
Operating loss
2025
2024
£
£
Operating loss for the year is stated after charging:
Exchange losses
61,504
372,360
Fees payable to the group's auditor for the audit of the group's financial statements
27,600
27,200
Depreciation of owned tangible fixed assets
42,459
33,091
Loss on disposal of tangible fixed assets
5,092
-
Share-based payments
11,722
110,502
Operating lease charges
184,923
103,855
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
5
Employees

The average monthly number of persons employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Directors
3
3
3
3
Staff
33
31
33
25
Total
36
34
36
28

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
2,713,900
2,377,476
2,638,133
2,062,000
Social security costs
356,425
239,760
356,425
239,760
Pension costs
83,435
97,425
79,089
58,418
3,153,760
2,714,661
3,073,647
2,360,178
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
442,724
337,360

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 3).

Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
160,756
116,980
Company pension contributions to defined contribution schemes
4,500
4,050
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
86,831
115,316
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
86,831
115,316
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Interest on finance leases and hire purchase contracts
1,463
2,762
Other interest
-
29
Total finance costs
1,463
2,791
9
Taxation

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(449,816)
(2,338,336)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(112,454)
(584,584)
Tax effect of expenses that are not deductible in determining taxable profit
(920)
900,292
Tax effect of utilisation of tax losses not previously recognised
-
0
(5,557)
Unutilised tax losses carried forward
150,490
(531,026)
Change in unrecognised deferred tax assets
(40,047)
528,497
Effect of change in corporation tax rate
-
(335,248)
Share based payment charge
2,931
27,626
Taxation charge
-
-
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
10
Tangible fixed assets
Group
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
-
0
42,163
52,303
63,944
158,410
Additions
40,598
-
0
21,246
-
0
61,844
Disposals
-
0
(1,120)
(2,973)
(9,954)
(14,047)
At 31 December 2025
40,598
41,043
70,576
53,990
206,207
Depreciation and impairment
At 1 January 2025
-
0
15,853
32,823
37,282
85,958
Depreciation charged in the year
3,330
12,368
13,263
13,498
42,459
Eliminated in respect of disposals
-
0
(492)
(1,498)
(2,414)
(4,404)
At 31 December 2025
3,330
27,729
44,588
48,366
124,013
Carrying amount
At 31 December 2025
37,268
13,314
25,988
5,624
82,194
At 31 December 2024
-
0
26,310
19,480
26,662
72,452
Company
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
-
0
41,043
49,330
53,990
144,363
Additions
40,598
-
0
21,246
-
0
61,844
At 31 December 2025
40,598
41,043
70,576
53,990
206,207
Depreciation and impairment
At 1 January 2025
-
0
15,361
31,325
34,868
81,554
Depreciation charged in the year
3,330
12,368
13,263
13,498
42,459
At 31 December 2025
3,330
27,729
44,588
48,366
124,013
Carrying amount
At 31 December 2025
37,268
13,314
25,988
5,624
82,194
At 31 December 2024
-
0
25,682
18,005
19,122
62,809
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
11
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
12
5
5
54
54
Movements in fixed asset investments
Group
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025 and 31 December 2025
5
Carrying amount
At 31 December 2025
5
At 31 December 2024
5

Included within investments in subsidiaries is an amount of £5 (2024: £5) which relates entirely to Dash Brands USA Ltd, a dormant subsidiary excluded from consolidation.

Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025 and 31 December 2025
54
Carrying amount
At 31 December 2025
54
At 31 December 2024
54
12
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Dash Brands Pacific PTY Ltd
Australia
Ordinary
100.00
Dash Brands USA Ltd
USA
Ordinary
100.00

Dash Brands USA Ltd is excluded from the consolidation on the basis that it is dormant.

DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 27 -
13
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Finished goods and goods for resale
2,690,873
2,893,894
2,690,873
2,126,462
14
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
3,116,634
2,124,453
3,090,933
1,770,923
Amounts owed by group undertakings
12,767
12,768
12,767
370,264
Other debtors
144,622
198,228
144,622
169,725
Prepayments and accrued income
189,809
124,347
189,809
111,412
3,463,832
2,459,796
3,438,131
2,422,324
15
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
17
24,572
8,189
24,572
8,189
Trade creditors
1,096,412
725,011
1,096,412
683,340
Other taxation and social security
1,071,566
711,341
1,070,612
687,158
Other creditors
2,800
52,892
2,800
20,202
Accruals and deferred income
2,074,055
1,517,702
2,074,055
1,302,194
4,269,405
3,015,135
4,268,451
2,701,083

Debentures are held by National Westminster Bank Plc and RBS Invoice Finance Limited over the present and future assets and undertaking s of the Group.

16
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
17
-
0
24,572
-
0
24,572
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
17
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
24,572
8,189
24,572
8,189
In two to five years
-
0
24,572
-
0
24,572
24,572
32,761
24,572
32,761

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
83,435
97,425

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

19
Share-based payment transactions
Group and company
Number of share options
Weighted average exercise price
2025
2024
2025
2024
Number
Number
£
£
Outstanding at 1 January 2025
21,281
19,138
37.82
32.10
Granted
4,217
2,716
43.77
74.32
Forfeited
(4,377)
(573)
69.26
19.92
Outstanding at 31 December 2025
21,121
21,281
32.70
37.82
Exercisable at 31 December 2025
-
-
-
-

Options granted under this scheme are exercisable only upon a qualifying exit event. If no such event occurs within 10 years from the date of grant the options will expire and be forfeited.

Group
Company
2025
2024
2025
2024
£
£
£
£
Expenses recognised in the year
Arising from equity settled share based payment transactions
11,722
110,502
11,722
110,502
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
20
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £0.00001 each
206,893
206,893
2
2
Ordinary A shares of £0.00001 each
69,836
69,836
1
1
276,729
276,729
3
3
21
Financial commitments, guarantees and contingent liabilities

Total financial commitments which are not included in the balance sheet amount to £5,515,354 (2024 £2,851,187) and relate to forward currency contracts, maturing in the nine months after the year end,

22
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
128,432
85,621
128,432
85,621
Between two and five years
-
128,432
-
128,432
128,432
214,053
128,432
214,053
23
Cash absorbed by group operations
2025
2024
£
£
Loss after taxation
(449,816)
(2,338,336)
Adjustments for:
Finance costs
1,463
2,791
Investment income
(86,831)
(115,316)
Loss on disposal of tangible fixed assets
5,092
-
Depreciation and impairment of tangible fixed assets
42,459
33,091
Equity settled share based payment expense
11,722
110,502
Movements in working capital:
Decrease in stocks
203,021
1,509,414
Increase in debtors
(1,004,036)
(323,934)
Increase in creditors
1,237,887
103,563
Cash absorbed by operations
(39,039)
(1,018,225)
DASH BRANDS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 30 -
24
Cash generated from/(absorbed by) operations - company
2025
2024
£
£
Profit/(loss) after taxation
152,144
(4,462,441)
Adjustments for:
Finance costs
1,463
2,791
Investment income
(86,831)
(115,316)
Depreciation and impairment of tangible fixed assets
42,459
31,587
Other gains and losses
(39,090)
3,559,123
Equity settled share based payment expense
11,722
110,502
Movements in working capital:
(Increase)/decrease in stocks
(564,411)
1,708,366
Increase in debtors
(976,717)
(1,674,687)
Increase in creditors
1,550,985
61,461
Cash generated from/(absorbed by) operations
91,724
(778,614)
25
Analysis of changes in net funds - group
1 January 2025
Cash flows
Exchange rate movements
31 December 2025
£
£
£
£
Cash at bank and in hand
4,198,017
(19,153)
(885)
4,177,979
Obligations under finance leases
(32,761)
8,189
-
(24,572)
4,165,256
(10,964)
(885)
4,153,407
26
Analysis of changes in net funds - company
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
4,034,590
107,059
4,141,649
Obligations under finance leases
(32,761)
8,189
(24,572)
4,001,829
115,248
4,117,077
2025-12-31 2025-01-01 false false CCH Software CCH Accounts Production 2026.200 A W L Wright J H Scott L J Edis F Hall E P Jackson T J McAlpine D R Milner E L Biasiolo AFP Services Limited false 10016000 bus:Consolidated 2025-01-01 2025-12-31 10016000 2025-01-01 2025-12-31 10016000 bus:Director1 2025-01-01 2025-12-31 10016000 bus:Director2 2025-01-01 2025-12-31 10016000 bus:Director4 2025-01-01 2025-12-31 10016000 bus:Director5 2025-01-01 2025-12-31 10016000 bus:Director6 2025-01-01 2025-12-31 10016000 bus:Director7 2025-01-01 2025-12-31 10016000 bus:Director8 2025-01-01 2025-12-31 10016000 bus:CompanySecretary1 2025-01-01 2025-12-31 10016000 bus:Director3 2025-01-01 2025-12-31 10016000 bus:RegisteredOffice 2025-01-01 2025-12-31 10016000 2025-12-31 10016000 bus:Consolidated 2025-12-31 10016000 bus:Consolidated 2024-01-01 2024-12-31 10016000 2024-01-01 2024-12-31 10016000 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-01-01 2025-12-31 10016000 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-01-01 2024-12-31 10016000 bus:Consolidated 2024-12-31 10016000 2024-12-31 10016000 core:PlantMachinery bus:Consolidated 2025-12-31 10016000 core:FurnitureFittings bus:Consolidated 2025-12-31 10016000 core:ComputerEquipment bus:Consolidated 2025-12-31 10016000 core:MotorVehicles bus:Consolidated 2025-12-31 10016000 core:PlantMachinery bus:Consolidated 2024-12-31 10016000 core:FurnitureFittings bus:Consolidated 2024-12-31 10016000 core:ComputerEquipment bus:Consolidated 2024-12-31 10016000 core:MotorVehicles bus:Consolidated 2024-12-31 10016000 core:PlantMachinery 2025-12-31 10016000 core:FurnitureFittings 2025-12-31 10016000 core:ComputerEquipment 2025-12-31 10016000 core:MotorVehicles 2025-12-31 10016000 core:PlantMachinery 2024-12-31 10016000 core:FurnitureFittings 2024-12-31 10016000 core:ComputerEquipment 2024-12-31 10016000 core:MotorVehicles 2024-12-31 10016000 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-12-31 10016000 core:CurrentFinancialInstruments bus:Consolidated 2024-12-31 10016000 core:ShareCapital bus:Consolidated 2025-12-31 10016000 core:ShareCapital bus:Consolidated 2024-12-31 10016000 core:SharePremium bus:Consolidated 2025-12-31 10016000 core:SharePremium bus:Consolidated 2024-12-31 10016000 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-12-31 10016000 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-12-31 10016000 core:ShareCapital 2025-12-31 10016000 core:ShareCapital 2024-12-31 10016000 core:SharePremium 2025-12-31 10016000 core:SharePremium 2024-12-31 10016000 core:RetainedEarningsAccumulatedLosses 2025-12-31 10016000 core:RetainedEarningsAccumulatedLosses 2024-12-31 10016000 core:ShareCapital bus:Consolidated 2023-12-31 10016000 core:SharePremium bus:Consolidated 2023-12-31 10016000 2023-12-31 10016000 core:ShareCapital 2023-12-31 10016000 core:SharePremium 2023-12-31 10016000 core:RetainedEarningsAccumulatedLosses 2023-12-31 10016000 core:ShareCapital bus:Consolidated 2024-01-01 2024-12-31 10016000 core:SharePremium bus:Consolidated 2024-01-01 2024-12-31 10016000 core:ShareCapital 2024-01-01 2024-12-31 10016000 core:SharePremium 2024-01-01 2024-12-31 10016000 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 10016000 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 10016000 bus:Consolidated 2023-12-31 10016000 core:PlantMachinery 2025-01-01 2025-12-31 10016000 core:FurnitureFittings 2025-01-01 2025-12-31 10016000 core:ComputerEquipment 2025-01-01 2025-12-31 10016000 core:MotorVehicles 2025-01-01 2025-12-31 10016000 bus:Consolidated 1 2025-01-01 2025-12-31 10016000 bus:Consolidated 1 2024-01-01 2024-12-31 10016000 core:PlantMachinery bus:Consolidated 2024-12-31 10016000 core:FurnitureFittings bus:Consolidated 2024-12-31 10016000 core:ComputerEquipment bus:Consolidated 2024-12-31 10016000 core:MotorVehicles bus:Consolidated 2024-12-31 10016000 bus:Consolidated 2024-12-31 10016000 core:PlantMachinery 2024-12-31 10016000 core:FurnitureFittings 2024-12-31 10016000 core:ComputerEquipment 2024-12-31 10016000 core:MotorVehicles 2024-12-31 10016000 2024-12-31 10016000 core:PlantMachinery bus:Consolidated 2025-01-01 2025-12-31 10016000 core:FurnitureFittings bus:Consolidated 2025-01-01 2025-12-31 10016000 core:ComputerEquipment bus:Consolidated 2025-01-01 2025-12-31 10016000 core:MotorVehicles bus:Consolidated 2025-01-01 2025-12-31 10016000 core:Subsidiary1 2025-01-01 2025-12-31 10016000 core:Subsidiary2 2025-01-01 2025-12-31 10016000 core:Subsidiary1 1 2025-01-01 2025-12-31 10016000 core:Subsidiary2 2 2025-01-01 2025-12-31 10016000 core:CurrentFinancialInstruments bus:Consolidated 2025-12-31 10016000 core:CurrentFinancialInstruments 2025-12-31 10016000 core:CurrentFinancialInstruments 2024-12-31 10016000 core:CurrentFinancialInstruments bus:Consolidated 1 2025-12-31 10016000 core:CurrentFinancialInstruments bus:Consolidated 1 2024-12-31 10016000 core:CurrentFinancialInstruments 2 2025-12-31 10016000 core:CurrentFinancialInstruments 2 2024-12-31 10016000 core:Non-currentFinancialInstruments bus:Consolidated 2025-12-31 10016000 core:Non-currentFinancialInstruments bus:Consolidated 2024-12-31 10016000 core:Non-currentFinancialInstruments 2025-12-31 10016000 core:Non-currentFinancialInstruments 2024-12-31 10016000 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-12-31 10016000 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 10016000 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10016000 core:WithinOneYear bus:Consolidated 2025-12-31 10016000 core:WithinOneYear bus:Consolidated 2024-12-31 10016000 core:WithinOneYear 2025-12-31 10016000 core:WithinOneYear 2024-12-31 10016000 core:BetweenTwoFiveYears bus:Consolidated 2025-12-31 10016000 core:BetweenTwoFiveYears bus:Consolidated 2024-12-31 10016000 core:BetweenTwoFiveYears 2025-12-31 10016000 core:BetweenTwoFiveYears 2024-12-31 10016000 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 10016000 bus:FRS102 2025-01-01 2025-12-31 10016000 bus:Audited 2025-01-01 2025-12-31 10016000 bus:ConsolidatedGroupCompanyAccounts 2025-01-01 2025-12-31 10016000 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP