This report was approved by the board of directors on 28 October 2026
and signed on behalf of the board by:

Name: Warren Paull
Status: Director

Other adjustments of £278 comprise the impairment charge relating to computer equipment which ceased to be usable; its remaining carrying amount was written down to nil. The comparative net book value at 31 January 2025 is restated.

Fixed asset investments comprise gold sovereigns. 2026 £ 2025 £ At beginning of year 16,429 11,738 Revaluation gain 10,134 4,691 At end of year 26,563 16,429 Historical-cost carrying amount 9,931 9,931 Movements in the revaluation reserve are set out in the revaluation reserve note. Warren Clarke Paull, director, valued the holding at 31 January 2026 using the quoted gold price at 30 January 2026, the last business day before the year end, without a coin premium. The previous valuation was at 31 January 2025. No current or deferred tax arises on the revaluation of these sterling legal-tender coins.

Debtors comprise Corporation Tax recoverable £1,045 (2025 restated: £nil) and accrued interest £18 (2025 restated: £23), totalling £1,063 (2025 restated: £23). Prepaid services and insurance are £739 (2025 restated: £990). Debtors in this online balance sheet include these prepayments, giving £1,802 (2025 restated: £1,013).

Current investments comprise money-market funds of £38,480 (2025 restated: £44,939), measured at fair value through profit or loss. Fund gains recognised in profit or loss were £1,752 (2025: £1,057). Current investment values are taken from the fund provider’s closing statements. Fund gains include realised and unrealised movements; separately charged provider fees are expensed.

Amounts falling due within one year comprise accruals and other creditors £143 (2025 restated: £3,197), Corporation Tax and interest £221 (2025 restated: £2,195), and amount due to director £63 (2025 restated: £654), totalling £427 (2025 restated: £6,046). The amount due to the director is interest-free and repayable on demand. Current tax balances include estimates for prior periods and are presented separately from tax recoverable.

No material guarantees, contingent liabilities or additional commitments were identified.

The 2025 comparatives have been restated to correct expense and income timing, asset depreciation and valuation, and current and deferred taxation. Website development costs are presented separately from computer equipment to distinguish the website asset from physical hardware. Money-market fund holdings are presented separately from bank cash to distinguish investment units from deposits. Comparative amounts have been reclassified consistently. These two classification changes do not alter profit or net assets. The gold revaluation gain is presented in other comprehensive income rather than profit, with no effect on total equity. 31 January 2025: previously reported / adjustment / restated (all £; brackets denote negative amounts): Intangible assets: nil / 117 / 117. Tangible assets: 3,766 / 155 / 3,921. Current asset investments: nil / 44,939 / 44,939. Debtors excluding prepayments: nil / 23 / 23. Cash at bank and in hand: 142,755 / (44,941) / 97,814. Prepayments: nil / 990 / 990. Creditors due within one year: (5,961) / (85) / (6,046). Deferred tax provision: nil / (767) / (767). Net assets: 156,989 / 431 / 157,420. Profit and loss account: 150,490 / 431 / 150,921. The adjustments increase comparative net assets and retained earnings by £431. Investment carrying values and reserves otherwise retain their existing measurement basis. Opening balances at 1 February 2024: earlier timing differences and related tax adjustments reduce opening retained earnings by £410 to £148,154. Opening net assets are consequently £149,962 instead of £150,372. The revaluation reserve and share capital are unchanged. For presentation in this online balance sheet, prepayments are included with debtors; the component amounts above and in the debtors note remain separately disclosed.