REGISTERED NUMBER: 12712658 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

THE INTSOL GROUP LTD

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

A S Kounnis

P D A Karras

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

12712658 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Level 5A

Maple House

149 Tottenham Court Road

London

W1T 7NF

The directors present their strategic report of the company and the group for the year ended 31 October 2025.

REVIEW OF BUSINESS

The principle activities of the group in the year under review was that of recruitment services, property investment and related services.

The turnover for the year decreased by approximately 37% to £49,990,069 (2024: £79,967,088). Given the decrease of 11% from financial year 2023 to 2024, this is a significant decrease in current financial year.

The gross profit margin has increased to 19% (2024: 13%).

The group has managed to achieve pre-tax profits for the year of £3,539,702 (2024: £3,437,080).

PRINCIPAL RISKS AND UNCERTAINTIES

Financial risk management objectives

The group's risk management policy has been to identify the principal business risks in achieving the company's strategic objectives, establishing appropriate internal controls to manage those risks and ensuring that appropriate monitoring and reporting systems are in place. These controls are continually reviewed and where necessary improved.

The group's principal financial instruments comprise cash and cash equivalent balances, trade payables and trade receivables. The main purpose of these instruments is to fund the group's operations. The group does not enter into or trade financial instruments, including derivative financial instruments of a speculative nature.

The group's approach to managing risks applicable to the financial instruments concerned is shown below:

Price risk

As a recruitment services provider the group does not take positions which exposes it to price risk.

Foreign currency risk

The group's income and expenditure are predominantly in sterling. The group is not therefore materially exposed to foreign currency risk. The group does not currently hold assets denominated in currencies other than sterling, therefore it is not exposed to currency risk on fluctuations due to the changes in exchange rates.

The directors are responsible for managing the group's exposure to foreign currency risk should it arise, by monitoring the exposure on all foreign currency denominated assets and liabilities.

Interest rate risk

The group's borrowings are at a fixed rate of interest above the Bank of England base rate, therefore limiting interest rate risk to movement in the base rate.

Should interest rates change with all other variables remaining constant, any change in the net assets attributable to the group would have no material impact on the financial statements, given the low levels of borrowings held on the balance sheet.

Credit risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the group. The group has sufficient level of credit insurance in place,suffered no material credit losses during the period under review and had no significant exposure to trade receivables at the end of the reporting period.

The group has adopted a policy of only dealing with creditworthy counterparties.The group manages counterparty risk as far as possible given the current global economic conditions and by undertaking credit risk checks.

Credit risk exposure also arises on cash balances held on deposit. The credit risk on these liquid funds is mitigated as far as possible as the financial assets are held at major international banking companies with reported substantial financial strength and high-grade credit ratings assigned by international credit-rating agencies.

Trade and other receivables are managed in respect of cash flow risk by regularly monitoring the amounts outstanding and calling on funds to enable the group to meet payments as they fall due.

Other than the above the company does not have significant credit risk exposure to any single counterparty.

Invoice factoring risk

Group uses invoice factoring services for its cash flow needs. Invoice factoring risk refers to the potential financial uncertainties associated with selling accounts receivable to a third party wanting immediate cash. The group has adopted a policy of only dealing with creditworthy counterparties. The group manages counterparty risk as far as possible given the current global economic conditions and by undertaking credit risk checks including ongoing credit monitoring of existing counterparties.

Liquidity risk

Liquidity risk refers to the risk of not having sufficient resources to enable the group to meet its obligations as they fall due.

Responsibility for liquidity risk management rests with the directors, who manage the group's short, medium and long-term funding and liquidity management requirements. The group manages liquidity risk by continuously monitoring forecast and actual cash flows and matching the maturity profile of financial assets and liabilities.

The directors consider trade payables' liquidity risk to be the most significant risk and this is managed by ensuring sufficient funds are available to meet amounts due as they fall payable. All of the group's

trade and other payables are on demand.

The group aims to maintain a level of liquidity that is prudent to meet the group's needs at all times and the directors regularly monitor cash flow and management accounts to ensure that the company maintains adequate working capital.

There were no capital commitments at the end of the reporting period.

Reputational risk

Reputational risk relates to how an event or action can negatively affect the perception of the group by relevant stakeholders including customers, business partners, shareholders, and employees. A reputational risk assessment was undertaken, and a strategy implemented, including a monitoring system, staff training and an online presence to promote the positive culture within the business. Reputational risks can vary, and it is important to the business to maintain ongoing regular assessments of the potential risks and strategy.

KEY PERFORMANCE INDICATORS

The directors consider the following as key performance indicators

2025

2024

£

£

Turnover

49,990,069

79,967,088

Gross Profit

9,712,507

10,304,688

Gross Margin

19%

13%

Profit Before Taxation

3,539,702

3,437,080

Net Assets

9,478,373

7,882,545

The group also monitors its performance by tracking other non-financial indicators that we believe are important to our long term success.

Compliance with relevant laws and regulations to its operations are closely followed. The group has also created a positive and challenging work environment by encouraging feedback from employees and use it as a tool to drive business performance.

KEY STRATEGY AND FUTURE DEVELOPMENTS

The Directors have built a strong brand and reputation by providing first class service in recruitment industry. This is achieved by aligning ourselves closely with our clients, ensuring we have a full understanding of their requirements. Our strategy is to continue to specialise in our principle activities, maintain our brand reputation whilst managing the risk areas across our business

FINANCIAL POSITION

The Group is in good health and allows expansion of the business from its own resources. The results for the year and the financial position at the year-end were considered satisfactory by the directors who expect controlled growth and profitability to continue in the forseeable future.

The directors are confident that the group will be able to strengthen its financial position by building on its current portfolio of contracts and grow the business with both existing and new clients in the future.

ON BEHALF OF THE BOARD:

A S Kounnis - Director

29 October 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 October 2025.

DIVIDENDS

An interim dividend of £5,480 per share was paid on 31 July 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 October 2025 will be £ 1,096,000 .

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

A S Kounnis

P D A Karras

POLITICAL DONATIONS AND EXPENDITURE

Group made number of smaller donations to various local charities to support their causes totalling £13,338 (2024: £6,908). No political donations were made by the company during the year.

DISCLOSURE IN THE STRATEGIC REPORT

Future developments, financial position and key performance indicators have been disclosed in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A S Kounnis - Director

29 October 2026

Opinion

We have audited the financial statements of The Intsol Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 October 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 five, 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 group's and the parent 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 group or the parent 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.

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 laws 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 discussions with directors and other management, and from our commercial knowledge and experience of the recruitment services, property investment and driver training sectors;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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 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.

Robert Perez (FCA) (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Level 5A

Maple House

149 Tottenham Court Road

London

W1T 7NF

29 October 2026

REVENUE

3

49,990,069

79,967,088

Cost of sales

40,277,562

69,662,400

GROSS PROFIT

9,712,507

10,304,688

Administrative expenses

5,662,095

6,103,778

4,050,412

4,200,910

Other operating income

11,456

61,540

OPERATING PROFIT

5

4,061,868

4,262,450

Loan written off

6

8,319

-

4,053,549

4,262,450

Income from interest in associated undertakings

9,317

94,980

Interest receivable and similar income

88,212

66,466

97,529

161,446

4,151,078

4,423,896

Gain/loss on revaluation of investment property

-

(600,176

)

4,151,078

3,823,720

Interest payable and similar expenses

7

611,376

386,640

PROFIT BEFORE TAXATION

3,539,702

3,437,080

Tax on profit

8

850,499

989,216

PROFIT FOR THE FINANCIAL YEAR

2,689,203

2,447,864

Profit attributable to:

Owners of the parent

2,750,495

2,585,899

Non-controlling interests

(61,292

)

(138,035

)

2,689,203

2,447,864

PROFIT FOR THE YEAR

2,689,203

2,447,864

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,689,203

2,447,864

Total comprehensive income attributable to:

Owners of the parent

2,750,496

2,585,899

Non-controlling interests

(61,293

)

(138,035

)

2,689,203

2,447,864

FIXED ASSETS

Intangible assets

11

680,137

777,299

Property, plant and equipment

12

494,492

514,621

Investments

13

Interest in associate

901,705

1,087,703

Investment property

14

9,090,904

9,067,229

11,167,238

11,446,852

CURRENT ASSETS

Inventories

15

2,000

8,173

Debtors

16

11,376,278

9,515,097

Cash at bank and in hand

1,785,737

1,525,615

13,164,015

11,048,885

CREDITORS

Amounts falling due within one year

17

11,199,188

11,956,794

NET CURRENT ASSETS/(LIABILITIES)

1,964,827

(907,909

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,132,065

10,538,943

CREDITORS

Amounts falling due after more than one year

18

(3,615,956

)

(2,623,585

)

PROVISIONS FOR LIABILITIES

22

(37,736

)

(32,813

)

NET ASSETS

9,478,373

7,882,545

CAPITAL AND RESERVES

Called up share capital

23

200

200

Share premium

24

1,701,624

1,701,624

Other reserves

24

2,028,305

2,028,305

Retained earnings

24

5,476,490

3,821,995

SHAREHOLDERS' FUNDS

9,206,619

7,552,124

NON-CONTROLLING INTERESTS

25

271,754

330,421

TOTAL EQUITY

9,478,373

7,882,545

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2026 and were signed on its behalf by:

A S Kounnis - Director

FIXED ASSETS

Intangible assets

11

-

-

Property, plant and equipment

12

-

-

Investments

13

2,960,892

2,960,892

Investment property

14

-

-

2,960,892

2,960,892

CURRENT ASSETS

Debtors

16

8,051,200

5,031,224

Cash at bank and in hand

4,350

1,126

8,055,550

5,032,350

CREDITORS

Amounts falling due within one year

17

813,574

2,129,333

NET CURRENT ASSETS

7,241,976

2,903,017

TOTAL ASSETS LESS CURRENT LIABILITIES

10,202,868

5,863,909

CREDITORS

Amounts falling due after more than one year

18

-

230,000

NET ASSETS

10,202,868

5,633,909

CAPITAL AND RESERVES

Called up share capital

23

200

200

Retained earnings

24

10,202,668

5,633,709

SHAREHOLDERS' FUNDS

10,202,868

5,633,909

Company's profit for the financial year

5,664,959

1,678,447

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2026 and were signed on its behalf by:

A S Kounnis - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 November 2023

200

2,051,096

1,701,624

Changes in equity

Dividends

-

(815,000

)

-

Total comprehensive income

-

2,585,899

-

Balance at 31 October 2024

200

3,821,995

1,701,624

Changes in equity

Dividends

-

(1,096,000

)

-

Total comprehensive income

-

2,750,495

-

Balance at 31 October 2025

200

5,476,490

1,701,624

Other

Non-controlling

Total

reserves

Total

interests

equity

£

£

£

£

Balance at 1 November 2023

2,176,182

5,929,102

612,435

6,541,537

Changes in equity

Equity adjustments

(147,877

)

(147,877

)

(138,122

)

(285,999

)

Dividends

-

(815,000

)

(5,857

)

(820,857

)

Total comprehensive income

-

2,585,899

(138,035

)

2,447,864

Balance at 31 October 2024

2,028,305

7,552,124

330,421

7,882,545

Changes in equity

Dividends

-

(1,096,000

)

2,626

(1,093,374

)

Total comprehensive income

-

2,750,495

(61,293

)

2,689,202

Balance at 31 October 2025

2,028,305

9,206,619

271,754

9,478,373

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 November 2023

200

4,770,262

4,770,462

Changes in equity

Dividends

-

(815,000

)

(815,000

)

Total comprehensive income

-

1,678,447

1,678,447

Balance at 31 October 2024

200

5,633,709

5,633,909

Changes in equity

Dividends

-

(1,096,000

)

(1,096,000

)

Total comprehensive income

-

5,664,959

5,664,959

Balance at 31 October 2025

200

10,202,668

10,202,868

Cash flows from operating activities

Cash generated from operations

1

4,595,677

656,908

Interest paid

(570,041

)

(380,672

)

Interest element of finance lease payments paid

(4,232

)

(5,968

)

Finance costs paid

(37,103

)

-

Tax paid

(1,172,561

)

(1,364,409

)

Net cash from operating activities

2,811,740

(1,094,141

)

Cash flows from investing activities

Purchase of tangible fixed assets

(127,241

)

(88,541

)

Purchase of fixed asset investments

-

(640,000

)

Purchase of investment property

(23,675

)

(126,069

)

Sale of tangible fixed assets

-

1,999

Interest received

88,212

66,466

Dividends received

39,289

94,980

Net cash from investing activities

(23,415

)

(691,165

)

Cash flows from financing activities

New loans in year

1,558,900

710,000

Loan repayments in year

(1,163,092

)

(457,781

)

Loans to related undertakings

259,560

(666,320

)

Loans to associates

(143,293

)

143,293

Finance leases in the year

(23,110

)

(43,766

)

Amount introduced by directors

2,037,959

2,648,757

Amount withdrawn by directors

(3,959,127

)

(2,851,843

)

Equity dividends paid

(1,096,000

)

(815,000

)

Net cash from financing activities

(2,528,203

)

(1,332,660

)

Increase/(decrease) in cash and cash equivalents

260,122

(3,117,966

)

Cash and cash equivalents at beginning of year

2

1,525,615

4,643,581

Cash and cash equivalents at end of year

2

1,785,737

1,525,615

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

3,539,702

3,437,080

Depreciation charges

244,530

237,408

Loss on disposal of fixed assets

-

20,268

Loss on revaluation of fixed assets

-

600,176

Loan written off

8,319

-

Losses from associate

156,025

-

Finance costs

611,376

386,640

Finance income

(97,529

)

(161,446

)

4,462,423

4,520,126

Decrease/(increase) in inventories

6,173

(8,173

)

Decrease in trade and other debtors

607,645

4,098,469

Decrease in trade and other creditors

(480,564

)

(7,953,514

)

Cash generated from operations

4,595,677

656,908

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 October 2025

31.10.25

1.11.24

£

£

Cash and cash equivalents

1,785,737

1,525,615

Year ended 31 October 2024

31.10.24

1.11.23

£

£

Cash and cash equivalents

1,525,615

4,643,581

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.11.24

Cash flow

At 31.10.25

£

£

£

Net cash

Cash at bank and in hand

1,525,615

260,122

1,785,737

1,525,615

260,122

1,785,737

Debt

Finance leases

(54,886

)

23,110

(31,776

)

Debts falling due within 1 year

(1,876,573

)

619,673

(1,256,900

)

Debts falling due after 1 year

(2,591,809

)

(1,015,481

)

(3,607,290

)

(4,523,268

)

(372,698

)

(4,895,966

)

Total

(2,997,653

)

(112,576

)

(3,110,229

)