ADDITIVE - X LIMITED


Directors	WHITEHOUSE, Linda Mary
	WHITEHOUSE, Peter David
	YOUNG, Joanna Louise


Registered Address	College Business Park
	Kearsley Road
	Ripon
	HG4 2RN


Registered Number	02272344 (England and Wales)

Notes to the Financial Statements
for the year ended 30 November 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	At the time of approving the financial statements, the director has a reasonable expectation that the group has adopt adequate resources to continue in operational existences for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Operating leases
	Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Fixtures and fittings	25	-

	Investments
	Investments in subsidiaries are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

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

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	23		26

3.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 December 24	1,246,739	1,903,798	3,150,537
Additions	-	15,177	15,177
Disposals	-	(129,802)	(129,802)
At 30 November 25	1,246,739	1,789,173	3,035,912
Depreciation and impairment
At 01 December 24	489,125	1,406,119	1,895,244
Charge for year	17,886	116,385	134,271
On disposals	-	(169,585)	(169,585)
At 30 November 25	507,011	1,352,919	1,859,930
Net book value
At 30 November 25	739,728	436,254	1,175,982
At 30 November 24	757,614	497,679	1,255,293

4.	Fixed asset investments
	The disposal represents the write-off of the Company's investment in Express Group Bulgaria, which has been closed.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 December 24	12,418	12,418
Disposals	(1,972)	(1,972)
At 30 November 25	10,446	10,446
Net book value
At 30 November 25	10,446	10,446
At 30 November 24	12,418	12,418

	Notes
	¹Investments in group undertakings and participating interests

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	652,339	804,343
Other debtors	-	281,223
Prepayments and accrued income	312,607	81,254
Total	964,946	1,166,820

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	346,949	318,325
Bank borrowings and overdrafts	8,821	-
Taxation and social security	248,005	6,481
Other creditors	5,258	5,756
Accrued liabilities and deferred income	204,119	24,344
Total	813,152	354,906

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	189,030	-
Total	189,030	-

8.	Creditors: amounts due after 5 years
	Included within bank borrowings and overdrafts falling due after more than one year is an amount of £150,449 (2024: £Nil) which is repayable by instalments and falls due after more than five years.

9.	Secured creditors
	Included in creditors is an amount of £197,850 (2024: Nil) which is secured by fixed and floating charges over the property and the assets to which they relate.

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	109,500	109,500
Total	109,500	109,500

11.	Pension commitments
	The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £5,258 (2024 - £5,756) were due to the fund. They are included in other creditors.

12.	Operating lease commitments
	At 30 November 2025 the company had future minimum lease payments under non-cancellable operating leases of £42,384 (2024 - £94,069).

13.	Related party transactions
	The Company has taken advantage of the exemption in Section 33 "Related Party Disclosures" from disclosing transactions with other members of the group, as permitted by FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,175,982		1,255,293
Investments	4		10,446		12,418
			1,186,428		1,267,711
Current assets
Stocks		595,845		521,669
Debtors	5	964,946		1,166,820
Cash at bank and on hand		1,377,368		894,549
		2,938,159		2,583,038
Creditors amounts falling due within one year	6	(813,152)		(354,906)
Net current assets (liabilities)			2,125,007		2,228,132
Total assets less current liabilities			3,311,435		3,495,843
Creditors amounts falling due after one year	7		(189,030)		-
Provisions for liabilities	10		(109,500)		(109,500)
Net assets			3,012,905		3,386,343
Capital and reserves
Called up share capital			2		4
Other reserves			2		-
Profit and loss account			3,012,901		3,386,339
Shareholders' funds			3,012,905		3,386,343