REGISTERED NUMBER: 01952599 (England and Wales)

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31st December 2025

for

HULTAFORS GROUP UK LIMITED

Page

Company Information

1

Strategic Report

2

Directors' Report

4

Independent Auditors' Report

7

Statement of Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

Mr P E W Widen

Mr D Macken

Mr J F Heyman

REGISTERED OFFICE:

Unit N3 Gate 4

Meltham Mills Industrial Estate

Meltham

Holmfirth

West Yorkshire

HD9 4DS

REGISTERED NUMBER:

01952599 (England and Wales)

AUDITORS:

Sedulo Audit Limited

Statutory Auditors

St. Paul's House

23 Park Square

Leeds

LS1 2ND

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

REVIEW OF THE BUSINESS

The Company distributes workwear, tools and related products within the United Kingdom. The Company operates as a wholly owned subsidiary within an international group and continues to source the majority of its products from its immediate parent undertaking.

Turnover for the year increased to £17,083,312 (2024: £16,555,634), representing growth of 3.2% compared to the prior year. Gross profit increased to £5,427,475 (2024: £5,248,305), with gross margins remaining consistent year-on-year.

Operating profit for the year was £1,210,775 (2024: £805,944), reflecting improved operational efficiency. This increase was primarily driven by a reduction in distribution costs and a significant decrease in intra-group charges compared with the prior year, partially offset by increased marketing expenditure.

Profit before taxation increased to £1,324,621 (2024: £939,493), and profit after taxation was £993,441 (2024: £703,451).

FUTURE DEVELOPMENTS

The Directors expect the Company to continue to operate profitably and generate positive cash flows in the forthcoming financial year, supported by its established position in the UK market and its integration within the wider group.

The Company will continue to focus on growing revenue through strengthening customer relationships, expanding its product offering, and targeted marketing initiatives. Ongoing attention will also be given to maintaining gross margins and improving operational efficiency through effective cost control and supply chain management.

As part of the wider group, the Company will continue to leverage group resources, including procurement and product development capabilities, to support its competitive position in the UK market.

While the external environment remains subject to economic uncertainty, including inflationary pressures and cost increases, the Directors believe the Company is well positioned to respond to these challenges.

Overall, the Directors remain confident in the Company’s ability to deliver sustainable performance.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the Company are as follows:

Dependence on group undertakings: The Company relies on its parent undertaking for the supply of goods and certain services. Changes in group strategy, pricing, or supply arrangements could impact performance.

Credit risk: The Company is exposed to credit risk in respect of its trade debtors. This risk is managed through ongoing monitoring and credit control procedures.

Cost inflation: The Company is exposed to increases in operating costs, including logistics, marketing, and overheads, which may impact profitability if not mitigated.

Dividend policy and capital management: The Company has paid dividends in excess of current year profits, which has reduced retained earnings. Continued distributions at this level may impact future financial flexibility.

The Directors monitor these risks on an ongoing basis and implement appropriate mitigation strategies where necessary.

KEY PERFORMANCE INDICATORS (KPI'S)

The Directors use a range of financial key performance indicators to monitor the performance of the Company, including:

Turnover growth: 3.2% (2024: 6.3%)

Gross profit margin: 31.8% (2024: 31.7%)

Operating profit margin: 7.1% (2024: 4.9%)

Net profit margin: 5.8% (2024: 4.3%)

The improvement in operating and net margins reflects enhanced cost control and operational efficiencies during the year.

The directors and finance team also continue to monitor KPI's for individual brands within the company on a monthly and annual basis to avoid any deterioration in profit.

ON BEHALF OF THE BOARD:

Director

1st April 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale of specialist clothing and related equipment.

DIVIDENDS

During the year to 31st December 2025 the Company declared, and paid, dividends totalling £1,300,000, which is recognised in the Financial Statements.

In 2024, dividends totalling £1,300,000 were also paid, of which £600,000 was agreed and reported as a liability in 2023. The remaining £700,000 was recognised in 2024, the year in which it was declared and paid.

Subsequent dividends have been included in post balance sheet events (see note 18).

RESEARCH AND DEVELOPMENT

The Company does not undertake research and development activities and, accordingly, no such costs were incurred during the years ended 31 December 2024 or 31 December 2025.

FUTURE DEVELOPMENTS

A comprehensive analysis of the company’s future developments has been presented in the Strategic Report.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

Mr P E W Widen

Mr D Macken

Other changes in directors holding office are as follows:

Mr J Eriksson Wibring - resigned 1st March 2025

Mr J F Heyman - appointed 1st March 2025

Director's indemnities

The company has not made qualifying third party indemnity provisions for the benefit of its directors in the year.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company’s activities expose it to a variety of financial risks, including credit risk, liquidity risk and cash flow risk. The Directors have established policies to manage these risks as set out below.

Cash flow risk

The Company maintains significant cash reserves and funds on deposit to mitigate short-term cash flow risks. The Company is not exposed to foreign currency risk, as all transactions are denominated in sterling. Lease commitments and interest-bearing assets are held at fixed rates to provide certainty over cash flows.

Credit risk

The Company’s principal financial assets comprise cash at bank and trade and other receivables. Credit risk primarily arises from trade receivables. Balances are stated net of provisions for doubtful debts.

The Company does not have a significant concentration of credit risk, with exposure spread across a large number of customers who are subject to credit evaluation procedures and, where appropriate, credit insurance.

Liquidity risk

The Company manages liquidity risk by maintaining sufficient cash reserves and access to funds to meet its liabilities as they fall due. Funds are held in readily accessible accounts, and dividends to the parent undertaking are paid only from surplus cash resources.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the 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 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 OF DISCLOSURE OF INFORMATION TO INDEPENDENT AUDITORS

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 auditors are 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 auditors are aware of that information.

AUDITORS

Sedulo Audit Limited will be proposed for re-appointment in accordance with the provisions of the Companies Act 2006.

ON BEHALF OF THE BOARD:

Mr D Macken - Director

1st April 2026

Opinion

We have audited the financial statements of Hultafors Group UK Limited (the 'company') for the year ended 31st December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 31st 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 Directors' Report, but does not include the financial statements and our Auditors' Report 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 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 Statement of Directors' Responsibilities set out on page five, 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 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

1) we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the manufacturing and supply sector;

2) we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;

3) we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

4) identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

1) making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

2) considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

1) performed analytical procedures to identify any unusual or unexpected relationships;

2) tested journal entries selected on a risk criteria basis to identify unusual transactions; and

3) investigated the rationale behind significant or unusual transactions; and

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

1) agreeing financial statement disclosures to underlying supporting documentation;

2) reading the minutes of meetings of those charged with governance;

3) enquiring of management as to any actual and potential litigation and claims.

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 is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 Auditors' Report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' 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.

Sam Perkin (Senior Statutory Auditor)

for and on behalf of Sedulo Audit Limited

Statutory Auditors

St. Paul's House

23 Park Square

Leeds

LS1 2ND

1st April 2026

TURNOVER

3

17,083,312

16,555,634

Cost of sales

11,655,837

11,307,329

GROSS PROFIT

5,427,475

5,248,305

Distribution costs

4,319,096

4,444,825

1,108,379

803,480

Other operating income

102,396

2,464

OPERATING PROFIT

5

1,210,775

805,944

Interest receivable and similar income

113,846

134,025

1,324,621

939,969

Interest payable and similar expenses

7

-

476

PROFIT BEFORE TAXATION

1,324,621

939,493

Tax on profit

8

331,180

236,042

PROFIT FOR THE FINANCIAL YEAR

993,441

703,451

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

993,441

703,451

FIXED ASSETS

Tangible assets

10

17,942

23,923

Investments

11

2

2

17,944

23,925

CURRENT ASSETS

Stocks

12

213,789

416,353

Debtors

13

3,199,360

3,190,829

Cash at bank and in hand

2,431,364

2,604,676

5,844,513

6,211,858

CREDITORS

Amounts falling due within one year

14

2,914,895

2,981,662

NET CURRENT ASSETS

2,929,618

3,230,196

TOTAL ASSETS LESS CURRENT LIABILITIES

2,947,562

3,254,121

CAPITAL AND RESERVES

Called up share capital

16

100,000

100,000

Retained earnings

2,847,562

3,154,121

SHAREHOLDERS' FUNDS

2,947,562

3,254,121

The financial statements were approved by the Board of Directors and authorised for issue on 1st April 2026 and were signed on its behalf by:

Mr D Macken - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st January 2024

100,000

3,150,670

3,250,670

Changes in equity

Dividends

-

(700,000

)

(700,000

)

Total comprehensive income

-

703,451

703,451

Balance at 31st December 2024

100,000

3,154,121

3,254,121

Changes in equity

Dividends

-

(1,300,000

)

(1,300,000

)

Total comprehensive income

-

993,441

993,441

Balance at 31st December 2025

100,000

2,847,562

2,947,562

1.	STATUTORY INFORMATION

Hultafors Group UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The company is itself a subsidiary company and is exempt from the requirement to prepare group accounts by virtue of section 401 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Going concern

Management has produced budgets and forecasts that have been reviewed by the directors. These demonstrate the Company is forecast to generate both profits and positive cash flow moving forward. The Company also has sufficient cash reserves to meet its obligations as they fall due.

Accordingly, having considered the projections produced, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are sometimes required to make judgements, estimates and assumptions, about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

The directors do not feel that as a result of any of the judgements or estimates made, there is a significant risk of material adjustment to the carrying amounts of assets and liabilities within the next financial year

Turnover

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 delivery, when the level of income received or to be received can be measured reliably.

Tangible fixed assets

Tangible fixed assets are recognised on the balance sheet at different stages of completion. Once legal title has passed to the Company in full depreciation is provided for at the following rates: -

Motor Vehicles - 25% Reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Values includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors, creditors, bank balances, and loans to related parties.

Basic financial assets (other than those classified as receivable within one year) are initially measured at cost, and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses.

Basic financial assets classified as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially recognised at present value of future cash flows and subsequently at amortised costs using the effective interest method. Basic financial liabilities classified as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amounts reported 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement.

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.

Deferred tax assets are recognised to the extent that it is probable that they will be recovered against future 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.

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 and amounted to £27,208 (2024 : £34,936).

3.

TURNOVER

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

4.	EMPLOYEES AND DIRECTORS

Staff costs were as follows:

31/12/25

31/12/24

£

£

Wages and salaries

1,133,022

1,065,698

Social security costs

138,326

128,228

Pension contributions to money purchase schemes

27,208

27,459

1,298,556

1,221,385

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

31/12/25

31/12/24

Sales and administration

26

28

Directors

3

3

29

31

31/12/25

31/12/24

Directors' remuneration

-

34,866

Directors' pension contributions to money purchase schemes

-

7,477

Remuneration for UK-based directors is disclosed above. The company has not had any UK-based directors since April 2024.

During the year to 31st December 2025, the company had only non-UK-based directors and continues to do so at the reporting date.

The emoluments of the non-UK-based directors are paid by other group undertakings, and no remuneration has been charged to the company in respect of their services.

5.	OPERATING PROFIT

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

31/12/25

31/12/24

£

£

Other operating leases

79,336

75,796

Depreciation - owned assets

5,981

7,975

Foreign exchange differences

9,664

(2,464

)

Leasing of motor vehicles

116,414

149,005

6.	AUDITORS' REMUNERATION

Auditors remuneration for the year was £19,950 (2024 £19,000).

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31/12/25

31/12/24

£

£

Other interest payable

-

476

8.

TAXATION

Analysis of the tax charge

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

31/12/25

31/12/24

£

£

Current tax:

UK corporation tax

327,516

231,744

Deferred tax

3,664

4,298

Tax on profit

331,180

236,042

UK corporation tax has been charged at 25% (2024 - 25%).

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:

31/12/25

31/12/24

£

£

Profit before tax

1,324,621

939,493

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

331,155

234,873

Effects of:

Expenses not deductible for tax purposes

25

1,169

Capital allowances in excess of depreciation

(3,664

)

(4,298

)

Deferred tax provision

3,664

4,298

Total tax charge

331,180

236,042

9.

DIVIDENDS

31/12/25

31/12/24

£

£

Ordinary A shares shares of £1 each

Final

1,300,000

700,000

10.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1st January 2025

and 31st December 2025

93,059

DEPRECIATION

At 1st January 2025

69,136

Charge for year

5,981

At 31st December 2025

75,117

NET BOOK VALUE

At 31st December 2025

17,942

At 31st December 2024

23,923

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2025

and 31st December 2025

2

NET BOOK VALUE

At 31st December 2025

2

At 31st December 2024

2

(a) The directors believe that the carrying value of the investments is supported by their underlying net assets.

(b) All the subsidiary companies are dormant.

Investments in group undertakings

Subsidiary Undertaking

Registered office

Class of share

% of shares held

Snickers Original Limited

Unit N3 Gate 4, Meltham Mills Ind.Estate, HD9 4DS, England

Ordinary

100

Snickers Workwear Limited

Unit N3 Gate 4, Meltham Mills Ind.Estate, HD9 4DS, England

Ordinary

100

12.

STOCKS

31/12/25

31/12/24

£

£

Stocks

213,789

416,353

Stock, recognised in cost of sales during the year as an expense was £10,576,494 (2024 £10,334,886).

13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade debtors

3,138,399

3,085,651

Deferred tax

19,019

22,683

Prepayments

41,942

82,495

3,199,360

3,190,829

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade creditors

226,921

218,544

Amounts owed to group undertakings

-

44,598

Corporation tax

327,516

231,744

Social security and other taxes

30,927

23,338

VAT

241,346

156,718

Amounts owed to parent company

(note 17)

1,414,427

1,513,481

Accrued expenses

673,758

793,239

2,914,895

2,981,662

Amounts owed to group undertakings represent trade creditor balances from other companies within the group. These balances are due under normal trade conditions.

15.	LEASING AGREEMENTS

The company has operating lease commitments at the balance sheet date as follows: -

31/12/25

31/12/24

Due within

Due 2-5

Due within

Due 2-5

1 year

years

1 year

years

Land and property

47,000

11,750

47,000

58,750

Other

92,666

36,267

124,013

124,855

Total

139,666

48,017

171,013

183,605