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

Skiddle is a leading UK primary ticketing platform and events discovery business, providing end-to-end ticketing solutions, marketing services and event technology for promoters across the UK and internationally. The platform enables promoters to manage the full customer journey from ticket sale through to event entry whilst providing customers with a seamless purchasing experience.

The Company's strategic objective during the year remained consistent with previous years: to deliver sustainable long-term growth through increasing market share, expanding relationships with existing promoters and acquiring new promoters across multiple event categories.

The business continued to perform strongly throughout the year, securing a number of significant promoter wins whilst growing ticket sales across the existing promoter base. Continued diversification across music, festivals, live entertainment and lifestyle events further strengthened the resilience of the business and expanded customer choice.

Alongside commercial growth, the Company continued to invest heavily in technology to enhance the customer and promoter experience. Significant development activity during the year included continued enhancements to the Promotion Centre platform, further rollout of Session-Based Ticketing and ongoing investment in automation, reporting and platform scalability. Total capitalised software development expenditure during the year amounted to £1.56 million.

Financial performance was particularly strong during the year. Turnover increased by 31% to £23.89 million (2025: £18.24 million), reflecting continued growth in ticket volumes, increased customer revenues and the successful acquisition of new promoters. The Company facilitated gross transaction values significantly in excess of reported turnover, continuing its position as one of the UK's leading primary ticketing platforms.

Gross profit increased to £11.76 million (2025: £9.51 million), with gross margin remaining robust despite continued investment in acquiring strategic long-term promoter partnerships. These relationships support sustainable future revenue growth and further strengthen the Company's market position.

Administrative expenses increased to £6.89 million (2025: £6.73 million), demonstrating strong operational leverage as the business continued to scale. EBITDA increased by 54% to £7.04 million, highlighting the ability to convert revenue growth into increased profitability whilst continuing to invest in technology and future growth initiatives. Operating profit increased to £5.47 million (2025: £3.22 million).

The Company maintained an exceptionally strong balance sheet throughout the year. Cash balances increased to £37.46 million whilst all external bank borrowings were repaid during the year, leaving the business debt free at the year end. Net assets increased to £12.87 million (2025: £8.51 million), reflecting continued profitability and strong cash generation. The directors remain committed to maintaining a prudent treasury policy, ensuring sufficient liquidity is maintained at all times to meet customer and promoter obligations whilst supporting future investment opportunities.

The directors regularly monitor a range of financial and operational key performance indicators which are reviewed at board meetings.

Financial KPIs:

Non-financial KPIs:

The directors continue to monitor a number of operational performance measures, including promoter acquisition and retention, customer satisfaction and Net Promoter Scores ("NPS") for both customers and promoters. These indicators remain central to measuring the long-term health and sustainability of the business.

Competitive market:

The live events and ticketing sector remains highly competitive. The Company continues to invest in technology, product innovation and customer service to differentiate its offering and strengthen long-term promoter relationships.

Cyber security:

As a technology led business, protecting customer data and maintaining platform resilience remain key priorities. The Company continues to maintain PCI DSS Merchant and Service Provider accreditation and undertakes regular internal and external security assessments.

Liquidity:

The Company maintains significant cash reserves and robust forecasting processes to ensure sufficient liquidity is available to meet all obligations. The directors continue to operate a prudent treasury policy and do not rely upon customer funds to finance day-to-day operations.

People:

The Company's continued success depends upon attracting, retaining and developing high quality employees. Investment in recruitment, training and employee engagement remains a strategic priority.

The Company continues to invest significantly in proprietary software development to enhance its technology platform and improve the customer and promoter experience.

During the year, qualifying development expenditure of approximately £1.56 million was capitalised. Development activity focused on improving platform scalability, automation, analytics capability, event management functionality and customer experience, providing a strong foundation for future growth.

The Company remains committed to responsible business practices and supporting a more sustainable live events industry. Working alongside partners and event organisers, Skiddle continues to promote initiatives that encourage environmental responsibility whilst maintaining high standards of governance, transparency and employee wellbeing.

The directors remain confident in the Company's long-term prospects.

The business enters the new financial year with strong momentum, a diversified promoter base, significant cash resources and a debt-free balance sheet. Continued investment in technology, automation and product innovation will remain central to the Company's strategy, alongside expansion into additional event categories and selected international markets.

The directors believe the Company's scalable technology platform, strong customer proposition and long-standing promoter relationships position the business well to deliver sustainable long-term growth.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2026.

The principal activity of the company continued to be that of a primary ticket outlet and events guide.

The results for the year are set out on page 10.

No ordinary dividends were declared in respect of the current year. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The auditor, PM+M Solutions for Business LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The directors are responsible for preparing the annual 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; 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.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

We have audited the financial statements of Skiddle Limited (the 'company') for the year ended 31 March 2026 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 March 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 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 contained within the annual report. 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. 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 course of 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 our 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.

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.

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.

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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

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.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:

• the nature of the industry and sector, control environment and business performance including the design of the Company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;

• results of our enquiries of management about their own identification and assessment of the risks of irregularities;

• the matters discussed among the audit engagement team and relevant specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud;

• any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

  • identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

  • detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

  • the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of commercial income, posting of unusual journals and complex transactions; and manipulating the Company's performance profit measures and other key performance indicators to meet remuneration targets and externally communicated targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety regulations, pensions legislation and tax legislation.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

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

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

• reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

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

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's 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 auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Skiddle Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ashley Hall Farm, Inglewhite Road, Goosnargh, Preston, PR3 2EB.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover represents the total commissions earned from tickets sold as an agent, excluding value added tax. It includes commissions earned in respect of personal ticket refund protection taken out by customers, and charges made to Promoters in respect of services provided by the Company, net of value added tax.

The company acts solely as a booking agent and accordingly the revenue from such fees are presented on a net basis and are recognised at point of sale. The company also provides additional services to Promoters, the revenue attributed to these services is recognised when the services are provided. All amounts collected on behalf of third parties are excluded from revenue.

The directors have elected to capitalise qualifying software development costs in order to give more reliable and relevant information to other users of the financial statements, this is because the cost of the expense is spread over the period that economic benefit is expected to be received as a result, furthermore the development costs are being recognised as an asset in the statement of financial position which gives us a better reflection of the underlying value held by the company in respect of development at each period-end.

The Company capitalises development expenditure as an intangible asset when it is able to demonstrate all of the following:

(a) The technical feasibility of completing the development so the intangible asset will be available for use or sale.

(b) Its intention to complete the development and to use or sell the intangible asset.

(c) Its ability to use or sell the intangible asset.

(d) How the intangible asset will generate probable future economic benefits.

(e) The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset.

(f) Its ability to reliably measure the expenditure attributable to the intangible asset during its development.

Furthermore, as the development costs capitalised under this policy are expected to produce future economic benefits the amortisation of such costs will be treated as a realised loss in accordance with section 844 of Companies Act 2006 rather than the initial expenditure.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Capitalised development expenditure is amortised on a straight-line basis over its useful life. The directors consider the useful life below to be appropriate as the software generally becomes outdated and obsolete over this period.

Amortisation is recognised so as to write off the cost less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost less their residual values over their useful lives on the following bases:

Freehold land and assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

The main areas of judgement that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are in relation to debtor provisions, the capitalisation of staff costs into intangible assets, and the useful economic lives of the company’s intangible assets.

Management reviews receivables on an ongoing basis to assess the need for impairment. A provision for impairment of receivables is recognised when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Judgement is required in determining whether staff costs directly attributable to internally generated intangible assets meet the criteria for capitalisation, including the expectation that the project will generate probable future economic benefits. In applying this judgement, management consider the stage of development, expected commercial feasibility, and the extent to which the resulting asset will enhance or generate revenue-earning potential.

The proportion of staff time attributable to each project represents a key source of estimation uncertainty, as it directly impacts the amount of development costs capitalised. These estimates are based on management’s assessment of time incurred on qualifying activities, supported by project tracking information.

Intangibles are amortised over their estimated useful economic lives, which are determined based on the period over which the software is expected to generate economic benefits before becoming obsolete.

Other operating income of £603,270 (2025: £442,514) comprises uncollected promoter face value ticket proceeds and other minor promoter-related income of £256,297 (2025: £180,889) and £346,973 (2025: £261,625) of research and development tax credit income.

During the year ended 31 March 2026, an amount of £189,255 (2025: Nil) due from a related party under common control was written off as an irrecoverable amount. This has been recognised as an exceptional item within the profit and loss account.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2025 - 0).

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

The average amortisation period remaining for the above intangible assets is 20 months.

Trade debtors include amounts receivable from certain event promoters, where agreed payment terms can result in a proportion of their balances being due after more than one year.

The bank loan was repaid in full during the year, ahead of its contractual repayment date. Interest was charged at 2.34% per annum above the Bank of England base rate.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The increase in the deferred tax liability arises from accelerated capital allowances in the year, and this will reverse over the lives of the related assets. However, this reversal may be partially offset by additional deferred tax charges arising from further accelerated capital allowances on future asset purchases.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At balance sheet date, these contributions outstanding totalled £51,904 (2025: £22,973).

The company's freehold property is subject to a legal charge in respect of banking facilities available to the company. No amounts were outstanding under these facilities at 31 March 2026 or 31 March 2025.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

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

Included within other debtors are amounts totalling £217,924 (2025: £214,160) due from companies under common control. During the year, loan advances of £218,019 (2025: £214,160) were made to such companies, with repayments of £25,000 (2025: £Nil) being received. A write off of £189,255 (2025:£Nil) against these balances has been recognised during the year.

Included within other debtors is £4,500 (2025: Nil) due from individuals connected to directors.

Remuneration of £103,000 (2025: £103,000) was paid during the year to individuals connected to directors for services provided to the company.

Included within other debtors are amounts totalling £569,061 due from directors at the year end (2025: £808,431 due to directors and included within other creditors).

During the year, dividends of £Nil (2025: £2,300,000) were declared but not paid and credited to the directors' loan accounts. Payments of £1,089,799 (2025: £321,216) were made to the directors, and dividends of £287,693 (2025: £1,170,737) were paid.