ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

Registered number: 03609982

PETER HARRINGTON LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025


PETER HARRINGTON LIMITED

COMPANY INFORMATION

Directors	P Harrington
	J Jameson


Company secretary	E O'Domhnaill


Registered number	03609982


Registered office
	1 - 3 Regal Place
	London
	SW6 2HD


Independent auditor	Grant Thornton UK LLP
	Chartered Accountants & Statutory Auditor
	8 Finsbury Circus
	London
	EC2M 7EA


PETER HARRINGTON LIMITED

CONTENTS

	Page
Group Strategic Report	1 - 4
Directors' Report	5 - 7
Independent Auditor's Report	8 - 12
Consolidated Statement of Comprehensive Income	13
Consolidated Balance Sheet	14
Company Balance Sheet	15
Consolidated Statement of Changes in Equity	16
Company Statement of Changes in Equity	17
Consolidated Statement of Cash Flows	18 - 19
Notes to the Financial Statements	20 - 43


PETER HARRINGTON LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present the Strategic Report for the year ended 31 December 2025.

Business review

We aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

Peter Harrington continues to deal in antiquarian books, prints and ephemera, fine bindings and works of art. We also provide framing and binding services.

Principal risks and uncertainties

Peter Harrington Limited operates primarily at the premium end of the antiquarian book market. As such, we trade in higher value, rarer, specialist and best quality items which are selected to provide the most attractive offer both to existing clients and to discerning new customers. We consider the risk of investing in higher value items and collections is offset by greater stability at the high end of the market and by our many years of experience with books and clients at this level and are seeing the rewards of this strategy in our growing turnover.

We invest in employee development and welfare and experience very low staff turnover, ensuring experience is retained and grown and that we are not exposed to loss of key skills. We strive continually to improve and extend our reach through expanding our geographical markets and embracing technologies to ensure our business remains relevant to modern life and meets customer needs, using data to inform decision making. We also pride ourselves on a high standard of customer service. Finally, we are aware of the need to maintain effective physical and cyber security to protect our business and assets and are pleased to have acquired a freehold property for use in the business, adding physical capacity and providing security.

Key performance indicators

The financial key performance indicators which best demonstrate the strength of the company as a whole are our turnover, gross margin and average selling price.

Turnover is comprised of direct sales, sales made via third parties and commissions. We are pleased to report that sales and profitability continues to grow and that average price per item remains high.

Our portfolio of clients, sales mix, marketing strategy and online sales development gives us confidence that 2026 will be another year of growth and strong performance.

	2025	2024
Turnover	£40,336,777	£36,899,638
Gross margin	33.25%	32.60%
Average price per item	£4,938	£4,303
Total items sold	8,329	8,575

Page 1


PETER HARRINGTON LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Section 172 statement

Our section 172 statement summarises how the board has factored stakeholder considerations into our decision-making.

Section 172 of the Companies Act 2006 (the Act) imposes a duty on a director to act in a way that he or she considers, in good faith, would be most likely to promote the long-term success of the company for the benefit of its members as a whole. In doing so, the directors have regard to the various matters including the interests of stakeholders as well as various other matters. The Companies (Miscellaneous Reporting) Regulations 2018 require companies to report on how the board has fulfilled the requirements of Section 172(1), including how the board has factored stakeholder considerations into its decision-making.

The board is fully aware of and supports these requirements. We are pleased to describe below how the Group board engages with our stakeholders.

The group’s key stakeholders have an important role to play in the successful operation of our business. Our board are fully aware of, and take seriously, their responsibilities to those stakeholders under the Act.

We believe that it is appropriate to consider the potential impact on our stakeholders when considering the group’s strategy and in making our key decisions. Indeed, these responsibilities are rooted in our culture, values and company purpose. The board considers that, in its decisions and actions to date, it has acted in a way that would promote the success of the group for the benefit of its members as a whole, while having regard to stakeholders and matters set out in Section 172(1) (a–f) of the Act.

It has identified the group’s key stakeholders as our employees, customers, suppliers and vendors, the environment and communities in which we operate. It receives updates on each of these and takes steps to ensure that it remains well informed about them. The Group Directors [AN2.1]believe strongly in doing business in the right way, with all its decisions underpinned by the impact they have on our five main stakeholder groups.

The following narrative summarises our approach.

Long-term decision-making

The board has put in place a structured governance model, with scheduled board meetings and clear documentation and authority levels to control its decision-making process. Our governance model supports the group in ensuring that decisions are considered, documented and reported upon, and in alignment with our strategic plans. Detailed budgets and reforecasts are prepared to enable the board to track performance and ensure that it is as expected, or that mitigation steps are taken to deliver performance in line with, or close to, expectations. The board and individual directors operate within this structure, with the aim of promoting the success of the company and delivering long term shareholder value. Business proposals are documented in line with, and performance tracked against, levels of authority.

High standards of business conduct

We have a Code of Conduct setting out the behaviours and values expected of all of our employees. We have processes to update our board and management on the operation of our code and employees are encouraged to anonymously raise concerns. Through its oversight and monitoring role, the board requires all of our people to work to the highest standards of business conduct. Our focus is to do what is right ahead of what is easy. This is supported through ongoing communication and awareness of, and training in, acceptable company conduct. Any reports of inappropriate behaviour are independently investigated, and action taken where necessary.

We set out below how the board has engaged with, and been influenced by, the interests of our different stakeholders. Such engagements have been well established in the group for several years.

Page 2


PETER HARRINGTON LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Section 172 statement (continued)

Stakeholder engagement

Employee engagement

We consider that our employees act with the utmost integrity and professional expertise in providing our customers with excellent service with the utmost care and attention. In doing so, the board considers that its employees are both rewarded fairly and incentivised to deliver the group’s strategy.

The board is kept informed on employee related matters at every Board meeting at which it receives a standing agenda update from the group’s HR Manager. Consultation with employees happens when their views need to be considered in decisions the group needs to make that will likely affect their interests. All employees are kept abreast of group news and financial performance in regular business updates. There is also ongoing communication through the Group’s Intranet, notice boards, newsletters and team briefings.

Customers

The global reach of Peter Harrington Ltd means we have a varied and increasing customer base. We engage with them through printed catalogues, email campaigns, attending rare book fairs and trade shows around the world along with regular targeted events at our retail outlets. By having these regular contact points with our customers we get to know our customers and can be confident that we have identified the appropriate customer needs that require addressing. From a risk management perspective, before entering into business with new customers full background checks are carried out which include reviews for potential financial risks.

Suppliers

We have built good relationships with our suppliers and pay promptly for items supplied. Our stock items are all carefully specified, and our suppliers are evaluated in accordance with our guidelines on the environment, work environment, human rights, business ethics and quality. Other third parties that are of great importance to the group include our professional advisers, bankers and our various regulators.

The board places the utmost importance on the integrity of our supplier agreements with a focus on the robustness of supply of goods and services. All third party suppliers are regularly scrutinised so as to ensure that there are no matters that could potentially harm our reputation or be financially damaging to us. All agreements with third parties are set out in writing with clearly documented terms and conditions that cover, amongst other things, levels of service, payment terms and working practices.

Our community and the environment

Our underlying business ethos is to do what is right ahead of what is easy. This is especially so when it comes to the local communities in which we operate and the impact that we have on the environment in which we all live. We actively encourage all of our employees to give back to community in whichever way they feel the most comfortable. The group supports the charity, The Peter Harrington Foundation, by donating 1% of group profits to support its aims.

Our board and our senior management colleagues are aware of the effect that our operations and those who provide us with goods and services have on the environment and seek to minimise our impact. We monitor our own CO2 emissions and encourage energy efficiency where possible. We have developed a new office to come into use during 2026 and this site is equipped with solar panels and other energy efficient methods to continue to reduce our own carbon footprint.

The board recognise, however, that the sector has inherent challenges. Packaging and international shipping of catalogues and books generate both carbon and waste. With many rare books being of high value, product protection is our first priority when considering packaging and transport options. We try to carefully balance options that may reduce the packaging’s carbon footprint (e.g. through material selection, or improved recyclability) with aspects such as durability and moisture protection.

Page 3


PETER HARRINGTON LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

This report was approved by the board and signed on its behalf.

P Harrington

Director

Date: 30 September 2026

Page 4


PETER HARRINGTON LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their report and the financial statements for the year ended 31 December 2025.

Principal activity

The principal activity is an antiquarian book seller, book binding and print seller.

Results and dividends

The profit for the year, after taxation, amounted to £2,300,778 (2024: £3,108,780).

A dividend of £590,000 was paid in the year (2024: £900,000).

Directors

The directors who served during the year, and up to the date of signing this report, were:

P Harrington

J Jameson

Qualifying third party indemnity provisions

There is no qualifying third party indemnity insurance to disclose.

Going concern

The directors have reviewed the group's financial position, including cash resources, forecast performance, and access to financing through its bank facilities. The directors have prepared cash flow forecasts covering a period of at least 12 months from the date of this report. These forecasts indicate that the group is expected to have sufficient resources to meet its obligations as they fall due.

After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future (being a period of at least 12 months from the date of approval of the 2025 financial statements). The group therefore continues to adopt the going concern basis in preparing its financial statements.

Streamlined Energy and Carbon Reporting (SECR) report

The section below presents the energy usage and associated carbon dioxide emissions for Peter Harrington Limited's operations that are based in the UK. The group has taken the exemption available from including overseas subsidiaries. This section has been prepared in compliance with the SECR framework as implements in the Companies (Directors; Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

GHG Emissions

	Units	2025	2024
Emissions from combustion of gas (scope 1)	tCO2e	15,431	18,784
Emissions from consumption of fuel for transport (scope 1)	tCO2e	300	250
Emissions from purchased electricity (Scope 2)	tCO2e	15,021	16,842
Emissions from business travel in rental cars or employee owned vehicles where company is responsible for purchasing	tCO2e	75	50

Total Gross emissions	tCO2e	30,828	35,926
Energy consumption used to calculate above emissions	KWh	161,017	174,010

Page 5

PETER HARRINGTON LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Streamlined Energy and Carbon Reporting (SECR) report (continued)

Intensity rations have been calculated from the value of turnover and include all of the energy usage and emissions stated within the values reported above and in accordance with the methodology applied

Emissions	Units	2025	2024
Sales		£40,336,777	£36,899,638
Intensity Ratio	tCO2e/£ sales	0.00075	0.00097

Methodologies

The HM Government Environmental Reporting Guidelines including Streamlined Energy and Carbon Reporting guidance published in March 2019 has been followed. Carbon emissions have been calculated in accordance with the GHG Protocol Corporate Accounting Standard using the DEFRA emissions factors.

Energy efficiency

The group continues to focus on reducing energy consumption and carbon emissions. The group has been developing a new office that encompasses solar energy, double glazed windows to reduce heat loss and energy efficient equipment (such as and LED lighting). This will come into use during 2026. In addition significant investments have been made over the past year to improve efficiency and reduce the group's carbon footprint

Future developments

The directors remain strongly focused on the continued execution of the company's long term growth strategy. Investment will continue across all channels reflecting the company's commitment to building a modern luxury brand with global reach. Alongside this, the operating model will continue to be refined and scaled, supported by rigorous financial discipline.

Matters covered in the Group Strategic Report

As permitted under s414C(11) of the Companies Act 2006, the Directors have included information in the Strategic Report that otherwise would be required under s416(4) to be disclosed in the Director's Report, including information in respect of business activities, principal risks and uncertainties and future developments.

Subsequent events

There have been no post balance sheet events to disclose.

Page 6

PETER HARRINGTON LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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, including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’). 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 and profit or loss of the company and 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;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group 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 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.

Disclosure of information to auditor

The directors confirm that:

∙so far as each director is aware, there is no relevant audit information of which the company and the group's auditor is unaware; and

∙the directors have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and the group's auditor is aware of that information.

Auditor

The auditor, Grant Thornton UK LLP, was appointed during the period and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

P Harrington

Director

Date: 30 September 2026

Page 7

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PETER HARRINGTON LIMITED

Opinion

We have audited the financial statements of Peter Harrington Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity, the Consolidated Statement of Cash Flows and 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's affairs as at 31 December 2025 and of the group's profit for the year then ended;

∙the financial statements have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙the financial statements 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 'Auditor's responsibilities for the audit of the financial statements' section of our report. We are independent of the group and the parent 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

We are responsible for concluding on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's and the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.

In our evaluation of the directors' conclusions, we considered the inherent risks associated with the group's and the parent company's business model including effects arising from macro-economic uncertainties such as the impact of cost inflation, we assessed and challenged the reasonableness of estimates made by the directors and the related disclosures and analysed how those risks might affect the group's and the parent company's financial resources or ability to continue operations over the going concern period.

Page 8

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PETER HARRINGTON LIMITED (CONTINUED)

Conclusions relating to going concern (continued)

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 other information comprises the information included in the Annual Report and financial statements, other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report and financial statements. 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.

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 there is 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.

Page 9

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PETER HARRINGTON LIMITED (CONTINUED)

Matter on which we are required to report under the Companies Act 2006

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which 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 Directors' Responsibilities Statement set out on page 7, 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 is 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.

Page 10

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PETER HARRINGTON LIMITED (CONTINUED)

Auditor's 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 Auditor's 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

∙We obtained an understanding of the legal and regulatory frameworks applicable to the company and determined that the following laws and regulations were most significant: Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, the Companies Act 2006 and tax legislations in the UK.

∙In addition, we concluded that there are certain significant laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements, being those laws and regulations relating to employee matters, environmental matters, and bribery and corruption matters.

∙We enquired with management about the group's policies and procedures relating to the identification, evaluation and compliance with laws and regulations and the detection and response to the risks of fraud and the establishment of internal controls to mitigate risks related to fraud or non-compliance with laws and regulations and the results of these enquiries were communicated to the audit team. We corroborated our inquiries through our review of board minutes.

∙We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur and the risk of management override of controls. Audit procedures performed by the engagement team included:

−identifying and assessing the design and implementation of controls that management has in place to prevent and detect fraud;

−identifying and testing journal entries posted in the year with a focus on material non-routine journals, including those with unusual account combinations and those that were posted outside of the usual accounting process cycle; and

−challenging assumptions and judgements made by management in its significant accounting estimates.

∙These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it.

Page 11

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PETER HARRINGTON LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements (continued)

∙The engagement partner's assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the group audit team members':

−understanding of, and practical experience with, audit engagements of a similar nature and complexity, through appropriate training and participation; and

−knowledge of the industry in which the client operates.

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 Auditor's 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 Auditor's 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.

Cecile Leboyan ACCA

Senior Statutory Auditor

for and on behalf of Grant Thornton UK LLP

Statutory Auditor, Chartered Accountants

London

30 September 2026

Page 12


PETER HARRINGTON LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£	£


Turnover	4	40,336,777	36,899,638
Cost of sales		(26,924,766)	(24,869,802)
Gross profit		13,412,011	12,029,836
Administrative expenses		(9,674,476)	(8,050,747)
Other operating income	5	61,156	24,727
Operating profit	6	3,798,691	4,003,816
Share of results of joint ventures		181	(1,452)
Interest receivable and similar income	10	39,756	59,431
Interest payable and similar expenses	11	(78,800)	-
Profit before taxation		3,759,828	4,061,795
Tax on profit	12	(1,459,050)	(953,015)
Profit for the financial year		2,300,778	3,108,780

Profit for the year attributable to:
Owners of the parent company		2,300,778	3,108,780

There were no recognised gains and losses for 2025 or 2024 other than those included in the Consolidated Statement of Comprehensive Income.

There was no other comprehensive income for 2025 (2024: £Nil).

The notes on pages 20 to 43 form part of these financial statements.

Page 13


PETER HARRINGTON LIMITED REGISTERED NUMBER:03609982

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	14		8,454,049		5,187,969
Investments	15		349,480		349,300
			8,803,529		5,537,269
Current assets
Stocks	16	18,362,441		18,777,537
Debtors	17	4,064,237		5,544,727
Cash at bank and in hand		3,098,409		1,357,080
		25,525,087		25,679,344
Creditors: amounts falling due within one year	18	(5,900,160)		(5,139,786)
Net current assets			19,624,927		20,539,558
Provisions for liabilities
Deferred taxation	20		(640,851)		-
Net assets			27,787,605		26,076,827

Capital and reserves
Called up share capital	22	550,000	550,000
Capital redemption reserve	23	1,587,963	1,587,963
Profit and loss account	23	25,649,642	23,938,864
Total equity		27,787,605	26,076,827

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P Harrington

Director

Date: 30 September 2026

The notes on pages 20 to 43 form part of these financial statements.

Page 14


PETER HARRINGTON LIMITED REGISTERED NUMBER:03609982

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	14		8,344,377		5,187,969
Investments	15		100		100
			8,344,477		5,188,069
Current assets
Stocks	16	18,362,441		18,777,537
Debtors	17	4,652,469		5,920,793
Cash at bank and in hand		3,069,284		1,357,080
		26,084,194		26,055,410
Creditors: amounts falling due within one year	18	(5,879,113)		(5,137,431)
Net current assets			20,205,081		20,917,979
Provisions for liabilities
Deferred taxation	20		(640,851)		-
Net assets			27,908,707		26,106,048

Capital and reserves
Called up share capital	22	550,000	550,000
Capital redemption reserve	23	1,587,963	1,587,963
Profit and loss account	23	25,770,744	23,968,085
Total equity		27,908,707	26,106,048

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent company for the year was £2,392,659 (2024: £3,115,860).

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P Harrington

Director

Date: 30 September 2026

The notes on pages 20 to 43 form part of these financial statements.

Page 15


PETER HARRINGTON LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	550,000	1,496,287	21,821,760	23,868,047
Comprehensive income for the year
Profit for the year	-	-	3,108,780	3,108,780
Total comprehensive income for the year	-	-	3,108,780	3,108,780
Contributions by and distributions to owners
Dividends	-	-	(900,000)	(900,000)
Redemption of shares	-	91,676	(91,676)	-
Total transactions with owners	-	91,676	(991,676)	(900,000)

At 1 January 2025	550,000	1,587,963	23,938,864	26,076,827
Comprehensive income for the year
Profit for the year	-	-	2,300,778	2,300,778
Total comprehensive income for the year	-	-	2,300,778	2,300,778
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(590,000)	(590,000)
Total transactions with owners	-	-	(590,000)	(590,000)
At 31 December 2025	550,000	1,587,963	25,649,642	27,787,605

The notes on pages 20 to 43 form part of these financial statements.

Page 16


PETER HARRINGTON LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	550,000	1,496,287	21,843,901	23,890,188
Comprehensive income for the year
Profit for the year	-	-	3,115,860	3,115,860
Total comprehensive income for the year	-	-	3,115,860	3,115,860
Contributions by and distributions to owners
Dividends	-	-	(900,000)	(900,000)
Redemption of shares	-	91,676	(91,676)	-
Total transactions with owners	-	91,676	(991,676)	(900,000)

At 1 January 2025	550,000	1,587,963	23,968,085	26,106,048
Comprehensive income for the year
Profit for the year	-	-	2,392,659	2,392,659
Total comprehensive income for the year	-	-	2,392,659	2,392,659
Contributions by and distributions to owners
Dividends	-	-	(590,000)	(590,000)
Total transactions with owners	-	-	(590,000)	(590,000)
At 31 December 2025	550,000	1,587,963	25,770,744	27,908,707

The notes on pages 20 to 43 form part of these financial statements.

Page 17


PETER HARRINGTON LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	2,300,778	3,108,780
Adjustments for:
Share of operating (loss)/profit in joint ventures	(180)	1,452
Taxation charge	1,459,050	953,015
Investment income	(39,756)	(59,431)
Depreciation of tangible assets	130,454	127,276
Decrease/(increase) in stocks	415,096	(629,253)
Decrease/(increase) in debtors	1,344,066	(201,987)
Increase in creditors	463,199	202,582
Interest paid	78,800	-
Income taxes paid	(870,525)	(762,468)
Decrease in loan receivable	145,254	-
Net cash generated from operating activities	5,426,236	2,739,966

Cash flows from investing activities
Purchase of tangible fixed assets	(3,396,540)	(1,588,917)
Repayment/(advancement) of loans	-	(528,070)
Interest received	39,756	59,431
Net cash from investing activities	(3,356,784)	(2,057,556)

Page 18


PETER HARRINGTON LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

		2025	2024
		£	£


Cash flows from financing activities
Issuance of loan	456,375	-
Dividends paid	(590,000)	(900,000)
Interest paid	(78,800)	-
Repayment of preference shares	(115,698)	(91,676)
Net cash used in financing activities	(328,123)	(991,676)
Net increase/(decrease) in cash and cash equivalents	1,741,329	(309,266)
Cash and cash equivalents at beginning of year	1,357,080	1,666,346
Cash and cash equivalents at the end of year	3,098,409	1,357,080

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	3,098,409	1,357,080

The notes on pages 20 to 43 form part of these financial statements.

Page 19


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Peter Harrington Limited is a private company limited by shares, incorporated in England and Wales. Its registered number is 03609982, and its registered head office is located at 1 - 3 Regal Place, London, SW6 2HD

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgement in applying the group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions – company only

The parent company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; and

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

2.3

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 20


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Going concern

2.5

Foreign currency translation

Functional and presentation currency

The company's functional and presentation currency is GBP and all values are rounded to the nearest pound (£) except where otherwise stated.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 21


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.6

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.7

Operating leases: the group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.8

Pensions

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the group in independently administered funds.

2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 22


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property	-	2% straight line
Leasehold property	-	5% - 20% straight line
Plant and machinery	-	25% straight line
Equipment, fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line
Other fixed assets	-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Page 23


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.13

Tangible fixed assets (continued)

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.14

Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

2.15

Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Page 24


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.16

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Provision has been made in full against any items purchased more than four years before the end of the accounting period, and is charged directly to profit and loss for the period. This estimate is based on the knowledge of the experienced staff within the business.

2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.

2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.19

Financial instruments

The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's Balance Sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.

Page 25


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.19

Financial instruments (continued)

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

Page 26


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Estimates are based on historical experience and other assumptions that are considered reasonable in the circumstances. The actual amount or values may vary in certain instances from the assumptions and estimates made. Changes will be recorded, with corresponding effect in the financial statements, when, and if, better information is obtained.

Critical judgements and sources of estimation uncertainty that management have made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relate to the following:

Estimates

The directors do not deem there to be any significant estimates to disclose.

Judgements

Stocks (note 16)

Management has exercised significant judgement in assessing whether a provision for inventory obsolescence or impairment is required at the reporting date.

The judgement is based on:

∙the nature of the business and product lines;

∙historical data on sales patterns and inventory turnover;

∙current expectations that inventory will be sold at or above cost.

Management will continue to monitor inventory performance and reassess this position.

Page 27


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

	Sale of goods and binding services	40,336,777	36,899,638

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	14,799,353	9,112,109
Europe	1,519,707	1,418,863
Rest of the world	24,017,717	26,368,666
	40,336,777	36,899,638

5.	Other operating income
		2025	2024
		£	£

Rental income	23,858	24,727
Income from joint ventures	27,222	-
Other income	10,076	-
	61,156	24,727

Depreciation of tangible fixed assets	130,454	127,276
Exchange differences	42,177	45,829
Other operating lease rentals	544,948	525,658

Page 28


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Fees payable to the company's auditor for the audit of the consolidated and parent company's financial statements	42,745	18,525
Fees payable to the company's auditor in respect of:
Accounts production	7,100	-
Taxation compliance services	7,300	-

8.	Employees
	Staff costs, including directors' remuneration, were as follows:

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Wages and salaries	4,407,461	4,138,093	4,243,353	4,138,093
Social security costs	554,671	484,719	554,671	484,719
Cost of defined contribution scheme	238,358	158,115	238,358	158,115
	5,200,490	4,780,927	5,036,382	4,780,927

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Bookstores	65	60	65	60
Book binding	5	5	5	5

	70	65	70	65

Page 29


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	490,603	457,669
Group contributions to defined contribution pension schemes	39,863	6,861
	530,466	464,530

	During the year retirement benefits were accruing to 2 directors (2024: 2) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £350,000 (2024: £325,000).
	The value of the group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £34,000 (2024: £Nil).

10.	Interest receivable and similar income
		2025	2024
		£	£

Interest on bank deposits	39,756	30,095
Other interest income	-	29,336
	39,756	59,431

11.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable

78,800

Page 30


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Corporation tax
Current tax on profits for the year	809,756	953,015
Adjustments in respect of previous periods	8,443	-
	818,199	953,015

Total current tax	818,199	953,015

Deferred tax
Origination and reversal of timing differences	642,621	-
Adjustments in respect of prior periods	(1,770)	-
Total deferred tax	640,851	-


		1,459,050	953,015

Profit on ordinary activities before tax

3,759,828

4,061,795

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024: 25%)	939,957	1,015,449
Effects of:
Fixed asset differences	17,635	-
Tax effect of expenses that are not deductible in determining taxable profit	51,686	39,111
Utilised tax losses carried forward	-	1,770
Permanent capital allowances in excess of depreciation	-	(103,315)
Adjustments to tax charge in respect of prior periods - current and intercompany tax	8,443	-
Adjustments to tax charge in respect of prior periods - deferred tax	(1,770)	-
Movement in deferred tax not recognised	443,099	-
Total tax charge for the year	1,459,050	953,015

Page 31


PETER HARRINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.Taxation (continued)

Factors that may affect future tax charges

Deferred tax balances have been measured at 25%, being the enacted UK corporation tax rate applicable to future periods at the balance sheet date.

13.	Dividends
		2025	2024
		£	£

Dividends paid

590,000

900,000

Page 32