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REGISTERED NUMBER: 06606646 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 March 2026 |

| for |

| R and D (Leather) Ltd |

R and D (Leather) Ltd (Registered number: 06606646)

Contents of the Financial Statements

for the Year Ended 31 March 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

R and D (Leather) Ltd

Company Information

for the Year Ended 31 March 2026

| DIRECTOR: | R D Malone

| REGISTERED OFFICE: | The Yard

| 19 Brooks Road

| STREET

| Somerset

| BA16 0PN

| REGISTERED NUMBER: | 06606646 (England and Wales)

| ACCOUNTANTS: | A C Mole LLP

| Stafford House

| Blackbrook Park Avenue

| TAUNTON

| Somerset

| TA1 2PX

R and D (Leather) Ltd (Registered number: 06606646)

Balance Sheet

31 March 2026

| 2026 | 2025 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 171,618 |  | 183,618 |  |

Investment property | 6 | 140,000 |  | 140,000 |  |

311,618 |  | 323,618 |  |

CURRENT ASSETS

Stocks | 45,469 |  | 38,500 |  |

Debtors | 7 | 543,105 |  | 954,809 |  |

Cash at bank | 737,373 |  | 716,922 |  |

1,325,947 |  | 1,710,231 |  |

CREDITORS

Amounts falling due within one year | 8 | 339,160 |  | 756,575 |  |

NET CURRENT ASSETS | 986,787 |  | 953,656 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,298,405 |  | 1,277,274 |  |

CREDITORS

Amounts falling due after more than one year | 9 | 56,210 |  | 79,884 |  |

NET ASSETS | 1,242,195 |  | 1,197,390 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Retained earnings | 1,241,195 |  | 1,196,390 |  |

SHAREHOLDERS' FUNDS | 1,242,195 |  | 1,197,390 |  |

R and D (Leather) Ltd (Registered number: 06606646)

Balance Sheet - continued

31 March 2026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 August 2026 and were signed by:

R D Malone - Director

R and D (Leather) Ltd (Registered number: 06606646)

Notes to the Financial Statements

for the Year Ended 31 March 2026

1. | STATUTORY INFORMATION

| R and D (Leather) Ltd 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 25% on reducing balance

| The Freehold property from which the company operates has been valued at cost and is not depreciated as it is considered that the residual value of the property is in excess of its cost and therefore, in accordance with FRS102, there is no depreciable amount. Annual impairment reviews are undertaken in respect of this property to ensure its carrying value can be supported.

| Investment property

| Investment property is shown at fair value, being the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss in the year of valuation.

| Stocks

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

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

R and D (Leather) Ltd (Registered number: 06606646)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2025 - 12 ) .

4. | INTANGIBLE FIXED ASSETS

| Other |

| intangible |

| Goodwill |  | assets |  | Totals

£ | £ | £ |

| COST

| At 1 April 2025

| and 31 March 2026 | 2,000 |  | 1,000 |  | 3,000 |  |

| AMORTISATION

| At 1 April 2025

| and 31 March 2026 | 2,000 |  | 1,000 |  | 3,000 |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  | - |  | - |  |

| At 31 March 2025 | - |  | - |  | - |  |

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 April 2025 | 126,538 |  | 154,987 |  | 281,525 |  |

| Additions | - |  | 20,941 |  | 20,941 |  |

| Disposals | - |  | (46,280 | ) | (46,280 | ) |

| At 31 March 2026 | 126,538 |  | 129,648 |  | 256,186 |  |

| DEPRECIATION

| At 1 April 2025 | - |  | 97,907 |  | 97,907 |  |

| Charge for year | - |  | 17,746 |  | 17,746 |  |

| Eliminated on disposal | - |  | (31,085 | ) | (31,085 | ) |

| At 31 March 2026 | - |  | 84,568 |  | 84,568 |  |

| NET BOOK VALUE

| At 31 March 2026 | 126,538 |  | 45,080 |  | 171,618 |  |

| At 31 March 2025 | 126,538 |  | 57,080 |  | 183,618 |  |

| At the year end the net book value of assets held on hire purchase was NIL (2025: £14,584).

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2025

| and 31 March 2026 | 140,000 |  |

| NET BOOK VALUE

| At 31 March 2026 | 140,000 |  |

| At 31 March 2025 | 140,000 |  |

R and D (Leather) Ltd (Registered number: 06606646)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

6. | INVESTMENT PROPERTY - continued

| The investment property was valued by an independent professional valuer during the prior year. The director believes the fair value of the property at the balance sheet date is in-line with this valuation.

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

£ | £ |

| Trade debtors | 355,296 |  | 692,382 |  |

| Other debtors | 35,616 |  | 14,655 |  |

| Payments on account | 106,400 |  | 176,186 |  |

| Director's current account | 13,419 |  | 30,497 |  |

| Prepayments | 32,374 |  | 41,089 |  |

543,105 |  | 954,809 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

£ | £ |

| Bank loans and overdrafts | 23,302 |  | 244,573 |  |

| Hire purchase contracts | - |  | 5,415 |  |

| Trade creditors | 170,420 |  | 171,929 |  |

| Tax | 17,751 |  | 62,033 |  |

| Social security and other taxes | 18,862 |  | 17,914 |  |

| VAT | 100,094 |  | 244,361 |  |

| Accrued expenses | 8,731 |  | 10,350 |  |

339,160 |  | 756,575 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2026 | 2025 |

£ | £ |

| Bank loans - 2-5 years | 23,200 |  | 40,702 |  |

| Bank loans - more than 5 years by instalments | 33,010 |  | 39,182 |  |

56,210 |  | 79,884 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans - more than 5 years by instalments | 33,010 |  | 39,182 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2026 | 2025 |

£ | £ |

| Bank loan | 79,512 |  | 324,457 |  |

| Hire purchase | - |  | 5,415 |  |

79,512 |  | 329,872 |  |

R and D (Leather) Ltd (Registered number: 06606646)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

2026 | 2025 |

£ | £ |

| R D Malone

| Balance outstanding at start of year | 30,497 |  | 11,100 |  |

| Amounts advanced | 108,645 |  | 125,965 |  |

| Amounts repaid | (125,723 | ) | (106,568 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 13,419 |  | 30,497 |  |

| At the year end, a director had an overdrawn balance of £13,419 (2025: £30,497). This amount was fully repaid after the year end.