REGISTERED NUMBER: 04211244 (England and Wales)

REGALEAD LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

J Whalley

D S Baker

G R Hubble

C A Regan

P Edwards

SECRETARY:

C A Regan

REGISTERED OFFICE:

Columbus House

Altrincham Road

Sharston

Manchester

M22 9AF

REGISTERED NUMBER:

04211244 (England and Wales)

AUDITORS:

Clarke Nicklin LLP

Chartered Accountants and

Statutory Auditors

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The year to 31 December 2025 marked a return to growth following a period of consolidation during the previous two years. Economic conditions remained challenging throughout the year, with consumer confidence continuing to be impacted by inflationary pressures, elevated interest rates and reduced levels of discretionary income.

In response to these conditions, the company remained focused on delivering high levels of customer service, innovation and product quality. The directors believe that this continued focus, together with the ability of the business to adapt to changing market conditions, contributed to an improved overall performance during 2025.

Whilst the wider market remained competitive, the company delivered growth in both turnover and profitability and was able to strengthen its position within its core markets. The directors are pleased with the progress made during the year and believe the business remains well placed to respond to future opportunities and challenges.

FINANCIAL PERFORMANCE INDICATORS

The company made a net profit of £360,993 (2024: net profit £245,327). Turnover for the year was £12,745K, an increase of 4.7% compared with 2024 at £12,171K. The directors were pleased to see growth in both sales and profitability despite continued challenging market conditions.

Gross margin improved as a result of operational efficiencies, product mix and pricing actions implemented to offset increases in raw material, freight and employment related costs. Administrative expenses increased during the year (2025: £4,259K versus 2024: £4,019K) reflecting the continued investment required to support the operations of the business and future growth initiatives, whilst remaining under careful control.

The directors are satisfied with the financial performance achieved during 2025. The company remains focused on developing opportunities within both existing and new markets and believes this approach will support continued growth and improved financial performance in future years.

PRINCIPAL RISKS AND UNCERTAINTIES

The key principal risks are:

The economic outlook remains uncertain. Ongoing geopolitical tensions and global trade uncertainties continue to place pressure on international supply chains, resulting in increased raw material, manufacturing and freight costs across a number of the company's key product categories. In addition, changes in the trading environment within key overseas manufacturing markets have contributed to further cost inflation on imported goods.

These additional pressures place a significant risk upon both the revenue and profitability of the company and may require increased costs to be passed onto the customer base in order to protect margins and maintain future financial performance.

The company has exposure to foreign currencies and mitigates this risk where it is feasible and cost effective to do so through currency forwards contracts. There were no currency forwards contract entered into that was outstanding as of 31 December 2025.

RegaLead derives an element of its revenues from lead products. The manufacture of lead strip is subject to sector specific Health and Safety and IPPC (environmental) regulations. Whilst RegaLead is fully compliant in its manufacturing and distribution processes, there is a future risk that change in either of these sets of regulations could affect the economic viability of manufacture, or else the distribution of the lead products into certain world territories.

ON BEHALF OF THE BOARD:

D S Baker - Director

12 June 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a provider of decorative products for the glass, windows, and door industries.

DIVIDENDS

The total distribution of dividends in the period ended 31 December 2025 was £195,670 (2024: £223,652).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

J Whalley

D S Baker

G R Hubble

C A Regan

Other changes in directors holding office are as follows:

P Edwards - appointed 1 January 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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;

-	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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Clarke Nicklin LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D S Baker - Director

12 June 2026

Opinion

We have audited the financial statements of Regalead Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 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 the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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.

Auditors' 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 a Report of the Auditors 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:

Procedures to identify risks:

-

enquiring of management concerning the company's procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas: timing of recognition of sales and purchases and their related stock movements, posting of unusual journals; and

-

obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety, pensions legislation and tax legislation.

The procedures to respond to risks identified included:

-

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above;

-

enquiring of management, concerning actual and potential litigation and claims;

-

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

reviewing correspondence with HMRC;

-

testing the timing and matching of income and expense transactions relating to stock movements either side of the year end; and

-

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulation that are not closely related to events and transactions reflected in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detection one resulting from an error, as fraud may involve deliberate concealment, by for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Andrew Baggot FCA (Senior Statutory Auditor)

for and on behalf of Clarke Nicklin LLP

Chartered Accountants and

Statutory Auditors

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

12 June 2026

TURNOVER

3

12,745,027

12,170,660

Cost of sales

8,109,101

7,835,442

GROSS PROFIT

4,635,926

4,335,218

Administrative expenses

4,259,494

4,018,775

376,432

316,443

Other operating income

163,390

123,082

OPERATING PROFIT

5

539,822

439,525

Interest receivable and similar income

988

1,006

540,810

440,531

Interest payable and similar expenses

6

70,020

89,904

PROFIT BEFORE TAXATION

470,790

350,627

Tax on profit

7

109,797

105,300

PROFIT FOR THE FINANCIAL YEAR

360,993

245,327

PROFIT FOR THE YEAR

360,993

245,327

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

360,993

245,327

FIXED ASSETS

Intangible assets

9

76,822

85,409

Tangible assets

10

1,150,273

876,525

Investments

11

6,279

6,279

Investment property

12

761,085

761,085

1,994,459

1,729,298

CURRENT ASSETS

Stocks

13

2,447,531

2,561,698

Debtors

14

1,689,906

1,693,140

Cash at bank and in hand

522,481

602,358

4,659,918

4,857,196

CREDITORS

Amounts falling due within one year

15

2,187,291

2,336,256

NET CURRENT ASSETS

2,472,627

2,520,940

TOTAL ASSETS LESS CURRENT LIABILITIES

4,467,086

4,250,238

CREDITORS

Amounts falling due after more than one year

16

(483,317

)

(506,100

)

PROVISIONS FOR LIABILITIES

20

(273,216

)

(198,908

)

NET ASSETS

3,710,553

3,545,230

CAPITAL AND RESERVES

Called up share capital

21

5,340

5,340

Share premium

22

100,000

100,000

Capital redemption reserve

22

4,660

4,660

Retained earnings

22

3,600,553

3,435,230

SHAREHOLDERS' FUNDS

3,710,553

3,545,230

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2026 and were signed on its behalf by:

C A Regan - Director

D S Baker - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

5,340

3,413,555

100,000

4,660

3,523,555

Changes in equity

Dividends

-

(223,652

)

-

-

(223,652

)

Total comprehensive income

-

245,327

-

-

245,327

Balance at 31 December 2024

5,340

3,435,230

100,000

4,660

3,545,230

Changes in equity

Dividends

-

(195,670

)

-

-

(195,670

)

Total comprehensive income

-

360,993

-

-

360,993

Balance at 31 December 2025

5,340

3,600,553

100,000

4,660

3,710,553

Cash flows from operating activities

Cash generated from operations

25

835,400

1,384,924

Interest paid

(64,381

)

(86,390

)

Interest element of hire purchase payments paid

(5,639

)

(3,514

)

Tax paid

(98,254

)

(154,550

)

Net cash from operating activities

667,126

1,140,470

Cash flows from investing activities

Purchase of intangible fixed assets

(15,811

)

(33,960

)

Purchase of tangible fixed assets

(292,337

)

(122,191

)

Sale of tangible fixed assets

3,532

15,243

Interest received

988

1,006

Net cash from investing activities

(303,628

)

(139,902

)

Cash flows from financing activities

New loans in year

96,559

154,502

Loan repayments in year

(268,333

)

(396,436

)

HP repayments in year

(75,931

)

(27,809

)

Equity dividends paid

(195,670

)

(223,652

)

Net cash from financing activities

(443,375

)

(493,395

)

(Decrease)/increase in cash and cash equivalents

(79,877

)

507,173

Cash and cash equivalents at beginning of year

26

602,358

95,185

Cash and cash equivalents at end of year

26

522,481

602,358

1.	COMPANY INFORMATION

Regalead Limited ("the Company") is a limited company incorporated in the United Kingdom. The address of its registered office and principal place of business is Columbus House, Altrincham Road, Sharston, Manchester, M22 9AF.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 applicable legislation as set out in the Companies Act 2006 and Schedule 1 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008. These financial statements have been prepared under the historical costs convention.

The financial statements are presented in Sterling (£).

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company, any potential risk that might impact the company's ability to meet its required solvency levels, and the position with regard to bank borrowing. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about RegaLead Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 405 of the Companies Act 2006 not to prepare consolidated financial statements, as its subsidiary undertakings taken together are not material for the purposes of giving a true and fair view.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and 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 if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following judgements have had the most significant effect on amounts recognised in the financial statements;

Depreciation - The useful life of fixed assets can vary significantly. Estimates are based on historic experience and current expectations of useful life. The size of prior year gains and losses on disposal are also factored in to estimates.

Stock provision - The net realisable value of stock is assessed by the directors regularly. A provision is made where this falls below the cost. The provision is based on an ageing formula that has been reviewed and updated based on historic outcomes and current marketability of products.

Bad debts - The directors regularly review debts and provide for those which are doubtful.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised on dispatch of goods.

Intangible assets

Goodwill is being amortised over its useful life of five years.

Computer software is being amortised over its useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

2% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets

Basic financial assets, including trade debtors, cash and bank balances and amounts owed by group undertakings, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the income statement.

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 the income statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial Liabilities

Basic financial liabilities, including trade creditors and amounts owed to group undertakings, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Derivative financial instruments

Where facilities are available, the company uses derivative instruments to reduce exposure to foreign exchange risk. The company does not hold or issue derivative financial instruments for speculative purposes.

Derivative financial instruments are initially recognised at cost when contracts are entered in to. At the end of each reporting period they are measured at fair value, with changes in fair value transferred to the income statement.

Invoice discounting advances

The company uses an invoice discounting facility and has adopted separate presentation whereby gross debts are included as an asset and the amount due to the factoring company is included within creditors. The interest and charges are recognised as they accrue and are included in the income statement.

Trade debtors

Trade receivables are initially recognised at fair value and subsequently measured at amortised cost less allowances for situations where recovery is doubtful. Such allowances are based on an individual assessment of each receivable.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

11,947,583

11,218,035

Europe

456,873

572,763

Rest of world

340,571

379,862

12,745,027

12,170,660

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,921,257

2,694,515

Social security costs

329,746

244,625

Other pension costs

97,575

81,372

3,348,578

3,020,512

The average number of employees during the year was as follows:

2025

2024

Production and warehouse

70

56

Administration

10

27

Sales

17

12

97

95

2025

2024

£

£

Directors' remuneration

336,916

239,901

Directors' pension contributions to money purchase schemes

22,510

21,097

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

4

3

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

107,958

102,688

Pension contributions to money purchase schemes

8,820

8,818

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

122,822

119,351

Depreciation - assets on hire purchase contracts

57,999

38,208

(Profit)/loss on disposal of fixed assets

(3,396

)

5,069

Goodwill amortisation

6,000

1,000

Computer software amortisation

18,398

13,510

Auditors' remuneration - audit services

22,000

22,000

Auditors' remuneration for non audit work

11,743

18,433

Operating leases - land and buildings

220,880

132,174

Operating leases - other

62,663

57,081

Foreign exchange (gains)/losses

19,109

14,852