REGISTERED NUMBER: 12876076 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

INDEVIN UK LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

A Mamo

M C Newton

M W R Brigden

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

12876076 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

The directors present their strategic report for the year ended 30 June 2025.

The principal activities of the company continue to be the UK importation, bottling logistics and distribution of New Zealand wines produced by Indevin Group Limited, its parent company. Indevin Group Limited is a company incorporated in New Zealand, involved in grape growing, wine production and the sale of bottled branded and bulk New Zealand wines around the world.

REVIEW OF BUSINESS

Indevin UK Limited's revenue increased by 115.2% during the year to £60.27 million (2024: £28.00 million). This growth reflects a change to the Group's operating model implemented during 2024, whereby a portion of wine product previously bottled and sold by another Indevin Group Limited subsidiary outside the UK is now bottled and sold within the UK market. The 2025 financial year is the first full year to reflect this operating model.

As a limited-risk distributor, the Company's profitability is determined by its role within the wider Indevin Group. Accordingly, while revenue increased by 115.2%, operating profit increased by 37.9% to £1.42 million (2024: £1.03 million).

PRINCIPAL RISKS AND UNCERTAINTIES

Declining global wine consumption and ongoing industry oversupply continue to represent key risks to the Company. The Company remains focused on maintaining strong customer relationships, supporting key distribution partners and executing its customer-centric strategy to mitigate these risks.

As a limited-risk distributor the company's liquidity, currency and credit risks are supported or monitored by the parent. With the parent ensuring the entity has limited foreign exchange exposure, monitoring the trade debtors to ensure over dues are collected and ensuring the company has working capital.

KPI

Management monitors the performance of the Company using the following key financial indicators:

2025

2024

Revenue

£60.27m

£28.00m

Operating Profit

£1.42m

£1.03m

Revenue increased following the first full year under the revised operating model, while operating profit grew in line with the Company's limited-risk distributor status.

FUTURE DEVELOPMENTS

While market conditions remain challenging due to declining global wine consumption continued industry oversupply and further regulatory and tax changes in the UK, the Company is well positioned to respond through its customer-focused approach, strong distribution partnerships, improving operational efficiency and alignment with the broader Indevin Group strategy.

ON BEHALF OF THE BOARD:

A Mamo - Director

21 October 2026

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the distribution of New Zealand wines.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

DIRECTORS

A Mamo has held office during the whole of the period from 1 July 2024 to the date of this report.

Other changes in directors holding office are as follows:

M C Newton, M W R Brigden and S V J Limmer were appointed as directors after 30 June 2025 but prior to the date of this report.

D J McFarlane, S J Knight, and S V J Limmer ceased to be directors after 30 June 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Oury Clark Chartered Accountants, are deemed to be re-appointed under Section 487 (2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

A Mamo - Director

21 October 2026

Opinion

We have audited the financial statements of Indevin UK Limited (the 'company') for the year ended 30 June 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its loss for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to Note 2 to the financial statements, which explains that the financial statements have been prepared on a going concern basis.

The Company is reliant on its parent company, Indevin Group Limited, for ongoing financial support. In June 2026, the Group completed a refinancing and restatement of its syndicated banking facilities, extending the maturity of the term loan, revolving and working capital facilities to 15 August 2029. The revised facilities include financial covenant obligations tested quarterly, scheduled amortisation payments, an annual cash flow sweep. The Group's obligations are secured by fixed and floating security over substantially all of the Group's assets, including its vineyards and wineries.

The Group's forecasts indicate compliance with the revised facilities financial covenants and scheduled debt reduction requirements. These forecasts are dependent on the achievement of forecast trading performance, generation of operating cash flows, continued compliance with lender requirements. Adverse variation in any of these assumptions could result in a breach of covenant or a failure to meet a mandatory repayment obligation.

A failure by the Group to achieve forecast performance, comply with its covenants or meet its repayment obligations would constitute an event of default under the facilities. The Group would then be dependent on obtaining waivers or amendments from its lenders, for which there is no assurance. In the absence of such support the lenders would be entitled to cancel the facilities, demand immediate repayment of all amounts outstanding and enforce their security over the Group's assets. In those circumstances the parent company would be unable to continue to provide financial support to the Company, and the Company would be unable to continue to trade.

These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Oury opinion is not modified in respect of this matter.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be misstated. If we identify such inconsistencies or apparent 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 any matters in the Strategic Report or the Report of the Directors that are inconsistent with our overall view of the financial statements.

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 returns; or

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors 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:

Identifying and assessing potential irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

Considering the nature of the industry, sector, control environment and current business activities, including possible performance targets and subsequent remuneration;

-

Enquiring of management concerning policies and procedures relating to:

1.

Complying with laws and regulations and whether there were any instances of non compliance;

2.

Mitigating, detecting and responding to fraud risk and whether there has been any actual or possible instances of fraud.

-

Discussing within the engagement team regarding how and where fraud may occur in the financial statements along with the possible indicators of fraud. We identified the following areas as most likely to be susceptible to fraud:

1.

Management override;

2.

Revenue recognition;

3.

Stock valuation and net realisable value;

4.

Stock existence.

-

Discussing within the engagement team, the legal and regulatory framework in which the company operates and in particular those which would have an impact on the financial statements. The key laws and regulations considered were the Companies Act 2006, UK tax legislation and UK employment law.

Audit response to the risks identified

As noted above, we identified management override, revenue recognition, stock valuation and stock existence as matters that would most likely be susceptible to fraud. Our procedures to respond to these risks included the following:

-

Review of nominal ledger and journals posted in the year to ensure there was no evidence of management override;

-

A review of sales documentation to ensure revenue is recognised when obligations are fulfilled;

-

Test of detail vouching stock values to sales prices to ensure stock is held at the lower of cost and net realisable value and vouching stock cost to supporting documentation to ensure value used to record at is appropriate;

-

Testing for existence during the virtual stock-take.

Further, we also identified compliance with the Companies Act 2006, UK tax legislation and UK employment law as being key areas where there may be possible non-compliance. Our procedures to respond to these risks included the following:

-

Review the financial statement disclosures with completion of a disclosure checklist and testing disclosures to supporting documentation to assess compliance with the Companies Act 2006;

-

Review the corporation tax return to ensure it complies with UK tax legislation and completion of our detailed corporation tax checklist;

-

A safeguard review of the financial statements by a qualified accountant independent of the audit team;

-

A safeguard review of the corporation tax computation by a Chartered Tax Adviser independent of the audit team; and

-

We have reviewed legal fees for indications of material issues arising out of non-compliance with UK employment law.

The above matters and identified laws and regulations and potential fraud risks were communicated to all engagement team members in order to enable the team to have the ability to identify such risks. The whole team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Rachel Lockwood (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

21 October 2026

TURNOVER

60,266,360

28,000,677

Cost of sales

57,450,319

26,060,020

GROSS PROFIT

2,816,041

1,940,657

Administrative expenses

1,436,330

928,105

1,379,711

1,012,552

Other operating income

37,712

20,302

OPERATING PROFIT

4

1,417,423

1,032,854

Interest payable and similar expenses

5

1,578,626

503,837

(LOSS)/PROFIT BEFORE TAXATION

(161,203

)

529,017

Tax on (loss)/profit

6

-

132,750

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(161,203

)

396,267

(LOSS)/PROFIT FOR THE YEAR

(161,203

)

396,267

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(161,203

)

396,267

CURRENT ASSETS

Stocks

7

11,237,053

10,863,445

Debtors

8

13,988,678

12,233,242

Cash at bank

48,186

48,270

25,273,917

23,144,957

CREDITORS

Amounts falling due within one year

9

24,745,832

22,455,669

NET CURRENT ASSETS

528,085

689,288

TOTAL ASSETS LESS CURRENT LIABILITIES

528,085

689,288

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

527,985

689,188

SHAREHOLDERS' FUNDS

528,085

689,288

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2026 and were signed on its behalf by:

A Mamo - Director

M C Newton - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2023

100

292,921

293,021

Changes in equity

Total comprehensive income

-

396,267

396,267

Balance at 30 June 2024

100

689,188

689,288

Changes in equity

Total comprehensive income

-

(161,203

)

(161,203

)

Balance at 30 June 2025

100

527,985

528,085

Cash flows from operating activities

Cash generated from operations

1

2,871,061

(15,726,436

)

Interest paid

(1,578,626

)

(503,837

)

Tax paid

(623,308

)

(155,229

)

Net cash from operating activities

669,127

(16,385,502

)

Cash flows from financing activities

Decrease in intercompany creditor

(669,211

)

16,415,448

Net cash from financing activities

(669,211

)

16,415,448

(Decrease)/increase in cash and cash equivalents

(84

)

29,946

Cash and cash equivalents at beginning of year

2

48,270

18,324

Cash and cash equivalents at end of year

2

48,186

48,270

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.6.25

30.6.24

£

£

(Loss)/profit before taxation

(161,203

)

529,017

Finance costs

1,578,626

503,837

1,417,423

1,032,854

Increase in stocks

(373,608

)

(10,814,964

)

Increase in trade and other debtors

(1,170,878

)

(10,633,221

)

Increase in trade and other creditors

2,998,124

4,688,895

Cash generated from operations

2,871,061

(15,726,436

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2025

30.6.25

1.7.24

£

£

Cash and cash equivalents

48,186

48,270

Year ended 30 June 2024

30.6.24

1.7.23

£

£

Cash and cash equivalents

48,270

18,324

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.24

Cash flow

At 30.6.25

£

£

£

Net cash

Cash at bank

48,270

(84

)

48,186

48,270

(84

)

48,186

Total

48,270

(84

)

48,186

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The Company is reliant on its parent company, Indevin Group Limited, for ongoing financial support. In June 2026, the Group completed the refinancing of its syndicated banking facilities, extending the maturity of its facilities to August 2029 and securing ongoing support from its banking syndicate. The revised facilities include continued financial covenant obligations, scheduled debt repayments, and cash flow sweep requirements..

The Group's forecasts indicate compliance with the revised banking facilities, financial covenants and scheduled debt reduction requirements. These forecasts are dependent on the achievement of forecast trading performance, generation of operating cash flows and continued compliance with lender requirements.

The Group's ability to continue as a going concern is dependent upon achieving forecast earnings and cash flows. Should the Group be unable to achieve the forecast operating performance, satisfy financial covenant requirements or meet mandatory repayment obligations, the Group may require additional funding, further lender support, or alternative debt reduction measures. In such circumstances, the lenders could exercise rights available under the facilities, including demanding repayment of amounts outstanding.

These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Nevertheless, the financial statements have been prepared on a going concern basis, as the directors believe that the parent company will continue to support the Company for the foreseeable future and that the Group's refinancing, together with the actions available to management - including drawing on undrawn facility headroom, deferring discretionary capital expenditure and progressing non-core asset disposals - provide a reasonable basis for the Company to continue in operational existence for at least twelve months and one day from the date of approval of these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The key sources of estimation uncertainty in the current year are:

1. Stock Provision. Management is required to estimate the provision required for slow-moving, obsolete or damaged stock. In making this assessment, management considers the age and condition of stock, expected future demand and estimated selling prices.

2. Bad debt provision. Management is required to estimate the provision required for potentially irrecoverable trade receivables. In making this assessment, management considers the ageing of outstanding balances, customers' payment history and other information available regarding recoverability.

Turnover

Turnover represents the fair value of the consideration received or receivable for goods supplied in the normal course of business, net of value added tax, discounts and returns.

Turnover consists of external sales, intercompany recharges, and intercompany transfer pricing adjustments, in periods where they create a credit impact.

Intercompany amounts are charged to the Company's parent company under a transfer pricing agreement, excluding value added tax. Such turnover is recognised when the related chargeable costs are incurred.

External sales comprise two distinct revenue streams, bulk wine and bottled wine. In both cases turnover is recognised when the significant risks and rewards of ownership have transferred to the customer. For bulk wine orders, the significant risks and rewards of ownership transfer on despatch of the product from the New Zealand port of origin. For bottled wine orders, they transfer on delivery of the product to the customer.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is determined using the average cost method.

Financial instruments

Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

30.6.25

30.6.24

£

£

Wages and salaries

198,311

216,933

Social security costs

19,524

21,914

Other pension costs

30,729

33,450

248,564

272,297

The average number of employees during the year was as follows:

30.6.25

30.6.24

Sales

1

1

Stock

1

1

2

2

30.6.25

30.6.24

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.6.25

30.6.24

£

£

Auditors' remuneration

13,993

32,805

Foreign exchange differences

1,000,572

533,524

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.6.25

30.6.24

£

£

Interest payable

1,578,626

503,837

6.

TAXATION

Analysis of the tax charge

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

30.6.25

30.6.24

£

£

Current tax:

UK corporation tax

-

132,750

Tax on (loss)/profit

-

132,750

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.25

30.6.24

£

£

(Loss)/profit before tax

(161,203

)

529,017

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

(40,301

)

132,254

Effects of:

Expenses not deductible for tax purposes

(661

)

496

Adjustments to tax charge in respect of previous periods

40,962

-

Total tax charge

-

132,750

7.

STOCKS

30.6.25

30.6.24

£

£

Stocks

11,237,053

10,863,445

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade debtors

12,274,555

11,996,539

Other debtors

584,558

-

VAT

1,129,565

215,756

Prepayments and accrued income

-

20,947

13,988,678

12,233,242

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade creditors

744,807

95,395

Amounts owed to group undertakings

16,992,653

17,661,864

Tax

-

38,750

Social security and other taxes

5,524

6,441

Accruals and deferred income

7,002,848

4,653,219

24,745,832

22,455,669

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 July 2024

689,188

Deficit for the year

(161,203

)

At 30 June 2025

527,985

12.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Indevin Group Limited, a company incorporated in New Zealand. The parent undertaking of the smallest group within which consolidated financial statements are prepared is Indevin Group Limited. The registered address of this entity is Level 2, 1 Market Street, Blenheim, 7201, NZ. Consolidated accounts are not publicly available.

The ultimate controlling party is Harrogate Trustee Limited (on behalf of the Brandywine Trust).