The director presents the strategic report for the period ended 31 December 2025.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the period end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole including maintaining margins in a period of volatile inflation, managing stock levels and supporting customers with suitable credit limits during challenging times. We also track performance against the Builders Merchant Building Index to aid focus and understanding of trends across the sector.

Turnover and gross margin of the company were as follows:

6 months             12 months to

to 31 December 2025 30 June 2025

£ £

Turnover 3,116,691 9,978,841

Gross profit 1,146,027 2,722,424

Gross profit (%) 36.77% 27.28%

The company continued to operate as an independent builders’ merchant serving trade and retail customers from its Tachbrook Park site. During the six months ended 31 December 2025, turnover was approximately £3.12 million. Market conditions remained challenging as higher borrowing costs, subdued housing activity and cautious customer spending continued to affect demand across the construction sector. Competitive pricing pressures remained evident throughout the merchanting industry.

Despite these conditions, the company maintained stable gross margins, strong liquidity and a robust balance sheet supported by significant property assets. The business ended the year with cash balances of approximately £2.7 million and no significant external bank borrowings.

The directors’ strategy remains focused on sustainable growth and improving profitability. Future development plans include continued investment in the Tachbrook Park operation, enhancement of the customer offering, development of higher-margin product ranges, expansion of digital and online sales channels and further investment in systems and operational efficiency. The directors believe the business is well placed to benefit from any recovery in construction activity while maintaining a prudent approach to financial management.

Results and Dividends

No dividends were paid during the year (2023:£nil).

Financial risk Management Objectives and Policies

On behalf of the board

The director presents his annual report and financial statements for the period ended 31 December 2025.

The principal activity of the company continued to be that of building and plumbing merchants.

The results for the period are set out on page 9.

The director who held office during the period and up to the date of signature of the financial statements was as follows:

The company's principal financial instruments comprise of cash.The main purpose of these financial instruments is to raise finance for the company's operations and expansion plans. The company has various other financial instruments such as trade debtors and trade creditors, which arise directly from its operations. The company does not enter into derivative transactions.

It is, and has been throughout the period under review, the company's policy that no trading in financial instruments shall be undertaken. The main risks arising from the company's financial instruments are interest rate risk, credit risk and liquidity risk. The board reviews and agrees policies for managing each of these risks and they are summarised below.

The company now operates without the need for any debt facilities and retains ample cash balances to support working capital requirements for the new business structure.

The company has no exposure to interest rates as it has no direct borrowing and does not expect to require any.

The company trades with only recognised, credit worthy third parties. It is the company policy that all customers who wish to trade on credit terms are subject to credit vetting procedures. In addition, receivable balances are monitored on an ongoing basis with the result that the company's exposure to bad debts is minimal.

The auditors, J W Hinks LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The company is a close company within the meaning of the Income and Corporation Taxes Act 1988.

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

• select suitable accounting policies and then apply them consistently;

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

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

The director is 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. He is 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.

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

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the period 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.

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.

In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

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

We have nothing to report in this regard.

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

• the information given in the strategic report and the director's report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

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 director's 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 director's remuneration specified by law are not made; or

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

As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and discussed the policies and procedures regarding compliance.

Specific areas considered were as follows:

• Enquiring with management and others to gain an understanding of the organisation itself including operations, financial reporting and known fraud or error.

• Evaluating and understanding the internal control system.

• Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear.

• Testing documentation supporting account balances or classes of transactions.

• Observing the physical stock count.

• Confirming accounts receivable and other accounts with a third party.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards.

This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Goods for resale are valued on a moving average basis using the cost of the stock. The year end valuation is calculated using the average cost and the physical stock held.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Under the old method, a provision was included in the accounts for stock that had not moved in the last 12 months. Each line was categorised and an appropriate stock is provision was applied based on changes in trends and tastes.

During the year ended 30 June 2025, management revised its method for identifying slow-moving stock. Under the new approach, any inventory item not sold in the preceding twelve months is written down in full to reflect its estimated net realisable value.

This represents a change in accounting estimate under FRS 102 and has been accounted for prospectively. The revision reflects management’s updated assessment of stock aging and turnover and ensures that inventory is stated at the lower of cost and net realisable value. The effect of the change has been recognised in the year ended 30 June 2025 profit or loss.

Building and Plumbing Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office and primary trading address is Tachbrook Park Drive, Tachbrook Park, Leamington Spa, Warwickshire, CV34 6RH.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of freehold property. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

Building and Plumbing Supplies Limited is a wholly owned subsidiary of BPS Warwick Limited and the results of Building and Plumbing Supplies Limited are included in the consolidated financial statements of BPS Warwick Limited which are available from Tachbrook Park Drive, Tachbrook Park, Leamington Spa, Warwick, CV34 6RH.

The financial statements for the current year cover the six-month period ended 31 December 2025. The comparative amounts are therefore not directly comparable, as they relate to a longer prior period.

The accounting period was shortened in order to return the company to its original year-end date following an extended reporting period in 2023 as part of an internal reorganisation.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

In assessing the appropriateness of the going concern assumption, the directors have considered the company’s financial position, cash flow forecasts, and trading performance, together with the current economic environment in which the company operates. The company reported a loss for the period; however, it maintains net assets of £7,929,976 and cash reserves of approximately £2.7 million.

The directors have also considered post year-end trading and financial performance, as well as forecasts for a period of at least twelve months from the date of approval of the financial statements. These forecasts indicate that the company will continue to operate within its available financial resources.

The company operates as a builders’ merchant in a competitive market and within a sector that has experienced trading pressures in recent periods. Notwithstanding this, the company benefits from a diversified customer base and except for hire purchase has no external debt, with funding supported through internal cash resources.

Based on the above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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

Tangible fixed assets are initially recorded at cost other than freehold property which is valued under the revaluation model.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Goods for resale are valued on a moving average basis using the cost of the stock. The year end valuation is calculated using the average cost and the physical stock held.

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

During the year ended 30 June 2025, management revised its method for identifying slow-moving stock. Under the new approach, any inventory item not sold in the preceding twelve months is written down in full to reflect its estimated net realisable value.

This represents a change in accounting estimate under FRS 102 and has been accounted for prospectively. The revision reflects management’s updated assessment of stock aging and turnover and ensures that inventory is stated at the lower of cost and net realisable value. The effect of the change has been recognised in the year ended 30 June 2025 profit or loss.

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

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

An analysis of the company's turnover is as follows:

The turnover and profit before taxation are attributable to the one principal activity of the company. All the company's turnover is generated from the United Kingdom.

During the prior year the company sold a number of branches generating an exceptional profit of £2,201,222 over the carrying value of the assets.

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

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (12 months to 30 June 2025 - 5).

The actual charge for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

Included in the cost of freehold property is freehold land of £1,216,667 (2025 - £1,216,667) which is not depreciated.

Land and buildings with a carrying amount of £3,650,000 were revalued by as follows:

1) Tachbrook Park - FHP on 15 September 2023

The independent valuers were not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The revaluation surplus is disclosed in note 25.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

During the year ended 30 June 2025, management revised its method for identifying slow-moving stock. Under the new approach, any inventory item not sold in the preceding twelve months is written down in full to reflect its estimated net realisable value.

This represents a change in accounting estimate under FRS 102 and has been accounted for prospectively. The revision reflects management’s updated assessment of stock aging and turnover and ensures that inventory is stated at the lower of cost and net realisable value. The effect of the change has been recognised in the year ended 30 June 2025 profit or loss of £191,547.

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. Hire purchase liabilities are secured against the assets to which they relate.

HSBC Bank Plc hold a debenture including a fixed charge over all present freehold and leasehold property. First fixed charge over book and other debts, chattels, goodwill and uncalled capital. both present and future, and first floating charge over all assets and undertaking both present and future dated 19 May 2010. This security was part satisfied on the 28 January 2025.

Hire purchase liabilities are secured against the asset purchased.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Total key management compensation for the 6 months to 31 December 2025 totalled £333,813 (12 months to 30 June 2025: £569,346).

The company has taken advantage of exemption of Section 33 of FRS 102 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

J R Dibble is a director of the company and purchased goods at arms length amounting to £163 during the 6 month period to 31 December 2025 (12 months to 30 June 2025: £1,436). At 31 December 2025 the amount due from J R Dibble was £24 (30 June 2025: £2).

G N Stanley was a director of the company and purchased goods at arms length amounting to £239 during the 6 month period to 31 December 2025 (12 months to 30 June 2025: £748). At 31 December 2025 the amount due from G N Stanley was £nil (30 June 2025: £nil).

M Cook was a director of the company and purchased goods at arms length amounting to £1,379 during the 6 month period to 31 December 2025 (12 months to 30 June 2025: £1,996). At 31 December 2025 the amount due from M Cook was £4 (30 June 2025: £64).

A Collins was a director of the company and purchased goods at arms length amounting to £787 during the 6 month period to 31 December 2025 (12 months to 30 June 2025: £4,390). At 31 December 2025 the amount due from A Collins was £80 (30 June 2025: £1,092).

The immediate parent company and controlling party is BPS Warwick Limited, a company registered in England and Wales.

BPS Warwick Limited is under the ultimate control of the Dibble family due to owning 100% of the issued share capital.

The consolidated financial statements of BPS Warwick Limited are available from their registered office, Tachbrook Park Drive, Tachbrook Park, Leamington Spa, Warwick, CV34 6RH.