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REGISTERED NUMBER: 00718598 (England and Wales)















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024

for

THEW ARNOTT & CO.LIMITED

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


THEW ARNOTT & CO.LIMITED

Company Information
for the year ended 31 March 2024







Directors: R F Newman
Mrs V A Newman
C E Crossley
P M Jupp
G P Stuart-Brown
N Newman
D H Shears





Registered office: Aissela
46 High Street
Esher
Surrey
KT10 9QY





Registered number: 00718598 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
Aissela
46 High Street
Esher
Surrey
KT10 9QY

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Strategic Report
for the year ended 31 March 2024


The directors present their strategic report for the year ended 31 March 2024.

Review of business
The review represents a balanced and comprehensive view of the development and performance of the company during the year ending 31 March 2024 and its financial position at the year end.

The company continues to supply ingredients, raw materials, colours, dyes, pigments and lakes to the food, pharmaceutical, cosmetic and certain technical industries.

The directors consider the key financial performance indicators are those that communicate the financial performance and strength of the company as a whole and relate to sales turnover and gross profit. Its objective remains to maintain a healthy cash balance for future business opportunities and investments.

Sales turnover during the year under review was £19,096,053 as compared with £19,829,616 in 2023. The decreased turnover is due to a fall in the UK sales of £1,980,643 however this was partially offset by increased sales to EU and non-EU countries.

Gross profit margins have increased significantly when compared with the previous year (30.9% compared with 25.3% in 2023), due to better controls over stock. The company shows a healthy cash balance of £1.86m compared with the balance of £662k at 31 March 2023. The directors are seeking to improve performance during the coming year by expanding its customer base and continuing to sell its own manufactured and branded products. Moreover, resources have been invested in developing relationships with international producers and exploring new markets.

The company actively continues to seek out long term partnering arrangements with both its principals and customers which has the benefit of producing a higher quality of service, while securing longer-term contracts and ongoing relationships to the benefit of all parties concerned.

At the year end, shareholders funds increased from £3.7m in 2023 to £4m at 31 March 2024, reflecting another profitable year for the company.

The business environment continues to be challenging and competitive. In particular, the war in Ukraine has caused an increase the price of raw materials, and therefore the Directors are having to monitor the cash flow of the company to ensure that there is sufficient working capital to continue to operate. The gross profit margin levels have been increased and the company has a good business pipeline for the remainder of the year.

Principal risks and uncertainties
The risks arising from the company's financial instruments are currency risk, liquidity risk and credit risk. The directors review and agree policies for managing each of these risks and these policies have remained unchanged from previous years.

There is a limited exposure to foreign exchange risk. Where this may occur from time to time, the company will adopt policies to manage such risks.

The company has sufficient liquid resources to meet the operating needs of its business.

The company maintains rigorous control over its working capital. Debt collection is currently in line with budgeted targets and each customer is given a credit rating which forms the basis upon which goods are sold. Moreover most of its trade debts are covered by credit insurance and therefore the exposure to bad debts is substantially reduced.

On behalf of the board:





R F Newman - Director


5 November 2024

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Report of the Directors
for the year ended 31 March 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

Principal activity
The principal activity of the company in the year under review was that of the supply of ingredients and raw materials to the food, pharmaceutical, cosmetic and certain technical industries through agency/distribution agreements and direct sourcing as well as the production of lecithin blends and confectionery polishes and glazes.

Dividends
No dividends will be distributed for the year ended 31 March 2024.

Directors
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

R F Newman
Mrs V A Newman
C E Crossley
P M Jupp
G P Stuart-Brown
N Newman
D H Shears

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they have adopted the going concern basis in preparing the annual financial statements.

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.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Report of the Directors
for the year ended 31 March 2024


Auditors
The audit business of Haines Watts Kingston LLP was acquired by Cooper Parry Group Limited on 14 November 2023. Haines Watts Kingston LLP has resigned as auditor and Cooper Parry Group Limited has been appointed in its place.

The auditors, Cooper Parry Group Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





R F Newman - Director


5 November 2024

Report of the Independent Auditors to the Members of
Thew Arnott & Co.Limited


Opinion
We have audited the financial statements of Thew Arnott & Co.Limited (the 'company') for the year ended 31 March 2024 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 2024 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.

Report of the Independent Auditors to the Members of
Thew Arnott & Co.Limited


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 three, 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. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and
regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding
compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation. Of particular importance is the company's compliance with food and safety standards. We obtained the relevant authorisation from the local council in this regard.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Report of the Independent Auditors to the Members of
Thew Arnott & Co.Limited


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.




Paul Hodgett BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited
Statutory Auditor
Aissela
46 High Street
Esher
Surrey
KT10 9QY

7 November 2024

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Statement of Comprehensive
Income
for the year ended 31 March 2024

2024 2023
Notes £ £

Turnover 3 19,096,053 19,829,616

Cost of sales 13,187,325 14,814,658
Gross profit 5,908,728 5,014,958

Administrative expenses 6,745,649 4,702,425
(836,921 ) 312,533

Other operating income 1,242,301 653,615
Operating profit 6 405,380 966,148

Interest receivable and similar income 32,524 2,229
Profit before taxation 437,904 968,377

Tax on profit 7 60,390 38,115
Profit for the financial year 377,514 930,262

Other comprehensive income - -
Total comprehensive income for the year 377,514 930,262

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Statement of Financial Position
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 9 377,287 366,518

Current assets
Stocks 10 1,513,075 2,548,719
Debtors 11 3,058,390 4,499,464
Cash at bank 1,861,331 661,625
6,432,796 7,709,808
Creditors
Amounts falling due within one year 12 2,678,087 4,349,924
Net current assets 3,754,709 3,359,884
Total assets less current liabilities 4,131,996 3,726,402

Provisions for liabilities 14 98,673 70,593
Net assets 4,033,323 3,655,809

Capital and reserves
Called up share capital 15 76 76
Capital redemption reserve 24 24
Retained earnings 4,033,223 3,655,709
Shareholders' funds 4,033,323 3,655,809

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





R F Newman - Director


THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Statement of Changes in Equity
for the year ended 31 March 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£ £ £ £
Balance at 1 April 2022 76 2,725,447 24 2,725,547

Changes in equity
Total comprehensive income - 930,262 - 930,262
Balance at 31 March 2023 76 3,655,709 24 3,655,809

Changes in equity
Total comprehensive income - 377,514 - 377,514
Balance at 31 March 2024 76 4,033,223 24 4,033,323

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Thew Arnott & Co.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 (£).


The company's principal place of business is located at 270 London Road, Wallington, Surrey, SM6 7DJ.

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.

Going Concern

The financial statements have been prepared on a going concern basis.

The Directors believe that the business will continue to operate profitably. They have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

The financial statements do not include any adjustments to the value of the balance sheet which would result from the going concern basis not being valid.

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 33.7.

Key source of estimation, uncertainty and judgement
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic
lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers multiple factors regarding their recoverability.

(iii) Stock provisioning
When calculating the stocks provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipating saleability of finished goods.

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Turnover
Turnover represents sales derived from the supply of ingredients, raw materials as well as lecithin blends, confectionery polishes and glazes which are manufactured by the company.

Turnover is recognised once the associated stock items have left the company's premises. At this stage of the sales process, the risk and rewards of ownership of the goods are deemed to have been transferred to the customer.

Turnover is presented net of VAT and other taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over the length of the lease
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

The company is a beneficiary of Research & Development (R&D) tax relief from the UK Government in the form of reductions in its annual tax liability, as well as repayable tax credits. Current tax assets of reductions in current tax liabilities for R&D claims are only recognised when the amount can be reliably determined and the probability of HM Revenue & Customs accepting the claim is considered high.


THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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 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 result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Contributions to the company's defined contribution pension scheme are charged to the profit and loss account in the year in which they become payable.

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:

2024 2023
£ £
United Kingdom 12,330,323 14,310,966
EU countries 5,342,580 4,133,637
Non-EU countries 1,423,150 1,385,013
19,096,053 19,829,616

4. Employees and directors
2024 2023
£ £
Wages and salaries 2,383,670 1,889,848
Social security costs 282,765 300,640
Other pension costs 120,820 102,881
2,787,255 2,293,369

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Employees and directors - continued

The average number of employees during the year was as follows:
2024 2023

Administration 30 29
Management 4 3
Selling and distribution 7 6
41 38

5. Directors' emoluments
2024 2023
£ £
Directors' remuneration 639,024 544,297
Directors' pension contributions to money purchase schemes 81,123 67,499

Information regarding the highest paid director is as follows:
2024 2023
£ £
Emoluments etc 183,357 175,341
Pension contributions to money purchase schemes 27,523 25,824

6. Operating profit

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

2024 2023
£ £
Other operating leases 366,164 370,244
Depreciation - owned assets 113,188 98,441
Profit on disposal of fixed assets - (138,489 )
Foreign exchange differences 25,591 (64,407 )
Auditors Remuneration 27,011 26,975

7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 26,711 35,574

Deferred tax 33,679 2,541
Tax on profit 60,390 38,115

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


7. Taxation - continued

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:

2024 2023
£ £
Profit before tax 437,904 968,377
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

109,476

183,992

Effects of:
Expenses not deductible for tax purposes 94,344 1,833
Timing effect of capital allowances (3,087 ) 9,953
Research and development enhanced deduction (57,771 ) (62,491 )
Deferred tax 33,679 2,541
Gains not chargeable - (14,349 )
Group relief (116,251 ) (83,364 )
Total tax charge 60,390 38,115

8. Government grants

During the year to 31 March 2024, the company received £7,040 (2023 £16,047) of government assistance.

9. Tangible fixed assets
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 April 2023 81,889 955,446 752,021 42,359 1,831,715
Additions - 100,892 23,065 - 123,957
At 31 March 2024 81,889 1,056,338 775,086 42,359 1,955,672
Depreciation
At 1 April 2023 10,137 716,675 698,075 40,310 1,465,197
Charge for year 5,950 72,724 32,465 2,049 113,188
At 31 March 2024 16,087 789,399 730,540 42,359 1,578,385
Net book value
At 31 March 2024 65,802 266,939 44,546 - 377,287
At 31 March 2023 71,752 238,771 53,946 2,049 366,518

10. Stocks
2024 2023
£ £
Finished goods 1,513,075 2,548,719

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


11. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 2,677,461 4,239,606
Amounts owed by group undertakings 33,645 131,812
Other debtors 101,222 -
VAT 118,398 -
Prepayments and accrued income 127,664 128,046
3,058,390 4,499,464

12. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,435,580 1,367,143
Amounts owed to group undertakings 337,300 1,905,201
Tax 26,711 16,854
Social security and other taxes 73,404 676,806
Other creditors 13,611 9,911
Accruals and deferred income 791,481 374,009
2,678,087 4,349,924

13. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 317,500 318,580
Between one and five years 1,150,000 1,180,000
In more than five years 1,942,500 2,230,000
3,410,000 3,728,580

14. Provisions for liabilities
2024 2023
£ £
Deferred tax 98,673 70,593

Deferred tax
£
Balance at 1 April 2023 70,593
Charge to Statement of Comprehensive Income during year 28,080
Balance at 31 March 2024 98,673

15. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
76 Ordinary £1 76 76

THEW ARNOTT & CO.LIMITED (REGISTERED NUMBER: 00718598)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


16. Ultimate and immediate parent company

The company is a wholly owned subsidiary undertaking of Thew Arnott Group Limited, a company registered at Aissela, 46 High Street, Esher, Surrey, KT10 9QY. Copies of group accounts can be obtained from Companies House, Cardiff.

17. Related party disclosures

The company rents its business premises from the company's Self Administered Pension Scheme, the beneficiaries of which are directors of the company.

During the year the company paid a net total of £366,164 (2023: £368,191) to the Scheme with regard to this arrangement.

At the balance sheet date the company was owed £81,563 by the Scheme (2023: £81,563).

There are no members of key management other than the directors. Their remuneration is disclosed in note 5 to these accounts.

The company leases equipment to one of its subsidiaries on a finance lease. The leases expire in December 2028. At the balance sheet date the company was owed £101,222 by its subsidiary. (2023: Nil)

18. Finance leases - lessor

Finance leases relate to machinery which has been leased to a sister company over a period of 5 years at the end of which the rights to the machinery will transfer to the lessee. The total of future minimum lease payments are as follows: Within one year - £21,310 (2023: Nil), Between one and five years - £79,913 (2023: Nil)

19. Pensions

The company contributes to defined contribution pension schemes for certain members of staff and directors. The assets of the schemes are held separately from those of the company in independently administered funds. The pension charge amounted to £120,881 (2023: £102,880).