REGISTERED NUMBER: 02031289 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

FIZZ EXPERIENCE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

7

Statement of Comprehensive Income

11

Statement of Financial Position

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

D W Pinner

D R Curtis

SECRETARY:

D W Pinner

REGISTERED OFFICE:

The Atrium

Curtis Road

Dorking

Surrey

RH4 1XA

REGISTERED NUMBER:

02031289 (England and Wales)

AUDITORS:

Vista Audit LLP

Chartered Accountants

Statutory Auditor

Chancery House

3 Hatchlands Road

Redhill

Surrey

RH1 6AA

The directors present their strategic report for the year ended 31 March 2025.

PRINCIPAL ACTIVITIES AND REVIEW OF BUSINESS

The principal activity of the company during the year was that of the provision of promotion, demonstration and hygiene services.

The directors are encouraged by the improvement in financial performance with turnover increasing by 12% and profit before tax by 96%.

The directors are closely involved in the day to day running of the business and continue to look at ways to improve efficiencies to increase turnover and reduce costs.

The directors consider the principal risks and uncertainties facing the business to be:

1. Exposure to bad debts

The directors minimise the exposure to this risk by regular management reviews of trade debts and the credit worthiness of key customers.

2. Economic recession/worsening financial markets

As the business operates with low fixed overheads it is able to respond quickly to changes in the economic environment.

3. Global conflict

Many food items/commodities have increased in price and import/export routes have been affected due to global conflicts. The company operates within the UK, so the main risk at present relates to the drop in demand for its services. Management will continue to monitor any changes as they arise to ensure that any effects on the company are minimised.

FINANCIAL RISK MANAGEMENT

The company's working capital requirements are met principally out of cashflow and when necessary its invoice discounting arrangement. The company's key financial risks and the measures taken to mitigate them are outlined below:

Price risk

Due to the nature of the financial instruments used by the company there is no exposure to price risk.

Interest rate risk

The company's interest rate exposure arises mainly from its interest-bearing borrowings. The company regularly reviews its funding arrangements to ensure they are competitive within the marketplace.

Credit risk

The company's principal financial assets are bank balances and trade debtors.

The company manages its exposure to risk from credit sales by the terms of its invoice discounting facility and through continuous monitoring of new and existing customers' credit worthiness, taking into account customer protection limits.

Liquidity/cashflow risk

The directors monitor cash flow carefully, and the company has agreed overdraft facilities with its bankers in order to manage cash flow fluctuations.

KEY PERFORMANCE INDICATORS

The company uses a series of key performance indicators to monitor the performance of the business. They include, but are not limited to, the following;

a) Number of demos achieved

b) Gross Profit margin

c) Net Profit margin

2025

2024

Number of Demos

83,469

77,566

Gross Profit Margin

12.11%

12.05%

Net Profit Margin

0.98%

0.56%

ON BEHALF OF THE BOARD:

D W Pinner - Director

25 November 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of promotion, demonstration and hygiene services.

DIVIDENDS

There were no interim dividends issued during the year.

The total distribution of dividends for the year ended 31 March 2025 is £nil.

RESEARCH AND DEVELOPMENT

The company continued its investment in research and development during the year. Further costs in respect of this have been capitalised in the balance sheet. The amount capitalised in the year was £52,850.

FUTURE DEVELOPMENTS

There may be some macro-economic challenges on the horizon as inflation rates improve but interest rates remain high and conflicts across the world continue. Despite this, Fizz Experience Limited is well equipped to deal with these changes. The company operates solely in the UK with low fixed overheads so it is able to respond quickly to changes.

The directors will continue to take prudent action to protect the company's cash flows and reduce expenditure to ensure that the business continues to operate profitably.

DIRECTORS

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

D W Pinner

D R Curtis

FINANCIAL INSTRUMENTS

The company's financial risk management objectives consist of identifying and monitoring those risks which have an adverse impact on the value of the company's financial assets and liabilities or on the reported profitability and on the cash flows of the company. The company's principal financial instruments are cash and an invoice discounting facility from its bank.

Credit risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The company is mainly exposed to credit risk from credit sales. It is company policy to assess the credit risk of new customers. Each new customer is analysed individually for creditworthiness before the company's standard payment terms and conditions are offered.

At a local level, a monthly review of the trade receivables ageing analysis is undertaken and customer's credit is reassessed periodically. Existing customers that become "high risk" as a result of the periodic reassessment are placed on a restricted customer list and future credit sales are made only with approval of the Board, otherwise payment in advance is required.

Credit risk also arises from cash and cash equivalents and deposits with banks and financial institutions.

Liquidity risk

Liquidity risk arises from the company's management of working capital and the finance charges and principal repayments on its debt instruments. It is the risk that the company will encounter difficulty in meeting its financial obligations as they fall due.

The Board receives rolling cash flow projections on a monthly basis as well as information regarding cash balances. At the end of the financial year, these projections indicated that the company expected to have sufficient liquid resources to meet its obligations under all reasonably expected circumstances. The directors have considered it appropriate to prepare the accounts on a going concern basis.

GOING CONCERN

The company meets its day-to-day working capital requirements through its cash reserves and an invoice discounting facility. The current economic conditions are challenging, with higher interest rates and continuing higher inflation rates. Having said this, the company has continued to be profitable and there is expectation that future demand for the company's services will increase. The directors have carefully considered the company's financial position, liquidity and future performance in conjunction with forecasts and projections, taking account of potential changes in trading performance and wider economic conditions. After making enquiries, the directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

DISABLED EMPLOYEES

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment with the company continues and that the appropriate training is arranged. It is the company's policy that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of the other employees.

EMPLOYEE INVOLVEMENT

During the year, the policy of providing employees with information about the company has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the company's performance. Regular meetings are held between local management and employees to allow a free flow of information and ideas. Certain employees participate directly in the success of the business through the company's profit sharing schemes.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with Section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out within the company's Strategic Report the Company's Strategic Report Information Required by Schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulation 2008. This includes information that would have been included in the business review and details of the principal risks and uncertainties.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 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 of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

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

ON BEHALF OF THE BOARD:

D W Pinner - Director

25 November 2025

Opinion

We have audited the financial statements of Fizz Experience Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 company's affairs as at 31 March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. 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 that are applicable to the company through discussions with management and from our commercial knowledge and previous experience of the specific business sector. We determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework, the relevant tax compliance regulations in the UK, Money Laundering Regulations 2007, Data Protection Act 2018, Bribery Act 2010, Employment Act 2002, The Food Safety and Hygiene (England) Regulations 2013, Food Safety Act 1990 (amended) and Health & Safety at Work Act 1974.

-

We obtained a general understanding of how the company complies with these legal and regulatory frameworks by making enquiries of management and those responsible for legal and compliance matters. We corroborated our enquiries through our review of minutes of the Board and certain other procedures.

-

Based on the results of our risk assessment we designed further audit procedures to identify non-compliance with such laws and regulations identified above. Our procedures involved journal entry testing, with a focus on journals meeting our defined risk criteria based on our understanding of the business.

-

We communicated relevant laws and regulations and potential fraud risks to all engagement team members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

-

We assessed the appropriateness of the competence and capabilities of the engagement team including consideration of their:

-

understanding of, and practical experience with audit engagements of a similar nature and complexity

-

knowledge of the industry in which the client operates

There are inherent limitations in the 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. The primary responsibility for the prevention and detection of fraud rests with those charged with governance of the company and management. We are not responsible for preventing non-compliance with laws and regulations and our audit procedures cannot be expected to detect non-compliance with all laws and regulations.

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.

Susan Jones FCA (Senior Statutory Auditor)

for and on behalf of Vista Audit LLP

Chartered Accountants

Statutory Auditor

Chancery House

3 Hatchlands Road

Redhill

Surrey

RH1 6AA

25 November 2025

TURNOVER

4

20,637,627

18,444,463

Cost of sales

18,138,158

16,221,146

GROSS PROFIT

2,499,469

2,223,317

Administrative expenses

2,268,966

2,083,066

OPERATING PROFIT

7

230,503

140,251

Income from shares in group undertakings

-

9,928

Interest receivable and similar income

77

-

77

9,928

230,580

150,179

Amounts written off investments

8

-

8

230,580

150,171

Interest payable and similar expenses

9

27,485

46,611

PROFIT BEFORE TAXATION

203,095

103,560

Tax on profit

10

49,722

487

PROFIT FOR THE FINANCIAL YEAR

153,373

103,073

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

153,373

103,073

FIXED ASSETS

Intangible assets

11

167,947

174,307

Tangible assets

12

42,687

37,012

Investments

13

2

2

210,636

211,321

CURRENT ASSETS

Debtors

14

4,484,122

4,231,241

Cash at bank and in hand

39,700

51,349

4,523,822

4,282,590

CREDITORS

Amounts falling due within one year

15

2,928,657

2,641,483

NET CURRENT ASSETS

1,595,165

1,641,107

TOTAL ASSETS LESS CURRENT LIABILITIES

1,805,801

1,852,428

CREDITORS

Amounts falling due after more than one year

16

-

200,000

NET ASSETS

1,805,801

1,652,428

CAPITAL AND RESERVES

Called up share capital

21

18

18

Capital redemption reserve

22

20

20

Retained earnings

22

1,805,763

1,652,390

SHAREHOLDERS' FUNDS

1,805,801

1,652,428

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

D W Pinner - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

18

1,549,317

20

1,549,355

Changes in equity

Total comprehensive income

-

103,073

-

103,073

Balance at 31 March 2024

18

1,652,390

20

1,652,428

Changes in equity

Total comprehensive income

-

153,373

-

153,373

Balance at 31 March 2025

18

1,805,763

20

1,805,801

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

All amounts in the financial statements have been rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company meets its day-to-day working capital requirements through its cash reserves and an invoice discounting facility. The directors have carefully considered the company's financial position, liquidity and future performance in conjunction with forecasts and projections, taking account of potential changes in trading performance and wider economic conditions. After making enquiries, the directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Fizz Experience Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its ultimate parent undertaking, Fizz Holdings Limited, The Atrium, Curtis Road, Dorking, England RH4 1XA.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine whether there are indicators of impairment of the company's tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

- Intangible fixed assets

Intangible fixed assets, are amortised over their useful life taking into account the probable future economic benefits, where appropriate. The economic useful lives of the assets and probable future economic benefits are assessed annually and may vary depending on a number of factors.

- Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover

The turnover shown in the profit and loss represents amounts receivable for services provided and goods sold during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.

Intangible assets

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

An impairment loss has been recognised in the Statement of Comprehensive Income, following an assessment at the Statement of Financial Position date indicating the recoverable amount was less than its carrying value.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 33% on cost

Computer equipment - 33% on cost and 20% on cost

Investments in subsidiaries

Investment in subsidiary undertakings are held at cost less accumulated impairment losses.

Financial instruments

Financial assets

Basic financial assets, including trade debtors, other debtors, loans to fellow group companies, loans to directors, cash and bank balances and investments in shares, are initially measured at the transaction price including transaction costs.

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 derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled; or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade creditors, other creditors, trade finance and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

The company has no financial assets or financial liabilities measured at fair value. Although the company has external borrowings it is not exposed to risk arising from the interest rate benchmark reform, as LIBOR is replaced with alternative benchmark interest rates, as all of the borrowings are at a fixed rate of interest.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Intangible fixed assets - research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which is 5 years.

The expected useful economic life of development costs are estimated based on business plans which set out the development plan and time to market for the associated project.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating profit.

Hire purchase and leasing commitments

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

Where assets are financed by leasing agreements that give rights approximately to ownership (finance leases), the assets are treated as if they have been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to profit or loss over the shorter of its estimated useful economic life and the term of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to profit or loss over the term of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

Pension costs

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in other creditors in the balance sheet date. The assets of the plan are held separately from the company in independently administered funds.

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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Sales of goods

4,079,923

3,666,604

Rendering of services

16,557,704

14,777,859

20,637,627

18,444,463

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

12,249,441

10,804,443

Social security costs

708,846

610,693

Other pension costs

159,382

142,048

13,117,669

11,557,184

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

2025

2024

Number of head office staff

32

32

Number of other staff

951

913

Number of directors

2

2

985

947

6.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

279,897

302,426

Directors' pension contributions to money purchase schemes

3,082

7,485

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

156,897

156,426

Pension contributions to money purchase schemes

1,321

1,321

7.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Other operating leases

80,182

65,577

Depreciation - owned assets

27,154

20,304

Loss on disposal of fixed assets

-

441

Development costs amortisation

40,960

31,608

Auditors' remuneration

26,100

24,879

Foreign exchange differences

(6,544

)

109,696

8.

AMOUNTS WRITTEN OFF INVESTMENTS

2025

2024

£

£

Amounts written off investments

-

8

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

27,485

46,611

10.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

50,029

-

(Over)/under provision in prior year

(307

)

487

Tax on profit

49,722

487

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

203,095

103,560

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

50,774

25,890

Effects of:

Expenses not deductible for tax purposes

15,878

14,781

Income not taxable for tax purposes

(13,213

)

(40,050

)

Capital allowances in excess of depreciation

(1,761

)

(2,270

)

Utilisation of tax losses

(1,649

)

-

Adjustments to tax charge in respect of previous periods

(307

)

487

Losses c/f

-

1,649

Total tax charge

49,722

487