REGISTERED NUMBER: SC023799 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 January 2026

for

Tom Hannah (Agencies) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

DIRECTORS:

TC Munro

Mrs CMS Munro

SECRETARY:

Mrs CMS Munro

REGISTERED OFFICE:

Tom Hannah House

Walkinshaw Street

Johnstone

Renfrewshire

PA5 8AB

REGISTERED NUMBER:

SC023799 (Scotland)

AUDITORS:

Messrs. Henderson & Company

Chartered Accountants

Statutory Auditor

73 Union Street

Greenock

PA16 8BG

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

REVIEW OF BUSINESS

Overall turnover was within 1% of the prior - year figure; however, demand for our manufactured products again achieved double-digit growth, accompanied by a further significant increase in exports.

Raw material, packaging and energy costs have remained stubbornly high and show no signs of easing.

Despite these ongoing challenges the directors are pleased with the result.

PRINCIPAL RISKS AND UNCERTAINTIES

Rising labour rates and increased employer National Insurance contributions continue to place significant pressure on the company's costs and, consequently, on trade and retail prices.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors monitor the following KPI's on an ongoing basis: sales, cost/efficiency and margins.

ENVIRONMENTAL MATTERS

We continue to monitor our environmental impact and energy consumption.

The company remains a full member of the RSPO (Roundtable for Sustainable Palm Oil) and continues to source only sustainable palm oil for its products. The company fully supports the deforestation regulations due to come into force at the end of 2026 but anticipates that compliance will result in higher input costs.

FINANCIAL INSTRUMENTS

The company has a normal level of exposure to price, credit, liquidity and cashflow risks arising from trading activities.

ON BEHALF OF THE BOARD:

TC Munro - Director

11 September 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of confectionery manufacturers' agents, confectionery wholesalers, manufacturers and exporters.

DIVIDENDS

During the year ended 31 January 2026 the company paid dividends totalling £371,250 (2025 - £330,000).

FUTURE DEVELOPMENTS

We continue to work closely with our import suppliers to develop unique lines for the UK market Whilst at the same time growing the Hannah's brand through innovative packs and promotional activity.

The directors foresee a reasonable result for the current year.

DIRECTORS

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

TC Munro

Mrs CMS Munro

Other changes in directors holding office are as follows:

KD Munro ceased to be a director after 31 January 2026 but prior to the date of this report.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Messrs. Henderson & Company, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

TC Munro - Director

11 September 2026

Opinion

We have audited the financial statements of Tom Hannah (Agencies) Limited (the 'company') for the year ended 31 January 2026 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 January 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

In identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the nature of the company and the industry and the company's control environment. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation of the company such as the Companies Act 2006, taxation legislation, food safety and health and safety legislation. We assessed the extent of compliance with laws and regulations identified through making enquiries of management, inspecting legal correspondence and correspondence with HMRC.

We considered management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management bias and override of controls. To address these risks we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions and assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias. We reviewed financial statement disclosures and tested balances to supporting documentation.

Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance through out the audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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.

John Henderson (Senior Statutory Auditor)

for and on behalf of Messrs. Henderson & Company

Chartered Accountants

Statutory Auditor

73 Union Street

Greenock

PA16 8BG

11 September 2026

TURNOVER

3

11,921,297

12,044,653

Cost of sales

8,739,421

8,728,739

GROSS PROFIT

3,181,876

3,315,914

Distribution costs

1,011,156

928,866

Administrative expenses

1,737,050

1,579,105

2,748,206

2,507,971

OPERATING PROFIT

5

433,670

807,943

Interest receivable and similar income

1,374

2,942

PROFIT BEFORE TAXATION

435,044

810,885

Tax on profit

6

131,808

207,576

PROFIT FOR THE FINANCIAL YEAR

303,236

603,309

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

303,236

603,309

FIXED ASSETS

Tangible assets

8

923,061

991,589

CURRENT ASSETS

Stocks

9

1,254,097

1,560,008

Debtors

10

1,326,005

1,192,121

Cash at bank

869,069

601,392

3,449,171

3,353,521

CREDITORS

Amounts falling due within one year

11

1,671,634

1,566,044

NET CURRENT ASSETS

1,777,537

1,787,477

TOTAL ASSETS LESS CURRENT LIABILITIES

2,700,598

2,779,066

PROVISIONS FOR LIABILITIES

13

(88,501

)

(98,663

)

ACCRUALS AND DEFERRED INCOME

14

(895

)

(1,187

)

NET ASSETS

2,611,202

2,679,216

CAPITAL AND RESERVES

Called up share capital

15

1,650

1,650

Retained earnings

16

2,609,552

2,677,566

SHAREHOLDERS' FUNDS

2,611,202

2,679,216

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2026 and were signed on its behalf by:

TC Munro - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2024

1,650

2,404,257

2,405,907

Changes in equity

Dividends

-

(330,000

)

(330,000

)

Total comprehensive income

-

603,309

603,309

Balance at 31 January 2025

1,650

2,677,566

2,679,216

Changes in equity

Dividends

-

(371,250

)

(371,250

)

Total comprehensive income

-

303,236

303,236

Balance at 31 January 2026

1,650

2,609,552

2,611,202

Cash flows from operating activities

Cash generated from operations

1

874,027

606,661

Tax paid

(182,818

)

(232,654

)

Net cash from operating activities

691,209

374,007

Cash flows from investing activities

Purchase of tangible fixed assets

(53,656

)

(209,961

)

Sale of tangible fixed assets

-

6,329

Interest received

1,374

2,942

Net cash from investing activities

(52,282

)

(200,690

)

Cash flows from financing activities

Equity dividends paid

(371,250

)

(330,000

)

Net cash from financing activities

(371,250

)

(330,000

)

Increase/(decrease) in cash and cash equivalents

267,677

(156,683

)

Cash and cash equivalents at beginning of year

2

601,392

758,075

Cash and cash equivalents at end of year

2

869,069

601,392

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2026

2025

£

£

Profit before taxation

435,044

810,885

Depreciation charges

122,184

117,685

Loss on disposal of fixed assets

-

429

Finance income

(1,374

)

(2,942

)

555,854

926,057

Decrease/(increase) in stocks

305,911

(352,633

)

(Increase)/decrease in trade and other debtors

(133,884

)

13,492

Increase in trade and other creditors

146,146

19,745

Cash generated from operations

874,027

606,661

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 January 2026

31.1.26

1.2.25

£

£

Cash and cash equivalents

869,069

601,392

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

601,392

758,075

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.25

Cash flow

At 31.1.26

£

£

£

Net cash

Cash at bank

601,392

267,677

869,069

601,392

267,677

869,069

Total

601,392

267,677

869,069

1.	STATUTORY INFORMATION

Tom Hannah (Agencies) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared under the historical cost convention and in accordance with the accounting policies set out below.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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 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.

Tangible fixed assets

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful lives as follows:

Freehold Property - 2% straight line

Plant and Machinery - 10% straight line

Fixtures and Fittings - 15% straight line

Motor Vehicles - 20% straight line

Computer Equipment - 20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of significant change since the last reporting date.

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amounts of any write downs to stock to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs.

The cost of goods manufactured by the company is the cost of labour and materials plus an appropriate allocation of overheads.

Taxation

The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Foreign currencies

Foreign currency transactions are translated into functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction.

Foreign exchange gains and losses resulting from the settlement of transactions and from translation of period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. The assets of the plan are held separately from the company in independently administered funds.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as an interest expense.

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:

2026

2025

£

£

United Kingdom

9,944,641

10,888,905

Rest of the world

1,976,656

1,155,748

11,921,297

12,044,653

4.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

1,889,023

1,783,901

Social security costs

205,884

169,561

Other pension costs

29,564

28,060

2,124,471

1,981,522

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

2026

2025

Directors

3

3

Administration

7

7

Manufacturing

35

31

Distribution and Marketing

2

2

47

43

2026

2025

£

£

Directors' remuneration

434,909

456,835

Directors' pension contributions to money purchase schemes

3,242

3,242

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2026

2025

£

£

Emoluments etc

181,179

179,600

Pension contributions to money purchase schemes

1,921

1,921

5.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Depreciation - owned assets

122,184

117,685

Loss on disposal of fixed assets

-

429

Auditors' remuneration

13,250

12,250

Accountancy Fees

13,250

13,500

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2026

2025

£

£

Current tax:

UK corporation tax

141,970

182,818

Deferred tax

(10,162

)

24,758

Tax on profit

131,808

207,576

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2026

2025

£

£

Profit before tax

435,044

810,885

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

108,761

202,721

Effects of:

Expenses not deductible for tax purposes

18,688

603

Capital allowances in excess of depreciation

-

(20,506

)

Depreciation in excess of capital allowances

14,521

-

tax during year

Deferred tax

(10,162

)

24,758

Total tax charge

131,808

207,576

7.

DIVIDENDS

2026

2025

£

£

Ordinary shares shares of £1 each

Final

371,250

330,000

8.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 February 2025

904,901

2,504,376

226,003

Additions

-

50,473

3,183

At 31 January 2026

904,901

2,554,849

229,186

DEPRECIATION

At 1 February 2025

436,996

2,076,102

209,884

Charge for year

17,730

77,340

3,895

At 31 January 2026

454,726

2,153,442

213,779

NET BOOK VALUE

At 31 January 2026

450,175

401,407

15,407

At 31 January 2025

467,905

428,274

16,119

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2025

149,600

221,483

4,006,363

Additions

-

-

53,656

At 31 January 2026

149,600

221,483

4,060,019

DEPRECIATION

At 1 February 2025

96,739

195,053

3,014,774

Charge for year

14,926

8,293

122,184

At 31 January 2026

111,665

203,346

3,136,958

NET BOOK VALUE

At 31 January 2026

37,935

18,137

923,061

At 31 January 2025

52,861

26,430

991,589