Company registration number 01018690 (England and Wales)
INTAKE DEVELOPMENTS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
INTAKE DEVELOPMENTS LIMITED
COMPANY INFORMATION
Directors
Mr R S D Campbell
Mr R M Campbell
Mrs S Campbell
(Appointed 10 March 2025)
Mrs H Campbell
(Appointed 10 March 2025)
Company number
01018690
Registered office
Unit 43
Claycliffe Business Park
Cannon Way Barugh Green
Barnsley
South Yorkshire
S75 1JU
Auditor
GBAC Limited
Old Linen Court
83-85 Shambles Street
Barnsley
South Yorkshire
S70 2SB
Accountants
GBAC Limited
Old Linen Court
83-85 Shambles Street
Barnsley
South Yorkshire
S70 2SB
Bankers
Santander UK plc
Bridle Road
Bootle
Merseyside
L30 4GB
INTAKE DEVELOPMENTS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Income statement
7
Statement of comprehensive income
8
Statement of financial position
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 25
INTAKE DEVELOPMENTS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Review of the business

The management consider the results to be good, and constantly consider ways of increasing profitability and net worth of the business. The trading performance of each self service petrol filling station site is regularly monitored to ensure that performance meets management expectations.

The company maintained stable fuel gross profit margins, experiencing a slight decline from 11.33% in 2024 to 11.21% in 2025.

2025 2024 2023 2022

Fuel Sales 32,200,942 32,329,129 34,327,460 38,173,086

COS (Fuel) (28,591,839) (28,665,764) (30,256,885) (34,358,441)

Gross Profit 3,609,103 3,663,365 4,070,575 3,814,645

Gross Profit % 11.21 11.33 11.85 9.99

The future developments of the business are aligned with the management policy of closely monitoring and reacting to each sites performance, together with assessing new opportunities to acquire sites, but it is also dependant upon the volatility of the market place and changing technologies.

Trading results since the balance sheet are in line with management's expectation.

Principal risks and uncertainties

The company's financial instruments comprise bank balances, investments in bonds, trade creditors, trade debtors and loans to the company. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations. The company's approach to managing risks is shown below.

The principal risk is the economy and the state of the fuel industry.

The company keeps it's exposure to price risk to a minimum by agreement with the fuel supplier and tracking the fuel market on a regular basis. In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and investing surplus funds into bonds and higher interest bank accounts.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

On behalf of the board

Mr R M Campbell
Director
18 July 2026
INTAKE DEVELOPMENTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

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

Principal activities

The principal activity of the company continued to be that of operators of self-service petrol filling stations.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £1,280,000. The directors do not recommend payment of a further dividend.

Directors

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

Mr R S D Campbell
Mr R M Campbell
Mrs S Campbell
(Appointed 10 March 2025)
Mrs H Campbell
(Appointed 10 March 2025)
Auditor

The auditor, GBAC Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

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 R M Campbell
Director
18 July 2026
INTAKE DEVELOPMENTS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

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.

INTAKE DEVELOPMENTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF INTAKE DEVELOPMENTS LIMITED
- 4 -
Opinion

We have audited the financial statements of Intake Developments Limited (the 'company') for the year ended 31 December 2025 which comprise the income statement, the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the 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 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

INTAKE DEVELOPMENTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INTAKE DEVELOPMENTS LIMITED
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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

- adequate accounting records have not been kept, 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 directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the 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.

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 auditors' 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.

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we determined the principle laws and regulations applicable to the company through discussions with management and directors, and from our knowledge of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation of the company including, Companies Act 2006, local tax laws and regulations, employment and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management;

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining and understanding of how fraud might occur, by;

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

INTAKE DEVELOPMENTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INTAKE DEVELOPMENTS LIMITED
- 6 -

To address the risks of fraud through management bias and override controls, we;

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims.

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. The 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. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealement, forgery, collusion, ommission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the 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.

Victoria Jane Davies
For and on behalf of GBAC Limited
21 July 2026
Statutory Auditor
Old Linen Court
83-85 Shambles Street
Barnsley
South Yorkshire
S70 2SB
INTAKE DEVELOPMENTS LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Revenue
3
32,200,942
32,329,129
Cost of sales
(28,591,839)
(28,665,764)
Gross profit
3,609,103
3,663,365
Administrative expenses
(2,050,373)
(1,996,497)
Other operating income
640,822
673,275
Operating profit
4
2,199,552
2,340,143
Investment income
8
285,450
124,349
Finance costs
9
-
0
(6,446)
Profit before taxation
2,485,002
2,458,046
Tax on profit
10
(591,825)
(644,313)
Profit for the financial year
1,893,177
1,813,733

The income statement has been prepared on the basis that all operations are continuing operations.

INTAKE DEVELOPMENTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
£
£
Profit for the year
1,893,177
1,813,733
Other comprehensive income
-
-
Total comprehensive income for the year
1,893,177
1,813,733
INTAKE DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
13
4,064,749
3,992,397
Investment property
14
614,589
614,589
Investments
15
10,000
-
0
4,689,338
4,606,986
Current assets
Inventories
17
532,159
497,814
Trade and other receivables
18
3,856,522
2,414,894
Investments
19
3,000,000
-
0
Cash and cash equivalents
3,109,515
4,332,010
10,498,196
7,244,718
Current liabilities
20
(4,894,433)
(2,192,761)
Net current assets
5,603,763
5,051,957
Total assets less current liabilities
10,293,101
9,658,943
Provisions for liabilities
Deferred tax liability
21
197,467
176,486
(197,467)
(176,486)
Net assets
10,095,634
9,482,457
Equity
Called up share capital
23
460
460
Capital redemption reserve
2,041
2,041
Retained earnings
10,093,133
9,479,956
Total equity
10,095,634
9,482,457

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 18 July 2026 and are signed on its behalf by:
Mr R M Campbell
Director
Company registration number 01018690 (England and Wales)
INTAKE DEVELOPMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
Share capital
Capital redemption reserve
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 January 2024
460
2,041
7,666,223
7,668,724
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
1,813,733
1,813,733
Balance at 31 December 2024
460
2,041
9,479,956
9,482,457
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
1,893,177
1,893,177
Dividends
11
-
-
(1,280,000)
(1,280,000)
Balance at 31 December 2025
460
2,041
10,093,133
10,095,634
INTAKE DEVELOPMENTS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
3,702,185
1,848,215
Interest paid
-
0
(6,446)
Income taxes paid
(560,527)
(886,758)
Net cash inflow from operating activities
3,141,658
955,011
Investing activities
Purchase of property, plant and equipment
(381,853)
(662,359)
Proceeds from disposal of property, plant and equipment
22,250
18,000
Proceeds from disposal of investment property
-
0
97,785
Purchase of investments
(3,010,000)
-
0
Interest received
285,450
124,349
Net cash used in investing activities
(3,084,153)
(422,225)
Financing activities
Dividends paid
(1,280,000)
-
0
Net cash used in financing activities
(1,280,000)
-
Net (decrease)/increase in cash and cash equivalents
(1,222,495)
532,786
Cash and cash equivalents at beginning of year
4,332,010
3,799,224
Cash and cash equivalents at end of year
3,109,515
4,332,010
INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
1
Accounting policies
Company information

Intake Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 43, Claycliffe Business Park, Cannon Way Barugh Green, Barnsley, South Yorkshire, S75 1JU.

1.1
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 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, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Revenue

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

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

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -

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:

Freehold land and buildings
50 years straight line
Plant and equipment
Between 5 years and 10 years straight line
Motor vehicles
5 years straight line

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

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.7
Non-current investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8
Impairment of non-current 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.

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

1.9
Inventories

Inventories 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 inventories to their present location and condition.

Inventories 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.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -

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

1.10
Cash and cash equivalents

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

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 trade and other receivables 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.

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.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
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 trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are 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.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
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.

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 non-current 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

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The amount charged against profits represents the contributions payable to the scheme in respect of the accounting period.

1.16
Leases

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.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

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.

3
Revenue
2025
2024
£
£
Revenue analysed by class of business
Sale of goods
32,200,942
32,329,129
INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Revenue
(Continued)
- 17 -
2025
2024
£
£
Other revenue
Interest income
285,450
124,349
Rental income arising from investment properties
599,929
630,560
ATM Commission
40,893
42,715
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of property, plant and equipment
290,660
217,221
(Profit)/loss on disposal of property, plant and equipment
(3,409)
18,179
(Profit)/loss on disposal of investment property
-
0
3,705
Operating lease charges
18,313
16,250
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
12,500
12,000
For other services
All other non-audit services
7,095
5,780
6
Employees

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

2025
2024
Number
Number
Administration
7
5

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
673,306
643,094
Social security costs
95,024
82,610
Pension costs
16,836
13,065
785,166
738,769
INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
535,304
520,000
Company pension contributions to defined contribution schemes
1,800
-
537,104
520,000

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
260,000
260,000
8
Investment income
2025
2024
£
£
Interest income
Interest on bank deposits
285,450
124,349
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
285,450
124,349
9
Finance costs
2025
2024
£
£
Other finance costs:
Corporation tax interest
-
0
6,446
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
570,844
560,527
INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
10
Taxation
2025
2024
£
£
Current tax
(Continued)
- 19 -
Deferred tax
Origination and reversal of timing differences
20,981
83,786
Total tax charge
591,825
644,313

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
2,485,002
2,458,046
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2024: 25%)
621,251
614,512
Effects of:
Expenses that are not deductible in determining taxable profit
200
5,426
Income not taxable in determining taxable profit
-
0
4,545
Permanent capital allowances in excess of depreciation
(50,607)
(63,955)
Other non-reversing timing differences
20,981
83,785
Taxation charge in the financial statements
591,825
644,313
11
Dividends
2025
2024
£
£
Final paid
1,280,000
-
0
INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
12
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
50,000
Amortisation and impairment
At 1 January 2025 and 31 December 2025
50,000
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
13
Property, plant and equipment
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2025
4,792,032
1,629,077
270,987
6,692,096
Additions
-
0
280,874
100,979
381,853
Disposals
-
0
(3,594)
(31,226)
(34,820)
At 31 December 2025
4,792,032
1,906,357
340,740
7,039,129
Depreciation and impairment
At 1 January 2025
1,688,788
942,640
68,271
2,699,699
Depreciation charged in the year
95,822
133,364
61,474
290,660
Eliminated in respect of disposals
-
0
(3,489)
(12,490)
(15,979)
At 31 December 2025
1,784,610
1,072,515
117,255
2,974,380
Carrying amount
At 31 December 2025
3,007,422
833,842
223,485
4,064,749
At 31 December 2024
3,103,244
686,437
202,716
3,992,397
14
Investment property
2025
£
Fair value
At 1 January 2025 and 31 December 2025
614,589

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 December 2025 by the Directors. The Directors consider the carrying value of the investment properties accurately represent their value.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
15
Fixed asset investments
2025
2024
£
£
Listed investments
10,000
-
0
Movements in non-current investments
Investments
£
Cost or valuation
At 1 January 2025
-
Additions
10,000
At 31 December 2025
10,000
Carrying amount
At 31 December 2025
10,000
At 31 December 2024
-
16
Financial instruments
2025
2024
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
3,000,000
-
17
Inventories
2025
2024
£
£
Goods for resale
532,159
497,814
18
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
619,561
761,154
Other receivables
3,170,958
1,594,994
Prepayments and accrued income
66,003
58,746
3,856,522
2,414,894

Within other receivables amounts totalling £1,773,350 relate to invoices for the purchase of a new premises which completed after the year end.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
19
Current asset investments
2025
2024
£
£
Unlisted investments
3,000,000
-
0
20
Current liabilities
2025
2024
£
£
Trade payables
3,833,023
1,852,124
Corporation tax
170,844
160,527
Other taxation and social security
43,930
132,777
Other payables
810,000
16,000
Accruals and deferred income
36,636
31,333
4,894,433
2,192,761

Within trade creditors amounts totalling £1,812,342 (2024: £1,786,510) are secured by way of a fixed charge over specific company assets.

21
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
197,467
176,486
2025
Movements in the year:
£
Liability at 1 January 2025
176,486
Charge to profit or loss
20,981
Liability at 31 December 2025
197,467

The deferred tax liability set out above is expected to reverse and relates to accelerated capital allowances that are expected to mature within the same period.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
16,836
13,065

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.

23
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
0
460
-
0
460
Ordinary A shares of £1 each
207
0
207
-
0
Ordinary B shares of £1 each
207
0
207
-
0
Ordinary C shares of £1 each
23
0
23
-
0
Ordinary D shares of £1 each
23
0
23
-
0
460
460
460
460

Ordinary shares have the right to receive dividends as recommended by the directors, hold full voting rights and have the right to participate in winding up.

On 10 March 2025 the company subdivided its 460 £1 ordinary shares into A, B C and D shares of £1 each.

All shares rank pari passu in all respects.

24
Operating lease commitments
2025
2024
£
£
Within one year
31,111
16,250
Between two and five years
23,750
-
0
54,861
16,250
INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
25
Capital commitments

2025
2024
£
£
Acquisition of property, plant and equipment
1,773,350
-

The amounts relate to the acquisition of new premises whereby contracts were signed prior to the year end however the completion of the purchase took place in January 2026. As at 31 December 2025 the invoice for the purchase has been included within other receivables.

INTAKE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
26
Related party transactions
Transactions with related parties

At the balance sheet date the company was owed £1,174,714 (2024:£1,574,714) by two companies in which directors and shareholders have an interest. The loans are repayable upon demand and interest is being charged at rates between 0.25% - 1%.

27
Directors' transactions

Dividends totalling £1,280,000 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

28
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,893,177
1,813,733
Adjustments for:
Taxation charged
591,825
644,313
Finance costs
-
0
6,446
Investment income
(285,450)
(124,349)
(Gain)/loss on disposal of property, plant and equipment
(3,409)
18,179
(Gain)/loss on disposal of investment property
-
0
3,705
Depreciation and impairment of property, plant and equipment
290,660
217,221
Movements in working capital:
(Increase)/decrease in inventories
(34,345)
106,120
Increase in trade and other receivables
(1,441,628)
(518,450)
Increase/(decrease) in trade and other payables
2,691,355
(318,703)
Cash generated from operations
3,702,185
1,848,215
29
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
4,332,010
(1,222,495)
3,109,515
30
Auditor liability limitation agreement

The company has entered into an agreement with its auditor to limit their liability to £1,000,000. A resolution dated 8 June 2026 waived the requirement for board approval.

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