Subframes UK Limited 31/12/2025 iXBRL

Company registration number: 04633151

Subframes UK Limited

Financial statements

31 December 2025

Subframes UK Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Statement of cash flows

Notes to the financial statements

Subframes UK Limited

Directors and other information


Directors
	Mrs Jayne Ryde
	Mr Sean Edward Rice	(Resigned 12 December 2025)
	Mr Ian Arthur Webb	(Resigned 12 December 2025)


Company number	04633151


Registered office	2-4 Sawpit Industrial Estate
	Tibshelf
	Alfreton
	Derbyshire
	DE55 5NH


Business address	2-4 Sawpit Industrial Estate
	Tibshelf
	Alfreton
	Derbyshire
	DE55 5NH


Auditor	Ormerod Rutter
	The Oakley
	Kidderminster Road
	Droitwich
	Worcestershire
	WR9 9AY


Accountants	IAW Accountancy Services
	Grosvenor House
	1 New Road
	Brixham
	Devon
	TQ5 8LZ




	Bankers	Lloyds PLC
		1 - 3 Church Street
		Mansfield
		Nottinghamshire
		NG18 1AF

Subframes UK Limited

Strategic report

Year ended 31 December 2025

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

Fair review of the business

During the year the company was the subject of a management buyout by the managing director Jayne Ryde using a holding company structure. For eight years until the date of the buyout on 12th December 2025 the company was in the majority ownership of Pentwin Group Ltd. Following the death of the Pentwin Group's owner and sole shareholder in May 2024, the managing director and founder of the company has now regained control of it in a deal funded by external borrowing, which will give her the commercial freedom to implement her strategic plans for the future of the business.

As part of the restructuring the company has made a loan to its new parent company and this accounts for the decline in net assets of the company to £2.7m (2024: £3.1m), with net assets of £1.6m (2024: nil) reported in the holding company.

Principal risks and uncertainties

The director considers that the principal risks and uncertainties facing the business relate to general economic conditions and fluctuations in the housebuilding sector. However despite reported weakness in that sector in 2025 and early 2026, sales growth has continued to be strong and the company has benefitted winning new contracts where its ability to benefit from economies of scale have given it an advantage over previous incumbents. Management are confident of the continued profitability of the business and of its ability to meet its financial obligations to its external lenders.

Key performance indicators

The company's turnover for 2025 stood at £15.8m (2024: £14.9m) , a 6% increase on the previous year with gross margins showing a modest improvement at 29.5% (2024: 28.9%) and operating profit of £1.82m (2024:1.69m) with operating margins consistent with the previous year at 11.5% (2024: 11.4%)

This report was approved by the board of directors on 21 September 2026 and signed on behalf of the board by:

Mrs Jayne Ryde

Director

Subframes UK 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.

Directors

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


Mrs Jayne Ryde
Mr Sean Edward Rice				(Resigned 12 December 2025)
Mr Ian Arthur Webb				(Resigned 12 December 2025)

Dividends

Particulars of recommended dividends are detailed in note 11 to the financial statements.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the 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; and

- 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.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 21 September 2026 and signed on behalf of the board by:

Mrs Jayne Ryde

Director

Subframes UK Limited

Independent auditor's report to the members of

Subframes UK Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Subframes UK Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows 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 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; 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 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 has 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 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 the 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: 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 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.

Colm McGrory (Senior Statutory Auditor)

For and on behalf of

Ormerod Rutter

Chartered Accountants and Statutory Auditor

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

21 September 2026

Subframes UK Limited

Statement of comprehensive income

Year ended 31 December 2025

		2025	2024
	Note	£	£


Turnover	4	15,871,339	14,875,474
Cost of sales		( 11,185,542)	( 10,578,606)
		_______	_______
Gross profit		4,685,797	4,296,868

Administrative expenses		( 2,864,515)	( 2,607,211)
		_______	_______
Operating profit	5	1,821,282	1,689,657

Other interest receivable and similar income	8	44,270	48,531
Interest payable and similar expenses	9	( 374,481)	( 7,069)

		_______	_______
Profit before taxation		1,491,071	1,731,119

Tax on profit	10	( 456,426)	( 440,282)

		_______	_______
Profit for the financial year and total comprehensive income		1,034,645	1,290,837
		_______	_______

All the activities of the company are from continuing operations.

Subframes UK Limited

Statement of financial position

31 December 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	12	1,052,258		1,161,485
		_______		_______
			1,052,258		1,161,485

Current assets
Stocks	13	297,768		301,761
Debtors	14	5,944,763		2,770,235
Cash at bank and in hand		1,268,912		1,484,731
		_______		_______
		7,511,443		4,556,727
Creditors: amounts falling due
within one year	15	( 2,255,078)		( 2,470,689)
		_______		_______
Net current assets			5,256,365		2,086,038
			_______		_______
Total assets less current liabilities			6,308,623		3,247,523

Creditors: amounts falling due
after more than one year	16		( 3,549,127)		-

Provisions for liabilities	18		( 96,412)		( 119,084)

			_______		_______
Net assets			2,663,084		3,128,439
			_______		_______

Capital and reserves
Called up share capital	21		10		10
Profit and loss account	22		2,663,074		3,128,429
			_______		_______
Shareholders funds			2,663,084		3,128,439
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 21 September 2026 , and are signed on behalf of the board by:

Mrs Jayne Ryde

Director

Company registration number: 04633151

Subframes UK Limited

Statement of changes in equity

Year ended 31 December 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 January 2024	10	2,687,592	2,687,602

Profit for the year		1,290,837	1,290,837
	_______	_______	_______
Total comprehensive income for the year	-	1,290,837	1,290,837

Dividends paid and payable		( 850,000)	( 850,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 850,000)	( 850,000)

	_______	_______	_______
At 31 December 2024 and 1 January 2025	10	3,128,429	3,128,439

Profit for the year		1,034,645	1,034,645
	_______	_______	_______
Total comprehensive income for the year	-	1,034,645	1,034,645

Dividends paid and payable		( 1,500,000)	( 1,500,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 1,500,000)	( 1,500,000)

	_______	_______	_______
At 31 December 2025	10	2,663,074	2,663,084
	_______	_______	_______

Subframes UK Limited

Statement of cash flows

Year ended 31 December 2025

	2025	2024
	£	£

Cash flows from operating activities
Profit for the financial year	1,034,645	1,290,837

Adjustments for:
Depreciation of tangible assets	120,822	105,806
Other interest receivable and similar income	( 44,270)	( 48,531)
Interest payable and similar expenses	374,481	7,069
Gain/(loss) on disposal of tangible assets	6,215	22,289
Tax on profit	456,426	440,282
Accrued expenses/(income)	55,672	22,383

Changes in:
Stocks	3,993	76,471
Trade and other debtors	( 3,174,528)	( 840,122)
Trade and other creditors	( 260,045)	538,083
	_______	_______
Cash generated from operations	( 1,426,589)	1,614,567

Interest paid	( 374,481)	( 7,069)
Interest received	44,270	48,531
Tax paid	( 490,336)	( 79,151)
	_______	_______
Net cash (used in)/from operating activities	( 2,247,136)	1,576,878
	_______	_______

Cash flows from investing activities
Purchase of tangible assets	( 18,560)	( 270,448)
Proceeds from sale of tangible assets	750	-
	_______	_______
Net cash used in investing activities	( 17,810)	( 270,448)
	_______	_______

Cash flows from financing activities
Proceeds from borrowings	3,549,127	-
Equity dividends paid	( 1,500,000)	( 850,000)
	_______	_______
Net cash from/(used in) financing activities	2,049,127	( 850,000)
	_______	_______

Net increase/(decrease) in cash and cash equivalents	( 215,819)	456,430
Cash and cash equivalents at beginning of year	1,484,731	1,028,301
	_______	_______
Cash and cash equivalents at end of year	1,268,912	1,484,731
	_______	_______

Subframes UK 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 2-4 Sawpit Industrial Estate, Tibshelf, Alfreton, Derbyshire, DE55 5NH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and 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

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Freehold property	-	2 %	straight line
Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

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

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

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 stocks to their present location and condition.

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 in finance costs in profit or loss in the period it arises.

Financial instruments

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

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

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

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	15,871,339	14,875,474
	_______	_______

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

5. Operating profit

Operating profit is stated after charging/(crediting):

		2025	2024
		£	£
Depreciation of tangible assets		120,822	105,806
Impairment of tangible assets recognised in:
	Administrative costs	1,545	-
(Gain)/loss on disposal of tangible assets		6,215	22,289
Impairment of trade debtors		4,547	15,250
Fees payable for the audit of the financial statements		10,000	-
		_______	_______

6. Staff costs

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

	2025	2024
Production staff	56	55
Administrative staff	27	27
Director	1	1
	_______	_______
	84	83
	_______	_______

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	3,692,185	3,322,638
Other pension costs	54,636	48,602
	_______	_______
	3,746,821	3,371,240
	_______	_______

7. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	161,011	100,000
	_______	_______

8. Other interest receivable and similar income

	2025	2024
	£	£
Bank deposits	44,270	48,531
	_______	_______

9. Interest payable and similar expenses

		2025	2024
		£	£
Bank loans and overdrafts		15,156	-
Other loans made to the company:
	Other interest on other loans made to the company	4,350	-
Loss on financial instruments		294,366	-
Other interest payable and similar expenses		60,609	7,069
		_______	_______
		374,481	7,069
		_______	_______

10. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	497,702	451,619
Adjustments in respect of previous periods	( 18,604)	( 14,520)
	_______	_______

Deferred tax:
Origination and reversal of timing differences	( 22,672)	3,183
	_______	_______
Tax on profit	456,426	440,282
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

	2025	2024
	£	£
Profit before taxation	1,491,071	1,731,119
	_______	_______

Profit multiplied by rate of tax	372,768	432,780
Adjustments in respect of prior periods	( 18,604)	( 14,520)
Effect of expenses not deductible for tax purposes	96,829	21,728
Effect of capital allowances and depreciation	28,105	( 2,889)
Movement in deferred tax charge	( 22,672)	3,183
	_______	_______
Tax on profit	456,426	440,282
	_______	_______

11. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	1,500,000	850,000
	_______	_______

12. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2025	811,479	855,157	434,514	2,101,150
Additions	-	18,560	-	18,560
Disposals	-	-	( 29,353)	( 29,353)
	_______	_______	_______	_______
At 31 December 2025	811,479	873,717	405,161	2,090,357
	_______	_______	_______	_______
Depreciation
At 1 January 2025	173,384	583,862	182,419	939,665
Charge for the year	16,226	43,310	61,286	120,822
Disposals	-	-	( 22,388)	( 22,388)
	_______	_______	_______	_______
At 31 December 2025	189,610	627,172	221,317	1,038,099
	_______	_______	_______	_______
Carrying amount
At 31 December 2025	621,869	246,545	183,844	1,052,258
	_______	_______	_______	_______
At 31 December 2024	638,095	271,295	252,095	1,161,485
	_______	_______	_______	_______

13. Stocks

	2025	2024
	£	£
Work in progress	95,627	88,004
Finished goods	202,141	213,757
	_______	_______
	297,768	301,761
	_______	_______

14. Debtors

	2025	2024
	£	£
Trade debtors	2,021,917	2,181,889
Amounts owed by group undertakings	3,651,058	-
Prepayments and accrued income	268,727	267,480
Other debtors	3,061	320,866
	_______	_______
	5,944,763	2,770,235
	_______	_______

15. Creditors: amounts falling due within one year

	2025	2024
	£	£
Payments received on account	20	384
Trade creditors	1,407,742	1,604,937
Accruals and deferred income	104,254	48,582
Corporation tax	515,818	527,056
Social security and other taxes	227,334	289,832
Other creditors	( 90)	( 102)
	_______	_______
	2,255,078	2,470,689
	_______	_______

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

	2025	2024
	£	£
Bank loans and overdrafts	3,549,127	-
	_______	_______

17. Secured debts

Bank loans are secured by way of a fixed and floating charge over all property and undertakings of the company.

18. Provisions

		Deferred tax (note 19)
		£
	At 1 January 2025	119,084
	Charges against provisions	( 22,672)
		_______
	At 31 December 2025	96,412
		_______

19. Deferred tax

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

	2025	2024
	£	£
Included in provisions (note 18)	96,412	119,084
	_______	_______

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

	2025	2024
	£	£
Accelerated capital allowances	96,412	119,084
	_______	_______

20. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 54,636 (2024: £ 48,602 ).

21. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	10	10	10	10
	_______	_______	_______	_______

22. Reserves

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

23. Analysis of changes in net debt

	At 1 January 2025	Cash flows	At 31 December 2025
	£	£	£
Cash and cash equivalents	1,484,731	(215,819)	1,268,912
Debt due after one year	-	(3,549,127)	(3,549,127)
	_______	_______	_______
	1,484,731	( 3,764,946)	( 2,280,215)
	_______	_______	_______

24. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mrs Jayne Ryde	20,000	-	( 20,000)	-
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mrs Jayne Ryde	-	20,000	-	20,000
		_______	_______	_______	_______

25. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
K & M Ryde Transport Ltd	129,038	-	-	-
	_______	_______	_______	_______

During the year supplies of transport services with a total value of £129,038 were purchased from K Ryde Limited a company of which Mrs Ryde's son is the sole director and shareholder. The transactions took place at open market value.

26. Controlling party

The immediate & ultimate parent company is Subframes Holdings Ltd . The ultimate controlling party is Jayne Ryde by virtue of her 100% shareholding in the ultimate parent company.