REGISTERED NUMBER: 02897134 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Period 1 January 2024 to 30 April 2025

for

The Sash Window Workshop Trading Limited

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTOR:

Mr R G Dollar

SECRETARY:

Mr R G Dollar

REGISTERED OFFICE:

4 Kiln Lane

Bracknell

Berkshire

RG12 1NA

REGISTERED NUMBER:

02897134 (England and Wales)

AUDITORS:

WP Audit Limited

Statutory Auditors

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

The director presents his strategic report for the period 1 January 2024 to 30 April 2025.

REVIEW OF BUSINESS

The company's key financial performance indicators during the period were as follows:

2025

2023

£'000s

£'000s

Turnover

13,880

11.387

Gross profit margin

45.7%

45.7%

Operating profit / (loss)

1,021

1,226

EBITDA

1,371

1,476

Cash at bank

1,693

1,774

The company's operating results have performed in line with the expectations of the director. Although turnover declined on a comparable basis, investment has continued to be made in the business to position the company for future growth. During the period the company maintained its operational efficiency, enabling it to report a gross margin of 45.7%. The company's key profit measure is EBITDA, which is calculated as operating profit excluding depreciation and amortisation, and in spite of the comparable reduction in sales and inflationary pressures on fixed costs was able to be protected through the maintenance of the gross margin rate and controlled expenditure in overheads. EBITDA for 2025 was £1,371,316. The company's operating profit reported on a statutory basis was £1,021,255 which includes depreciation and amortisation of £350,061.

The company continues to invest both in its people and fixed assets. Capital expenditure on tangible assets was £269,024 in the year as key part of continuing the growth of the company.

PRINCIPAL RISKS AND UNCERTAINTIES

Interest risk

The company does not have any variable interest loans so its exposure to interest risk is low. Interest payable arises from Hire Purchase loans that have been agreed with fixed rates of interest.

Liquidity risk

The company is cash generative in a normal market. Since a large proportion of the company's costs are variable based on income, the risk of liquidity challenges is considered to be low.

Credit risk

The company's principal credit risk arises from the ability of its customers to meet their contractual obligation to pay their debts as and when they fall due. The company's approach to managing this risk is to continually monitor debt collection, performing appropriate credit checks on new and existing commercial customers using third party credit reference agencies to assess creditworthiness and set appropriate credit and payment terms.

Currency risk

The company trades predominantly with UK headquartered businesses and residential homeowners in Sterling and has minimal currency risk.

Competitive risk

The market in which the company operates is competitive. The company is passionate about customer success and being trusted to deliver exceptional services. The focus on strong customer relationships and service offerings mitigate the competitive risk.

Tax risk

All transactions undertaken by the company have a business purpose and a commercial rationale. The company does not engage in any aggressive tax planning and does not implement structures purely for tax planning purposes. In relation to tax compliance, it is the policy of the company to fully comply with all applicable tax rules, regulations and disclosure requirements. The company uses appropriately qualified external advisors to look after the company's tax affairs.

ON BEHALF OF THE BOARD:

Mr R G Dollar - Director

14 November 2025

The director presents his report with the financial statements of the company for the period 1 January 2024 to 30 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the manufacture and installation of timber windows and doors and the provision of ancillary services.

DIVIDENDS

Dividends totalling £501,363 were paid during the period to 30 April 2025 (2023: £716,666).

DIRECTOR

Mr R G Dollar held office during the whole of the period from 1 January 2024 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

During the year there were no political donations made. Donations totalling £11,030 (2023: £14,357) were made to charity.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is 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 he 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.

ON BEHALF OF THE BOARD:

Mr R G Dollar - Director

14 November 2025

Opinion

We have audited the financial statements of The Sash Window Workshop Trading Limited (the 'company') for the period ended 30 April 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, 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 30 April 2025 and of its profit for the period 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

The engagement partners ensured that the engagement team collectively had the appropriate competence, capabilities and skill to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;;

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

-we assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instance of non-compliance throughout the audit.

-We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

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

-understanding the design of the company's remuneration policies.

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

-performed analytical procedures to identify unusual or unexpected relationships;

-tested journal entries to identify unusual transactions;

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

-investigated the rationale behind significant or unusual transactions.

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

agreeing financial statement disclosures to underlying supporting documentation;

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

-reviewing correspondence with HMRC, relevant regulators and company's legal advisors.

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.

Philippa Duckworth BSc FCCA (Senior Statutory Auditor)

for and on behalf of WP Audit Limited

Statutory Auditors

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

14 November 2025

TURNOVER

3

13,879,611

11,386,986

Cost of sales

(7,535,331

)

(6,141,892

)

GROSS PROFIT

6,344,280

5,245,094

Administrative expenses

(5,323,024

)

(4,019,217

)

OPERATING PROFIT

5

1,021,256

1,225,877

Interest receivable and similar income

84,610

67,262

1,105,866

1,293,139

Interest payable and similar expenses

6

(68,298

)

(38,757

)

PROFIT BEFORE TAXATION

1,037,568

1,254,382

Tax on profit

7

(192,349

)

(416,634

)

PROFIT FOR THE FINANCIAL PERIOD

845,219

837,748

PROFIT FOR THE PERIOD

845,219

837,748

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

845,219

837,748

FIXED ASSETS

Intangible assets

9

-

6,957

Tangible assets

10

1,527,592

1,608,629

1,527,592

1,615,586

CURRENT ASSETS

Stocks

11

763,827

818,583

Debtors

12

1,871,522

1,764,681

Cash at bank and in hand

1,692,894

1,773,785

4,328,243

4,357,049

CREDITORS

Amounts falling due within one year

13

(3,147,440

)

(3,511,748

)

NET CURRENT ASSETS

1,180,803

845,301

TOTAL ASSETS LESS CURRENT LIABILITIES

2,708,395

2,460,887

CREDITORS

Amounts falling due after more than one year

14

(76,004

)

(247,040

)

PROVISIONS FOR LIABILITIES

18

(1,186,085

)

(1,111,397

)

NET ASSETS

1,446,306

1,102,450

CAPITAL AND RESERVES

Called up share capital

19

200

200

Retained earnings

20

1,446,106

1,102,250

SHAREHOLDERS' FUNDS

1,446,306

1,102,450

The financial statements were approved by the director and authorised for issue on 14 November 2025 and were signed by:

Mr R G Dollar - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

200

981,168

981,368

Changes in equity

Dividends

-

(716,666

)

(716,666

)

Total comprehensive income

-

837,748

837,748

Balance at 31 December 2023

200

1,102,250

1,102,450

Changes in equity

Dividends

-

(501,363

)

(501,363

)

Total comprehensive income

-

845,219

845,219

Balance at 30 April 2025

200

1,446,106

1,446,306

1.	STATUTORY INFORMATION

The Sash Window Workshop Trading 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 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 requirement of paragraph 33.7.

Significant judgements and estimates

In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Included in provisions is an estimate of £280,579 (2023: £232,579) for dilapidations with regard to the company's buildings and an estimate of £528,916 (2023: £482,654) for remedial work required under warranties given.

Dilapidations:

The company recognises a provision for dilapidations when there is a present obligation due to past events, a probable outflow of resources, and a reliable estimate of the expenditure required to settle the obligation.

This provision is measured based on the best estimate of costs to restore leased properties to their original condition as specified in lease agreements and is reviewed annually for adjustments.

Bad debt:

The company recognises a provision for bad debts to account for the estimated losses resulting from the inability to collect outstanding receivables. This provision is determined based on a regular review of all outstanding amounts, considering factors such as the age of the receivable, historical collection rates, and specific customer creditworthiness.

Adjustments to the provision are made as needed to reflect changes in the credit risk of receivables. The bad debt provision is presented as a deduction from trade receivables on the balance sheet, ensuring that the financial statements accurately reflect the expected realisable value of the receivables.

Remedial provision:

The company recognises a provision for remedial costs to cover the estimated expenses required to rectify any future identified deficiencies or regulatory non-compliance issues. This provision is recorded when a present obligation is deemed to exist as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate of the expenditure can be made. The provision is measured at the best estimate of the costs necessary to settle any obligation at the reporting date, taking into account any relevant regulatory requirements and the specific circumstances of the deficiency. Adjustments to the provision are made as necessary to reflect changes in the estimated costs. The remedial costs provision is presented as a liability in the financial statements, ensuring accurate reporting of the company's obligations.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets

Computer software is being amortised evenly over its estimated useful life of 3 and 5 years.

Tangible fixed assets

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

Other fixed assets

-

at varying rates on cost

Plant and machinery

-

at varying rates on cost

Motor vehicles

-

at varying rates on cost

Computer equipment

-

at varying rates on cost

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.

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.

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. 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 company after deducting all of its liabilities.

(i) Financial assets and liabilities

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Financial assets are derecognised when and only when (a) the contractual rights to the cash flows from the financial asset expire or are settled, (b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or (c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

(ii) Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

In the company balance sheet, investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

(iii) Equity instruments

Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

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 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 company in independently administered funds.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructiveobligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

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.

TURNOVER

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

An analysis of turnover by geographical market is given below:

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

£

£

United Kingdom

13,879,611

11,386,986

13,879,611

11,386,986

4.	EMPLOYEES AND DIRECTORS

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

£

£

Wages and salaries

5,355,101

4,007,201

Social security costs

584,544

430,109

Other pension costs

150,622

372,270

6,090,267

4,809,580

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

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

Management

6

6

Admin

9

11

Sales

8

8

Production

70

67

93

92

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

£

£

Director's remuneration

37,485

16,391

Director's pension contributions to money purchase schemes

3,107

122,381

5.	OPERATING PROFIT

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

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

£

£

Other operating leases

401,306

383,704

Depreciation - owned assets

254,773

157,603

Depreciation - assets on hire purchase contracts

95,288

72,965

Profit on disposal of fixed assets

(1,333

)

-

Computer software amortisation

-

19,698

Auditors' remuneration

14,175

12,150

Foreign exchange differences

1,411

3,636

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

£

£

Bank loan interest

35,494

7,893

Credit card charges

32,804

30,864

68,298

38,757

7.

TAXATION

Analysis of the tax charge

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

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

£

£

Current tax:

UK corporation tax

211,923

352,792

Deferred tax

(19,574

)

63,842

Tax on profit

192,349

416,634

Reconciliation of total tax charge included in profit and loss

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

Period

1.1.24

to

Year Ended

30.4.25

31.12.23

£

£

Profit before tax

1,037,568

1,254,382

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.521%)

259,392

295,043

Effects of:

Expenses not deductible for tax purposes

(25,465

)

45,475

Adjustments to tax charge in respect of previous periods

(49,197

)

-

Tax rate timing differences

-

3,778

Timing differences on assets

7,619

72,338

Total tax charge

192,349

416,634

8.

DIVIDENDS

30.04.25

31.12.23

£

£

Ordinary A shares of £0.010 each

222,867

281,316

Ordinary B shares of £0.010 each

141,544

319,986

Ordinary C shares of £0.010 each

106,952

81,576

Ordinary D shares of £0.010 each

30,000

33,788

Ordinary E shares of £0.010 each

-

-

501,363

716,666