Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truetruetruetruetruetruetruetruetrueNo description of principal activity2023-01-01false1516truefalse 01017422 2023-01-01 2023-12-31 01017422 2022-01-01 2022-12-31 01017422 2023-12-31 01017422 2022-12-31 01017422 2022-01-01 01017422 c:Director4 2023-01-01 2023-12-31 01017422 d:Buildings 2023-01-01 2023-12-31 01017422 d:Buildings 2023-12-31 01017422 d:Buildings 2022-12-31 01017422 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01017422 d:Buildings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01017422 d:LandBuildings 2023-12-31 01017422 d:LandBuildings 2022-12-31 01017422 d:PlantMachinery 2023-01-01 2023-12-31 01017422 d:PlantMachinery 2023-12-31 01017422 d:PlantMachinery 2022-12-31 01017422 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01017422 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01017422 d:MotorVehicles 2023-01-01 2023-12-31 01017422 d:MotorVehicles 2023-12-31 01017422 d:MotorVehicles 2022-12-31 01017422 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01017422 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01017422 d:FurnitureFittings 2023-01-01 2023-12-31 01017422 d:FurnitureFittings 2023-12-31 01017422 d:FurnitureFittings 2022-12-31 01017422 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01017422 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01017422 d:OfficeEquipment 2023-01-01 2023-12-31 01017422 d:OfficeEquipment 2023-12-31 01017422 d:OfficeEquipment 2022-12-31 01017422 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01017422 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01017422 d:ComputerEquipment 2023-01-01 2023-12-31 01017422 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01017422 d:OtherPropertyPlantEquipment 2023-12-31 01017422 d:OtherPropertyPlantEquipment 2022-12-31 01017422 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01017422 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01017422 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01017422 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01017422 d:Goodwill 2023-01-01 2023-12-31 01017422 d:Goodwill 2023-12-31 01017422 d:Goodwill 2022-12-31 01017422 d:CurrentFinancialInstruments 2023-12-31 01017422 d:CurrentFinancialInstruments 2022-12-31 01017422 d:Non-currentFinancialInstruments 3 2023-12-31 01017422 d:Non-currentFinancialInstruments 3 2022-12-31 01017422 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01017422 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01017422 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01017422 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 01017422 d:ShareCapital 2023-12-31 01017422 d:ShareCapital 2022-12-31 01017422 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 01017422 d:CapitalRedemptionReserve 2023-12-31 01017422 d:CapitalRedemptionReserve 2022-12-31 01017422 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01017422 d:RetainedEarningsAccumulatedLosses 2023-12-31 01017422 d:RetainedEarningsAccumulatedLosses 2022-12-31 01017422 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01017422 c:OrdinaryShareClass1 2023-12-31 01017422 c:OrdinaryShareClass1 2022-12-31 01017422 c:FRS101 2023-01-01 2023-12-31 01017422 c:Audited 2023-01-01 2023-12-31 01017422 c:FullAccounts 2023-01-01 2023-12-31 01017422 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01017422 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01017422 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01017422 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 01017422 d:CurrentFinancialInstruments 7 2023-12-31 01017422 d:CurrentFinancialInstruments 7 2022-12-31 01017422 d:MotorVehicles d:Right-of-useAssets 2023-01-01 2023-12-31 01017422 d:MotorVehicles d:Right-of-useAssets 2022-01-01 2022-12-31 01017422 f:PoundSterling 2023-01-01 2023-12-31 01017422 g:SouthAfrica 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01017422










ANGLO-NORDIC BURNER PRODUCTS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023



 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
REGISTERED NUMBER: 01017422

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Goodwill
 5 
175,000
175,000

Tangible assets
 6 
614,322
640,404

  
789,322
815,404

Current assets
  

Stocks
 7 
411,372
436,562

Debtors: amounts falling due within one year
 8 
530,032
518,844

Cash at bank and in hand
 9 
366,792
213,540

  
1,308,196
1,168,946

Creditors: amounts falling due within one year
 10 
(654,737)
(511,997)

Net current assets
  
 
 
653,459
 
 
656,949

Total assets less current liabilities
  
1,442,781
1,472,353

  

Creditors: amounts falling due after more than one year
 11 
-
(3,934)

  
1,442,781
1,468,419

Provisions for liabilities
  

Deferred taxation
 13 
(181)
(181)

  
 
 
(181)
 
 
(181)

  

Net assets
  
1,442,600
1,468,238


Capital and reserves
  

Called up share capital 
 14 
525,000
525,000

Capital redemption reserve
 15 
15,000
15,000

Profit and loss account
 15 
902,600
928,238

  
1,442,600
1,468,238


Page 1

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
REGISTERED NUMBER: 01017422

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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




I McCreeth
Director

Date: 4 June 2024

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Anglo-Nordic Burner Products Limited is a private limited company incorporated and domiciled in the United Kingdom. The address of the registered office is 2 Chawley Park, Cumnor Hill, Oxford, OX2 9GG. The principal activity is that of the distribution of components to the central heating industry.
The Company's trading address is 12-14 Island Farm Ave, Molesey, West Molesey, KT8 2UZ.

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 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

The financial statements are rounded to the nearest whole pounding sterling.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
 - paragraph 79(a)(iv) of IAS 1;
 - paragraph 73(e) of IAS 16 Property, Plant and Equipment;
 - paragraph 118(e) of IAS 38 Intangible Assets;
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member

This information is included in the consolidated financial statements of Flowmax Group as at 31 December 2023 and these financial statements may be obtained from the Registrar of Companies.

Page 3

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

  
2.4

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts, returns and value added taxes. The Company recognises revenue when performance obligations have been satisfied and for the Company this is when the goods or services have transferred to the customer and the customer has control of these. The Company’s activities are described in detail below. 
(a) Sales of goods 
The Company manufactures and sells heating and ventilation components for the business to business heating oil and gas sector. Sales are recognised when control of the products has transferred, being when the products are delivered to the customer and the customer has legal title to the goods. Delivery occurs when the products have been distributed to the specific location, the risks of obsolescence and loss have been transferred to the customer, and either the customer has accepted the products in accordance with the sales contract or the Company has objective evidence that all criteria for acceptance have been satisfied.
The Company offers discounts on its sales of goods at the time of invoicing which does not constitute variable consideration as the consideration receivable is known at the time of invoicing. The value of up-front payments received in respect of sales of goods are immaterial to the financial statements. 
A receivable is recognised when the performance obligation is satisfied as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

 
2.5

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.

Page 4

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

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.

 
2.7

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

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.

 
2.8

Goodwill

Goodwill represents the excess of the cost of a business combination over the total acquisition date fair value of the identifiable assets, liabilities and contingent liabilities acquired.
Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued.
Goodwill is capitalised as an intangible asset and is not amortised. Instead it is reviewed annually for impairment with any impairment in carrying value being charged to profit or loss. 

 
2.9

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Page 5

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% on cost
Plant and machinery
-
20% on cost
Fixtures and fittings
-
20% on cost
Motor vehicles
-
25% on cost
Computer equipment
-
33.3% on cost

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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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.

Page 6

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

 
2.15

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.

 
2.16

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 Company makes estimates and assumptions concerning the future and judgements in applying the Company's accounting policies. The resulting accounting estimates will, by definition, seldom equal the actual results. The following estimates and assumptions have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year.

Provision for doubtful debts
Management provides for doubtful debts on the perceived risk profile and payment history of the debtor.
Provision for slow moving, damaged and obsolete stock 
There is a provision to write stock down to the lower of cost and net realisable value. Management have made estimates of the selling price and direct costs to sell on certain stock items. The write down is included in the operating profit note. 


4.


Employees

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


        2023
        2022
            No.
            No.







Sales and administration
12
12



Director
3
4

15
16

Page 7

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023







5.


Goodwill





2023

£



Cost


At 1 January 2023
175,000



At 31 December 2023

175,000






Net book value



At 31 December 2023
175,000



At 31 December 2022
175,000


Page 8

 


 
ANGLO-NORDIC BURNER PRODUCTS LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


6.


Tangible fixed assets






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 January 2023
725,000
1,837
6,700
80,068
67,165
33,928
914,698


Additions
-
-
-
2,650
640
-
3,290



At 31 December 2023

725,000
1,837
6,700
82,718
67,805
33,928
917,988



Depreciation


At 1 January 2023
111,000
1,837
5,360
71,075
64,941
20,081
274,294


Charge for the year on owned assets
14,499
-
-
3,161
1,672
-
19,332


Charge for the year on right-of-use assets
-
-
-
-
-
10,040
10,040



At 31 December 2023

125,499
1,837
5,360
74,236
66,613
30,121
303,666



Net book value



At 31 December 2023
599,501
-
1,340
8,482
1,192
3,807
614,322



At 31 December 2022
614,000
-
1,340
8,993
2,224
13,847
640,404

Page 9

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           6.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
599,501
614,000

599,501
614,000



The net book value of owned and leased assets included as "Tangible fixed assets" in the Balance Sheet is as follows:

2023
2022
£
£


Tangible fixed assets owned
610,515
626,557

Right-of-use tangible fixed assets
3,807
13,847

614,322
640,404

Information about right-of-use assets is summarised below:

Net book value

2023
2022
£
£

Motor vehicles
3,807
3,810

Other tangible fixed assets
-
10,037

3,807
13,847

Depreciation charge for the year ended

2023
2022
£
£

Motor vehicles
10,040
10,037


7.


Stocks

2023
2022
£
£

Raw materials and consumables
411,372
436,562


Inventories above includes a provision of £2,755 (2022: £Nil) for slow moving and obsolete stock.


Page 10

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Debtors

2023
2022
£
£


Trade debtors
482,845
475,335

Other debtors
24,433
19,006

Prepayments and accrued income
22,754
24,503

530,032
518,844



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
366,792
213,540



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
377,127
290,225

Corporation tax
55,542
-

Other taxation and social security
147,038
144,976

Lease liabilities
3,901
10,251

Other creditors
14,789
11,592

Accruals and deferred income
56,340
54,953

654,737
511,997



11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Lease liabilities
-
3,934


Page 11

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.

Leases

Company as a lessee

The Company leases motor vehivles. The periodic rent is fixed over the lease term.

Lease liabilities are due as follows:

2023
2022
£
£

Due within one year
3,901
10,251

1-2 yrs
-
3,934

3,901
14,185


13.


Deferred taxation




2023
2022


£

£






At beginning of year
(181)
3,436


Charged to profit or loss
-
(3,617)



At end of year
(181)
(181)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Tax losses/gains carried forward
(181)
(181)

(181)
(181)

Page 12

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



525,000 (2022 - 525,000) Ordinary shares of £1.00 each
525,000
525,000



15.


Reserves

Capital redemption reserve

The capital redemption reserve represents amounts transferred on the purchase of the Company's own shares.

Profit and loss account

The profit and loss account is the Company's accumulated retained profits or losses as at the year end. 


16.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £15,732 (2022: £16,723).
There were contributions payable to the fund at the balance sheet date of £3,384 (2022: £3,271).


17.


Related party transactions

During the year ended 31 December 2023, the Company undertook the following transactions with group companies.


2023
2022
£
£

Purchases from group companies
116,074
114,222
Sales to group companies
41,415
26,221
157,489
140,443

At the year end the Company was owed £NIL (2022: £NIL) from group companies.
During the year ended 31 December 2023, the Company paid dividends of £745,500 (2022: £651,000) to Hytek (GB) Limited.

Page 13

 
ANGLO-NORDIC BURNER PRODUCTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

18.


Controlling party

The Company is a subsidiary undertaking of Hytek (GB) Limited, incorporated in England and Wales.
The Directors regard Flowmax Limited as the smallest group and SA Bias Industries (Pty) Limited, a company registered in South Africa, as the largest group within which the subsidiary belongs and for which group accounts are prepared.  Flowmax Limited's registered office is 2 Chawley Park, Cumnor Hill, Oxford, OX2 9GG. Copies of the Flowmax Limited group accounts are available from the Registrar of Companies.


19.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 13 June 2024 by James Pitt BA BFP FCA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.

Page 14