ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 07169465

SEBNINI TRADING LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

SEBNINI TRADING LIMITED

COMPANY INFORMATION

Directors	G Schyberg
	S Schyberg


Registered number	07169465


Registered office	3b Flightpath Farm
	Broadbridge Lane
	Burstow
	Surrey
	RH6 9RF


Independent auditors	Barnes Roffe Audit Limited
	Chartered Accountants & Statutory Auditors
	Charles Lake House
	Claire Causeway
	Crossways Business Park
	Dartford
	Kent
	DA2 6QA


Bankers	HSBC
	139A North End
	Croydon
	Surrey
	CR0 1TN

SEBNINI TRADING LIMITED

CONTENTS

	Page
Strategic report	1
Directors' report	2 - 3
Independent auditors' report	4 - 7
Statement of comprehensive income	8
Balance sheet	9
Statement of changes in equity	10
Notes to the financial statements	11 - 24

SEBNINI TRADING LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 30 JUNE 2026

Introduction

The directors present the company strategic report accompanying the financial statements for the year ended 30 June 2026.

Business review

Performance for the year ended 30 June 2026 was in accordance with expectations, with trade continuing to be at a good level. Key performance indicators include:

2026 2025 2024 2023 2022
Turnover £26.7m £33.7m £25.2m £18.7m £23.2m
Gross Profit £7.1m £9.06m £7.5m £3.9m £3.2m
Profit before tax £5.4m £7.6m £6.7m £3.1m £2.4m

Turnover decreased from the year ended 30 June 2025 to the year ended 30 June 2026. This decrease was reflective of some overstocking by key customers in 2025

Other key items to note include:
- The level of stocks held as of 30 June £826K (2025 of £2.8m)
- Working capital requirements have eased , and the overall level of cash reserves have increased at group level 2026 £16,530k (2025 £12,459K), maintaining the policy of substantially retaining cash reserves within the group , while reducing the operating cash balances held in Sebnini Trading Ltd 2026 £994K, (2025 £3,870K) for routine cash management reasons.
- Prepayments remain high at year-end due to the requirement to pay deposits to suppliers in the build-up
to increased seasonal activity for the Christmas period.
- The accounts have been prepared on the going concern basis.

Principal risks and uncertainties

The key business risk and uncertainty affecting the company relates to the overall strength of the UK economy and global supply chains.

Other key business risks and uncertainties include competition from national and international resellers, new product introductions, and sterling fluctuation against other currencies. Currency fluctuation is carefully managed by securing long-term exchange rates. The company continues to monitor the US tariffs imposed on goods imported from China and other regions, which may have an impact on its US business. Antidumping duties (ADD) were introduced on imports of candles imported from China into the EU during the period under review, and as a result, supply was purchased form other territories not affected by the ADD. We are aware of the possibility of further expansion of ADD. The company is in a strong position to mitigate these risks.

Other key performance indicators

Given the straight forward nature of the business the directors are of the opinion that the key KPI's are turnover, gross profit and net profit as covered in the business review, and analysis using other KPI's is not necessary for an understanding of the development, performance or position of the business.

This report was approved by the board on 6 October 2026 and signed on its behalf.

G Schyberg

Director

Page 1

SEBNINI TRADING LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 JUNE 2026

The directors present their report and the financial statements for the year ended 30 June 2026.

Directors' responsibilities statement

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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to 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.

Results and dividends

The profit for the year, after taxation, amounted to £4,048,138 (2025 - £5,730,178).

Dividends of £4,232,000 (2025 - £4,325,000) were declared in the year.

Directors

The directors who served during the year were:

G Schyberg

S Schyberg

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 2

SEBNINI TRADING LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2026

Auditors

The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 6 October 2026 and signed on its behalf.

G Schyberg

Director

Page 3

SEBNINI TRADING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SEBNINI TRADING LIMITED

Opinion

We have audited the financial statements of Sebnini Trading Limited (the 'company') for the year ended 30 June 2026, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 30 June 2026 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.

Page 4

SEBNINI TRADING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SEBNINI TRADING LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 2, 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.

Page 5

SEBNINI TRADING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SEBNINI TRADING LIMITED (CONTINUED)

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 Auditors' 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 law and regulations, was as follows:

• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• We identified the laws and regulations applicable to the Company through discussion with directors and other management, and from our commercial knowledge and experience of the retail and distribution sector in which the Company operates;
• The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, are as follows;
o Companies Act 2006
o FRS102
o Health and Safety legislation
o Employment legislation
o Tax legislation
o ISO 9001
o Product specific standards and certification
• We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting relevant correspondence; and
• Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
• Making enquires management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations
• Reviewing the financial statements and testing the disclosures against supporting documentation;
• Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
• Inspecting and testing journal entries to identify unusual or unexpected transactions;
• Assessing whether judgement and assumptions made in determining significant accounting estimates, including stock provisions and bad debt provisions, were indicative of management bias; and
• Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company's usual course of business.

Page 6

SEBNINI TRADING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SEBNINI TRADING LIMITED (CONTINUED)

The areas that we identified as being susceptible to misstatement through fraud were:

• Management bias in the estimates and judgements made;
• Management override of controls; and
• Posting of unusual journals or transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Ben Bradley (Senior statutory auditor)

for and on behalf of

Barnes Roffe Audit Limited

Chartered Accountants & Statutory Auditors

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA

8 October 2026

Page 7

SEBNINI TRADING LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 JUNE 2026

	2026	2025
Note	£	£


Turnover	4	26,689,567	33,749,992
Cost of sales		(19,628,544)	(24,685,871)
Gross profit		7,061,023	9,064,121
Administrative expenses		(1,751,415)	(1,673,542)
Other operating income	5	2,781	44,653
Operating profit	6	5,312,389	7,435,232
Interest receivable and similar income	10	110,736	227,711
Interest payable and similar expenses	11	-	(13,891)
Profit before tax		5,423,125	7,649,052
Tax on profit	12	(1,374,987)	(1,918,874)
Profit for the financial year		4,048,138	5,730,178

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2026 (2025:£NIL).

The notes on pages 11 to 24 form part of these financial statements.

Page 8

SEBNINI TRADING LIMITED

REGISTERED NUMBER: 07169465

BALANCE SHEET

AS AT 30 JUNE 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	14		316,327		379,598
Investments	15		4,602		4,602
			320,929		384,200
Current assets
Stocks	16	825,840		2,832,005
Debtors: amounts falling due within one year	17	7,621,717		7,271,836
Cash at bank and in hand	18	993,987		3,869,593
		9,441,544		13,973,434
Creditors: amounts falling due within one year	19	(1,111,859)		(5,527,569)
Net current assets			8,329,685		8,445,865
Total assets less current liabilities			8,650,614		8,830,065
Provisions for liabilities
Deferred tax			(29,107)		(24,696)
Net assets			8,621,507		8,805,369

Capital and reserves
Called up share capital	21	100	100
Profit and loss account		8,621,407	8,805,269
		8,621,507	8,805,369

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G Schyberg

Director

Date: 6 October 2026

The notes on pages 11 to 24 form part of these financial statements.

Page 9

SEBNINI TRADING LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2026

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 July 2025	100	8,805,269	8,805,369

Profit for the year	-	4,048,138	4,048,138
Dividends: Equity capital	-	(4,232,000)	(4,232,000)
At 30 June 2026	100	8,621,407	8,621,507

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 July 2024	100	7,400,091	7,400,191

Profit for the year	-	5,730,178	5,730,178
Dividends: Equity capital	-	(4,325,000)	(4,325,000)
At 30 June 2025	100	8,805,269	8,805,369

The notes on pages 11 to 24 form part of these financial statements.

Page 10

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

1.	General information

Sebnini Trading Limited is a private company limited by shares and is incorporated in England and Wales. It has its registered office at 3b Flightpath Farm, Broadbridge Lane, Burstow, Surrey, England, RH6 9RF.

The company's principal activity continued to be that of the importation, manufacture and distribution of
candle and diffuser products to the retail sector.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

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

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Sebnini Holdings Limited as at 30 June 2026 and these financial statements may be obtained from Companies House and from the registered address at 3b Flightpath Farm, Broadbridge Lane, Burstow, Surrey, England, RH6 9RF.

2.3

Exemption from preparing consolidated financial statements

The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

Page 11

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

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

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 12

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property	-	Straight line over the period of lease term
Plant and machinery	-	15% Straight line
Motor vehicles	-	25% Straight line
Fixtures and fittings	-	25% Straight line
Office equipment	-	25% Straight line

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

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 13

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

2.Accounting policies (continued)

2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.14

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.15

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 14

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

2.Accounting policies (continued)

2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.19

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 15

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

a) Critical judgements in applying the company's accounting policies:

There were no significant judgments exercised by management in the preparation of the financial
statements.

b) Key accounting estimates and assumptions:

The company made key assumptions and accounting estimates regarding:

i) the useful economic life of tangible fixed assets and this is further described in note 2.6 of accounting
policies.

ii) the company holds a significant amount of product stock and is subject to changing consumer demands and industry trends. As a result it is necessary to consider the recoverability of the cost of stock and any stock write downs required. When calculating stock write downs, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability of stock. The value of stock, after any write down, as at 30 June 2026 is disclosed in note 16.

iii) the level of bad debt provision required due to the significant level of trade debtors held. Management makes allowances for doubtful debts in an assessment of the recoverability of debtors. Provisions are made where recoverability is uncertain.

Turnover

The whole of the turnover is attributable to the principal activity of the company.

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	17,466,202	23,343,640
Europe	4,127,092	3,596,044
Rest of the World	5,096,273	6,810,308
	26,689,567	33,749,992

5.	Other operating income
		2026	2025
		£	£

Insurance claims	2,781	44,653
	2,781	44,653

Page 16

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

Exchange differences	19,448	523,691
Other operating lease rentals	60,443	92,090
Depreciation	127,314	95,495

7.	Auditors' remuneration
		2026	2025
		£	£

Fees payable to the company's auditors for the audit of the company's financial statements

21,250

18,800

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.

Wages and salaries	1,159,467	1,059,976
Social security costs	150,961	115,232
Cost of defined contribution scheme	25,505	26,141
	1,335,933	1,201,349

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Staff	31	29

Page 17

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

9.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	113,826	43,382
Company contributions to defined contribution pension schemes	1,511	630
	115,337	44,012

10.	Interest receivable
		2026	2025
		£	£

Bank interest receivable	100,251	216,211
Other interest receivable	10,485	11,500
	110,736	227,711

11.	Interest payable and similar expenses
		2026	2025
		£	£

Bank interest payable	-	305
Other interest payable	-	983
Other interest on overdue tax	-	12,603
	-	13,891

Page 18

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

Corporation tax
Current tax on profits for the year	1,370,576	1,917,997
Adjustments in respect of previous periods	-	(10,931)

Total current tax	1,370,576	1,907,066

	Deferred tax
	Origination and reversal of timing differences	4,411	11,808


		1,374,987	1,918,874

Profit on ordinary activities before tax

5,423,125

7,649,052

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	1,355,781	1,912,263
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	4,009	3,551
Capital allowances for year in excess of depreciation	10,786	2,183
Deferred tax charge	4,411	11,808
Adjustments to tax charge in respect of prior periods	-	(10,931)
Total tax charge for the year	1,374,987	1,918,874

Factors that may affect future tax charges

There are no other factors that may affect future changes.

Page 19

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

13.	Dividends
		2026	2025
		£	£

	Dividends paid	4,232,000	4,325,000
		4,232,000	4,325,000

14.	Tangible fixed assets

	Short-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 July 2025	497,153	40,051	108,468	52,609	69,244	767,525
Additions	-	8,648	-	1,413	53,982	64,043
At 30 June 2026	497,153	48,699	108,468	54,022	123,226	831,568
Depreciation
At 1 July 2025	305,282	27,831	9,039	13,450	32,325	387,927
Charge for the year on owned assets	65,785	6,228	27,117	12,087	16,097	127,314
At 30 June 2026	371,067	34,059	36,156	25,537	48,422	515,241
Net book value
At 30 June 2026	126,086	14,640	72,312	28,485	74,804	316,327
At 30 June 2025	191,871	12,220	99,429	39,159	36,919	379,598

Page 20

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

15.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 July 2025	4,602
	At 30 June 2026	4,602

Subsidiary undertaking
The following was a subsidiary undertaking of the company:
Name	Registered office	Class of shares	Holding

Sebnini DK ApS

Copenhagen, Denmark

Ordinary

100%

16.	Stocks
		2026	2025
		£	£

Finished goods and goods for resale	825,840	2,832,005
	825,840	2,832,005

17.

Debtors

					2026	2025
					£	£


Trade debtors	4,564,655	5,200,918
Amounts owed by group undertakings	1,247,958	25,757
Other debtors	100	100
Prepayments and accrued income	1,809,004	2,045,061
	7,621,717	7,271,836

Page 21

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

18.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	993,987	3,869,593
	993,987	3,869,593

19.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	286,669	285,936
Amounts owed to group undertakings	461,702	4,233,764
Corporation tax	110,575	729,260
Other taxation and social security	135,436	143,288
Other creditors	61,658	12,663
Accruals and deferred income	55,819	122,658
	1,111,859	5,527,569

20.	Deferred taxation

	2026	2025
	£	£

At beginning of year	(24,696)	(12,888)
Charged/(credited) to profit or loss	(4,411)	(11,808)
At end of year	(29,107)	(24,696)

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

	Accelerated capital allowances	29,107	24,696
		29,107	24,696

Page 22

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

21.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

100 (2025 - 100) Ordinary shares of £1.00 each	100	100

22.	Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £25,505 (2025: £26,141). Contributions totalling £6,413 (2025: £5,660) were payable to these funds at the balance sheet date and are included in other creditors falling due within one year.

Not later than 1 year	54,991	102,591
Later than 1 year and not later than 5 years	52,089	202,146
	107,080	304,737

24.Other financial commitments

The company enters into forward foreign currency contracts to mitigate the exchange rate risk for certain foreign currency payables. The outstanding contracts all mature within 9 months of the year end. The company is committed to buy $nil (2025: $4,500,000) and to pay a fixed sterling amount of £nil (2025: £3,371,580). At 30 June 2026 there was a potential unrealised loss of £nil (2025: loss £91,027).

Page 23

SEBNINI TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2026

25.	Related party transactions
	At the year end there was a balance due to the director totalling £49,821 (2025: £Nil) included in other creditors due within one year.

26.	Controlling party

The parent company is Sebnini Holdings Limited, a company incorporated in England and Wales. Sebnini Holdings Limited produces financial statements incorporating the results of Sebnini Trading Limited which
can be obtained from 3b Flightpath Farm, Broadbridge Lane, Burstow, Surrey, England, RH6 9RF. The ultimate controlling party is G Schyberg.

Page 24