REGISTERED NUMBER: 00964668 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

WEENER PLASTICS NORWICH LTD.

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Statement of Directors' Responsibilities

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Mr P McGurk

Mr A Gualdi

Mr H A Mennink

SECRETARY:

Mr P McGurk

REGISTERED OFFICE:

Stanford Tuck Road

North Walsham

Norfolk

NR28 0TY

REGISTERED NUMBER:

00964668 (England and Wales)

AUDITORS:

Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

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

REVIEW OF BUSINESS

The principal activity of the company during the year was the production of plastic goods by injection moulding.

The company’s key financial indicators during the year were as follows:-

2025

2024

£

£

Turnover

23,521,890

22,585,190

Operating profit/(loss)

1,750,006

1,055,960

Profit/(Loss) after tax

1,601,908

767,728

Shareholders' funds

5,278,530

3,676,622

Turnover has increased by £936,700 during the year. This is the result of business growth within a key client. The turnover growth, coupled with a decrease in resin costs and energy costs in 2025, has been reflected in the £1,846,644 improvement in gross profit compared to 2024.

This has resulted in an increase of £834,180 in net profit for the year, despite an increase in administrative costs of £621,266 which is predominantly due an increase in wage costs, following the increase in employer's national insurance costs.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company are broadly grouped as - competitive, legislative and financial instrument risk.

Competitive risks

The company operates in an open market but has not identified any significant changes to its present environment that would necessitate any revisions to its established business strategies.

Legislative risks

The company is not aware of any existing or impending legislation that may have an impact on future trading operations.

Financial instrument risks

The company has established a risk and financial management framework whose primary objectives are to protect the company from events that hinder the achievement of performance objectives. The objectives aim to limit undue counterparty exposure, ensure sufficient working capital exists and monitor the management of risk at a business unit level.

ON BEHALF OF THE BOARD:

Mr P McGurk - Director

18 August 2026

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

DIVIDENDS

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

FUTURE DEVELOPMENTS

Strategic direction will be maintained with a focus on continuous improvement in operational excellence, sustainability and corporate social responsibility, and the proposed investment plan to support this strategy will focus on increased efficiency of plant and equipment.

The Weener Plastics Group continues to target new business development to sustain growth and strengthen the portfolio in the UK. Turnover is expected to rise year on year by 7%.

DIRECTORS

Mr P McGurk has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

Mr A Gualdi - appointed 12 September 2025

Mr H A Mennink - appointed 12 September 2025

FINANCIAL INSTRUMENTS

Credit risk is the risk that one party to a financial instrument will cause a financial loss for that other party by failing to discharge an obligation. Company policies are aimed at minimising such losses, and require that deferred terms are only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures.

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The company aims to mitigate liquidity risk by managing cash generation by its operations, applying cash collection targets and ensuring that sufficient funds are available to meet amounts due.

GOING CONCERN

The financial statements have been prepared on a going concern basis which assumes that the company will continue to have sufficient funds to operate and to meet its liabilities and obligations for the foreseeable future. At the year end the company had net current assets of £4,977,088 (2024 net current liabilities £2,459,129)

The company continues to receive support from Weener Plastics Holding BV (its ultimate parent undertaking) and they will continue to provide financial support to the company to assist it in meeting its liabilities as and when they become due, but only to the extent that money is not otherwise available to the company to meet such liabilities. Therefore the directors have prepared the financial statements on a going concern basis.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr P McGurk - Director

18 August 2026

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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

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

Opinion

We have audited the financial statements of Weener Plastics Norwich Ltd. (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We consider our approach to be reasonable for this entity.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement 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 company's internal control.

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

and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based

on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that

may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a

material uncertainty exists, we are required to draw attention in our Report of the Auditors 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 Report of the Auditors.

However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the

disclosures, and whether the financial statements represent the underlying transactions and events in a

manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope

and timing of the audit and significant

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

A M Orves (Senior Statutory Auditor)

for and on behalf of Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

18 August 2026

TURNOVER

23,521,890

22,585,190

Cost of sales

17,357,723

18,267,667

GROSS PROFIT

6,164,167

4,317,523

Distribution costs

423,567

390,841

Administrative expenses

3,990,594

2,870,722

4,414,161

3,261,563

OPERATING PROFIT

1,750,006

1,055,960

Interest payable and similar expenses

4

148,098

288,232

PROFIT BEFORE TAXATION

5

1,601,908

767,728

Tax on profit

7

-

-

PROFIT FOR THE FINANCIAL YEAR

1,601,908

767,728

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,601,908

767,728

FIXED ASSETS

Owned

Tangible assets

8

5,215,881

6,223,032

Right-of-use

Tangible assets

8, 14

-

-

5,215,881

6,223,032

CURRENT ASSETS

Stocks

9

1,554,346

1,634,397

Debtors

10

4,058,665

3,339,501

Cash at bank

3,778,170

-

9,391,181

4,973,898

CREDITORS

Amounts falling due within one year

11

4,414,093

7,433,027

NET CURRENT ASSETS/(LIABILITIES)

4,977,088

(2,459,129

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,192,969

3,763,903

CREDITORS

Amounts falling due after more than one year

12

4,914,439

87,281

NET ASSETS

5,278,530

3,676,622

CAPITAL AND RESERVES

Called up share capital

15

5,851

5,851

Share premium

16

74,851

74,851

Revaluation reserve

16

107,420

133,267

Other reserves

16

14,478,126

14,478,126

Retained earnings

16

(9,387,718

)

(11,015,473

)

SHAREHOLDERS' FUNDS

5,278,530

3,676,622

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2026 and were signed on its behalf by:

Mr P McGurk - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 January 2024

5,850

(11,809,048

)

-

Changes in equity

Issue of share capital

1

-

74,851

Total comprehensive income

-

767,728

-

Revaluation transfer

-

25,847

-

Balance at 31 December 2024

5,851

(11,015,473

)

74,851

Changes in equity

Total comprehensive income

-

1,601,908

-

Revaluation transfer

-

25,847

-

Balance at 31 December 2025

5,851

(9,387,718

)

74,851

Revaluation

Other

Total

reserve

reserves

equity

£

£

£

Balance at 1 January 2024

159,114

14,478,126

2,834,042

Changes in equity

Issue of share capital

-

-

74,852

Total comprehensive income

-

-

767,728

Revaluation transfer

(25,847

)

-

-

Balance at 31 December 2024

133,267

14,478,126

3,676,622

Changes in equity

Total comprehensive income

-

-

1,601,908

Revaluation transfer

(25,847

)

-

-

Balance at 31 December 2025

107,420

14,478,126

5,278,530

1.	AUTHORISATION OF FINANCIAL STATEMENTS AND STATEMENT OF COMPLIANCE

Weener Plastics Norwich Ltd is a private company limited by shares and incorporated in England, United Kingdom . The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are set out in the strategic report on page 2.

The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;

•

the requirements of IFRS 7 Financial Instruments: Disclosures;

•

the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

•

the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases;

the requirements of paragraph 58 of IFRS 16;

•

the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;

•

the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:

-

paragraphs 53(a), (h) and (j) of IFRS 16;

-

paragraph 79(a)(iv) of IAS 1; and

-

paragraph 73(e) of IAS 16 Property, Plant and Equipment;

•

the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

•

the requirements of

-

paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and

-

paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7;

•

the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

•

the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;

•

the requirements of paragraph 74(b) of IAS 16;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

•

the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Operating lease commitments

The company has entered into equipment leases as a lessee. The classification of such leases as operating or finance leases requires the company to determine, based on an evaluation of the terms and conditions of the arrangements, whether it retains or acquires the significant risks and rewards of ownership of these assets and accordingly whether the lease requires an asset and liability to be recognised in the balance sheet.

Turnover

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Interest income is recognised as interest accrues using the effective interest method.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property

19 years

Property improvements

10 years

Plant and equipment

3 to 10 years

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Finished goods are valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the value of finished goods.

Taxation

Current tax assets and liabilities are measured at the amount expected to be recovered from or

paid to the taxation authorities, based on tax rates and laws that are enacted or substantively enacted by the balance sheet date.

Income tax is charged or credited to other comprehensive income if it relates to items that are charged or credited to other comprehensive income. Similarly, income tax is charged or credited directly to equity if it relates to items that are credited or charged directly to equity. Otherwise income tax is recognised in the income statement.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or receive more tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on a undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Foreign currencies

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Leases

Leases are recognised as finance leases. The lease liability is initially recognised at the present value of the lease payments which have not yet been made and subsequently measured under the amortised cost method. The initial cost of the right-of-use asset comprises the amount of the initial measurement of the lease liability, lease payments made prior to the lease commencement date, initial direct costs and the estimated costs of removing or dismantling the underlying asset per the conditions of the contract.

Where ownership of the right-of-use asset transfers to the lessee at the end of the lease term, the right-of-use asset is depreciated over the asset’s remaining useful life. If ownership of the right-of-use asset does not transfer to the lessee at the end of the lease term, depreciation is charged over the shorter of the useful life of the right-of-use asset and the lease term.

Employee benefit costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Leasing commitments

The annual rentals due on operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,488,874

3,008,149

Social security costs

471,737

378,693

Other pension costs

167,185

126,983

4,127,796

3,513,825

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

2025

2024

Administration staff

5

7

Production staff

84

74

89

81

One of the directors is employed by the company's parent undertaking. A management fee of £652,032 (2024 £621,906) has been charged by the company's parent undertaking.

2025

2024

£

£

Directors' remuneration

142,392

129,627

Directors' pension contributions to money purchase schemes

11,410

11,078

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest on group loans

148,098

288,232

5.	PROFIT BEFORE TAXATION

The profit before taxation is stated after charging/(crediting):

2025

2024

£

£

Cost of inventories recognised as expense

17,357,723

18,267,667

Depreciation - owned assets

1,259,673

1,427,970

Foreign exchange differences

78,724

(194,535

)

6.	AUDITORS' REMUNERATION

2025

2024

£

£

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

21,286

19,640

Provision for fees payable to the company's current auditors for the audit of the financial statements

24,000

20,000

7.

TAXATION

Analysis of tax expense

No liability to UK corporation tax arose for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Factors affecting the tax expense

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

2025

2024

£

£

Profit before income tax

1,601,908

767,728

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

400,477

191,932

Effects of:

Depreciation in excess of capital allowances

26,679

(31,129

)

deductible for tax purposes

differences

Utilization of tax losses

(427,156

)

(160,803

)

recoverable deferred tax asset

Tax expense

-

-

8.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2025

2,753,270

27,554,508

30,307,778

Additions

8,016

809,882

817,898

Disposals

-

(630,450

)

(630,450

)

At 31 December 2025

2,761,286

27,733,940

30,495,226

DEPRECIATION

At 1 January 2025

1,508,539

22,576,207

24,084,746

Charge for year

65,738

1,193,935

1,259,673

Eliminated on disposal

-

(65,074

)

(65,074

)

At 31 December 2025

1,574,277

23,705,068

25,279,345

NET BOOK VALUE

At 31 December 2025

1,187,009

4,028,872

5,215,881

At 31 December 2024

1,244,731

4,978,301

6,223,032

Included in freehold property is £200,000 (2024 £200,000) relating to the estimated value of freehold land that is not depreciated.

9.

STOCKS

2025

2024

£

£

Raw materials

739,169

751,904

Finished goods

815,177

882,493

1,554,346

1,634,397

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,564,366

2,949,820

Other debtors

91,471

15,736

Amounts owed by parent undertakings

-

86,232

Prepayments and accrued income

402,828

287,713

4,058,665

3,339,501

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 13)

-

4,191,374

Leases (see note 13)

56,250

56,250

Trade creditors

3,092,892

2,027,921

Social security and other taxes

112,176

109,127

VAT

502,629

300,048

Amounts owed to parent undertakings

-

3,962

Accruals and deferred income

650,146

744,345

4,414,093

7,433,027

Included within trade creditors are amounts owed to parent undertakings of £Nil (2024 £385,496).

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Leases (see note 13)

31,031

87,281

Other creditors

4,883,408

-

4,914,439

87,281

Other creditors represents an intercompany long-term loan from Weener Plastics Group BV of £4,883,408 (2024 £Nil) The loan agreement states that the loan will be paid in full by 31 December 2027.

13.

FINANCIAL LIABILITIES - BORROWINGS

2025

2024

£

£

Current:

Bank overdrafts

-

4,191,374

Leases (see note 14)

56,250

56,250

56,250

4,247,624

Non-current:

Leases (see note 14)

31,031

87,281