Paving Stones Direct UK Limited Company accounts

COMPANY REGISTRATION NUMBER: 09299360

Paving Stones Direct UK Limited

Financial Statements

30 November 2025

Paving Stones Direct UK Limited

Financial Statements

Year ended 30 November 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Statement of income and retained earnings	10

Statement of financial position	11

Statement of cash flows	12

Notes to the financial statements	13

Paving Stones Direct UK Limited

Officers and Professional Advisers

The board of directors	Mr T H Raisbeck
	Mr A K Adla

Registered office	Unit 4
	Turner Drive
	Worksop
	Nottinghamshire
	S81 7AE

Auditor	BK Plus Audit Ltd
	Chartered Certified Accountants
	Cannon House
	Rutland Road
	Sheffield
	S3 8DP

Paving Stones Direct UK Limited

Strategic Report

Year ended 30 November 2025

Business review

The company turnover for the year ended 30 November 2025 has increased to £16,497,771 from £16,301,670. Retained profits transferred to reserves were £3,468,094 (2024 - £2,250,497). The directors are satisfied with the results of the company for the year, while recognising the uncertain economic position in the UK, they also feel the company has performed well. Market conditions in the UK were uncertain due to the economic outlook, however the directors have continued to consolidate the company's operations, develop its distribution site and put the company in a position to pursue a strategy of growth for the future by developing the business model. The overall aim of the company is to supply quality products at competitive prices throughout the UK.

Principal risks and uncertainties

The company faces a number of business risks and uncertainties due to the general economic climate and exposure to foreign economies. Set out below are the key risks that have been identified and the company's approach to mitigating those risks. a. General economic climate The UK and rest of the world currently face economic uncertainty due to the global effects of the various conflicts, instability in the energy markets and the cost of living crisis. The trading activities of the company could be impacted by both UK and foreign Government legislation, this is totally outside the control of the directors. The company has looked to consolidate its operations and the directors continue to monitor the situation and the company's ability to adapt to the changing economic environment. b. Exposure to foreign economies The company purchases products from India, Europe and the Far East, this presents risks relating to the supply chain continuity, exchange rate fluctuations, variables relating to transportation reliability and costs and uncertainty over trade tariffs. The directors have regular contact with their overseas suppliers and try to ensure a good relationship is maintained so they are aware of supply issues at an early stage. The exchange rate fluctuations are managed by careful use of currency contracts. With the UK leaving the European Union the future of trade relationships is uncertain with both EU countries and the rest of the world now that the UK is free to negotiate its own terms of trade. The company is monitoring the situation in the countries concerned and will need to review its pricing position should any tariffs be introduced. c. Raw material prices Any significant increase in raw material prices and import costs could adversely affect the profitability of the company to the extent that they are not covered through increasing the sale price of products. d. Competitor activity In an increasingly competitive market, it is important to maintain the quality and product range, while still remaining keen on price, this will ensure the company's financial results are not adversely affected by competitors.

Future developments

The directors believe that the company is in a good financial position and that the major business risks have been identified and are being managed. The UK economic outlook remains quite uncertain as the cost of living crisis continues, impacted by world events that are influencing fuel and energy prices. The directors are maintaining the levels of turnover and continuing to control costs and always looking to expand the product range to complement the existing offering and to develop the company's network of distribution.

Financial instruments

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from its trading activities. The risk of exchange rate variances are mitigated by suitable currency contracts that minimise the exposure to exchange rate volatility. The company does not enter into any formally designated hedging arrangements.

This report was approved by the board of directors on 25 August 2026 and signed on behalf of the board by:

Mr T H Raisbeck	Mr A K Adla
Director	Director

Registered office:

Unit 4

Turner Drive

Worksop

Nottinghamshire

S81 7AE

Paving Stones Direct UK Limited

Directors' Report

Year ended 30 November 2025

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

Principal activities

The principal activities of the business continue to be the supply of paving stones and other related products and accessories.

Directors

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

Mr T H Raisbeck
Mr A K Adla

Dividends

The company has paid interim dividends in the year of £344,667 (2024 - £237,333).

Events after the end of the reporting period

Particulars of events after the reporting date are detailed in note 26 to the financial statements.

Disclosure of information in the strategic report

The directors have disclosed information regarding future developments and financial instruments in the Strategic Report of the company.

Directors' responsibilities statement

The directors are responsible for preparing the 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 company and 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 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 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 company's auditor is aware of that information.

This report was approved by the board of directors on 25 August 2026 and signed on behalf of the board by:

Mr T H Raisbeck	Mr A K Adla
Director	Director

Registered office:

Unit 4

Turner Drive

Worksop

Nottinghamshire

S81 7AE

Paving Stones Direct UK Limited

Independent Auditor's Report to the Members of Paving Stones Direct UK Limited

Year ended 30 November 2025

Opinion

We have audited the financial statements of Paving Stones Direct UK Limited (the 'company') for the year ended 30 November 2025 which comprise the statement of income and retained earnings, statement of financial position, 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 company's affairs as at 30 November 2025 and of its 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 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. 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 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, 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' 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 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 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. - Considering the nature of the industry and sector and the business performance. - Enquiry of management, and those charged with governance. - Reviewing minutes of meetings of those charged with governance. - Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations. - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. - Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. - There are inherent limitations in our audit procedures including those noted above. The more removed that laws and regulations are from the financial transactions, the less likely it is that we would become aware of non compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of directors and other management and inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error and as they may involve deliberate concealment of collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at: 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.

Grant Wade

(Senior Statutory Auditor)

For and on behalf of

BK Plus Audit Ltd

Chartered Certified Accountants

Cannon House

Rutland Road

Sheffield

S3 8DP

25 August 2026

Paving Stones Direct UK Limited

Statement of Income and Retained Earnings

Year ended 30 November 2025

		2025	2024
Note		£	£
Turnover	4	16,497,771	16,301,670

Cost of sales	( 6,498,385)	( 7,772,785)
	-------------	-------------
Gross profit	9,999,386	8,528,885

Distribution costs		( 3,178,352)	( 3,840,183)
Administrative expenses		( 1,904,923)	( 1,515,490)
Other operating income	5	26,683	23,150
		------------	------------
Operating profit	6	4,942,794	3,196,362

Other interest receivable and similar income	11	131,850	33,728
Interest payable and similar expenses	12	( 219)	( 11,172)
Exceptional items		( 2,000)	103,752
		------------	------------
Profit before taxation		5,072,425	3,322,670

Tax on profit	13	( 1,259,664)	( 834,840)
		------------	------------
Profit for the financial year and total comprehensive income		3,812,761	2,487,830
		------------	------------

Dividends paid and payable	14	( 344,667)	( 237,333)

Retained earnings at the start of the year	14,389,240	12,138,743
	-------------	-------------
Retained earnings at the end of the year	17,857,334	14,389,240
	-------------	-------------

All the activities of the company are from continuing operations.

Paving Stones Direct UK Limited

Statement of Financial Position

30 November 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	15		5,699,708	4,664,361

Current assets

Stocks	16	2,732,231	2,795,622
Debtors	17	2,301,970	2,733,745
Cash at bank and in hand		8,008,305	4,935,496
		-------------	-------------
		13,042,506	10,464,863

Creditors: amounts falling due within one year	18	981,192		837,461
		-------------		-------------
Net current assets			12,061,314	9,627,402
			-------------	-------------
Total assets less current liabilities			17,761,022	14,291,763

Provisions

Taxation including deferred tax	19	( 96,412)	( 97,577)
		-------------	-------------
Net assets		17,857,434	14,389,340
		-------------	-------------

Capital and reserves

Called up share capital	23	100	100
Profit and loss account		17,857,334	14,389,240
		-------------	-------------
Shareholders funds		17,857,434	14,389,340
		-------------	-------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 25 August 2026 , and are signed on behalf of the board by:

Mr T H Raisbeck	Mr A K Adla
Director	Director

Company registration number: 09299360

Paving Stones Direct UK Limited

Statement of Cash Flows

Year ended 30 November 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	3,812,761	2,487,830

Adjustments for:
Depreciation of tangible assets	108,864	106,441
Interest payable and similar expenses	219	11,172
Fair value adjustment of investment property	2,000	(103,752)
Other interest receivable and similar income	( 131,850)	( 33,728)
Loss on disposal of tangible assets	9,994	–
Tax on profit	1,259,664	834,840
Accrued expenses	7,684	6,607

Changes in:
Stocks	63,391	589,093
Trade and other debtors	431,775	( 308,932)
Trade and other creditors	( 4,846)	175,432
	------------	------------
Cash generated from operations	5,559,656	3,765,003

Interest paid	( 219)	( 11,172)
Interest received	131,850	33,728
Tax paid	( 1,117,606)	( 1,011,417)
	------------	------------
Net cash from operating activities	4,573,681	2,776,142
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 1,160,705)	( 1,045,957)
Proceeds from sale of tangible assets	4,500	–
	------------	------------
Net cash used in investing activities	( 1,156,205)	( 1,045,957)
	------------	------------

Cash flows from financing activities

Dividends paid	( 344,667)	( 237,333)
	------------	------------
Net cash used in financing activities	( 344,667)	( 237,333)
	------------	------------

Net increase in cash and cash equivalents	3,072,809	1,492,852
Cash and cash equivalents at beginning of year	4,935,496	3,442,644
	------------	------------
Cash and cash equivalents at end of year	8,008,305	4,935,496
	------------	------------

Paving Stones Direct UK 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 Unit 4, Turner Drive, Worksop, Nottinghamshire, S81 7AE.

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.

Going concern

The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

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. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: In valuing stock the directors have taken account of stock losses and breakages that occur during the delivery process based upon their experience in previous years. The directors have performed an impairment review of land and buildings and investment properties, with the assistance of independent valuers in order to establish the recoverability of the assets. The directors have provided for deferred tax on the impairment of fixed assets and the fair value adjustment of investment properties, on the basis that in their opinion this will be recoverable in future years. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Useful economic lives of fixed assets have been estimated by the directors and depreciation is provided based upon those estimates in order to write off the cost less the estimated realisable value over the period of the assets useful economic life.

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.

Exceptional items

Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.

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

Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the statement of income and retained earnings.

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:

Buildings	-	2%,4%,10% & 20% Straight line
Plant & Machinery	-	15% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	25% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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 entity 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. 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. Cash and cash equivalents, cash is represented by cash in hand held with financial institutions. Debtors, short term debtors are measured at the transaction price less any impairment. Creditors, short term creditors are measured at the transaction price.

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	16,497,771	16,301,670
	-------------	-------------

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

5. Other operating income

	2025	2024
	£	£
Other operating income	26,683	23,150
	--------	--------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	108,864	106,441
Loss on disposal of tangible assets	9,994	–
Impairment of trade debtors	(2,358)	1,628
Foreign exchange differences	23,359	68,463
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	14,000	14,000
	--------	--------

8. Staff costs

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

	2025	2024
	No.	No.
Management staff	2	2
Operations staff	25	23
	----	----
	27	25
	----	----

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

	2025	2024
	£	£
Wages and salaries	716,874	613,165
Social security costs	58,984	42,743
Other pension costs	316,531	15,935
	------------	---------
	1,092,389	671,843
	------------	---------

9. Directors' remuneration

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

	2025	2024
	£	£
Remuneration	30,539	27,535
Company contributions to defined contribution pension plans	304,800	4,800
	---------	--------
	335,339	32,335
	---------	--------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	2	2
	----	----

10. Exceptional items

	2025	2024
	£	£
Fair value adjustment of investment property	2,000	( 103,752)
	-------	---------

On 1 August 2024 a review of the freehold properties and investment properties was undertaken by Eddisons Chartered Surveyors. Based upon this review the company made an impairment provision for a freehold property and fair value adjustments for the investment properties in the accounts to 30 November 2023. Further fair value adjustment for investment property has been made in the years ended 30 November 2024 and 2025.

11. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	131,850	33,728
	---------	--------

12. Interest payable and similar expenses

	2025	2024
	£	£
Other interest payable and similar charges	219	11,172
	----	--------

13. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	1,258,499	809,728

Deferred tax:

Origination and reversal of timing differences	1,165	25,112
	------------	---------
Tax on profit	1,259,664	834,840
	------------	---------

Reconciliation of tax expense

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

	2025	2024
	£	£
Profit on ordinary activities before taxation	5,072,425	3,322,670
	------------	------------
Profit on ordinary activities by rate of tax	1,268,106	830,668
Effect of expenses not deductible for tax purposes	4,126	2,139
Effect of capital allowances and depreciation	( 7,792)	( 21,828)
Deferred taxation	1,165	25,112
Adjustment for tax on Interest received and receivable	( 5,941)	( 1,251)
	------------	------------
Tax on profit	1,259,664	834,840
	------------	------------

14. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	344,667	237,333
	---------	---------

15. Tangible assets

	Land and buildings	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Investment property	Total
	£	£	£	£	£	£
Cost or valuation
At 1 Dec 2024	4,062,562	387,387	121,069	222,055	916,000	5,709,073
Additions	1,045,949	48,726	51,658	14,372	–	1,160,705
Disposals	–	( 21,487)	( 9,067)	–	–	( 30,554)
Fair value adjustment	–	–	–	–	( 2,000)	( 2,000)
	------------	---------	---------	---------	---------	------------
At 30 Nov 2025	5,108,511	414,626	163,660	236,427	914,000	6,837,224
	------------	---------	---------	---------	---------	------------
Depreciation
At 1 Dec 2024	788,611	103,945	56,089	96,067	–	1,044,712
Charge for the year	15,261	45,215	14,972	33,416	–	108,864
Disposals	–	( 11,188)	( 4,872)	–	–	( 16,060)
	------------	---------	---------	---------	---------	------------
At 30 Nov 2025	803,872	137,972	66,189	129,483	–	1,137,516
	------------	---------	---------	---------	---------	------------
Carrying amount
At 30 Nov 2025	4,304,639	276,654	97,471	106,944	914,000	5,699,708
	------------	---------	---------	---------	---------	------------
At 30 Nov 2024	3,273,951	283,442	64,980	125,988	916,000	4,664,361
	------------	---------	---------	---------	---------	------------

Two of the Investment properties have been revalued on 1 August 2024 by an independent valuer, Eddisons Chartered Surveyors. The valuation of the two properties was based upon the land value only, due to the current condition of the buildings on both sites. The valuations looked at similar sites in the local areas as a basis of the valuation. The total market value of the properties is given at £500,000. The fair value adjustment to the investment properties was £252,668 loss. This loss was incorporated into the accounts for the year ended 30 November 2023. The directors consider that this valuation is still appropriate at 30 November 2025 as there have been no changes to the sites. A residential property was purchased in the year to 30 November 2024 and the directors have used an online tool to estimate the value of the property at 30 November 2025 giving rise to a fair value adjustment to the property of £7,000 surplus (2024 - £12,020 loss). A further residential property that was transferred from work in progress in the year to 30 November 2024 had a fair value adjustment at 30 November 2025 of £9,000 loss (2024 - £115,772 surplus). The original cost of the investment properties at 30 November 2025 was £1,064,916 (2024 - £1,064,916) During the year £26,650 income has been received from the investment properties (2024 - £23,117). Investment properties were transferred to PSD UK Holding Limited via a Dividend in Specie at market value of £664,000 on 23 July 2026 when they acquired the shares of Paving Stones Direct Limited in a share for share exchange. See events after the reporting date note 26 for further details.

Included within freehold property is property acquired by the company adjacent to its existing operating base. The property required extensive work to bring it into operational use, the directors undertook an impairment review in August 2024 and an independent valuation was obtained from Eddisons Chartered Surveyors in respect of the whole site. A provision for impairment was made at 30 November 2023 of £715,800. At 30 November 2025, if the impaired property was included in the balance sheet on the historical cost basis, it would be; cost of £3,546,198 (2024 - £3,294,030), accumulated depreciation of £29,506 (2024 - £23,391) and net book value of £3,516,692 (2024 - £3,270,639). Land and buildings were transferred to PSD UK Holding Limited via a Dividend in Specie at their net book value of £3,510,208 on 23 July 2026 when they acquired the shares of Paving Stones Direct UK Limited in a share for share exchange. See events after the reporting date note 26 for further details.

16. Stocks

	2025	2024
	£	£
Work in progress	400,136	382,039
Finished goods and goods for resale	2,332,095	2,413,583
	------------	------------
	2,732,231	2,795,622
	------------	------------

The profit and loss account in respect of the year ending 30 November 2025 includes a reduction of £20,372 (2024 - £118,888) in respect of the decrease in the provision of stock impairment for slow moving and obsolete stock. At 30 November 2025 the total stock impairment provision amounts to £583,024 (2024 - £603,396). A freehold property held in work in progress at the year-end was transferred to PSD UK Holding Limited via a Dividend in Specie at its cost of £218,810 on 23 July 2026 when they acquired the shares of Paving Stones Direct UK Limited by a share for share exchange. See events after the reporting date note 26 for further details.

17. Debtors

	2025	2024
	£	£
Trade debtors	1,785,953	2,104,867
Prepayments and accrued income	73,279	28,358
Corporation tax repayable	56,050	56,050
Directors loan account	55,801	165,894
Other debtors	330,887	378,576
	------------	------------
	2,301,970	2,733,745
	------------	------------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Corporation tax repayable	56,050	56,050
	--------	--------

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Payments received on account	4,344	740
Trade creditors	200,244	152,041
Accruals and deferred income	46,468	38,784
Corporation tax	428,458	287,565
Social security and other taxes	298,909	355,573
Other creditors	2,769	2,758
	---------	---------
	981,192	837,461
	---------	---------

19. Provisions

	Deferred tax (note 20)
	£
At 1 December 2024	( 97,577)
Additions	1,665
Fair value adjustment of investment property	( 500)
	--------
At 30 November 2025	( 96,412)
	--------

20. Deferred tax

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

	2025	2024
	£	£
Included in provisions (note 19)	( 96,412)	( 97,577)
	--------	--------

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

	2025	2024
	£	£
Accelerated capital allowances	120,267	118,602
Deferred tax - Impairment of freehold property	( 178,950)	( 178,950)
Deferred tax - Fair value adjustment of investment property	( 37,729)	( 37,229)
	---------	---------
	(96,412)	(97,577)
	---------	---------

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 11,731 (2024: £ 11,135 ).

22. Financial instruments

Cash and cash equivalents, cash is represented by cash in hand held with financial institutions. Debtors, short term debtors are measured at the transaction price less any impairment. Creditors, short term creditors are measured at the transaction price.

23. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company. All ordinary shares rank equally with regard to the company's residual assets. Called-up share capital represents the nominal value of shares that have been issued.

24. Analysis of changes in net debt

	At 1 Dec 2024	Cash flows	At 30 Nov 2025
	£	£	£
Cash at bank and in hand	4,935,496	3,072,809	8,008,305
	------------	------------	------------

25. Operating leases

As lessor

The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	19,053	27,900
Later than 1 year and not later than 5 years	–	87,700
	--------	---------
	19,053	115,600
	--------	---------

On 23 July 2026 PSD UK Holding Limited acquired from Paving Stones Direct UK Limited the properties on which lease rentals are received (see note 26 for further details). The above amounts only reflect the lease commitments up until 23 July 2026.

26. Events after the end of the reporting period

Post year-end the Company acquired an additional property for the consideration of £65,733. The acquisition was completed after the reporting date and accordingly, no adjustment has been made in the amounts recognised in these financial statements. The directors consider this transaction to be a non-adjusting event after the reporting date as defined by FRS 102. The property has been purchased for development and will be included in the financial statements to 30 November 2026 as work in progress. On 23 July 2026 the Company's issued ordinary share capital was acquired by a share for share exchange by PSD UK Holding Limited, a Company registered in England. Following the acquisition, Paving Stones Direct UK Limited transferred land and buildings at its written down value of £3,510,208, investment properties at market value of £664,000 and a property held in work in progress at the year end of £218,810 to PSD UK Holding Limited via a Dividend in Specie.

27. Directors' advances, credits and guarantees

At 1 December 2024 the directors owed the company £165,894 (1 December 2023 - £164,130). Payments made to or on behalf of the directors' in the year were £73,240 (2024 - £109,764). Dividends credited to the loan account were £183,333 (2024 - £108,000). The balance at 30 November 2025 due from the directors was £55,801 (2024 - £165,894). The loans are repayable on demand, unsecured and interest free.

Paving Stones Direct UK Limited

Notes to the Financial Statements (continued)

Year ended 30 November 2025

28. Related party transactions

The company had transactions with Stone and Porcelain Limited, a company in which the directors own 50% of the share capital. Net sales for the year to Stone and Porcelain Limited were £1,618,172 (2024 - £1,663,262). The gross amount outstanding, included in trade debtors at 30 November 2025 was £362,339 (2024 - £600,535). Net purchases for the year from Stone and Porcelain Limited were £180,319 (2024 - £144,4245). The gross amount outstanding in trade creditors at 30 November 2025 was £13,963 (2024 - - £4,390). The company had loan transactions with Paving Stones Direct Limited, a Canadian company, in which the directors own 45% of the share capital. At 1 December 2024 the Canadian company owed Paving Stones Direct UK Limited £378,576 (1 December 2023 - £407,767). During the year a repayment of £31,917 (2024 - £nil) was received. A loss on currency conversion of £15,772 (2024 - £29,191) was recognised. At 30 November 2025 the loan due to the company from Paving Stones Direct Limited Canada was £330,887 (2024 - £378,576). The loan is repayable on demand, unsecured and interest free.

29. Controlling party

The company was jointly controlled by the two directors during the year . On 23 July 2026, 100% of the ordinary share capital of the Company was acquired by PSD UK Holding Limited , a Company that is jointly controlled by Mr T H Raisbeck and Mr A K Adla . The Company's parent undertaking's registered office is Lloyd Chambers, 139 Carlton Road, Worksop, Nottinghamshire, S81 7AD .