Resapol Limited Company accounts

COMPANY REGISTRATION NUMBER: 3863571

Resapol Limited

Financial Statements

31 December 2025

Resapol Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Strategic report	1

Directors' report	3

Independent auditor's report to the members	5

Income statement	9

Statement of income and retained earnings	10

Statement of financial position	11

Statement of cash flows	13

Notes to the financial statements	14

Resapol Limited

Strategic Report

Year ended 31 December 2025

Fair review of the business Turnover has increased by 23% this year however gross margins have increased to 25% resulting in an increase in gross profit for the year. The current growth strategy continues to be implemented and monitored. Our focus continues to be to further widen the customer base and develop long term strategic relationships with all our customers. Our strategic objectives remain to continue to build the company's profitability, drive return on capital employed and maintain an appropriate capital structure. Current trading is good and improving, and we are confident in the outlook given the strategy we have in place. We expect to make further progress in the current financial year.

Principal Risks and Uncertainties The Directors are committed to identifying , evaluating and managing the principal risks and uncertainties facing the company. These risks are identified and assessed regularly and are measured against a defined set of criteria which includes the likelihood of occurrence and potential impact on the company. This information is combined to form a consolidated view of risk and ensures that we continue to improve our risk management process and the quality of risk information generated, whilst at the same time maintaining a simple and practical approach. The directors believe a successful risk management framework balances risk and reward and applies reasoned judgement and consideration of likelihood and impact in determining the company’s principal risks. As with any business we do face risks and uncertainties, both operationally and commercially, on a daily basis. it is the effective management of these that places us in a better positions to be able to achieve our strategic objectives and to embrace opportunities as they arise. The principal risks to the business are economic environment, product quality, pricing and financial. The effects of national or market trends may cause customers to postpone, reduce or change their purchasing patterns which may impact on the company's strategy, business model, revenue or profitability in the short or medium term. We continually review available market information to mitigate any effects of this by adapting our business model. Product quality is monitored on a continuous basis and the company complying with ISO 14001:2015, ISO 9001:2015 and OHSAS 18001:2007 accreditations from LRQA to to manage product risk. It is essential that the financial solvency and the strength of the business, of customers and suppliers is reviewed on a regular basis. Similarly credit risk - the risk of financial loss arising from the failure of a customer to meet its payment obligation - is carefully managed but as the bulk of the company's debtors are well established, financially sound companies, the directors believe that their risk in this area is low.

Key Performance Indicators The company uses various Key Performance Indicators(KPI's) of both a financial and non financial nature to measure its day to day operational activities and the longer term health of the business. When considering future outlook and the goals to be achieved, efforts are focused on those areas of greatest significance to the business. The company's main KPI's are turnover and gross profit which are detailed in the financial statements.

This report was approved by the board of directors on 9 September 2026 and signed on behalf of the board by:

Mr S Ofsarnie

Director

Trading address:

Unit D4

Moss Industrial Estate

St Helens Road

Leigh

Lancashire

WN7 3PT

Resapol Limited

Directors' Report

Year ended 31 December 2025

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

Principal activities

The principal activity of the company during the year was the sale and distribution of specialist construction products.

Directors

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

Mr L Phillips
Mr S Ofsarnie
Mr D Playfor

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Future developments

The directors anticipate the business environment will remain competitive. They believe that the company is in a good financial position and that the risks have been identified are being well managed. With careful focus on appropriate diversification and development of new products, as well as continuing review of the state of the market and the activities of competitors, the directors are confident in the company's ability to maintain and build on this position.

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 company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 9 September 2026 and signed on behalf of the board by:

Mr S Ofsarnie

Director

Trading address:

Unit D4

Moss Industrial Estate

St Helens Road

Leigh

Lancashire

WN7 3PT

Resapol Limited

Independent Auditor's Report to the Members of Resapol Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Resapol Limited (the 'company') for the year ended 31 December 2025 which comprise the income statement, statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 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; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 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: Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example forgery or by intentional misrepresentations, or through collusion. We focused on laws and regulations, relevant to the company, which could give rise to a material misstatement in the financial statements. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management, review of company minutes and legal expenses. There are inherent limitations in the audit procedures described and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As part of our audit we addressed the risk of management override of internal controls, including testing of journals and review nominal ledger. We evaluated whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. 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 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 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 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. 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.

Philip Martin

(Senior Statutory Auditor)

For and on behalf of

Philip Martin Limited

Chartered accountants & statutory auditor

Crown House

4 High Street

Tyldesley

Manchester

M29 8AL

9 September 2026

Resapol Limited

Income Statement

Year ended 31 December 2025

		2025	2024
Note		£	£
Turnover	4	25,074,614	20,435,304

Cost of sales	18,839,735	14,710,383
	-------------	-------------
Gross profit	6,234,879	5,724,921

Distribution costs		1,141,647	1,006,341
Administrative expenses		4,821,795	4,488,368
Other operating income	5	27,886	9,083
		------------	------------
Operating profit	6	299,323	239,295

Other interest receivable and similar income	9	37,721	16,749
Interest payable and similar expenses	10	8,453	6,698
		------------	------------
Profit before taxation		328,591	249,346

Tax on profit	11	93,131	65,355
		---------	---------
Profit for the financial year		235,460	183,991
		---------	---------

All the activities of the company are from continuing operations.

Resapol Limited

Statement of Income and Retained Earnings

Year ended 31 December 2025

		2025	2024
Note		£	£
Profit for the financial year and total comprehensive income		235,460	183,991
Dividends paid and payable	12	( 180,000)	–

Retained earnings at the start of the year	365,007	181,016
	---------	---------
Retained earnings at the end of the year	420,467	365,007
	---------	---------

Resapol Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	13	41,723	48,495
Tangible assets	14	177,357	183,981
		---------	---------
		219,080	232,476

Current assets

Stocks	15	1,494,749	1,123,863
Debtors	16	4,996,581	5,119,603
Cash at bank and in hand		92,300	225,541
		------------	------------
		6,583,630	6,469,007

Creditors: amounts falling due within one year	18	6,325,844		6,283,711
		------------		------------
Net current assets			257,786	185,296
			---------	---------
Total assets less current liabilities			476,866	417,772

Creditors: amounts falling due after more than one year	19		33,899	31,233

Provisions

Taxation including deferred tax	21	21,909	20,941
		---------	---------
Net assets		421,058	365,598
		---------	---------

Resapol Limited

Statement of Financial Position (continued)

31 December 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	25	591	591
Profit and loss account		420,467	365,007
		---------	---------
Shareholders funds		421,058	365,598
		---------	---------

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 9 September 2026 , and are signed on behalf of the board by:

Mr S Ofsarnie

Director

Company registration number: 3863571

Resapol Limited

Statement of Cash Flows

Year ended 31 December 2025

	2025	2024
Note	£	£

Cash flows from operating activities

Profit for the financial year	235,460	183,991

Adjustments for:
Depreciation of tangible assets	61,005	74,997
Amortisation of intangible assets	6,772	6,772
Other interest receivable and similar income	( 37,721)	( 16,749)
Interest payable and similar expenses	8,453	6,698
Gains on disposal of tangible assets	–	( 5,724)
Tax on profit	93,131	65,355
Accrued income	–	( 3,606)

Changes in:
Stocks	( 370,886)	( 227,035)
Trade and other debtors	123,022	( 659,721)
Trade and other creditors	285,495	52,124
	---------	---------
Cash generated from operations	404,731	( 522,898)

Interest paid	( 8,453)	( 6,698)
Interest received	37,721	16,749
Tax paid	( 148,936)	( 107,997)
	---------	---------
Net cash from/(used in) operating activities	285,063	( 620,844)
	---------	---------

Cash flows from investing activities

Purchase of tangible assets	( 54,381)	( 59,922)
Proceeds from sale of tangible assets	–	5,724
	---------	---------
Net cash used in investing activities	( 54,381)	( 54,198)
	---------	---------

Cash flows from financing activities

Payments of finance lease liabilities	( 18,803)	( 23,267)
Dividends paid	( 180,000)	–
	---------	---------
Net cash used in financing activities	( 198,803)	( 23,267)
	---------	---------

Net increase/(decrease) in cash and cash equivalents		31,879	( 698,309)
Cash and cash equivalents at beginning of year		(2,378,790)	(1,680,481)
		------------	------------
Cash and cash equivalents at end of year	17	( 2,346,911)	( 2,378,790)
		------------	------------

Resapol 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 Crown House, High Street, Tyldesley, Manchester, M29 8AL.

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.

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 There were no material 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. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There were no material 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.

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.

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.

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.

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	-	5% 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 & machinery	-	20% straight line
Motor vehicles	-	25% straight line

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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	25,074,614	20,435,304
	-------------	-------------

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

5. Other operating income

	2025	2024
	£	£
Other operating income	27,886	9,083
	--------	-------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Amortisation of intangible assets	6,772	6,772
Depreciation of tangible assets	61,005	74,997
Gains on disposal of tangible assets	–	( 5,724)
Impairment of trade debtors	5,403	–
	--------	--------

Fees payable for the audit of the financial statements 2024 - £10,750 (2022 £10,750)

7. Staff costs

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

	2025	2024
	No.	No.
Administrative staff	52	55
	----	----

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

	2025	2024
	£	£
Wages and salaries	2,310,412	2,166,195
Social security costs	292,205	238,399
Other pension costs	103,776	92,478
	------------	------------
	2,706,393	2,497,072
	------------	------------

8. Directors' remuneration

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

	2025	2024
	£	£
Remuneration	464,264	372,405
Company contributions to defined contribution pension plans	66,053	55,185
	---------	---------
	530,317	427,590
	---------	---------

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

	2025	2024
	No.	No.
Defined contribution plans	3	3
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	208,095	156,716
	---------	---------

9. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	37,721	16,749
	--------	--------

10. Interest payable and similar expenses

	2025	2024
	£	£
Interest on obligations under finance leases and hire purchase contracts	8,453	6,698
	-------	-------

11. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	92,163	64,115

Deferred tax:

Origination and reversal of timing differences	968	1,240
	--------	--------
Tax on profit	93,131	65,355
	--------	--------

Reconciliation of tax expense

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

	2025	2024
	£	£
Profit on ordinary activities before taxation	328,591	249,346
	---------	---------
Profit on ordinary activities by rate of tax	82,148	62,337
Effect of expenses not deductible for tax purposes	25,913	31,272
Effect of capital allowances and depreciation	( 15,898)	( 19,149)
Utilisation of tax losses	–	( 10,345)
Deferred taxation	968	1,240
	---------	---------
Tax on profit	93,131	65,355
	---------	---------

12. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	180,000	–
	---------	----

13. Intangible assets

	Goodwill
	£
Cost
At 1 January 2025 and 31 December 2025	135,444
	---------
Amortisation
At 1 January 2025	86,949
Charge for the year	6,772
	---------
At 31 December 2025	93,721
	---------
Carrying amount
At 31 December 2025	41,723
	---------
At 31 December 2024	48,495
	---------

14. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2025	1,536,405	304,291	1,840,696
Additions	54,381	–	54,381
	------------	---------	------------
At 31 December 2025	1,590,786	304,291	1,895,077
	------------	---------	------------
Depreciation
At 1 January 2025	1,410,058	246,657	1,656,715
Charge for the year	42,360	18,645	61,005
	------------	---------	------------
At 31 December 2025	1,452,418	265,302	1,717,720
	------------	---------	------------
Carrying amount
At 31 December 2025	138,368	38,989	177,357
	------------	---------	------------
At 31 December 2024	126,347	57,634	183,981
	------------	---------	------------

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:

	Plant and machinery
	£
At 31 December 2025	83,329
	--------
At 31 December 2024	146,167
	---------

15. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	1,494,749	1,123,863
	------------	------------

16. Debtors

	2025	2024
	£	£
Trade debtors	2,674,443	3,116,226
Directors loan account	498,842	625,137
Other debtors	1,823,296	1,378,240
	------------	------------
	4,996,581	5,119,603
	------------	------------

Included within other debtors is an amount of £132,352(2024 £150,400) owed by Leads Oil & Grease Co Ltd, a company which is controlled by the directors of the company. Interest is charged on the directors loan account at the official rate of interest. The amount outstanding is the maximum outstanding during the year and is repayable on demand.

17. Cash and cash equivalents

Cash and cash equivalents comprise the following:

	2025	2024
	£	£
Cash at bank and in hand	92,300	225,541
Bank overdrafts	( 2,439,211)	( 2,604,331)
	------------	------------
	( 2,346,911)	( 2,378,790)
	------------	------------

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,439,211	2,604,331
Trade creditors	3,210,920	3,173,465
Corporation tax	153,827	210,600
Social security and other taxes	338,137	211,935
Obligations under finance leases and hire purchase contracts	26,255	47,724
Other creditors	157,494	35,656
	------------	------------
	6,325,844	6,283,711
	------------	------------

The bank facility is secured by a fixed and floating charge over all property and assets, present and future in relation to the invoice finance facility of the company. The hire purchase agreements are secured against the assets to which they relate.

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

	2025	2024
	£	£
Obligations under finance leases and hire purchase contracts	33,899	31,233
	--------	--------

20. Finance leases and hire purchase contracts

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

	2025	2024
	£	£
Not later than 1 year	26,255	47,724
Later than 1 year and not later than 5 years	33,899	31,233
	--------	--------
	60,154	78,957
	--------	--------

21. Provisions

	Deferred tax (note 22)
	£
At 1 January 2025	20,941
Additions	968
	--------
At 31 December 2025	21,909
	--------

22. Deferred tax

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

	2025	2024
	£	£
Included in provisions (note 21)	21,909	20,941
	--------	--------

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

	2025	2024
	£	£
Accelerated capital allowances	21,909	20,941
	--------	--------

23. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 37,723 (2024: £ 37,293 ).

24. 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 Basic financial assets, which include debtors and cash 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 constitues 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 oneyear are not amortised. Other financial assets 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 the profit and loss account, except investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. Impairment of financial assets 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 and loss. If there is a decrease in the impairment loss arising from an event occuring 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. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Classification of financial liabilities 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 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. Accounts 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. Derecognition of financial liabilities Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

25. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	5,000	5,000	5,000	5,000
Class AA to AD shares of £ 1 each	500	500	500	500
Class AF to BW shares of £ 1 each	4,500	4,500	4,500	4,500
	--------	--------	--------	--------
	10,000	10,000	10,000	10,000
	--------	--------	--------	--------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	91	91	91	91
Class AA to AD shares of £ 1 each	500	500	500	500
	----	----	----	----
	591	591	591	591
	----	----	----	----

26. Analysis of changes in net debt

	At 1 Jan 2025	Cash flows	At 31 Dec 2025
	£	£	£
Cash at bank and in hand	225,541	(133,241)	92,300
Bank overdrafts	(2,604,331)	165,120	(2,439,211)
Debt due within one year	(47,724)	21,469	(26,255)
Debt due after one year	(31,233)	(2,666)	(33,899)
	------------	---------	------------
	( 2,457,747)	50,682	( 2,407,065)
	------------	---------	------------

27. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	29,878	4,716
Later than 1 year and not later than 5 years	645,245	591,822
	---------	---------
	675,123	596,538
	---------	---------

28. Directors' advances, credits and guarantees

Included within debtors is an amount of £498842 (2024 £625137) owed by the directors of the company.The maximum amount owed was also the amount outstanding at the year end. Interest is charged at the official rate of interest.

29. Controlling party

The company was under the control of the directors during the year.