Allgroup Packaging Holdings Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 15389887

Allgroup Packaging Holdings Limited

Financial Statements

31 December 2025

Allgroup Packaging Holdings Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Consolidated statement of comprehensive income	10

Consolidated statement of financial position	11

Company statement of financial position	12

Consolidated statement of changes in equity	13

Company statement of changes in equity	14

Consolidated statement of cash flows	15

Notes to the financial statements	16

Allgroup Packaging Holdings Limited

Officers and Professional Advisers

The board of directors	Mr G Clarke
	Mr M Clarke
	Mr R Clarke

Registered office	Somerville House, Blakeney Way
	Kingwood Lakeside
	Cannock
	Staffordshire
	England
	WS11 8LD

Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU

Allgroup Packaging Holdings Limited

Strategic Report

Year ended 31 December 2025

History and Family Value We have traded since 1994 with successful growth year on year. We're still family owned and run and have a strong sense of our core values running through the entire organisation but are also now large enough to be a strong player in the National, European and Global packaging markets. Principal Risks Key risks facing the business are external factors such as global supply chains and shipping lanes. We mitigate these risks by strong stock control, high stock levels, and bringing a sourcing and manufacturing closer to our headquarters. Another risk is the global economy and our customer base struggling financially. We mitigate this risk by very strong financial controls, credit insurance, continuous debt management. Our strong balance sheet and close monitoring of key financial ratios put these risks to a very low level for our company.

Corporate Social Responsibility The directors believe that the long-term interests of the company, its employees, its customers, and all of the stakeholders are best served by acting in a corporate social manner. Therefore, the company ensures that high standards are maintained in everything that we do. Allpack's continuous drive to 'not cost the earth' and to be sustainable in all products and services is borne out by our recent 'carbon neutral certification' achievement. Research and Development Allpack is continually striving to create products and services that add real value to our partners and to the planet. Our in-house R&D team are continually investing in the future of Allpack's sphere of influence.

Environment and Quality The directors of Allpack continue to believe in the company's core founding principles. Quality products, quality service, and quality people are what make a true difference to how we serve our customers. Similarly, and in line with our CSR commitments, we challenge everything we do through the lens of how it impacts on the environment around us. From manufacturing processes, to transport, to efficient infrastructures including a focus on switching to electric vehicles as our fleet is renewed. Financial Our strong balance sheet and financial ratios are testament to a well-run and established company. We're continually building on this for future generations that will rely on Allpack.

Our People The ongoing success of Allpack is due to our greatest asset, our people. We continue to build a strong team of dedicated professionals who live by our core values and commit to serving our customers' needs to the highest level. Ongoing training is continuous, and we strive to upskill and cross train in as many areas as possible. A structured organisational chart and a strong senior leadership team enable the company to run effectively even when directors are not present. We remain committed to equality and offer equal opportunities without reference to age, ethnicity, gender, sexual orientation, religion, or disability and we are opposed to all forms of discrimination. We have company policies to support these undertakings. I use this opportunity to extend my sincere thanks to all of our staff for their continued dedication and commitment to the company. The directors acknowledge that it is our employees that always have and continue to significantly contribute to the continued success of our business. Other Stakeholders We also recognise there are other important stakeholders beyond the immediate owners, staff, and customers. We strive to be a company of choice for supply partners, manufacturing partners, local and regional communities, and even charities that we support to have enjoyable interactions with.

Going Concern and The Future The board of directors are required to consider the company's ability to continue trading. The board are more than confident that the company can continue to trade successfully for many more years to come. Our strong order book, strong balance sheet, strong liquidity, and consistent profits enable the company to have a bright future.

This report was approved by the board of directors on 31 March 2026 and signed on behalf of the board by:

Mr G Clarke

Director

Registered office:

Somerville House, Blakeney Way

Kingwood Lakeside

Cannock

Staffordshire

England

WS11 8LD

Allgroup Packaging Holdings Limited

Directors' Report

Year ended 31 December 2025

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

Directors

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

Mr G Clarke
Mr M Clarke
Mr R Clarke

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, 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 group and the company and the profit or loss of the group 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 group and 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 group and the company's auditor is aware of that information.

This report was approved by the board of directors on 31 March 2026 and signed on behalf of the board by:

Mr G Clarke

Director

Registered office:

Somerville House, Blakeney Way

Kingwood Lakeside

Cannock

Staffordshire

England

WS11 8LD

Allgroup Packaging Holdings Limited

Independent Auditor's Report to the Members of Allgroup Packaging Holdings Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Allgroup Packaging Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated 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 group's and of the parent company's affairs as at 31 December 2025 and of the group's 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 group 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 group's or the parent 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 group and the parent 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company 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 group's and the parent 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 group or the parent 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. 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: - Review of directors minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that company must follow in the year and to the date of signing the financial statements. - The assessment of fraud was consider as low due to the segregation of duties seen, the low levels of cash handled and the regular reporting requirements to the members. A review of journal entries and consideration of their appropriateness was carried out through the audit. - During the audit we speak to management, test the systems and speak to various members of the finance function to understand the entity its processes and the nature of trade to assist in determining if the financial statements are true and fair. - Challenging assumptions made by management in making their significant accounting estimates. - Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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.

Penelope Bowden ACA

(Senior Statutory Auditor)

For and on behalf of

Riverside Accountancy Lancaster Limited

Chartered accountants & statutory auditor

Suite 2, 2 Mannin Way

Lancaster Business Park

Caton Road

Lancaster

LA1 3SU

31 March 2026

Allgroup Packaging Holdings Limited

Consolidated Statement of Comprehensive Income

Year ended 31 December 2025

		2025	2024
			(restated)
Note		£	£
Turnover	4	39,139,882	31,069,629

Cost of sales	27,402,174	20,553,927
	-------------	-------------
Gross profit	11,737,708	10,515,702

Distribution costs		28,360	19,038
Administrative expenses		10,970,026	9,492,271
Other operating income	5	–	634
		-------------	-------------
Operating profit	6	739,322	1,005,027

Other interest receivable and similar income	10	110,808	128,169
Interest payable and similar expenses	11	42,055	26,585
		-------------	-------------
Profit before taxation		808,075	1,106,611

Tax on profit	12	515,087	416,374
		---------	------------
Profit for the financial year and total comprehensive income		292,988	690,237
		---------	------------

All the activities of the group are from continuing operations.

Allgroup Packaging Holdings Limited

Consolidated Statement of Financial Position

31 December 2025

	2025	2024
		(restated)
Note	£	£

Fixed assets

Intangible assets	14	12,255,943	13,484,721
Tangible assets	15	610,937	685,995
		-------------	-------------
		12,866,880	14,170,716

Current assets

Stocks	17	3,044,367	3,139,466
Debtors	18	18,583,192	15,722,415
Cash at bank and in hand		2,059,708	2,333,382
		-------------	-------------
		23,687,267	21,195,263

Creditors: amounts falling due within one year	19	8,154,842	5,307,911
		-------------	-------------
Net current assets		15,532,425	15,887,352
		-------------	-------------
Total assets less current liabilities		28,399,305	30,058,068

Creditors: amounts falling due after more than one year	20	38,961	80,167

Provisions	22	41,753	30,958
		-------------	-------------
Net assets		28,318,591	29,946,943
		-------------	-------------

Capital and reserves

Called up share capital	27	28,275,000	29,775,000
Profit and loss account	28	43,591	171,943
		-------------	-------------
Shareholders funds		28,318,591	29,946,943
		-------------	-------------

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 31 March 2026 , and are signed on behalf of the board by:

Mr G Clarke

Director

Company registration number: 15389887

Allgroup Packaging Holdings Limited

Company Statement of Financial Position

31 December 2025

	2025	2024
		(restated)
Note	£	£

Fixed assets

Investments	16	30,375,000	29,775,000

Current assets

Debtors	18	1,488,107	1,679,962

Creditors: amounts falling due within one year	19	2,672,701	1,801,314
		------------	------------
Net current liabilities		1,184,594	121,352
		-------------	-------------
Total assets less current liabilities		29,190,406	29,653,648
		-------------	-------------

Capital and reserves

Called up share capital	27	28,275,000	29,775,000
Profit and loss account	28	915,406	( 121,352)
		-------------	-------------
Shareholders funds		29,190,406	29,653,648
		-------------	-------------

The profit for the financial year of the parent company was £ 1,307,258 (2024: £ 396,942 ).

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 31 March 2026 , and are signed on behalf of the board by:

Mr G Clarke

Director

Company registration number: 15389887

Allgroup Packaging Holdings Limited

Consolidated Statement of Changes in Equity

Year ended 31 December 2025

		Called up share capital	Profit and loss account	Total
		£	£	£
At 1 January 2024		–	–	–

Profit for the year			690,237	690,237
		----	---------	---------
Total comprehensive income for the year		–	690,237	690,237

Issue of shares		29,775,000	–	29,775,000
Dividends paid and payable	13	–	( 518,294)	( 518,294)
		-------------	---------	-------------
Total investments by and distributions to owners		29,775,000	( 518,294)	29,256,706

At 31 December 2024		29,775,000	171,943	29,946,943

Profit for the year			292,988	292,988
		-------------	---------	-------------
Total comprehensive income for the year		–	292,988	292,988

Dividends paid and payable	13	–	( 421,340)	( 421,340)
Redemption of shares		( 1,500,000)	–	( 1,500,000)
		------------	---------	------------
Total investments by and distributions to owners		( 1,500,000)	( 421,340)	( 1,921,340)

		-------------	---------	-------------
At 31 December 2025		28,275,000	43,591	28,318,591
		-------------	---------	-------------

Allgroup Packaging Holdings Limited

Company Statement of Changes in Equity

Year ended 31 December 2025

		Called up share capital	Profit and loss account	Total
		£	£	£
At 1 January 2024		–	–	–

Profit for the year			396,942	396,942
		----	---------	---------
Total comprehensive income for the year		–	396,942	396,942

Issue of shares		29,775,000	–	29,775,000
Dividends paid and payable	13	–	( 518,294)	( 518,294)
		-------------	---------	-------------
Total investments by and distributions to owners		29,775,000	( 518,294)	29,256,706

At 31 December 2024		29,775,000	29,488	29,804,488

Profit for the year			1,307,258	1,307,258
		-------------	------------	-------------
Total comprehensive income for the year		–	1,307,258	1,307,258

Dividends paid and payable	13	–	( 421,340)	( 421,340)
Redemption of shares		( 1,500,000)	–	( 1,500,000)
		------------	---------	------------
Total investments by and distributions to owners		( 1,500,000)	( 421,340)	( 1,921,340)

		-------------	---------	-------------
At 31 December 2025		28,275,000	915,406	29,190,406
		-------------	---------	-------------

Allgroup Packaging Holdings Limited

Consolidated Statement of Cash Flows

Year ended 31 December 2025

	2025	2024
		(restated)
	£	£

Cash flows from operating activities

Profit for the financial year	292,988	690,237

Adjustments for:
Depreciation of tangible assets	210,386	188,340
Amortisation of intangible assets	1,883,668	1,666,654
Other interest receivable and similar income	( 110,808)	( 128,169)
Interest payable and similar expenses	42,055	26,585
(Gains)/loss on disposal of tangible assets	( 6,404)	50,707
Tax on profit	515,087	416,374
Accrued expenses	198,318	718,518

Changes in:
Stocks	95,099	( 3,139,466)
Trade and other debtors	( 2,860,777)	( 15,722,415)
Trade and other creditors	3,205,720	4,078,145
	------------	-------------
Cash generated from operations	3,465,332	( 11,154,490)

Interest paid	( 42,055)	( 26,585)
Interest received	110,808	128,169
Tax paid	( 995,067)	( 660,331)
	------------	-------------
Net cash from/(used in) operating activities	2,539,018	( 11,713,237)
	------------	-------------

Cash flows from investing activities

Purchase of tangible assets	( 149,721)	( 268,855)
Proceeds from sale of tangible assets	20,797	899,618
Purchase of intangible assets	( 655,000)	–
Proceeds from sale of intangible assets	110	–
	------------	-------------
Net cash (used in)/from investing activities	( 783,814)	630,763
	------------	-------------

Cash flows from financing activities

Proceeds from issue of ordinary shares	–	29,775,000
Payments of share issue costs	–	( 15,775,000)
Purchase of own shares	( 1,500,000)	–
Payments of finance lease liabilities	( 107,538)	( 65,850)
Dividends paid	( 421,340)	( 518,294)
	------------	-------------
Net cash (used in)/from financing activities	( 2,028,878)	13,415,856
	------------	-------------

Net (decrease)/increase in cash and cash equivalents	( 273,674)	2,333,382
Cash and cash equivalents at beginning of year	2,333,382	–
	------------	------------
Cash and cash equivalents at end of year	2,059,708	2,333,382
	------------	------------

Allgroup Packaging Holdings Limited

Notes to the Financial Statements

Year ended 31 December 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 Somerville House, Blakeney Way, Kingwood Lakeside, Cannock, Staffordshire, WS11 8LD, England.

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.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of Allgroup Packaging Holdings Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

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: Useful economic life of tangible assets: the annual depreciation charge is sensitive to changes in the estimated economic lives and residual value of tangible fixed assets. Management re-assess these annually and amend them where necessary to reflect current estimates. 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: Impairment of debtors: When assessing the recoverability of debtors, management consider the type of business and past recoverability. Stock provisions are determined as and when required, this can be related to slow moving and also reduced pricing of goods sold post the year end.

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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

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

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	Over the economic life of the asset
Patents, trademarks and licences	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

Investments in joint ventures

Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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
		(restated)
	£	£
Sale of goods	38,831,350	31,021,749
Rendering of services	308,532	47,880
	-------------	-------------
	39,139,882	31,069,629
	-------------	-------------

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

5. Other operating income

	2025	2024
		(restated)
	£	£
Other operating income	–	634
	----	----

6. Operating profit/(loss)

Operating profit or loss is stated after charging/crediting:

	2025	2024
		(restated)
	£	£
Amortisation of intangible assets	1,883,668	1,666,654
Depreciation of tangible assets	210,386	188,340
(Gains)/loss on disposal of tangible assets	( 6,404)	50,707
Impairment of trade debtors	28,634	136,211
Foreign exchange differences	92,986	78,971
	------------	------------

7. Auditor's remuneration

	2025	2024
		(restated)
	£	£
Fees payable for the audit of the financial statements	19,920	17,600
	--------	--------

8. Staff costs

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

	2025	2024
	No.	No.
Number of other staff	78	80
	----	----

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

	2025	2024
		(restated)
	£	£
Wages and salaries	3,844,674	3,358,945
Social security costs	414,595	314,268
Other pension costs	64,566	47,167
	------------	------------
	4,323,835	3,720,380
	------------	------------

9. Directors' remuneration

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

	2025	2024
		(restated)
	£	£
Remuneration	75,420	75,420
	--------	--------

10. Other interest receivable and similar income

	2025	2024
		(restated)
	£	£
Interest on cash and cash equivalents	87,862	84,103
Interest receivable	22,946	44,066
	---------	---------
	110,808	128,169
	---------	---------

11. Interest payable and similar expenses

	2025	2024
		(restated)
	£	£
Interest on obligations under finance leases and hire purchase contracts	21,143	18,454
Other interest payable and similar charges	20,912	8,131
	--------	--------
	42,055	26,585
	--------	--------

12. Tax on profit

Major components of tax expense

	2025	2024
		(restated)
	£	£

Current tax:

UK current tax expense	504,292	531,806

Deferred tax:

Origination and reversal of timing differences	10,795	( 115,432)
	---------	---------
Tax on profit	515,087	416,374
	---------	---------

Reconciliation of tax expense

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

	2025	2024
		(restated)
	£	£
Profit on ordinary activities before taxation	808,075	1,106,611
	---------	------------
Profit on ordinary activities by rate of tax	759,663	931,708
Adjustment to tax charge in respect of prior periods	( 37,710)	( 70,567)
Effect of expenses not deductible for tax purposes	3,551	24,220
Effect of capital allowances and depreciation	( 10,542)	( 47,043)
Effect of revenue exempt from tax	( 210,670)	( 259,148)
Effect of different UK tax rates on some earnings	10,795	(36,870)
Unused tax losses	–	( 125,926)
	---------	------------
Tax on profit	515,087	416,374
	---------	------------

13. Dividends

	2025	2024
		(restated)
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	421,340	518,294
	---------	---------

14. Intangible assets

Group	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 January 2025 (as restated)	13,676,317	2,478,853	16,155,170
Additions	655,000	–	655,000
Disposals	( 110)	–	( 110)
	-------------	------------	-------------
At 31 December 2025	14,331,207	2,478,853	16,810,060
	-------------	------------	-------------
Amortisation
At 1 January 2025	1,664,546	1,005,903	2,670,449
Charge for the year	1,387,897	495,771	1,883,668
	-------------	------------	-------------
At 31 December 2025	3,052,443	1,501,674	4,554,117
	-------------	------------	-------------
Carrying amount
At 31 December 2025	11,278,764	977,179	12,255,943
	-------------	------------	-------------
At 31 December 2024	12,011,771	1,472,950	13,484,721
	-------------	------------	-------------

The company has no intangible assets.

15. Tangible assets

Group	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2025 (as restated)	94,593	887,340	450,321	33,972	1,466,226
Additions	23,925	85,626	5,000	35,170	149,721
Disposals	–	–	( 67,997)	( 1,795)	( 69,792)
	---------	---------	---------	--------	------------
At 31 December 2025	118,518	972,966	387,324	67,347	1,546,155
	---------	---------	---------	--------	------------
Depreciation
At 1 January 2025	47,598	441,051	288,755	2,827	780,231
Charge for the year	17,027	137,439	46,075	9,845	210,386
Disposals	–	–	( 55,363)	( 36)	( 55,399)
	---------	---------	---------	--------	------------
At 31 December 2025	64,625	578,490	279,467	12,636	935,218
	---------	---------	---------	--------	------------
Carrying amount
At 31 December 2025	53,893	394,476	107,857	54,711	610,937
	---------	---------	---------	--------	------------
At 31 December 2024	46,995	446,289	161,566	31,145	685,995
	---------	---------	---------	--------	------------

The company has no tangible assets.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Group	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 December 2025	174,826	27,782	202,608
	---------	--------	---------
At 31 December 2024	221,064	68,063	289,127
	---------	--------	---------

16. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 January 2025 as restated	29,775,000
Additions	600,000
	-------------
At 31 December 2025	30,375,000
	-------------
Impairment
At 1 January 2025 as restated and 31 December 2025	–
	-------------

Carrying amount
At 31 December 2025	30,375,000
	-------------
At 31 December 2024	29,775,000
	-------------

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
Allpack Packaging Limited	Ordinary	100
Allgroup Holdings Limited	Ordinary	100

17. Stocks

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Raw materials and consumables	3,044,367	3,139,466	–	–
	------------	------------	----	----

18. Debtors

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Trade debtors	9,386,862	6,325,553	–	–
Amounts owed by group undertakings	–	–	641,944	–
Prepayments and accrued income	563,803	539,516	–	–
Directors loan account	819,223	1,679,962	819,223	1,679,962
Other debtors	7,813,304	7,177,384	26,940	–
	-------------	-------------	------------	------------
	18,583,192	15,722,415	1,488,107	1,679,962
	-------------	-------------	------------	------------

19. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Trade creditors	5,876,501	2,508,945	–	–
Bills of exchange payable	61,030	–	–	–
Amounts owed to group undertakings	–	–	2,622,067	1,569,175
Accruals and deferred income	916,836	718,518	–	–
Corporation tax	158,962	649,737	4,831	9,829
Social security and other taxes	820,070	724,192	–	–
Obligations under finance leases and hire purchase contracts	46,019	112,351	–	–
Other creditors	275,424	594,168	45,803	222,310
	------------	------------	------------	------------
	8,154,842	5,307,911	2,672,701	1,801,314
	------------	------------	------------	------------

20. Creditors: amounts falling due after more than one year

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Obligations under finance leases and hire purchase contracts	38,961	80,167	–	–
	--------	--------	----	----

21. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Not later than 1 year	46,019	112,351	–	–
Later than 1 year and not later than 5 years	38,961	80,167	–	–
	--------	---------	----	----
	84,980	192,518	–	–
	--------	---------	----	----

22. Provisions

Group	Deferred tax (note 23)
	£
At 1 January 2025 (as restated)	30,958
Additions	10,795
	--------
At 31 December 2025	41,753
	--------

The company does not have any provisions.

23. Deferred tax

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

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Included in provisions (note 22)	41,753	30,958	–	–
	--------	--------	----	----

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

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Accelerated capital allowances	41,753	123,832	–	–
	--------	---------	----	----

24. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 64,566 (2024: £ 47,167 ).

25. Investment in subsidiaries

Allgroup Packaging Holdings owns 100% of the ordinary share capital of Allgroup Holdings Limited.

Allgroup Holdings Limited owns 100% ordinary share of Allpack Packaging Limited.

All companies are registered in England and Wales. All company registered offices are the same as the parent company.

26. Prior period errors

During the preparation of the 2025 accounts, it came to the directors attention that costs for payroll had been incorrectly processed the accounts. This has resulted in a reduction in profits for the prior year and a reduction in tax payable .

27. Called up share capital

Issued, called up and fully paid

	2025		2024
			(restated)
	No.	£	No.	£
AIT Ordinary Shares shares of £ 1 each	3,712,500	3,712,500	3,712,500	3,712,500
A2T Ordinary Shares shares of £ 1 each	3,712,500	3,712,500	3,712,500	3,712,500
B1T Ordinary Shares shares of £ 1 each	3,712,500	3,712,500	3,712,500	3,712,500
B2T Ordinary Shares shares of £ 1 each	3,712,500	3,712,500	3,712,500	3,712,500
C1T Ordinary Shares shares of £ 1 each	3,712,500	3,712,500	3,712,500	3,712,500
C2T Ordinary Shares shares of £1 each	3,712,500	3,712,500	3,712,500	3,712,500

Redeemable P1 shares of £1 each	3,000,000	3,000,000	3,750,000	3,750,000
Redeemable P2 shares of £1 each	3,000,000	3,000,000	3,750,000	3,750,000
	-------------	-------------	-------------	-------------
	28,275,000	28,275,000	29,775,000	29,775,000
	-------------	-------------	-------------	-------------

28. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

29. Analysis of changes in net debt

	At 1 Jan 2025	Cash flows	At 31 Dec 2025
	£	£	£
Cash at bank and in hand	2,333,382	(273,674)	2,059,708
Debt due within one year	(112,351)	66,332	(46,019)
Debt due after one year	(80,167)	41,206	(38,961)
	------------	---------	------------
	2,140,864	( 166,136)	1,974,728
	------------	---------	------------

30. Operating leases

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

	Group		Company
	2025	2024	2025	2024
		(restated)	(restated)
	£	£	£	£
Not later than 1 year	877,747	841,378	–	–
Later than 1 year and not later than 5 years	1,209,713	1,683,193	–	–
	------------	------------	----	----
	2,087,460	2,524,571	–	–
	------------	------------	----	----

31. Charges on assets

There is a fixed charge on the company trade debtors from RBS invoice discounting limited, dated October 2025.

32. Directors' advances, credits and guarantees

At the year end there are amounts owed by directors of £819,222. The loan are repayable on demand, interest is charged at HMRC official rate .

33. Controlling party

The company is under the control of its directors.