The directors present the strategic report for the year ended 31 March 2026.

The principal activity of The Klinsmann Partnership Ltd (“TKPL") during the year was the development, marketing and distribution of its own-brand, next-generation alternative nicotine products. TKPL is a specialist in the smoke-free nicotine category, operating two principal brands: Bar Juice, an established range of e-liquids and vaping products, and SNÜ, a proprietary modern oral nicotine-pouch brand. Built on the combination of product innovation, regulatory compliance and deep, multi-channel distribution, we pair the agility and focus of a category specialist with the operating discipline and quality standards of a scale category leader.

TKPL generates sales in the United Kingdom and selected international markets through a diversified network of specialist and online retailers, national distributors, grocery multiples, convenience stores and impulse operators. This breadth of distribution, developed through successive years of investment, provides TKPL with both extensive market reach and continuous, real-time insight into consumer behaviour and emerging category trends.

During the year, TKPL continued to invest in the platform underpinning its growth. This included further investment in its proprietary SNÜ nicotine-pouch brand, preparation for the relocation to a new distribution and operational headquarters, expansion of its product development, marketing and regulatory compliance functions, and continued enhancement of its systems, data capabilities and customer service. These investments strengthen the operational foundation from which we intend to scale our modern oral nicotine business and extend our category leadership.

Our business model

TKPL operates a brand-led, asset-light business model designed to convert consumer and category insight into differentiated, compliant products at pace. TKPL owns and controls its brands, product formulations and quality specifications, while manufacturing through a carefully selected base of specialist partners and suppliers. This structure enables TKPL to protect margin, maintain rigorous control over product standards and regulatory compliance, and reinvest in innovation and distribution.

Value is created through four reinforcing capabilities: proprietary brands that command strong consumer loyalty; an in-house product development and regulatory function that brings compliant products to market quickly; a broad, multi-channel distribution footprint; and a disciplined, cash-generative financial model. Together these capabilities create a virtuous cycle in which scale funds innovation, innovation deepens distribution, and distribution generates the insight that shapes the next generation of products.

Our strategy

TKPL's strategy is to build a category-leading, smoke-free nicotine business by delivering superior products to adult consumers seeking alternatives to combustible tobacco. The directors have set the following strategic priorities:

• Build SNÜ into a leading modern oral nicotine brand. The directors regard nicotine pouches as the most significant structural growth opportunity in the category and intend to make SNÜ the primary engine of TKPL’s future growth, supported by focused investment in brand, format and flavour innovation, distribution and adult-consumer awareness.

• Extend the leadership of Bar Juice. TKPL will continue to strengthen its established e-liquids portfolio, prioritising compliant, reusable and refillable formats and consolidating its position with retail and distribution partners.

• Deepen and diversify distribution. TKPL will continue to broaden its routes to market across specialist, grocery, convenience and direct-to-consumer channels in the United Kingdom and selected international markets.

• Lead on compliance and product quality. TKPL will maintain compliance-by-design across its portfolio, treating rigorous regulatory and quality standards as a source of competitive advantage and consumer trust.

• Invest in people, systems and platform. TKPL will continue to invest in the talent, data and operational infrastructure required to operate reliably and profitably at scale.

The directors believe that focused execution against these priorities, underpinned TKPL's financial strength and cash generation, will enable it to capitalise on the continued transition of adult nicotine consumers towards next-generation alternatives.

Financial review

TKPL delivered another year of strong, industry-leading financial performance, combining double-digit revenue growth across both brands with continued margin expansion. Revenue increased by 15% to £23.6m, following growth of 28% in the prior year, driven by the continued expansion of the Bar Juice e-liquids portfolio alongside material growth in nicotine pouches under the SNÜ brand.

Gross profit increased by 30% to £12.0m, with gross margin improving from 45% to 51%. Operating profit increased by 23% to £8.9m, with operating margin improving from 36% to 38%. The directors consider these margins to be industry-leading and believe this performance reflects the strength of TKPL’s brands, the breadth of its routes to market, favourable mix effects from the growth of higher-margin modern oral nicotine, and TKPL's ability to translate market insight into effective commercial execution. TKPL remained highly cash-generative throughout the year and continues to fund its growth and investment programme from operating cash flow while maintaining a robust balance sheet.

TKPL has been built around a specialist focus on smoke-free nicotine products and is well positioned to capitalise on the continued transition of adult consumers away from combustible tobacco towards next-generation alternatives. Its broad customer and channel base provides real-time market insight, enabling management to identify emerging trends early and to respond rapidly through product development and disciplined commercial execution.

Regulatory environment

TKPL operates in a highly regulated and rapidly evolving market, and the directors regard regulatory and scientific expertise as one of TKPL's core competitive strengths. During the year, the UK prohibition on the sale and supply of single-use (disposable) vaping products came into effect, accelerating the transition towards reusable and refillable formats, a shift the directors had anticipated and for which they had prepared the company's product portfolio for in advance. The directors also continued their preparations for the introduction of Vaping Products Duty, which is expected to take effect from October 2026, and continue to monitor the developing regulatory framework applicable to nicotine pouches and other modern oral products.

TKPL welcomes proportionate, evidence-based and consistently enforced regulation that supports high product standards, responsible marketing, the prevention of underage access and the sustainable transition of adult nicotine consumers away from combustible tobacco. Robust enforcement against non-compliant and illicit products further supports responsible, compliant operators like TKPL. The directors believe that TKPL's scale, operational capabilities, established compliance infrastructure and ability to adapt the product portfolio and processes leave TKPL well positioned to navigate the evolving regulatory environment and to benefit from the continued development of the market.

The directors continue to monitor wider regulatory developments closely and consider that increasing regulatory complexity places a growing premium on product compliance, scale, financial resources and the ability to adapt product portfolios and operating processes, which are attributes that favour established, well-invested operators.

Our people

Our performance is built on the capability, commitment and expertise of our team. As a specialist operating in a fast-moving and highly regulated category, TKPL depends on deep knowledge across product development, regulatory affairs, quality, commercial, marketing and supply-chain disciplines. The directors regard the attraction, development and retention of talented people as fundamental to the delivery of TKPL’s strategy and to its continued success.

During the year, we continued to strengthen our team, adding capability across product development, marketing, regulatory compliance and customer service to support our growth. We are committed to being a responsible and rewarding employer, fostering an inclusive, high-performance culture in which colleagues are supported to develop their skills, to progress and to share in TKPL's success, and in which the health, safety and wellbeing of employees are given the highest priority. The directors would like to thank all colleagues for their dedication and contribution during the year.

Sustainability and corporate responsibility

The directors are committed to operating TKPL responsibly and to high standards of corporate conduct. TKPL's core purpose, which is to provide adult consumers with high-quality next-generation alternatives to combustible tobacco, is aligned with the wider public-health objective of tobacco harm reduction, and the directors believe TKPL has an important and positive role to play in supporting adult smokers who choose to switch to smoke-free products.

TKPL markets its products responsibly and exclusively to adult consumers. It maintains strict controls designed to prevent underage access and requires its trade partners to uphold equivalent standards. Product quality and consumer safety are embedded in TKPL's compliance-by-design approach, from formulation and ingredient control through to testing, labelling and traceability.

We also recognise our environmental responsibilities. The transition, driven by regulation and consumer demand, away from single-use vaping products towards reusable, refillable and pouch formats supports a reduction in waste, and TKPL continues to work with its suppliers and partners to improve the sustainability of its products, packaging and operations. The directors keep TKPL's environmental, social and governance practices under review as the business grows.

Going concern

TKPL is profitable, cash-generative, funded from operating cash flow, and maintains a robust balance sheet. Having reviewed TKPL's financial position and projections, and having taken account of reasonably possible changes in trading performance together with the principal risks and uncertainties described above, the directors have a reasonable expectation that TKPL has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Future outlook

The directors remain confident in TKPL's prospects, supported by the strength of its brands, its established customer relationships, its compliance capabilities and its profitable, scalable and cash-generative operating model.

TKPL’s future strategy is centred on building SNÜ into a leading modern oral nicotine brand, complementing the continued strength of Bar Juice. TKPL will focus on increasing penetration of its established portfolio, scaling its nicotine-pouch business, deepening its distribution, developing selected adjacent categories and responding to evolving consumer demand and market conditions. The directors believe that TKPL is well positioned to deliver sustainable, profitable growth and to consolidate its position as a leader in the smoke-free nicotine category.

The directors have carried out a robust assessment of the principal risks and uncertainties facing TKPL. These relate principally to regulatory change and compliance, changes in consumer demand and preferences, competition, customer relationships and concentration, supply-chain resilience, product quality and safety, and financial risks including liquidity and credit. TKPL's scale, profitability and operational infrastructure provide a strong platform from which to manage these risks.

Regulatory change and compliance. TKPL operates in an evolving regulatory environment. The anticipated introduction of Vaping Products Duty in October 2026, together with further regulatory measures affecting nicotine products, may affect product pricing, consumer demand, stock levels and working-capital requirements. TKPL mitigates these risks through active regulatory monitoring and engagement, an established compliance infrastructure, disciplined stock and cash management, supplier and customer engagement, and ongoing adaptation of its product portfolio.

Consumer demand and competition. Shifts in consumer preferences, category dynamics or the actions of competitors could affect demand for TKPL’s products. The directors mitigate this risk through a multi-brand strategy, continuous product innovation, breadth of distribution and the real-time market insight provided by TKPL's broad customer base.

Customer relationships and concentration. TKPL relies on strong relationships with its retail and distribution partners. TKPL mitigates this risk by maintaining close commercial engagement, broadening its channel base and continuing to develop its direct-to-consumer platforms.

Supply chain and product quality. TKPL depends on a selected base of manufacturing partners and suppliers. TKPL mitigates supply-chain and product-quality risks through supplier due diligence, quality assurance and testing, inventory management and, where appropriate, diversification of supply.

Financial risk. TKPL is exposed to liquidity, credit and, to a lesser extent, foreign-exchange risk. The directors mitigate these risks through strong operating cash generation, prudent balance-sheet management, credit-control procedures and regular monitoring of exposures.

The directors regularly review TKPL's principal risks and consider that its strong profitability and operational infrastructure provide a solid foundation from which to manage future developments.

In performing their duties during the year, the directors have acted in the way they considered, in good faith, would be most likely to promote the success of TKPL for the benefit of its members as a whole, having regard to the matters set out in section 172(1) of the Companies Act 2006. In doing so, the directors have had regard to the likely long-term consequences of their decisions and to the interests of TKPL's wider stakeholders, including:

• Adult consumers: prioritising product quality, safety and responsible marketing, and the provision of credible next-generation alternatives to combustible tobacco.

• Employees: recognising that TKPL's people are central to its success and are entitled to a safe, inclusive and rewarding working environment.

• Customers, suppliers and partners: building long-term, mutually beneficial relationships based on reliability, quality and fair dealing.

• Regulators and government: engaging constructively and maintaining high standards of compliance in support of proportionate regulation of the category.

• Community and environment: having regard to TKPL’s wider social and environmental impact, including through its support for tobacco harm reduction and its efforts to reduce waste.

The directors consider the interests of these stakeholders in their decision-making, recognising that the long-term success of TKPL depends on maintaining strong relationships across all stakeholder groups and on upholding a reputation for high standards of business conduct.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2026.

The principal activity of the company continued to be that of of wholesale and distribution of their own brand of vape products and liquids.

The results for the year are set out on page 11.

During the year interim dividends were paid amounting to £7,200,820 (2025 - £173,000) to the company's shareholders.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Pierce C A Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a 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.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

The directors are responsible for preparing the annual 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 of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

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

• 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.

We have audited the financial statements of The Klinsmann Partnership Ltd (the 'company') for the year ended 31 March 2026 which comprise the profit and loss account, the balance sheet, the statement of changes in equity, the statement of cash flows 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 March 2026 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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 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.

Opinions on other matters prescribed by the Companies Act 2006

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

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.

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.

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.

In identifying and assessing risks of material misstatements in respect of irregularities (including fraud) we considered the following:

• The nature of the industry, the company’s control environment, the significant laws and regulations relevant to the company, and the company’s policies on detection of fraud;

• Results of our enquiries of management and of those charged with governance;

• Our review of disclosures included in the financial statements; and

• Engagement team discussions in respect of any potential indicators of non-compliance or fraud.

We have also performed specific procedures to consider the risk of management override and of fraud arising in significant transactions outside the normal course of business.

We did not identify a material risk of non-compliance with laws and regulations or of fraud.

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.

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.

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

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The Klinsmann Partnership Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 Cheapside, Leicester, LE1 5EA.

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. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

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.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

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 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.

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

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

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.

In the application of the company’s accounting policies, the directors are 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 average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The directors are the only key management personnel of the company.

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

Other debtors includes amounts paid to suppliers for goods in advance of receipt of £882,380 (2025 - £759,481).

The following are the major deferred tax liabilities and assets recognised by the company:

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:

During the year £79,712 (2025 - £77,716) of rent was paid to the directors and connected persons of the directors.

Dividends totalling £7,200,280 (2025 - £173,000) were paid in the year in respect of shares held by the company's directors both directly and indirectly.

Prior to 9 September 2025, the company was under the control of the directors, by virtue of their 100% shareholding in the company.

From that date, the immediate parent undertakings of the company were Aly Capital Ltd and May Assets Ltd. Aly Capital Ltd is 100% owned by H Ali, and May Assets Ltd is 100% owned by H Manir.

The directors therefore retained ultimate control of the company by virtue of their shareholdings in Aly Capital Ltd and May Assets Ltd.

In the prior year, sales with a value of £221,234 were omitted from the company's profit and loss account, and additional purchases with a value of £259,619 were included in the company's profit and loss account in error. The omitted sales and overstated purchases are now included/adjusted for in the prior year and current year. This has impacted the turnover and cost of sales for the prior and current year, as well as debtors owed to the company.

The impact on sales for the year ended 31 March 2025 was to increase sales to £20,476,219 from £20,254,895.

The impact on cost of sales for the year ended 31 March 2025 was to reduce cost of sales from £11,526,809 to £11,267,190.

The impact on the company's profit after tax for the year ended 31 March 2025 was to increase the profit to £5,074,013 to £5,554,955.

The impact on retained earnings at 31 March 2025 was to increase retained earnings to £10,673,348 from £9,571,790.

The impact on debtors at 31 March 2025 was to increase trade debtors to £418,946 from £76,870 and to increase other debtors to £760,070 from £589.