REGISTERED NUMBER: 08945856 (England and Wales)

STRATEGIC REPORT, DIRECTORS' REPORT AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

PURE TABLE TOP LTD

Page

Company Information

1

Strategic Report

2

Directors' Report

3

Independent Auditors' Report

4

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

DIRECTORS:

G R Mann

H M R Rawson

T H A Sellicks

REGISTERED OFFICE:

The Cherry Shed

Tugby Orchards Wood Lane

Tugby

Leicester

LE7 9WE

REGISTERED NUMBER:

08945856 (England and Wales)

AUDITORS:

Magma Audit LLP (part of the Dains Group)

First Floor, Lakeside House

4 Smith Way

Grove Park

Leicester

Leicestershire

LE19 1SX

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

REVIEW OF BUSINESS

The principal activity of the business is the design, sourcing and supply of ceramics, glass and kitchen products for the homeware market, primarily in the UK.

Our focus over the last financial year has been to reverse two years of trading losses and bring the company back into a profitable position. We identified that our licenced wholesale model was having a negative impact on the whole business and distracting us from our core purpose. Therefore, we have transitioned away from the licenced brands model and focused fully on our core business, reducing our costs, improving our cash flow and stock risk as a result.

The UK Retail market has continued to be challenging this year but despite this we have managed to increase sales from £13.9M to £14.7M. Australia also continues to be an important market for us.

Controlling our overheads remains a priority, and whilst administration costs have remained static year on year at around £2.8M, we have managed to offset the increase in employers NI contributions by making savings elsewhere. The transition away from the licenced wholesale model has led to cost reductions that will benefit our 2026/27 accounts.

Overall, we are satisfied with our performance given the challenging market conditions, and continue to monitor sales budgets, margins and costs closely.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks to our trading performance are:

a) Recession

b) Rising inflation and interest rates

c) Increase in fuel costs

d) Freight rates

e) Stock holding

f) Currency fluctuations as we purchase products in both US Dollars and Euros

UK businesses continue to navigate some uncertainty, including sustainability considerations and geopolitical events. This has led to broader economic pressures such as inflation, higher interest rates and supply chain challenges.

The Directors have assessed the potential impact and, considering mitigating actions, do not expect a material effect beyond general economic conditions. These factors have been reflected in the going concern assessment.

The company mitigates some of its currency exposure naturally by generating US Dollar revenue through its FOB sales. However, it is our policy to use currency hedging wherever we feel it is appropriate.

KEY PERFORMANCE INDICATORS

The business has a set of financial and operational KPIs and budgets that are reviewed monthly both at board and senior management level. These measure the company's performance against its growth and strategic targets. These include sales growth, margins, cash flow, distribution costs, overheads, stock and sustainability targets.

ON BEHALF OF THE BOARD:

G R Mann - Director

16 October 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the design, creation, sourcing and supply of ceramics, glass and tabletop products for the homeware market.

DIVIDENDS

Interim dividends were paid amounting to £102,500 (2025 - £123,000). The directors recommend that no final dividend be paid.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

G R Mann

H M R Rawson

T H A Sellicks

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Magma Audit LLP (part of the Dains Group), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G R Mann - Director

16 October 2026

Opinion

We have audited the financial statements of Pure Table Top Ltd (the 'company') for the year ended 31 March 2026 which comprise the Statement of 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 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 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.

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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report 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 materially inconsistent with the financial statements or our knowledge obtained in 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 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 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 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we have identified the principal risks of non-compliance with laws and regulations, and we have considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries, and management bias in accounting estimates. Audit procedures performed included:

- Enquiries with management for consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- Challenging assumptions made by management in their accounting estimates, in particular in relation to

stock valuation and provisions; and

- Identifying and testing material journal entries, in particular those journal entries posted with unusual account combinations, journal entries crediting revenue, journal entries crediting cash and journal entries with specific defined descriptions.

There are inherent limitations in the audit procedures described above. The more removed non-compliance with laws and regulations is, from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, 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 by forgery or intentional misrepresentation, for example, or through collusion.

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.

Paul Orton FCA FCCA (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP (part of the Dains Group)

First Floor, Lakeside House

4 Smith Way

Grove Park

Leicester

Leicestershire

LE19 1SX

16 October 2026

TURNOVER

4

14,721,726

13,976,852

Cost of sales

(11,728,119

)

(11,312,741

)

GROSS PROFIT

2,993,607

2,664,111

Administrative expenses

(2,880,508

)

(2,863,516

)

113,099

(199,405

)

Other operating income

4,247

3,901

OPERATING PROFIT/(LOSS) and

PROFIT/(LOSS) BEFORE TAXATION

117,346

(195,504

)

Tax on profit/(loss)

8

7,864

38,918

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

125,210

(156,586

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

125,210

(156,586

)

FIXED ASSETS

Intangible assets

10

25,968

32,290

Tangible assets

11

7,493

9,348

33,461

41,638

CURRENT ASSETS

Stocks

12

3,330,104

2,952,194

Debtors

13

2,733,929

2,351,644

Cash at bank and in hand

11,060

14,887

6,075,093

5,318,725

CREDITORS

Amounts falling due within one year

14

(5,744,944

)

(5,014,463

)

NET CURRENT ASSETS

330,149

304,262

TOTAL ASSETS LESS CURRENT LIABILITIES

363,610

345,900

PROVISIONS FOR LIABILITIES

17

-

(5,000

)

NET ASSETS

363,610

340,900

CAPITAL AND RESERVES

Called up share capital

18

200

200

Retained earnings

363,410

340,700

SHAREHOLDERS' FUNDS

363,610

340,900

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2026 and were signed on its behalf by:

G R Mann - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2024

200

620,286

620,486

Changes in equity

Dividends

-

(123,000

)

(123,000

)

Total comprehensive income

-

(156,586

)

(156,586

)

Balance at 31 March 2025

200

340,700

340,900

Changes in equity

Dividends

-

(102,500

)

(102,500

)

Total comprehensive income

-

125,210

125,210

Balance at 31 March 2026

200

363,410

363,610

Cash flows from operating activities

Cash generated from operations

1

(62,419

)

(197,360

)

Finance costs paid

(125,297

)

(108,096

)

Tax paid

44,232

(473

)

Net cash from operating activities

(143,484

)

(305,929

)

Cash flows from investing activities

Purchase of intangible fixed assets

(2,327

)

(35,620

)

Purchase of tangible fixed assets

(5,460

)

(4,598

)

Sale of intangible fixed assets

1,682

-

Net cash from investing activities

(6,105

)

(40,218

)

Cash flows from financing activities

Loan advances/(repayments)

187,730

355,962

Net movement on invoice discounting

60,532

(116,364

)

Equity dividends paid

(102,500

)

(123,000

)

Net cash from financing activities

145,762

116,598

Decrease in cash and cash equivalents

(3,827

)

(229,549

)

Cash and cash equivalents at beginning of year

2

14,887

244,436

Cash and cash equivalents at end of year

2

11,060

14,887

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

2026

2025

£

£

Profit/(loss) before taxation

117,346

(195,504

)

Depreciation charges

14,282

18,381

Finance costs

125,297

108,096

256,925

(69,027

)

Increase in stocks

(377,910

)

(150,648

)

Increase in trade and other debtors

(423,653

)

(371,001

)

Increase in trade and other creditors

482,219

393,316

Cash generated from operations

(62,419

)

(197,360

)

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 31 March 2026

31/3/26

1/4/25

£

£

Cash and cash equivalents

11,060

14,887

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

14,887

244,436

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/4/25

Cash flow

At 31/3/26

£

£

£

Net cash

Cash at bank and in hand

14,887

(3,827

)

11,060

14,887

(3,827

)

11,060

Debt

Debts falling due within 1 year

(805,206

)

(60,531

)

(865,737

)

(805,206

)

(60,531

)

(865,737

)

Total

(790,319

)

(64,358

)

(854,677

)

1.	STATUTORY INFORMATION

Pure Table Top Ltd is a private limited company, registered in England and Wales. Its registered office address is The Cherry Shed, Tugby Orchards Wood Lane, Tugby, Leicester, LE7 9WE and the registered number is 08945856.

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 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 £.

Going concern

At 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. Continuation of trade depends on the continual support of its parent company Wing See Company Ltd (registered in Hong Kong) and H M R Rawson. Should the company be unable to continue to trade, adjustment would have to be made to reduce the value of the assets to their recoverable amounts and to provide for any further liabilities which may arise.

Turnover

Revenue is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Rendering of goods

The company supplies products to customers from its warehouses, under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of 5 years.

Tangible fixed assets

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

Depreciation is charged as so to allocate the cost of assets less their residual value over their estimated useful lives, depreciation is provided on the following annual rates:

Plant and machinery

33% on cost

Fixtures and fittings

33% on cost

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Stocks

Stocks are stated at the lower of cost plus direct costs of purchase and net realisable value. Cost is based on the cost of purchase including an uplift for freight and/or duty costs, on an average basis.

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.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation

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

Current 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

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.

Foreign currencies

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 into sterling at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leasing

Rentals payable under operating leases, including any lease incentives received, are charged to income 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 lease asset are consumed.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Employee benefits

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.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

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 estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

(i) Stock provisioning

The company has products which are subject to changing consumer demands. As a result it is necessary to consider the recoverability of the cost of the stock and the associated provisioning required. When calculating the stock provision, management considers the nature, age and condition of the stock, as well as applying assumptions around the saleability/useability of the stock. See note 12 for the net of provisioning carrying amount of stock.

4.

TURNOVER

The turnover and profit (2025 - loss) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2026

2025

£

£

United Kingdom

13,113,782

12,500,571

Europe

199,114

34,378

Rest of the World

1,408,830

1,441,903

14,721,726

13,976,852

5.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

1,317,047

1,279,029

Social security costs

164,334

129,123

Other pension costs

61,664

61,337

1,543,045

1,469,489

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

2026

2025

Directors

4

4

Sales

13

12

Admin

5

8

Product

7

8

29

32

6.	DIRECTORS' EMOLUMENTS

2026

2025

£

£

Directors' remuneration

140,845

133,232

Directors' pension contributions to money purchase schemes

10,836

10,798

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

7.	OPERATING PROFIT/(LOSS)

The operating profit (2025 - operating loss) is stated after charging:

2026

2025

£

£

Depreciation - owned assets

7,315

15,051

Trademarks amortisation

6,967

3,330

Auditors' remuneration

14,750

14,000

Foreign exchange differences

28,177

43,035

8.

TAXATION

Analysis of the tax credit

The tax credit on the profit for the year was as follows:

2026

2025

£

£

Current tax:

Adjustment to prior years

(2,864

)

(38,918

)

Deferred tax

(5,000

)

-

Tax on profit/(loss)

(7,864

)

(38,918

)

Reconciliation of total tax credit included in profit and loss

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

2026

2025

£

£

Profit/(loss) before tax

117,346

(195,504

)

Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

29,337

(48,876

)

Effects of:

Expenses not deductible for tax purposes

4,568

4,964

Adjustments to tax charge in respect of previous periods

(2,864

)

(38,918

)

enhanced deduction

Deferred tax adjustment

(5,000

)

-

Depreciation in excess of capital allowances

424

2,527

Fixed asset loss on disposal

421

-

Trading losses utilised/carried forward

(34,750

)

41,385

Total tax credit

(7,864

)

(38,918

)

9.

DIVIDENDS

2026

2025

£

£

Ordinary A shares of £1 each

Interim

102,500

123,000

10.	INTANGIBLE FIXED ASSETS

Trademarks

£

COST

At 1 April 2025

35,620

Additions

2,327

Disposals

(1,682

)

At 31 March 2026

36,265

AMORTISATION

At 1 April 2025

3,330

Amortisation for year

6,967

At 31 March 2026

10,297

NET BOOK VALUE

At 31 March 2026

25,968

At 31 March 2025

32,290