Company registration number 08415762 (England and Wales)
The Oxford Health Company Ltd
Annual report and financial statements
For the year ended 31 August 2025
The Oxford Health Company Ltd
Company information
Directors
Mr J E Allan
Mr T E G Humphrey
Mr P J Burrows
Company number
08415762
Registered office
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
Auditor
Kreston Reeves Audit LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
Business address
Unit 4
Longlands Road
Bicester
Oxfordshire
England
OX26 5AH
The Oxford Health Company Ltd
Contents
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 8
Income statement
9
Statement of comprehensive income
10
Statement of financial position
11
Statement of changes in equity
12
Notes to the financial statements
13 - 28
The Oxford Health Company Ltd
Strategic report
For the year ended 31 August 2025
- 1 -

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

Business Review

Turnover for the year was £13.0m (18-month prior period: £15.7m). The prior period covered 18 months to 31 August 2024 following a change in accounting reference date, so the two periods are not directly comparable. Trading reflected continued expansion of the company's contract manufacturing operations, together with sustained customer demand.

Gross margin improved to 28% (prior period: 22%), and operating profit increased to £916k (prior period: £201k), with profit before taxation of £869k (prior period: £113k), despite continuing inflationary pressure on raw materials, packaging, energy and freight.

In July 2025, the company took on an additional unit at its manufacturing plant at Longlands Road, Bicester, expanding capacity to support further growth.

The company ended the period with net assets of £1.8m (2024: £1.4m) and cash balances of £2.2m (2024: £1.7m), underlining its financial strength and resilience.

Principal risks and uncertainties

The company operates in the UK food supplement manufacturing market, which has continued to grow in recent years, supported by rising consumer demand for health and wellness products and estimated by Mintel at approximately £1.7bn in 2025.

The company uses standard financial instruments, including trade receivables, trade payables and cash balances, for operational purposes and does not engage in speculative instruments. It maintained a strong cash position throughout the year, with credit risk on trade receivables managed through customer credit checks, monitored trading terms and, in many cases, up-front deposits.

The business operates in a competitive and price-sensitive market, with inflationary pressure on raw materials, packaging, energy and freight managed through procurement and pricing strategies. The company has moderate foreign currency exposure on EUR and USD denominated transactions, and continues to monitor regulatory developments affecting food supplement labelling and claims in the UK and export markets.

Key performance indicators

The directors consider turnover, gross margin and operating profit to be the Key Performance Indicators of the business.

On behalf of the board

Mr T E G Humphrey
Director
11 August 2026
The Oxford Health Company Ltd
Directors' report
For the year ended 31 August 2025
- 2 -

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

Principal activities

The principal activity of the company continued to be that of production and retail of health supplements and vitamins.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £153,317. The directors do not recommend payment of a final dividend.

Directors

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

Mr J E Allan
Mr T E G Humphrey
Mr P J Burrows
Auditor

In accordance with Section 485 of the Companies Act 2006, The Oxford Health Company appointed Kreston Reeves Audit LLP as its statutory auditor. This appointment was made by the Board of Directors on 12th June 2025.

Statement of directors' responsibilities

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 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; and

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

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

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

The Oxford Health Company Ltd
Directors' report (continued)
For the year ended 31 August 2025
- 3 -
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 company’s auditor 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 company’s auditor is aware of that information.

On behalf of the board
Mr T E G Humphrey
Director
11 August 2026
The Oxford Health Company Ltd
Independent auditor's report
To the members of The Oxford Health Company Ltd
- 4 -

Qualified opinion

We have audited the financial statements of The Oxford Health Company Limited (‘the company’) for the year ended 31 August 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit for the 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 qualified opinion

We were not appointed as auditor of the company until after 31 August 2024 and thus did not observe the counting of physical inventories at the end of that period. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 August 2024, which are included in the balance sheet at £2,332,051, by using other audit procedures.

Consequently, we were unable to determine whether any adjustment to this amount at 31 August 2024 was necessary or whether there was any consequential effect on the cost of sales for the period ended 31 August 2025. In addition, were any adjustment to the inventory balance at 31 August 2024 to be required (or consequential effect), the strategic report would also need to be amended.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 qualified 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.

The Oxford Health Company Ltd
Independent auditor's report (continued)
To the members of The Oxford Health Company Ltd
- 5 -

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.

As described in the basis for qualified opinion section of our report we were unable to satisfy ourselves concerning the inventory quantities of £2,332,051 held at 31 August 2024. We have concluded that where the other information refers to that inventory balance or related balances, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:

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

- the Strategic report and Directors’ report have been prepared in accordance with the applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.

Arising solely from the limitation on the scope of our work related to inventory, referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept.

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:

- 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.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

The Oxford Health Company Ltd
Independent auditor's report (continued)
To the members of The Oxford Health Company Ltd
- 6 -
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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management bias in accounting estimates and judgmental areas of the financial statements such as the valuation of stock. Audit procedures performed by the company engagement team included:

- Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud; and

- Assessment of identified fraud risk factors; and

- Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; and

- Challenging assumptions and judgements made by management in its significant accounting estimates; and

- Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and

- Reading minutes of meetings of those charged with governance; and

- Physical inspection of tangible assets susceptible to fraud or irregularities; and

- Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and

- Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.

The Oxford Health Company Ltd
Independent auditor's report (continued)
To the members of The Oxford Health Company Ltd
- 7 -

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting

estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Other matters which we are required to address

The prior period financial statements for the period ended 31 August 2024 were not audited. Accordingly, the corresponding figures presented as part of the financial statements for the year ended 31 August 2025 are unaudited.

The Oxford Health Company Ltd
Independent auditor's report (continued)
To the members of The Oxford Health Company Ltd
- 8 -

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an 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 Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Webber BA (Hons) DChA FCA (Senior Statutory Auditor)
For and on behalf of Kreston Reeves Audit LLP, Statutory Auditor
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
11 August 2026
The Oxford Health Company Ltd
Income Statement
For the year ended 31 August 2025
- 9 -
Year
Period
ended
ended
31 August
31 August
2025
2024
Notes
£
£
Turnover
3
12,979,354
15,739,415
Cost of sales
(9,380,117)
(12,267,820)
Gross profit
3,599,237
3,471,595
Administrative expenses
(2,686,933)
(3,279,507)
Other operating income
4,188
9,011
Operating profit
4
916,492
201,099
Interest receivable and similar income
7
14,497
71
Interest payable and similar expenses
8
(62,270)
(88,529)
Profit before taxation
868,719
112,641
Tax on profit
9
(254,262)
(107,594)
Profit for the financial year
614,457
5,047
The Oxford Health Company Ltd
Statement of comprehensive income
For the year ended 31 August 2025
- 10 -
Year
Period
ended
ended
2025
2024
£
£
Profit for the year
614,457
5,047
Other comprehensive income
-
-
Total comprehensive income for the year
614,457
5,047
The Oxford Health Company Ltd
Statement Of Financial Position
As at 31 August 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
6,895
8,180
Tangible assets
12
597,013
588,102
Investments
13
19,400
19,400
623,308
615,682
Current assets
Stocks
14
2,060,595
2,332,051
Debtors
15
1,118,937
479,564
Cash at bank and in hand
2,189,589
1,696,892
5,369,121
4,508,507
Creditors: amounts falling due within one year
16
(3,729,972)
(3,204,018)
Net current assets
1,639,149
1,304,489
Total assets less current liabilities
2,262,457
1,920,171
Creditors: amounts falling due after more than one year
17
(294,117)
(412,071)
Provisions for liabilities
Deferred tax liability
21
131,600
132,500
(131,600)
(132,500)
Net assets
1,836,740
1,375,600
Capital and reserves
Called up share capital
24
85
85
Capital redemption reserve
25
15
15
Profit and loss reserves
26
1,836,640
1,375,500
Total equity
1,836,740
1,375,600

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 11 August 2026 and are signed on its behalf by:
Mr T E G Humphrey
Director
Company registration number 08415762 (England and Wales)
The Oxford Health Company Ltd
Statement of changes in equity
For the year ended 31 August 2025
- 12 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Period ended 31 August 2024:
Profit and total comprehensive income
-
-
5,047
5,047
Dividends
10
-
-
(148,457)
(148,457)
Balance at 31 August 2024
85
15
1,375,500
1,375,600
Year ended 31 August 2025:
Profit and total comprehensive income
-
-
614,457
614,457
Dividends
10
-
-
(153,317)
(153,317)
Balance at 31 August 2025
85
15
1,836,640
1,836,740
The Oxford Health Company Ltd
Notes to the financial statements
For the year ended 31 August 2025
- 13 -
1
Accounting policies
Company information

The Oxford Health Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Glades, Festival Way, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SQ.

1.1
Reporting period

The prior financial statements cover an 18 month period, as the reporting date was extended from February 2024 to August 2024. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

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 cover the company as an individual entity and 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

The financial statements of the company are consolidated in the financial statements of TOHC Holdings Limited. These consolidated financial statements are available from its registered office, The Glades, Festival Way, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SQ.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other group entities where the relationship is one of being wholly owned.

1.3
Going concern

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

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 14 -
1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

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 despatch 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.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Patents & licences
Ten years
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:

Improvements to property
20% on cost
Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Computers
25% on cost
Motor vehicles
25% on cost

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 credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in classic cars are initially measured at cost and subsequently measured at fair value through profit and loss. The investments are valued at each reporting year end and adjustments are recognised immediately in profit and loss.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 15 -
1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

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.

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 and at bank.

1.11
Financial instruments

The company 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 company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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, loans to fellow group companies 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 method 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.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 16 -
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 company 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, hire purchase contracts and bank loans, 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. A m ounts 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.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 17 -
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 s ubsequently 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 company’s contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the company 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 company.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 18 -
1.14
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.

1.15
Retirement benefits

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

1.16
Leases
As lessee

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 statement of financial position 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 s asset are consumed.

1.17
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.18
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.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 19 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful economic lives of tangible fixed assets

The useful economic lives and residual values of tangible fixed assets are re-assessed annually and are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Amazon sales
259,334
551,523
B2B Sales
12,443,158
14,793,984
Ebay Sales
51,528
136,345
PayPal Sales
44,289
30,541
Shopify Sales
177,248
227,022
Square Sales
3,797
-
12,979,354
15,739,415
2025
2024
£
£
Turnover analysed by geographical market
UK
12,924,015
15,639,070
Europe
44,507
99,126
USA
10,832
1,219
12,979,354
15,739,415
2025
2024
£
£
Other revenue
Interest income
14,497
71
Grants received
3,998
6,034
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
3
Turnover and other revenue
(Continued)
- 20 -

Income from government grants is from Oxford Council for the purchase of machinery.

4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
7,841
64,061
Government grants
(3,998)
(6,034)
Fees payable to the company's auditor for the audit of the company's financial statements
18,500
-
0
Depreciation of tangible fixed assets
244,749
389,411
Profit on disposal of tangible fixed assets
(3,157)
(15,373)
Amortisation of intangible assets
1,285
1,923
Operating lease charges
261,850
311,482
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors
3
3
Production
46
48
Administrative
16
17
Total
65
68

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,688,192
3,468,871
Social security costs
279,579
322,201
Pension costs
62,293
71,787
3,030,064
3,862,859
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 21 -
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
89,077
134,609
Employers national insurance contribution
10,473
14,896
Company pension contributions to defined contribution schemes
20,382
11,370
119,932
160,875

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
14,497
71
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
59,781
76,988
Other interest
2,489
11,541
62,270
88,529
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
233,408
59,471
Adjustments in respect of prior periods
21,754
60,523
Total current tax
255,162
119,994
Deferred tax
Origination and reversal of timing differences
(900)
(12,400)
Total tax charge
254,262
107,594
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
9
Taxation
(Continued)
- 22 -

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

2025
2024
£
£
Profit before taxation
868,719
112,641
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
217,180
28,160
Tax effect of expenses that are not deductible in determining taxable profit
10,754
5,965
Depreciation on assets not qualifying for tax allowances
4,574
6,346
Under/(over) provided in prior years
21,754
60,523
Deferred tax adjustments in respect of prior years
-
0
6,600
Taxation charge for the year
254,262
107,594
10
Dividends
2025
2024
£
£
Interim paid
153,317
148,457
11
Intangible fixed assets
Patents & licences
£
Cost
At 1 September 2024 and 31 August 2025
12,853
Amortisation and impairment
At 1 September 2024
4,673
Amortisation charged for the year
1,285
At 31 August 2025
5,958
Carrying amount
At 31 August 2025
6,895
At 31 August 2024
8,180
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 23 -
12
Tangible fixed assets
Improvements to property
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 September 2024
226,088
1,291,915
9,353
54,682
50,919
1,632,957
Additions
6,318
217,191
25,592
18,424
33,995
301,520
Disposals
-
0
(50,435)
-
0
-
0
-
0
(50,435)
At 31 August 2025
232,406
1,458,671
34,945
73,106
84,914
1,884,042
Depreciation and impairment
At 1 September 2024
172,706
813,393
3,575
33,673
21,508
1,044,855
Depreciation charged in the year
22,997
190,355
4,348
11,277
15,772
244,749
Eliminated in respect of disposals
-
0
(2,575)
-
0
-
0
-
0
(2,575)
At 31 August 2025
195,703
1,001,173
7,923
44,950
37,280
1,287,029
Carrying amount
At 31 August 2025
36,703
457,498
27,022
28,156
47,634
597,013
At 31 August 2024
53,382
478,522
5,778
21,009
29,411
588,102

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
107,192
130,708
Motor vehicles
45,501
21,322
152,693
152,030
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 24 -
13
Fixed asset investments
2025
2024
£
£
Classic car
19,400
19,400
14
Stocks
2025
2024
£
£
Raw materials and consumables
1,266,969
1,468,894
Work in progress
75,885
76,189
Finished goods and goods for resale
717,741
786,968
2,060,595
2,332,051
15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
399,042
81,405
Amounts owed by group undertakings
177,469
263,518
Other debtors
232,213
124,785
Prepayments and accrued income
310,213
9,856
1,118,937
479,564
16
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
18
106,186
39,167
Obligations under finance leases
19
170,898
196,714
Trade creditors
682,896
958,016
Corporation tax
295,326
124,957
Other taxation and social security
344,019
171,208
Deferred income
22
1,611,554
1,479,428
Other creditors
54,346
211,019
Accruals
464,747
23,509
3,729,972
3,204,018
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 25 -
17
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
18
19,000
57,000
Obligations under finance leases
19
275,117
355,071
294,117
412,071
18
Loans and overdrafts
2025
2024
£
£
Bank loans
125,186
96,167
Payable within one year
106,186
39,167
Payable after one year
19,000
57,000
19
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
170,898
196,714
After more than one year
275,117
355,071
446,015
551,785
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
170,898
196,714
In two to five years
275,117
355,071
446,015
551,785
20
Secured debts

Included within bank loans is a CBILs loan of £57,000 (2024 - £95,000) which is secured by way of a fixed charge on all properties present and future, goodwill and uncalled capital and equipment, and a floating charge on the undertaking and all other property and assets of the Company.

Amounts due under finance leases and hire purchase contracts coming to a total of £446,015 (2024 - £551,785) are secured against the assets which they relate to.

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 26 -
21
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
131,600
132,500
2025
Movements in the year:
£
Liability at 1 September 2024
132,500
Credit to profit or loss
(900)
Liability at 31 August 2025
131,600
22
Deferred income
2025
2024
£
£
Other deferred income
1,611,554
1,479,428
23
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
62,293
71,787

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions totalling £Nil (2024: £293) were payable to the fund at the balance sheet date.

24
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
8,500
8,500
85
85
25
Capital redemption reserve

A t the balance sheet date, the balance on the capital redemption reserve was £15 (2024: £15).

The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 27 -
26
Profit and loss reserves

The profit and loss account reserves relate to accumulated results of the business, less dividends declared and adjusted for transfers to/from other reserves.

27
Financial commitments, guarantees and contingent liabilities

The company has a fixed and floating charge dated 2 6 January 20 21, in favour of Barclays Security Trustee Ltd.

Included in loans due within one year is an insurance loan secured against the insurance policy itself.

28
Operating lease commitments
As lessee

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

2025
2024
£
£
Within 1 year
505,868
228,104
Years 2-5
2,246,266
901,820
After 5 years
2,572,143
504,600
5,324,277
1,634,524
29
Related party transactions

During the period, the company had balances outstanding f rom entities with common directors/owners.

At the balance sheet date there was an amount of £1,426 (2024: £1,426) due from related parties.

30
Directors' transactions

The advance is unsecured, repayable on demand and interest is charged at HMRC's official rate of interest per annum, where the balance exceeds £10,000.

Advances
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr J E Allan - Directors loan account
3.75
-
7,174
(6,196)
978
Mr T E G Humphrey - Directors loan account
3.75
3,003
4,099
(7,814)
(712)
Mr P J Burrows - Directors loan account
3.75
3,900
-
(3,900)
-
6,903
11,273
(17,910)
266
The Oxford Health Company Ltd
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 28 -
31
Ultimate controlling party

The parent company is TOHC Holdings Limited which owns 100% of the ordinary share capital. TOHC Holdings Limited is incorporated in England and the registered office is The Glades, Festival Way, Festival Park, Stoke-On-Trent, Staffordshire, ST1 5SQ.

The ultimate controlling parties are Mr J Allan and Mr T Humphrey.

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