Company No: 08462851 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	202,941		308,840
Investment property	4	13,250,000		13,000,000
Investments	5	400		500
		13,453,341		13,309,340
Current assets
Debtors	6	4,064,848		3,476,549
Cash at bank and in hand		46,729		429,014
		4,111,577		3,905,563
Creditors: amounts falling due within one year	7	( 716,468)		( 424,184)
Net current assets		3,395,109		3,481,379
Total assets less current liabilities		16,848,450		16,790,719
Creditors: amounts falling due after more than one year	8	( 5,965,929)		( 6,128,287)
Provision for liabilities		( 2,489,000)		( 2,433,000)
Net assets		8,393,521		8,229,432
Capital and reserves
Called-up share capital	9	65		65
Capital redemption reserve		45		45
Profit and loss account		8,393,411		8,229,322
Total shareholders' funds		8,393,521		8,229,432

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Axminster Group Limited (registered number: 08462851) were approved and authorised for issue by the Board of Directors on 15 October 2026. They were signed on its behalf by:

Mr J Dutfield Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Axminster Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The principal place of business and registered address is:

Main Office
Woodmead Road
Axminster
EX13 5PQ

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This depends on the continued financial support of the company's directors and bankers.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of rental income in the ordinary course of the company's activities. Turnover is shown net of value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	5 years straight line
Office equipment	5 years straight line
Computer equipment	5 years straight line

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	419,432		123,029		7,274		958		550,693
At 31 December 2025	419,432		123,029		7,274		958		550,693
Accumulated depreciation
At 01 January 2025	208,560		29,605		3,417		271		241,853
Charge for the financial year	79,647		24,605		1,455		192		105,899
At 31 December 2025	288,207		54,210		4,872		463		347,752
Net book value
At 31 December 2025	131,225		68,819		2,402		495		202,941
At 31 December 2024	210,872		93,424		3,857		687		308,840

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	13,000,000
Additions	75,479
Fair value movement	175,050
Disposals	(529)
As at 31 December 2025	13,250,000

Valuation

The investment property has been measured at fair value, which is the open market value of the property based on a valuation by the directors as at 31 December 2025.

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	500
Additions	1
At 31 December 2025	501
Provisions for impairment
At 01 January 2025	0
Impairment	101
At 31 December 2025	101
Carrying value at 31 December 2025	400
Carrying value at 31 December 2024	500

6. Debtors

	2025		2024
	£		£
Trade debtors	284,877		177,902
Amounts owed by Group undertakings	3,542,108		3,042,119
Prepayments and accrued income	187,863		208,683
Other debtors	50,000		47,845
	4,064,848		3,476,549

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	98,348		113,800
Trade creditors	154,562		132,707
Amounts owed to Group undertakings	237,174		0
Accruals	5,752		18,022
Other taxation and social security	194,908		114,718
Obligations under finance leases and hire purchase contracts (secured)	17,425		36,715
Other creditors	8,299		8,222
	716,468		424,184

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

	2025		2024
	£		£
Bank loans (secured)	4,474,878		4,595,006
Amounts owed to directors	12,642		12,642
Obligations under finance leases and hire purchase contracts (secured)	41,834		59,261
Other creditors	1,436,575		1,461,378
	5,965,929		6,128,287

Bank loans are denominated in sterling and the final instalment is due on 14 September 2029. The carrying amount at year end is £4,573,226 (2024 - £4,708,809).

There are three bank loans with first legal charges over the freehold land and buildings of the company. A personal guarantee has also been provided by the directors of the company.

The unsecured loan notes and other borrowings totalling £1,449,217 (2024 - £1,474,020) are owed to the directors and other related parties of the company. Whilst the amounts are repayable to the directors and other related parties, their intention is to provide long-term funding to the company and will not seek repayment for the foreseeable future.

The hire purchase agreements are secured over the assets to which they relate.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
65 Ordinary shares of £ 1.00 each	65		65

Included in the profit and loss reserves are non-distributable reserves of £7,798,243 (2024 - £7,667,192).

10. Related party transactions

Other related party transactions

	2025		2024
	£		£
Robert Day Associates Limited	786,640		811,443

During the current and previous year, a loan existed between the company and Robert Day Associates Limited. Interest has been charged on this loan at 6.21% and has no fixed date for repayment. At the balance sheet date, the amount due to Robert Day Associates Limited was £786,640 (2024: £811,443).

The company has taken advantage of the exemption to not disclose transactions with 100% group companies.