REGISTERED NUMBER: 02581687 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2025

for

Park Communications Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

D Geers

P Geers

M Cummins

REGISTERED OFFICE:

Alpine Way

London

E6 6LA

REGISTERED NUMBER:

02581687 (England and Wales)

AUDITORS:

Try Lunn & Co

Chartered Accountants

and Statutory Auditors

Roland House

Princes Dock Street

HULL HU1 2LD

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

The principal activity of the Company during the year continued to be the provision of high-quality printing and print finishing services, together with mailing and fulfilment.

The majority of projects are produced from artwork supplied by customers. The Company maintains in-house pre-press and typesetting capability to support specific sectors, including auction catalogues and specialist publications, but its core focus remains production-led print manufacturing.

The Company operates across several key market segments, including Annual Reports, independent magazine publishing and general commercial print.

The Company differentiates itself through the quality of its production, strong environmental credentials, and a high level of service delivered throughout the manufacturing and fulfilment process.

As part of the Graphius Group, the Company benefits from strategic oversight and leadership support, and access to a wider range of specialist production capabilities across the Group's European sites. This enables the sales team to offer customers additional products and services beyond Park's standalone manufacturing scope.

REVIEW OF BUSINESS

Strategy and Strategic Priorities

Sales growth remains a core strategic priority.

The acquisition of Geoff Neal has contributed to increased sales activity and strengthened operational capability through the integration of experienced personnel.

Investment priorities include further automation through robotic solutions for manual packing and palletising tasks, investment in thread sewing capability, and continued development of the Company's MIS and Prinect systems towards a fully integrated JDF workflow

Market Environment and Competitive Position

Trading conditions during 2025 remained challenging.

The Company continues to compete strongly on turnaround times, production quality and sustainability credentials, positioning itself as one of the leading operators within its chosen markets.

Outlook

Management's expectations for 2026 are based on the assumption that trading conditions within core markets remain broadly consistent, that key customer relationships are retained, and that integration benefits continue to be realised.

The Directors remains confident in the Company's positioning, the Directors expect further operational improvements through automation, workflow enhancement and strengthened purchasing strategy to support margin recovery and long-term resilience.

PRINCIPAL RISKS AND UNCERTAINTIES

There are certain risks which could directly and materially impact the Company's results compared with expectations. A summary of key risks is set out below. This is not an exhaustive list of the factors that could adversely impact Company profitability.

The Company faces several principal risks that could materially impact performance:

Market and Economic Risk - Customer confidence and reduced marketing budgets remain key sensitivities.

Competitive Pricing Pressure - Price competition has intensified in a contracting marketplace, particularly during seasonal low-demand periods.

Input Cost Inflation - Material price increases and labour cost pressures remain significant risks.

Labour and Skills Risk - Labour shortages and wage inflation require ongoing workforce planning and cost management.

Acquisition Integration Risk - Integration risk is monitored through regular Directors review of operational and financial performance.

Management actively reviews mitigating controls including customer complaints, internal non-conformance reporting, health and safety performance and detailed financial reporting.

FINANCIAL KEY PERFORMANCE INDICATORS

The Directors monitors performance through monthly financial reviews. Key financial indicators include the measurement of turnover, operating profit and pre-tax profit

The company delivered:

- Turnover from continuing operations of £19,086,692 (2024: £15,109,557)

- An operating profit of £145,369 (2024: £187,442)

- A pre-tax profit of £53,785 (2024: £156,795)

At the year-end, there was a cash balance of £114,376 (2024: £91,026), loan finance of £194,767 (2024: £347,344) and shareholders funds of £6,280,152 (2024: £6,205,820)

SUSTAINABILITY AND RESPONSIBLE BUSINESS

Sustainability remains a core differentiator for the Company.

Park Communications is ISO 14001 certified and operates in alignment with EMAS standards. The Company is a certified climate neutral business through ClimatePartner and offsets production-related carbon emissions through verified projects. The facility is powered by 100% renewable energy, significantly reducing the Company's carbon footprint at source.

The Company holds FSC certification (License Code: FSC-C001785) and ensures that the majority of paper is FSC or PEFC certified. An approved supplier list is reviewed bi-annually to maintain responsible sourcing standards.

Through participation in the BPIF Climate Change Agreement, the Company implements targeted energy reduction measures in line with UK government schemes. Approximately 99% of printing waste is recycled, and sustainable inks are prioritised.

Sustainability credentials increasingly influence customer tenders and supplier selection decisions, particularly among clients seeking to strengthen their own ESG reporting.

Management continues to monitor emerging ESG developments including UK Sustainability Reporting Standards, Climate Change Agreement requirements, EU Deforestation Regulation developments and broader carbon transparency expectations to ensure continued compliance and competitive positioning.

ON BEHALF OF THE BOARD:

P Geers - Director

8 July 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

D Geers

P Geers

Other changes in directors holding office are as follows:

Ms A G Branch - resigned 30 June 2025

H Mason - resigned 30 June 2025

M Cummins - appointed 1 July 2025

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Try Lunn & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P Geers - Director

8 July 2026

Opinion

We have audited the financial statements of Park Communications Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 31 December 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 page five, 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:

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

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statements disclosures to underlying supporting documentation, enquiries with management. There are inherent limitations in the audit procedures described above 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. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

Andrew Ewart FCA FCCA (Senior Statutory Auditor)

for and on behalf of Try Lunn & Co

Chartered Accountants

and Statutory Auditors

Roland House

Princes Dock Street

HULL HU1 2LD

8 July 2026

TURNOVER

3

19,086,692

15,109,557

Cost of sales

15,653,486

12,374,455

GROSS PROFIT

3,433,206

2,735,102

Administrative expenses

3,377,837

2,547,660

55,369

187,442

Other operating income

4

90,000

-

OPERATING PROFIT

6

145,369

187,442

Interest payable and similar expenses

9

91,584

30,647

PROFIT BEFORE TAXATION

53,785

156,795

Tax on profit

10

(20,547

)

(109,809

)

PROFIT FOR THE FINANCIAL YEAR

74,332

266,604

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

74,332

266,604

FIXED ASSETS

Tangible assets

12

952,403

885,630

Investments

13

1,379,545

987,000

2,331,948

1,872,630

CURRENT ASSETS

Stocks

14

486,765

573,304

Debtors

15

9,522,992

7,047,940

Cash at bank and in hand

114,376

91,026

10,124,133

7,712,270

CREDITORS

Amounts falling due within one year

16

5,953,906

2,979,868

NET CURRENT ASSETS

4,170,227

4,732,402

TOTAL ASSETS LESS CURRENT LIABILITIES

6,502,175

6,605,032

CREDITORS

Amounts falling due after more than one year

17

(38,125

)

(194,767

)

PROVISIONS FOR LIABILITIES

20

(183,898

)

(204,445

)

NET ASSETS

6,280,152

6,205,820

CAPITAL AND RESERVES

Called up share capital

21

600,000

600,000

Retained earnings

22

5,680,152

5,605,820

SHAREHOLDERS' FUNDS

6,280,152

6,205,820

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2026 and were signed on its behalf by:

P Geers - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

600,000

5,339,216

5,939,216

Changes in equity

Total comprehensive income

-

266,604

266,604

Balance at 31 December 2024

600,000

5,605,820

6,205,820

Changes in equity

Total comprehensive income

-

74,332

74,332

Balance at 31 December 2025

600,000

5,680,152

6,280,152

1.	STATUTORY INFORMATION

Park Communications 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.

The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.

Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of Park Group Holdings Limited as at 31 December 2025 and these financial statements may be obtained from Companies House.

Preparation of consolidated financial statements

The financial statements contain information about Park Communications Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Park Group Holdings Limited, .

Significant judgements and estimates

Depreciation policies are determined based on the useful economic life of the assets to which they relate which are based on historical experience.

Work in progress consists of labour, material, outwork and handling costs. The year end work in progress figure represents the time and materials consumed prior to the year end that are expected to be fully recovered on completion of the work. Where possible actual costs have been used at arriving at the work in progress balance.

Trade debtors are provided against on a specific basis to the extent that they are considered

irrecoverable. No general provisions are made against the trade debtor balance.

No other significant judgements have been made in preparing these financial statements.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:.

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually

associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction, and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured

reliably, and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is charged so as to allocate the cost of assets less their residual value over the estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property - 2%-20% Straight line

Plant and machinery - 8%-33% Straight line

Fixtures and fittings - 25%-33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted

prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying

amount is reduced to its selling price less costs to complete and sell. The impairment loss is

recognised immediately in profit or loss.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when

there is an 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.

Taxation

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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the

lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a

straight-line basis over the lease term, unless another systematic basis is representative of the time

pattern of the lessee's benefit from the use of the leased asset.

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed

assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their

useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases

are those where substantially all of the benefits and risks of ownership are assumed by the company.

Obligations under such agreements are included in creditors net of the finance charge allocated to

future periods. The finance element of the rental payment is charged to profit or loss so as to produce

a constant periodic rate of charge on the net obligation outstanding in each period.

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.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are

recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

17,498,677

14,522,865

Rest of Europe

597,747

344,668

Rest of the world

990,268

242,024

19,086,692

15,109,557

4.	OTHER OPERATING INCOME

2025

2024

£

£

Management charge

90,000

-

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

5,176,584

4,379,313

Social security costs

549,514

405,673

Other pension costs

156,938

104,835

5,883,036

4,889,821

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

2025

2024

Production

77

71

Administration

12

12

Distribution

13

10

102

93

2025

2024

£

£

Directors' remuneration

167,875

206,562

6.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

9,017

7,014

Other operating leases

10,985

28,611

Depreciation - owned assets

276,346

368,838

Profit on disposal of fixed assets

(9,271

)

(159,970

)

7.	AUDITORS' REMUNERATION

2025

2024

£

£

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

21,960

24,630

8.	EXCEPTIONAL ITEMS

2025

2024

£

£

Exceptional items

(43,959

)

(57,133

)

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

80,136

13,580

Intercompany Interest

666

-

Hire purchase

10,782

17,067

91,584

30,647

10.

TAXATION

Analysis of the tax credit

The tax credit on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

-

(30

)

Deferred tax

(20,547

)

(109,779

)

Tax on profit

(20,547

)

(109,809

)

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax credit included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

53,785

156,795

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

13,446

39,199

Effects of:

Depreciation in excess of capital allowances

24,382

118,920

Utilisation of tax losses

(45,912

)

(165,960

)

Adjustments to tax charge in respect of previous periods

-

(30

)

Permanent disallowable expenses

9,619

15,986

Short term timing difference

(22,082

)

(117,924

)

Total tax credit

(20,547

)

(109,809

)

11.	PRIOR YEAR ADJUSTMENT

The following adjustment has been made to the financial statement lines in the comparatives:

Debit

Credit

£

£

Cost of sales

1,410,501

Sales

1,410,501

The adjustment relates to postage sales, historically shown net of postage costs. This adjustment to gross up the sales is a result of a change in accounting policy in 2025.

The adjustment has no impact on profit.

12.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2025

2,192,948

2,142,289

199,277

4,534,514

Additions

-

343,246

8,977

352,223

Disposals

-

-

(21,850

)

(21,850

)

At 31 December 2025

2,192,948

2,485,535

186,404

4,864,887

DEPRECIATION

At 1 January 2025

2,172,164

1,371,205

105,515

3,648,884

Charge for year

7,335

228,975

40,036

276,346

Eliminated on disposal

-

-

(12,746

)

(12,746

)

At 31 December 2025

2,179,499

1,600,180

132,805

3,912,484

NET BOOK VALUE

At 31 December 2025

13,449

885,355

53,599

952,403

At 31 December 2024

20,784

771,084

93,762

885,630

The net book value of assets held under finance leases or hire purchase contracts included above are £440,000 (2024: £560,000)

13.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2025

987,000

Additions

392,545

At 31 December 2025

1,379,545

NET BOOK VALUE

At 31 December 2025

1,379,545

At 31 December 2024

987,000