BDP Imports Holdings Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 11619267

BDP Imports Holdings Limited

Financial Statements

30 November 2025

BDP Imports Holdings Limited

Financial Statements

Year ended 30 November 2025

Contents	Page

Strategic report	1

Directors' report	3

Independent auditor's report to the members	5

Consolidated statement of comprehensive income	9

Consolidated statement of financial position	10

Company statement of financial position	11

Consolidated statement of changes in equity	12

Company statement of changes in equity	13

Consolidated statement of cash flows	14

Notes to the financial statements	15

BDP Imports Holdings Limited

Strategic Report

Year ended 30 November 2025

Business Review BDP Imports continued to strengthen its position as a leading supplier of premium outdoor furniture during the year. The company delivered a year of stable and profitable growth. Improved weather conditions, stabilised freight markets and strong demand from both trade and consumer channels contributed to a robust trading performance. The company's investment in digital capability, including enhancements to the B2B ordering portal and the B2C website, supported increased customer engagement and improved conversion rates. Further support was provided to stockists through upgraded merchandising materials and refreshed point of sale displays, reinforcing the Bramblecrest brand in-store. The company benefited from the continued positive impact of its Employee Ownership Trust structure, which has helped preserve its culture, reward employees and support long term stability Turnover increased during the year, supported by strong sell through of core ranges and the successful introduction of new product lines. Profitability improved as freight rates stabilised following the disruption caused by the Suez Canal closure in the prior year. Key Performance Indicators The directors use the following key performance indicators in monitoring the business

	2025	2024
	£	£
Turnover (£'000)	31,334	24,890
Profit before tax & exceptionals (£'000)	5,833	3,452

PRINCIPAL RISKS AND UNCERTANTIES A significant proportion of the company's purchases are made in foreign currencies. This risk is managed through a structured programme of forward currency contracts. Global shipping rates remain volatile. The company mitigates this risk through long standing relationships with multiple freight forwarders and contractual terms that allow emergency surcharges where necessary. Credit exposure is managed through credit insurance on major accounts and robust internal credit control processes. The outdoor furniture market remains competitive. Bramblecrest mitigates this through continuous investment in design, innovation, quality and service, supported by strong brand recognition. Demand for outdoor furniture is influenced by seasonal weather patterns. The company mitigates this through strong pre season ordering programmes and flexible stock planning.

This report was approved by the board of directors on 14 July 2026 and signed on behalf of the board by:

Mr M Bell

Director

Registered office:

Hanger 9

Aston Down Business Park

Aston Down

Frampton Mansell

Stroud

England

GL6 8GA

BDP Imports Holdings Limited

Directors' Report

Year ended 30 November 2025

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

Directors

The directors who served the company during the year were as follows:

Mr M Bell
Mr H Douglas-Pennant

Dividends

The directors do not recommend the payment of a dividend.

Disclosure of information in the strategic report

The company has chosen in accordance with section 414C(11) of the Companies Act 2006(Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' 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 group and the company and the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.

This report was approved by the board of directors on 14 July 2026 and signed on behalf of the board by:

Mr M Bell

Director

Registered office:

Hanger 9

Aston Down Business Park

Aston Down

Frampton Mansell

Stroud

England

GL6 8GA

BDP Imports Holdings Limited

Independent Auditor's Report to the Members of BDP Imports Holdings Limited

Year ended 30 November 2025

Opinion

We have audited the financial statements of BDP Imports Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 group's and of the parent company's affairs as at 30 November 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 group 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 group's or the parent 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report 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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company 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' responsibilities statement, 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 group's and the parent 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 group or the parent 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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach was as follows: We obtained an understanding of the legal and regulatory requirements applicable to the company and considered the most significant are the Companies Act 2006 and UK Financial reporting Standards. We obtained an understanding of how the company complies with these regulations by discussions with management. We assessed the risk of material misstatement of the financial statements, including the risk of material missstatement due to fraud and how it might occur, by holding discussions with management. We inquired of management as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and obtaining corroborative evidence as required. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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.

James Harper

(Senior Statutory Auditor)

For and on behalf of

Harper Sheldon Limited

Chartered accountants & statutory auditor

Midway House

Staverton Technology Park

Herrick Way, Staverton

Cheltenham, Glos.

GL51 6TQ

14 July 2026

BDP Imports Holdings Limited

Consolidated Statement of Comprehensive Income

Year ended 30 November 2025

		2025	2024
Note		£	£
Turnover	4	31,334,302	24,889,798

Cost of sales	20,323,716	16,881,379
	-------------	-------------
Gross profit	11,010,586	8,008,419

Administrative expenses		5,391,483	4,753,828
		-------------	------------
Operating profit	5	5,619,103	3,254,591

Other interest receivable and similar income	8	242,598	280,379
Interest payable and similar expenses	9	855	900
		-------------	------------
Profit before taxation		5,860,846	3,534,070

Tax on profit	10	1,483,901	753,234
		------------	------------
Profit for the financial year and total comprehensive income		4,376,945	2,780,836
		------------	------------

All the activities of the group are from continuing operations.

BDP Imports Holdings Limited

Consolidated Statement of Financial Position

30 November 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	11	545,701	528,596

Current assets

Stocks	13	5,166,027	4,618,503
Debtors	14	2,192,807	2,680,359
Cash at bank and in hand		7,764,072	6,988,174
		-------------	-------------
		15,122,906	14,287,036

Creditors: amounts falling due within one year	15	7,574,514	6,651,446
		-------------	-------------
Net current assets		7,548,392	7,635,590
		------------	------------
Total assets less current liabilities		8,094,093	8,164,186

Provisions	16	114,289	61,332
		------------	------------
Net assets		7,979,804	8,102,854
		------------	------------

Capital and reserves

Called up share capital	19	4,106	4,106
Share premium account	20	167,904	167,904
Other reserves, including the fair value reserve	20	( 2,000)	( 2,000)
Profit and loss account	20	7,809,794	7,932,844
		------------	------------
Shareholders funds		7,979,804	8,102,854
		------------	------------

These financial statements were approved by the board of directors and authorised for issue on 14 July 2026 , and are signed on behalf of the board by:

Mr M Bell

Director

Company registration number: 11619267

BDP Imports Holdings Limited

Company Statement of Financial Position

30 November 2025

	2025	2024
Note	£	£

Fixed assets

Investments	12	2,000	2,000

Current assets

Debtors	14	–	38,373
Cash at bank and in hand		94,157	2,044,245
		--------	------------
		94,157	2,082,618

Creditors: amounts falling due within one year	15	7,032	19,797
		--------	------------
Net current assets		87,125	2,062,821
		--------	------------
Total assets less current liabilities		89,125	2,064,821
		--------	------------

Capital and reserves

Called up share capital	19	2,106	2,106
Share premium account	20	167,904	167,904
Profit and loss account	20	( 80,885)	1,894,811
		---------	------------
Shareholders funds		89,125	2,064,821
		---------	------------

The profit for the financial year of the parent company was £ 2,524,300 (2024: £ 2,411,983 ).

These financial statements were approved by the board of directors and authorised for issue on 14 July 2026 , and are signed on behalf of the board by:

Mr M Bell

Director

Company registration number: 11619267

BDP Imports Holdings Limited

Consolidated Statement of Changes in Equity

Year ended 30 November 2025

	Called up share capital	Share premium account	Other reserves, including the fair value reserve	Profit and loss account	Total
	£	£	£	£	£
At 1 December 2023	4,106	167,904	( 2,000)	10,452,002	10,622,012

Profit for the year				2,780,836	2,780,836
	-------	---------	-------	-------------	-------------
Total comprehensive income for the year	–	–	–	2,780,836	2,780,836

User defined investments by and distributions to owners movement 1	–	–	–	(5,299,994)	(5,299,994)
	-------	---------	-------	-------------	-------------
Total investments by and distributions to owners	–	–	–	( 5,299,994)	( 5,299,994)

At 30 November 2024	4,106	167,904	( 2,000)	7,932,844	8,102,854

Profit for the year				4,376,945	4,376,945
	-------	---------	-------	-------------	-------------
Total comprehensive income for the year	–	–	–	4,376,945	4,376,945

User defined investments by and distributions to owners movement 1	–	–	–	(4,499,995)	(4,499,995)
	----	----	----	------------	------------
Total investments by and distributions to owners	–	–	–	( 4,499,995)	( 4,499,995)

	-------	---------	-------	------------	------------
At 30 November 2025	4,106	167,904	( 2,000)	7,809,794	7,979,804
	-------	---------	-------	------------	------------

BDP Imports Holdings Limited

Company Statement of Changes in Equity

Year ended 30 November 2025

	Called up share capital	Share premium account	Profit and loss account	Total
	£	£	£	£
At 1 December 2023	2,106	167,904	4,782,822	4,952,832

Profit for the year			2,411,983	2,411,983
	-------	---------	------------	------------
Total comprehensive income for the year	–	–	2,411,983	2,411,983

User defined investments by and distributions to owners movement 1	–	–	(5,299,994)	(5,299,994)
	-------	---------	------------	------------
Total investments by and distributions to owners	–	–	( 5,299,994)	( 5,299,994)

At 30 November 2024	2,106	167,904	1,894,811	2,064,821

Profit for the year			2,524,300	2,524,300
	-------	---------	------------	------------
Total comprehensive income for the year	–	–	2,524,300	2,524,300

User defined investments by and distributions to owners movement 1	–	–	(4,499,996)	(4,499,996)
	----	----	------------	------------
Total investments by and distributions to owners	–	–	( 4,499,996)	( 4,499,996)

	-------	---------	------------	------------
At 30 November 2025	2,106	167,904	( 80,885)	89,125
	-------	---------	------------	------------

BDP Imports Holdings Limited

Consolidated Statement of Cash Flows

Year ended 30 November 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	4,376,945	2,780,836

Adjustments for:
Depreciation of tangible assets	233,194	246,459
Other interest receivable and similar income	( 242,598)	( 280,379)
Interest payable and similar expenses	855	900
Gains on disposal of tangible assets	( 848)	( 22,098)
Tax on profit	1,483,901	753,234
Accrued expenses/(income)	546,347	( 232,014)

Changes in:
Stocks	( 547,524)	( 2,447,554)
Trade and other debtors	487,552	( 869,186)
Trade and other creditors	258,258	3,413,154
	------------	------------
Cash generated from operations	6,596,082	3,343,352

Interest paid	( 855)	( 900)
Interest received	242,598	280,379
Tax paid	( 1,312,481)	( 649,975)
	------------	------------
Net cash from operating activities	5,525,344	2,972,856
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 256,785)	( 236,499)
Proceeds from sale of tangible assets	7,334	22,097
	------------	------------
Net cash used in investing activities	( 249,451)	( 214,402)
	------------	------------

Cash flows from financing activities

Gifts to Employee Ownership Trust	(4,499,995)	(5,299,994)
	------------	------------
Net cash used in financing activities	( 4,499,995)	( 5,299,994)
	------------	------------

Net increase/(decrease) in cash and cash equivalents	775,898	( 2,541,540)
Cash and cash equivalents at beginning of year	6,988,174	9,529,714
	------------	------------
Cash and cash equivalents at end of year	7,764,072	6,988,174
	------------	------------

BDP Imports Holdings Limited

Notes to the Financial Statements

Year ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hanger 9, Aston Down Business Park, Aston Down, Frampton Mansell, Stroud, GL6 8GA, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of BDP Imports Holdings Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	25% straight line
Plant and machinery	-	25% straight line
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

Investments in joint ventures

Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	31,334,302	24,889,798
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.

5. Operating loss

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	233,195	246,458
Gains on disposal of tangible assets	( 848)	( 22,098)
Impairment of trade debtors	1	1
Foreign exchange differences	( 423,545)	( 377,416)
	---------	---------

6. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	54	52
Management staff	3	3
	----	----
	57	55
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	3,104,862	2,746,031
Social security costs	378,503	283,245
Other pension costs	143,495	160,173
	------------	------------
	3,626,860	3,189,449
	------------	------------

7. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	55,296	53,076
Company contributions to defined contribution pension plans	100,000	120,000
	---------	---------
	155,296	173,076
	---------	---------

8. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	242,598	280,379
	---------	---------

9. Interest payable and similar expenses

	2025	2024
	£	£
Other interest payable and similar charges	855	900
	----	----

10. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	1,434,148	853,858
Adjustments in respect of prior periods	( 3,204)	( 34,252)
	------------	---------
Total current tax	1,430,944	819,606
	------------	---------

Deferred tax:

Origination and reversal of timing differences	52,957	( 66,372)
	------------	---------
Tax on profit	1,483,901	753,234
	------------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	5,860,846	3,534,070
	------------	------------
Profit on ordinary activities by rate of tax	1,465,211	883,517
Adjustment to tax charge in respect of prior periods	( 3,204)	( 34,252)
Effect of capital allowances and depreciation	12,134	26,431
Research & development	(43,197)	(56,090)
Deferred tax	52,957	(66,372)
	------------	------------
Tax on profit	1,483,901	753,234
	------------	------------

11. Tangible assets

Group	Short leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 December 2024	772,448	311,853	223,877	303,631	1,611,809
Additions	186,415	7,110	38,365	24,895	256,785
Disposals	–	–	–	( 86,371)	( 86,371)
	---------	---------	---------	---------	------------
At 30 November 2025	958,863	318,963	262,242	242,155	1,782,223
	---------	---------	---------	---------	------------
Depreciation
At 1 December 2024	583,043	260,117	126,454	113,599	1,083,213
Charge for the year	108,498	40,740	20,333	63,623	233,194
Disposals	–	–	–	( 79,885)	( 79,885)
	---------	---------	---------	---------	------------
At 30 November 2025	691,541	300,857	146,787	97,337	1,236,522
	---------	---------	---------	---------	------------
Carrying amount
At 30 November 2025	267,322	18,106	115,455	144,818	545,701
	---------	---------	---------	---------	------------
At 30 November 2024	189,405	51,736	97,423	190,032	528,596
	---------	---------	---------	---------	------------

The company has no tangible assets.

12. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 December 2024 and 30 November 2025	2,000
	-------
Impairment
At 1 December 2024 and 30 November 2025	–
	-------

Carrying amount
At 1 December 2024 and 30 November 2025	2,000
	-------
At 30 November 2024	2,000
	-------

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
BDP Imports Limited	Ordinary	100

13. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Finished goods and goods for resale	5,166,027	4,618,503	–	–
	------------	------------	----	----

14. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	1,726,860	2,203,987	–	–
Prepayments and accrued income	330,059	425,499	–	–
Other debtors	135,888	50,873	–	38,373
	------------	------------	----	--------
	2,192,807	2,680,359	–	38,373
	------------	------------	----	--------

15. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	3,190,110	3,397,973	–	–
Accruals and deferred income	773,071	226,724	–	–
Corporation tax	622,320	503,857	7,032	19,797
Social security and other taxes	65,683	137,506	–	–
Other creditors	2,923,330	2,385,386	–	–
	------------	------------	-------	--------
	7,574,514	6,651,446	7,032	19,797
	------------	------------	-------	--------

16. Provisions

Group	Deferred tax (note 17)
	£
At 1 December 2024	61,332
Additions	52,957
	---------
At 30 November 2025	114,289
	---------

The company does not have any provisions.

17. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 16)	114,289	61,332	–	–
	---------	--------	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	114,289	61,332	–	–
	---------	--------	----	----

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 43,495 (2024: £ 40,173 ).

19. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares shares of £ 1 each	998	998	998	998
Ordinary B shares shares of £ 1 each	998	998	998	998
Ordinary C shares shares of £ 1 each	2	2	2	2
Ordinary D shares shares of £ 1 each	2	2	2	2
Ordinary shares shares of £0.001 each	2,106,000	2,106	2,106,000	2,106
	------------	-------	------------	-------
	2,108,000	4,106	2,108,000	4,106
	------------	-------	------------	-------

20. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses. Merger reserve - This reserve records the difference between the nominal value of shares issued and the nominal value of shares received at the date of the group restructure.

21. Analysis of changes in net debt

	At 1 Dec 2024	Cash flows	At 30 Nov 2025
	£	£	£
Cash at bank and in hand	6,988,174	775,898	7,764,072
	------------	---------	------------