REGISTERED NUMBER: 08016434 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 November 2025

for

Accu Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

Mr A J Kitson

Mr A Wight

Mr M R Ackroyd

Mr A R Morris

Dr R Durr

REGISTERED OFFICE:

Hope Bank Works

New Mill Road

Holmfirth

West Yorkshire

HD9 6PT

REGISTERED NUMBER:

08016434 (England and Wales)

AUDITORS:

BK Plus Ltd Chartered Accountants

and Statutory Auditors

Abacus House

Pennine Business Park

Huddersfield

West Yorkshire

HD2 1GQ

The directors present their strategic report for the year ended 30 November 2025.

The business has reported a pre-tax profit of £2,118,405 (12 months to 30 November 2024: £668,051) on revenue of £19,061,379 (12 months to 30 November 2024: £15,400,372), while shareholders' funds have increased to £1,655,048 (30 November 2024: £641,506).

The twelve month comparative is made up of the prior eight month period and four months of the year ended 31 March 2024.

The Board is pleased to report on the continued sustainable growth across the business building on the investments made over the previous two years that have now allowed the business to grow 24% top line. Alongside this the Business has seen significant growth in Gross Margins and benefited from operational efficiency initiatives that has meant this growth has gone alongside improved profitability.

REVIEW OF BUSINESS

The Board of Directors is pleased to report that the Company's financial position remains strong, driven by the strategic investments made in margin, personnel, and online advertising. These investments have quickly delivered efficiencies, enhanced operational performance, and significantly improved financial results.

The positive results presented in this report serve as a clear indicator that the Company is on track for its long-term growth trajectory. During this period, the company has experienced an increase in working capital, with improved cash balances which has enabled an investment in stock holding to support strong revenue generation.

Key performance indicators (KPIs) remain consistent with previous years, focusing on Revenue Growth, Profitability, Net Promoter Score (NPS), and Employee Net Promoter Score (eNPS). The Board is pleased to report that all KPIs have been met or exceeded. Revenue has grown by 24% year on year, supported by continued strong customer acquisition and retention. Gross Margin has also seen a 43% year on year growth due to a combination of expansion in product ranges, onboarding of new suppliers and the introduction of consignment stock that allows Accu to service more customers next day. Our innovative product ranges go from strength to strength generating significant growth and margin improvement.

Customer satisfaction remains a core focus, reflected in a consistent NPS score of 82, significantly above industry benchmarks. The Company also continues to prioritise investment in its people, recognising that delivering customer excellence is only possible with a strong employee experience. This commitment is reflected in the Employee Net Promoter Score (eNPS) at 23 well above the UK average of 13, demonstrating a highly engaged and motivated workforce, but also using the feedback to drive future plans for improvement.

The Company continues to benefit from the relocation to its new warehouse and office, which have provided the infrastructure needed to drive significant process improvements, expand the product range, and enhance operational efficiencies. The increased capacity has enabled the business to implement more streamlined workflows, improve stock management, and scale operations more effectively. A key development has been the expansion of consignment stock agreements with suppliers. This has enabled the ability to offer more product for same day dispatch without the need for additional working capital. This has already led to improvements in On-Time In-Full (OTIF) dispatch performance and conversion rate.

Despite the continued advancements detailed above, substantial opportunities remain to further enhance systems and processes to drive greater operational efficiencies. These improvements will enable more streamlined order processing, faster delivery times, and an enhanced customer experience, ultimately leading to higher NPS scores and improved profitability. The Company's strategic objective is to achieve significant operational efficiencies, bringing new technology and processes to the warehouse, which will further support future growth in both the UK and international markets.

The economic environment in which the Company operates is more stable than it was 12 months ago. The change in Government during the prior period did not cause immediate market disruptions, but a weak UK economy continues to limit manufacturing growth in the domestic market, and it remains essential that stability and fiscal policies are loosened to support the sector. Export markets continue to grow at a faster rate despite uncertain and changing trade conditions.

FUTURE PROSPECTS AND BUSINESS RISKS

The Board remains confident that the Company is well positioned for significant growth in the coming years, supported by strategic investments and operational efficiencies. However, market uncertainties remain following the change in UK Government and tax legislation, as well as the potential impact of international tariffs following the U.S. presidential election. The U.S. market has been identified as a key growth opportunity, and while it presents significant potential, the evolving trade landscape will require careful navigation to mitigate risks and capitalise on emerging opportunities.

These uncertainties are driving an acceleration in plans already made to further internationalise. The business remains fully committed to expanding into the U.S. market, with ongoing engagement with strategic partners to establish a robust foundation for operations with plans now developed to an advanced stage. At the same time, investment continues to position Accu as a technology-driven partner for the precision engineering industry. This allows the business to respond faster than competition and create growth opportunities from changing market conditions. This will see the business adopt additional digital solutions around logistics, operations, finance and customer service to enhance the customer offering and reduce manual intervention.

With the increased capacity of the new premises, the Company continues to be able to pursue new avenues for growth. The ongoing expansion of product range includes larger and more complex items, which were previously unfeasible to stock or distribute. As part of the long-term strategy, the next phase will focus on integrating warehouse technology to enhance productivity and support business growth. These advancements will allow the Company to scale efficiently without a proportional increase in direct labour, reinforcing the commitment to sustainable expansion and operational excellence.

The business continues a strategic focus on enhancing brand awareness within the target customer base. By increasing organic brand recognition, the dependency on paid advertising will reduce and customer retention will increase. A key milestone in this effort has been the recent designation as the Official Engineering Partner of Huddersfield Town Football Club, providing valuable brand exposure and reinforcing Accu's position as a trusted partner within the industry.

The Board would like to extend its sincere appreciation to the entire team for their dedication, resilience, and commitment. Their collective efforts have been instrumental in driving the Company's growth and positioning it for future growth. Thanks to their hard work, the business is now stronger and well placed to capitalise on new opportunities, both domestically and internationally, as it moves into the next phase of expansion.

SECTION 172(1) STATEMENT

The Board believe that individually and collectively they have acted in a way they considered, in good faith, would be the most likely to promote the success of the Company for the benefit of its members, and in so doing, had regard for matters set out in s172 (1) (a-f) of the Companies Act 2006.

The stakeholders of the Company are also directors and involved in the decision-making process. The Board continually seeks opportunities to create value by monitoring market trends and adjusting products and services accordingly. Over the past year, this approach has included attending trade shows globally and entering into new agreements with manufacturing partners across America, Europe and Asia.

The Board recognises that employees, funders, and manufacturing partners are key stakeholders in the Company's success. Employee engagement remains a core focus, with eNPS embraced as a key driver in shaping workplace culture and continuous improvement efforts.

Initiatives introduced in previous years are being continued and enhanced, reinforcing the commitment to employee recognition, development, and well-being. The adoption of The Happiness Index has provided valuable insights, enabling implementation of clear action plans to enhance training and development, internal communication, and employee benefits.

Looking ahead, The Board remains committed to driving innovation in employee engagement, ensuring that Accu continues to be an exceptional place to work, while fostering a culture that supports both business performance and employee satisfaction.

The Board believes in the Company's duty to contribute positively to the local community and globally, while also recognising its responsibility to minimise environmental impact. Now in its second year of supporting local charities through various initiatives, the Company's primary contribution is through time, with each Accu team member given a full day to volunteer. Each year, the team selects a charity to be Accu's charity of the year. Last year, the chosen charity is The Kirkwood, which offers specialist care, free of charge, to adults in Kirklees with advanced, progressive illnesses, from diagnosis through to end-of-life care.

The support of STEM educational activities has again increased. In addition to scholarship grants for University Engineering students, local school engagement work has been increased with support from Make UK's National Manufacturing Day and the West Yorkshire Combined Authority's Cornerstone school and employer engagement programme.

GOING CONCERN

The directors are confident that the Company has sufficient resources to continue its operations for the foreseeable future.

ENVIRONMENTAL AND SUSTAINABILITY REPORT

The Company is committed to operating in an environmentally responsible manner and continuously strives to reduce its environmental impact. Progress continues toward the target of net zero emissions by 2030. The move to a new building has allowed significant steps on this journey, with energy efficient LED lighting and electric heating.

Steps have been made to reduce waste and consumption, and increase recycling levels. Customers are encouraged to reuse and recycle the packaging that they receive.

Sustainable practices are essential not only for the well-being of the planet but also for the long-term success of the business. Although not required, Accu will shortly publish a full sustainability report to document its activities to date and plans for the future.

To further drive these initiatives forward and ensure continued investment, the Company has formed an internal sustainability task force, actively seeking ways to exceed regulatory requirements, ensuring that practices reflect the highest environmental standards.

Environmental sustainability is integrated into business strategy, to reduce ecological footprint while enhancing operational resilience. The Board remains fully committed to making responsible and sustainable business decisions for the benefit of both current and future generations.

ON BEHALF OF THE BOARD:

Mr M R Ackroyd - Director

6 August 2026

The directors present their report with the financial statements of the company for the year ended 30 November 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of selling of precision engineering components.

DIVIDENDS

Final dividends were paid during the year amounting to £581,175 (2024: £402,000).

DIRECTORS

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

Mr A J Kitson

Mr A Wight

Mr M R Ackroyd

Mr A R Morris

Dr R Durr

Other changes in directors holding office are as follows:

Mr A J Smith - resigned 27 June 2025

Dr R Durr ceased to be a director after 30 November 2025 but prior to the date of this report

POLITICAL DONATIONS AND EXPENDITURE

The Company did not make any political donations during the year. (2024: £nil).

Throughout the year, the Company supported various local charities and organisations, with The Kirkwood, a local charity that assists families and individuals to improve the quality of life and supporting families and loved ones to live on and live well, designated as our charity of the year. Employees are encouraged to participate in charitable activities, with the Company offering a paid day for each employee to volunteer with local charities.

OTHER INFORMATION

Financial risk management objectives and policies, information on exposure to credit risk, foreign currency risk, price risk, liquidity and cash flow risk as well as an indication of likely future developments in the business and particulars of significant events which have occurred since the end of the financial year are included within the Strategic Report contained in these accounts.

ENGAGEMENT WITH EMPLOYEES

The Company acknowledges the significance of having a well-trained and versatile workforce at all levels. Accordingly, substantial resources are allocated towards training and development to improve the effectiveness of the individuals within the business.

Throughout the year, the directors have implemented policies and initiatives to engage and communicate with employees in a proactive manner. All employees receive regular business updates, during which the directors share information on company performance and developments. In addition, bi-annual town hall meetings and employee recognition programs have been established. A formal, anonymous employee survey and suggestion process has also been introduced, leading to several tangible improvements for employees, such as training and development, internal communications and benefits package.

The Company maintains a policy of offering equal opportunities to employees at all levels with regard to working conditions. It is the Board's commitment to provide employment opportunities and training for individuals with disabilities, as well as to support and accommodate employees who may become disabled during their employment.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, BK Plus Ltd Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr M R Ackroyd - Director

6 August 2026

Opinion

We have audited the financial statements of Accu Limited (the 'company') for the year ended 30 November 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 November 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages five and six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Our work involves obtaining an understanding of the company and the relevant laws and regulations applicable in the industry.

We design our audit work based on our assessment of the risk of material misstatement in the accounts but recognising that the risk of not detecting fraud is higher as this is likely to involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We plan our work so that the information disclosed in the financial statements agrees to supporting documentation and management expectations. Our tests included agreeing the financial statement disclosures to underlying supporting

documentation, enquiries with management, review of client's operation of controls within the year. There are inherent limitations in the audit procedures described and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

Our work includes an assessment of the company's accounting systems which enables us to focus our testing on areas that may be more susceptible to misstatement. This work involves :assessing the company's susceptibility to material misstatement or occurrence of fraud the testing of transactions where the assessment of risk is higher including in particular journal entries, management estimates and large or unusual transactions checking that the information contained in the financial statements is consistent with the company's underlying accounting records and the results of our audit work

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

Use of our report

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

Chris Hession C.A (Senior Statutory Auditor)

for and on behalf of BK Plus Ltd Chartered Accountants

and Statutory Auditors

Abacus House

Pennine Business Park

Huddersfield

West Yorkshire

HD2 1GQ

10 August 2026

TURNOVER

19,061,379

10,909,559

Cost of sales

7,698,107

5,369,279

GROSS PROFIT

11,363,272

5,540,280

Administrative expenses

9,310,867

4,796,263

2,052,405

744,017

Other operating income

111,360

1,000

OPERATING PROFIT

4

2,163,765

745,017

Interest receivable and similar income

134

1,036

2,163,899

746,053

Interest payable and similar expenses

7

45,494

44,595

PROFIT BEFORE TAXATION

2,118,405

701,458

Tax on profit

8

523,688

181,424

PROFIT FOR THE FINANCIAL YEAR

1,594,717

520,034

PROFIT FOR THE YEAR

1,594,717

520,034

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,594,717

520,034

FIXED ASSETS

Intangible assets

10

7,800

16,263

Tangible assets

11

742,344

647,194

750,144

663,457

CURRENT ASSETS

Stocks

12

1,945,566

1,675,888

Debtors

13

1,664,590

1,098,459

Cash at bank and in hand

1,197,651

662,027

4,807,807

3,436,374

CREDITORS

Amounts falling due within one year

14

3,455,853

2,951,453

NET CURRENT ASSETS

1,351,954

484,921

TOTAL ASSETS LESS CURRENT LIABILITIES

2,102,098

1,148,378

CREDITORS

Amounts falling due after more than one year

15

(288,533

)

(370,859

)

PROVISIONS FOR LIABILITIES

19

(158,517

)

(136,013

)

NET ASSETS

1,655,048

641,506

CAPITAL AND RESERVES

Called up share capital

20

1,000

1,000

Retained earnings

21

1,654,048

640,506

SHAREHOLDERS' FUNDS

1,655,048

641,506

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2026 and were signed on its behalf by:

Mr M R Ackroyd - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2024

1,000

522,472

523,472

Changes in equity

Dividends

-

(402,000

)

(402,000

)

Total comprehensive income

-

520,034

520,034

Balance at 30 November 2024

1,000

640,506

641,506

Changes in equity

Dividends

-

(581,175

)

(581,175

)

Total comprehensive income

-

1,594,717

1,594,717

Balance at 30 November 2025

1,000

1,654,048

1,655,048

Cash flows from operating activities

Cash generated from operations

1

1,794,203

662,121

Interest paid

(45,237

)

(42,536

)

Finance costs paid

(257

)

(2,060

)

Tax paid

(151,075

)

(7,036

)

Net cash from operating activities

1,597,634

610,489

Cash flows from investing activities

Purchase of tangible fixed assets

(305,388

)

(156,251

)

Interest received

134

1,036

Net cash from investing activities

(305,254

)

(155,215

)

Cash flows from financing activities

Loan repayments in year

(79,905

)

(117,112

)

Amount introduced by directors

655,539

564,719

Amount withdrawn by directors

(655,539

)

(162,781

)

Amounts loaned to group companies

(95,676

)

(171,970

)

Equity dividends paid

(581,175

)

(402,000

)

Net cash from financing activities

(756,756

)

(289,144

)

Increase in cash and cash equivalents

535,624

166,130

Cash and cash equivalents at beginning of year

2

662,027

495,897

Cash and cash equivalents at end of year

2

1,197,651

662,027

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

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Profit before taxation

2,118,405

701,458

Depreciation charges

209,655

82,148

Loss on disposal of fixed assets

9,045

9,515

Finance costs

45,494

44,595

Finance income

(134

)

(1,036

)

2,382,465

836,680

(Increase)/decrease in stocks

(269,678

)

152,672

Increase in trade and other debtors

(470,454

)

(199,274

)

Increase/(decrease) in trade and other creditors

151,870

(127,957

)

Cash generated from operations

1,794,203

662,121

2.	CASH AND CASH EQUIVALENTS

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

Year ended 30 November 2025

30.11.25

1.12.24

£

£

Cash and cash equivalents

1,197,651

662,027

Period ended 30 November 2024

30.11.24

1.4.24

£

£

Cash and cash equivalents

662,027

495,897

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.24

Cash flow

At 30.11.25

£

£

£

Net cash

Cash at bank and in hand

662,027

535,624

1,197,651

662,027

535,624

1,197,651

Debt

Debts falling due within 1 year

(176,374

)

(2,421

)

(178,795

)

Debts falling due after 1 year

(370,859

)

82,326

(288,533

)

(547,233

)

79,905

(467,328

)

Total

114,794

615,529

730,323

1.	STATUTORY INFORMATION

Accu Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Short leasehold

- 25% on reducing balance

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 20% on cost

Motor vehicles

- 25% on reducing balance

Computer equipment

- 33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Wages and salaries

4,414,679

2,431,366

Social security costs

486,758

227,397

Other pension costs

197,737

64,664

5,099,174

2,723,427

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

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

Admin

68

61

Production

60

48

128

109

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Directors' remuneration

516,661

311,931

Directors' pension contributions to money purchase schemes

39,548

8,344

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

Money purchase schemes

5

5

Information regarding the highest paid director is as follows:

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Emoluments etc

153,410

81,064

Pension contributions to money purchase schemes

10,562

2,194

4.	OPERATING PROFIT

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

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Hire of plant and machinery

152

-

Other operating leases

147,763

106,487

Depreciation - owned assets

209,656

82,147

Loss on disposal of fixed assets

9,045

9,515

Foreign exchange differences

(178,072

)

44,452

5.	AUDITORS' REMUNERATION

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

28,985

24,350

6.	EXCEPTIONAL ITEMS

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Exceptional items

(80,541

)

-

The exceptional items relate to costs incurred on a systems software that is not fit for purpose.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.4.24

Year Ended

to

30.11.25

30.11.24

£

£

Bank loan interest

45,237

29,571

Other interest

257

2,060

Interest on late tax payment

-

12,964

45,494

44,595