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REGISTERED NUMBER: 02440888 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 April 2024

for

Automint Limited

Automint Limited (Registered number: 02440888)






Contents of the Consolidated Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Statement of Directors' Responsibilities 5

Report of the Independent Auditors 6

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Company Cash Flow Statement 16

Notes to the Cash Flow Statements 17

Notes to the Consolidated Financial Statements 19


Automint Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr G W J Boyle
Mr G King
Mr P E Rawnsley
Mr M J Thornton
Mr O W White





SECRETARY: Mr M J Thornton





REGISTERED OFFICE: Unit 7 Fieldhouse Park
Old Fieldhouse Lane
Huddersfield
West Yorkshire
HD2 1FA





REGISTERED NUMBER: 02440888 (England and Wales)





AUDITORS: S P Crowther & Co Limited Chartered Accountants
and Statutory Auditors
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Automint Limited (Registered number: 02440888)

Group Strategic Report
for the Year Ended 30 April 2024

The directors present the strategic report for the year ended 30 April 2024.

This report is intended to provide useful information to our stakeholders and to assess the company’s strategies. The strategic report contains certain forward looking statements made by the directors in good faith based on the information available.

REVIEW OF BUSINESS
Automint provides a premium service, selling high quality suspension and steering components into the commercial vehicle market. The company aims to generate profits/ benefits for all its stakeholders through its economic success and through obtaining sustainable growth.

Automint provides high quality products and services to our customers by securing and maintaining good quality supply lines, retaining, training, and developing staff, maintaining our corporate reputation, placing extensive resources into research and development, and continually maintaining and improving our internal systems to keep up with legislative, regulatory and customer requirements.

PRINCIPAL RISKS AND UNCERTAINTIES
Effective risk management is very important in helping the directors to deliver our purpose, strategy, and commitment to all stakeholders. We do this by identifying, prioritising, monitoring, managing, or mitigating all material risks which allows us to make risk informed decisions and respond to any opportunities or threats that may arise. These risks include:

CREDIT RISK
Offering credit facilities to our customers is a very important selling tool but this can lead to default risks. We mitigate these risks by continually monitoring credit ratings, payment trends and credit limits. The company’s exposure to this risk is relatively low due to the number and quality of customers we deal with, and the individual credit facilities offered in relation to overall turnover.

LIQUIDITY RISK
The directors manage this risk by having a healthy and well managed cash flow. This allows Automint to take advantage of any opportunities that arise whilst being able to meet all its current and long term obligations.

COMPETITIVE RISK
The company competes in a very competitive market. Although competition is high Automint aims to maintain and increase its customer base and sales by offering a premium service, selling quality products at a competitive price.

INFLATION AND RISING COSTS
Wage inflation, increase in domestic costs (Utility bills, rent etc), transport costs, and the price of raw materials has shown arise in our operation costs. These may inevitably lead to an increase in selling price in the future, but it is a risk that also affects all our competitors.


Automint Limited (Registered number: 02440888)

Group Strategic Report
for the Year Ended 30 April 2024

BUSINESS PERFORMANCE AND POSITION
The board uses various KPIs throughout the financial year to assess Automint ’s progress against our objectives and strategies, to monitor risks and measure development and performance. So me of those KPIs include:

2024 2023

Turnover 13,214,864 11,316,652
Gross Profit 3,842,487 3,378,392
Net Assets 7,532,847 7,044,001


Turnover rose by 16.8% during the financial year, while gross profit only increased by 13.7% year on year. This was mainly due to the rise in buying costs, transportation costs and wages costs. The balance sheet has strengthened with net assets increasing from £7,044,001 in 2023 to £7,532,847 in 2024 showing an increase of 6.9% overall.

ON BEHALF OF THE BOARD:





Mr P E Rawnsley - Director


23 January 2025

Automint Limited (Registered number: 02440888)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company and group continued to be that of the supply of vehicle spares.

DIVIDENDS
The total distribution of dividends for the year ended 30 April 2024 will be £ 485,000 .

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

Mr G W J Boyle
Mr G King
Mr P E Rawnsley
Mr M J Thornton
Mr O W White

MEDIUM-SIZED COMPANIES EXEMPTION
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium sized companies exemption.

STATEMENT OF DISCLOSURE TO AUDITOR
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

ON BEHALF OF THE BOARD:





Mr P E Rawnsley - Director


23 January 2025

Automint Limited (Registered number: 02440888)

Statement of Directors' Responsibilities
for the Year Ended 30 April 2024

The directors are responsible for preparing the Group 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). 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the Independent Auditors to the Members of
Automint Limited

Opinion
We have audited the financial statements of Automint Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and Notes to the Cash Flow Statements, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2024 and of the group's 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 group 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 group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, 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 Group 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 Group 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
Automint Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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:

Using our general commercial and sector experience and through discussions with the directors we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either as a result of fraud or error.

We examined the company's regulatory and legal correspondence and discussed with the directors any known or suspected instances of fraud or non-compliance with laws and regulations.

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

In addressing the risk of management override of controls, we tested the appropriateness of journal entries. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements.

There are inherent limitations in the audit procedures described above and the further removed we are from the non-compliance with laws and regulations in respect of events and transactions reflected in the financial statements, the less likely we would become aware of identifying issues. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve the deliberate concealment, for example, through forgery or intentional misrepresentation, or through collusion.

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
Automint 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.




Steven Paul Crowther FCA (Senior Statutory Auditor)
for and on behalf of S P Crowther & Co Limited Chartered Accountants
and Statutory Auditors
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

23 January 2025

Automint Limited (Registered number: 02440888)

Consolidated Income Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £ £ £ £

TURNOVER 4 13,214,864 11,316,652

Cost of sales 9,372,377 7,938,260
GROSS PROFIT 3,842,487 3,378,392

Distribution costs 548,838 545,427
Administrative expenses 2,067,221 1,799,745
2,616,059 2,345,172
1,226,428 1,033,220

Other operating income 1,774 1,156
OPERATING PROFIT 6 1,228,202 1,034,376

Income from shares in group undertakings 53,085 33,853
Interest receivable and similar income 8 32,805 3,907
85,890 37,760
PROFIT BEFORE TAXATION 1,314,092 1,072,136

Tax on profit 9 340,246 217,082
PROFIT FOR THE FINANCIAL YEAR 973,846 855,054
Profit attributable to:
Owners of the parent 989,474 865,878
Non-controlling interests (15,628 ) (10,824 )
973,846 855,054

Automint Limited (Registered number: 02440888)

Consolidated Other Comprehensive Income
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £ £

PROFIT FOR THE YEAR 973,846 855,054


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

973,846

855,054

Total comprehensive income attributable to:
Owners of the parent 989,449 865,878
Non-controlling interests (15,603 ) (10,824 )
973,846 855,054

Automint Limited (Registered number: 02440888)

Consolidated Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 511,753 481,390
Investments 13 - -
511,753 481,390

CURRENT ASSETS
Stocks 14 3,439,190 2,962,586
Debtors 15 4,438,487 3,927,313
Cash at bank and in hand 1,300,464 1,566,958
9,178,141 8,456,857
CREDITORS
Amounts falling due within one year 16 1,949,796 1,706,570
NET CURRENT ASSETS 7,228,345 6,750,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,740,098

7,231,677

PROVISIONS FOR LIABILITIES 18 207,251 187,676
NET ASSETS 7,532,847 7,044,001

CAPITAL AND RESERVES
Called up share capital 19 17,000 17,000
Retained earnings 20 7,542,822 7,038,348
SHAREHOLDERS' FUNDS 7,559,822 7,055,348

NON-CONTROLLING INTERESTS (26,975 ) (11,347 )
TOTAL EQUITY 7,532,847 7,044,001

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





Mr P E Rawnsley - Director


Automint Limited (Registered number: 02440888)

Company Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 486,743 446,868
Investments 13 275 275
487,018 447,143

CURRENT ASSETS
Stocks 14 3,185,252 2,775,425
Debtors 15 4,822,380 4,214,863
Cash at bank and in hand 1,259,186 1,507,071
9,266,818 8,497,359
CREDITORS
Amounts falling due within one year 16 1,905,865 1,667,263
NET CURRENT ASSETS 7,360,953 6,830,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,847,971

7,277,239

PROVISIONS FOR LIABILITIES 18 207,251 187,676
NET ASSETS 7,640,720 7,089,563

CAPITAL AND RESERVES
Called up share capital 19 17,000 17,000
Retained earnings 20 7,623,720 7,072,563
SHAREHOLDERS' FUNDS 7,640,720 7,089,563

Company's profit for the financial year 1,036,157 898,350

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





Mr P E Rawnsley - Director


Automint Limited (Registered number: 02440888)

Consolidated Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£ £ £ £ £
Balance at 1 May 2022 17,000 6,497,470 6,514,470 (523 ) 6,513,947

Changes in equity
Dividends - (325,000 ) (325,000 ) - (325,000 )
Total comprehensive income - 865,878 865,878 (10,824 ) 855,054
Balance at 30 April 2023 17,000 7,038,348 7,055,348 (11,347 ) 7,044,001

Changes in equity
Dividends - (485,000 ) (485,000 ) - (485,000 )
Total comprehensive income - 989,474 989,474 (15,603 ) 973,871
Balance at 30 April 2024 17,000 7,542,822 7,559,822 (26,950 ) 7,532,872

Automint Limited (Registered number: 02440888)

Company Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 May 2022 17,000 6,499,213 6,516,213

Changes in equity
Dividends - (325,000 ) (325,000 )
Total comprehensive income - 898,350 898,350
Balance at 30 April 2023 17,000 7,072,563 7,089,563

Changes in equity
Dividends - (485,000 ) (485,000 )
Total comprehensive income - 1,036,157 1,036,157
Balance at 30 April 2024 17,000 7,623,720 7,640,720

Automint Limited (Registered number: 02440888)

Consolidated Cash Flow Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 546,851 1,036,253
Tax paid (214,499 ) (276,669 )
Net cash from operating activities 332,352 759,584

Cash flows from investing activities
Purchase of tangible fixed assets (208,030 ) (191,528 )
Sale of tangible fixed assets 74 13,281
Interest received 32,805 3,907
Dividends received 53,085 33,853
Net cash from investing activities (122,066 ) (140,487 )

Cash flows from financing activities
Amount introduced by directors 219,299 -
Amount withdrawn by directors (211,079 ) -
Equity dividends paid (485,000 ) (325,000 )
Net cash from financing activities (476,780 ) (325,000 )

(Decrease)/increase in cash and cash equivalents (266,494 ) 294,097
Cash and cash equivalents at beginning of
year

2

1,566,958

1,272,861

Cash and cash equivalents at end of year 2 1,300,464 1,566,958

Automint Limited (Registered number: 02440888)

Company Cash Flow Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 687,347 1,076,928
Tax paid (214,499 ) (276,669 )
Net cash from operating activities 472,848 800,259

Cash flows from investing activities
Purchase of tangible fixed assets (206,588 ) (191,211 )
Sale of tangible fixed assets 74 13,281
Interest received 32,805 3,907
Dividends received 53,085 33,853
Net cash from investing activities (120,624 ) (140,170 )

Cash flows from financing activities
Amount introduced by directors 219,299 -
Amount withdrawn by directors (211,079 ) -
Amounts received from group undertakings (123,329 ) (64,937 )
Equity dividends paid (485,000 ) (325,000 )
Net cash from financing activities (600,109 ) (389,937 )

(Decrease)/increase in cash and cash equivalents (247,885 ) 270,152
Cash and cash equivalents at beginning of
year

2

1,507,071

1,236,919

Cash and cash equivalents at end of year 2 1,259,186 1,507,071

Automint Limited (Registered number: 02440888)

Notes to the Cash Flow Statements
for the Year Ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Group
30.4.24 30.4.23
£ £
Profit before taxation 1,314,092 1,072,136
Depreciation charges 177,667 165,736
Profit on disposal of fixed assets (74 ) (4,011 )
Increase in provisions 24,000 16,000
Finance income (85,890 ) (37,760 )
1,429,795 1,212,101
(Increase)/decrease in stocks (476,604 ) 49,118
Increase in trade and other debtors (511,174 ) (265,250 )
Increase in trade and other creditors 104,834 40,284
Cash generated from operations 546,851 1,036,253

Company
30.4.24 30.4.23
£ £
Profit before taxation 1,376,403 1,115,432
Depreciation charges 166,713 158,625
Profit on disposal of fixed assets (74 ) (4,011 )
Increase in provisions 24,000 16,000
Finance income (85,890 ) (37,760 )
1,481,152 1,248,286
(Increase)/decrease in stocks (409,827 ) 61,466
Increase in trade and other debtors (484,188 ) (263,879 )
Increase in trade and other creditors 100,210 31,055
Cash generated from operations 687,347 1,076,928

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statements in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Group Company
Year ended 30 April 2024
30.4.24 1.5.23 30.4.24 1.5.23
£ £ £ £
Cash and cash equivalents 1,300,464 1,566,958 1,259,186 1,507,071
Year ended 30 April 2023
30.4.23 1.5.22 30.4.23 1.5.22
£ £ £ £
Cash and cash equivalents 1,566,958 1,272,861 1,507,071 1,236,919


Automint Limited (Registered number: 02440888)

Notes to the Cash Flow Statements
for the Year Ended 30 April 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

Group
At 1.5.23 Cash flow At 30.4.24
£ £ £
Net cash
Cash at bank and in hand 1,566,958 (266,494 ) 1,300,464
1,566,958 (266,494 ) 1,300,464
Total 1,566,958 (266,494 ) 1,300,464
Company
At 1.5.23 Cash flow At 30.4.24
£ £ £
Net cash
Cash at bank and in hand 1,507,071 (247,885 ) 1,259,186
1,507,071 (247,885 ) 1,259,186
Total 1,507,071 (247,885 ) 1,259,186

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Automint 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 General Information page.

2. ACCOUNTING POLICIES

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

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company
Automint Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates

All financial statements are made up to 30 April 2024 . Where necessary, adjustments ar e made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildingsstraight line over 5 years
Plant and equipmentstraight line over 3 - 5 years
Fixtures and fittingsstraight line over 5 years
Computersstraight line over 3 years
Motor vehicles25% - 49% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed th e carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.


Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

Deferred tax is charged or credited in the profit and loss account , except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Business combinations
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

Provisions
Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account t he risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value.
When a provision i s measured at present value the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4. TURNOVER

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

An analysis of turnover by geographical market is given below:

30.4.24 30.4.23
£ £
United Kingdom 12,104,194 10,550,868
Europe 1,075,622 734,238
Rest of the world 35,048 31,546
13,214,864 11,316,652

5. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£ £
Wages and salaries 1,764,314 1,590,027
Social security costs 161,616 154,344
Other pension costs 140,365 91,710
2,066,295 1,836,081

The average number of employees during the year was as follows:
30.4.24 30.4.23

Administration staff 27 27
Warehouse staff 23 21
50 48

30.4.24 30.4.23
£ £
Directors' remuneration 339,675 265,821
Directors' pension contributions to money purchase schemes 90,000 52,500

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

5. EMPLOYEES AND DIRECTORS - continued

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

Money purchase schemes 4 4

Information regarding the highest paid director is as follows:
30.4.24 30.4.23
£ £
Emoluments etc 90,233 73,663
Pension contributions to money purchase schemes 30,000 17,500

6. OPERATING PROFIT

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

30.4.24 30.4.23
£ £
Other operating leases 562,658 499,475
Depreciation - owned assets 177,667 165,736
Profit on disposal of fixed assets (74 ) (4,011 )
Foreign exchange differences (24,486 ) 36,969
Research and development costs 43,585 -
Government grants (1,774 ) -

7. AUDITORS' REMUNERATION
30.4.24 30.4.23
£ £
Fees payable to the company's auditors for the audit of the company's
financial statements

15,000

10,703

8. INTEREST RECEIVABLE AND SIMILAR INCOME
30.4.24 30.4.23
£ £
Deposit account interest 22,468 3,907
Other interest received 10,337 -
32,805 3,907

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.4.24 30.4.23
£ £
Current tax:
UK corporation tax 344,671 235,198

Deferred tax (4,425 ) (18,116 )
Tax on profit 340,246 217,082

UK corporation tax has been charged at 25 % .

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.4.24 30.4.23
£ £
Profit before tax 1,314,092 1,072,136
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19.500 %)

328,523

209,067

Effects of:
Expenses not deductible for tax purposes 7,673 5,591
Unutilised tax losses carried forward 15,578 -
Effect of change in corporation tax rate - (3,986 )
Depreciation on assets not qualifying for tax allowances 1,743 1,223
Other non-reversing timing differences (13,271 ) -
Other permanent differences - 3,076
Other short term timing differences - 2,111
Total tax charge 340,246 217,082

10. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


11. DIVIDENDS
30.4.24 30.4.23
£ £
Final 485,000 325,000

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

12. TANGIBLE FIXED ASSETS

Group
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
COST
At 1 May 2023 255,649 950,670 5,191
Additions 4,693 72,666 605
Disposals (1,300 ) (89,430 ) -
At 30 April 2024 259,042 933,906 5,796
DEPRECIATION
At 1 May 2023 171,390 616,972 3,722
Charge for year 22,786 115,586 578
Eliminated on disposal (1,300 ) (89,430 ) -
At 30 April 2024 192,876 643,128 4,300
NET BOOK VALUE
At 30 April 2024 66,166 290,778 1,496
At 30 April 2023 84,259 333,698 1,469

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 May 2023 271,211 - 1,482,721
Additions 129,088 978 208,030
Disposals - - (90,730 )
At 30 April 2024 400,299 978 1,600,021
DEPRECIATION
At 1 May 2023 209,247 - 1,001,331
Charge for year 38,669 48 177,667
Eliminated on disposal - - (90,730 )
At 30 April 2024 247,916 48 1,088,268
NET BOOK VALUE
At 30 April 2024 152,383 930 511,753
At 30 April 2023 61,964 - 481,390

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

12. TANGIBLE FIXED ASSETS - continued

Company
Improvements Plant and Motor Computer
to property machinery vehicles equipment Totals
£ £ £ £ £
COST
At 1 May 2023 255,649 893,514 271,211 - 1,420,374
Additions 4,693 71,829 129,088 978 206,588
Disposals (1,300 ) (89,430 ) - - (90,730 )
At 30 April 2024 259,042 875,913 400,299 978 1,536,232
DEPRECIATION
At 1 May 2023 171,390 592,869 209,247 - 973,506
Charge for year 22,786 105,210 38,669 48 166,713
Eliminated on disposal (1,300 ) (89,430 ) - - (90,730 )
At 30 April 2024 192,876 608,649 247,916 48 1,049,489
NET BOOK VALUE
At 30 April 2024 66,166 267,264 152,383 930 486,743
At 30 April 2023 84,259 300,645 61,964 - 446,868

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
COST
At 1 May 2023
and 30 April 2024 275
NET BOOK VALUE
At 30 April 2024 275
At 30 April 2023 275

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

The Buddy Bear Company Ltd
Registered office: 11 Station Road, Bradley, Huddersfield, HD2 1US
Nature of business:
%
Class of shares: holding
Ordinary 100.00

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

13. FIXED ASSET INVESTMENTS - continued

On Air Suspension Ltd
Registered office: Unit 6 Paslow Hall Farm Estate, King Street, High Ongar, Essex, CM5 9QZ
Nature of business:
%
Class of shares: holding
Ordinary 75.00

Automint ROI Ltd
Registered office: Unit 7 Fieldhouse Park, Old Fieldhouse Lane, Huddersfield, West Yorkshire, HD2 1FA
Nature of business: Subsidiary
%
Class of shares: holding
Ordinary 100.00


14. STOCKS

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£ £ £ £
Stocks 2,952,793 2,545,369 2,952,793 2,545,369
Finished goods 486,397 417,217 232,459 230,056
3,439,190 2,962,586 3,185,252 2,775,425

15. DEBTORS

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£ £ £ £
Amounts falling due within one year:
Trade debtors 3,354,285 2,952,426 3,337,935 2,965,058
Other debtors 4,650 100 4,550 -
Prepayments and accrued income 318,043 213,278 305,583 198,822
3,676,978 3,165,804 3,648,068 3,163,880

Amounts falling due after more than one year:
Amounts owed by group undertakings - - 1,174,312 1,050,983
Other debtors 761,509 761,509 - -
761,509 761,509 1,174,312 1,050,983

Aggregate amounts 4,438,487 3,927,313 4,822,380 4,214,863

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£ £ £ £
Trade creditors 893,918 757,368 880,418 750,738
Tax 227,072 96,900 227,072 96,900
Social security and other tax 41,708 36,773 37,843 33,852
VAT 271,728 270,200 262,520 263,824
Directors' loan accounts 133,867 125,647 133,967 125,747
Accruals and deferred income 375,589 411,994 364,045 396,202
Deferred government grants 5,914 7,688 - -
1,949,796 1,706,570 1,905,865 1,667,263

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
30.4.24 30.4.23
£ £
Within one year 413,593 344,235
Between one and five years 1,359,734 1,308,111
In more than five years 314,668 641,688
2,087,995 2,294,034

18. PROVISIONS FOR LIABILITIES

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£ £ £ £
Deferred tax 17,251 21,676 17,251 21,676
Other provisions
Dilapidations 190,000 166,000 190,000 166,000

Aggregate amounts 207,251 187,676 207,251 187,676

Group
Deferred
tax Dilapidations
£ £
Balance at 1 May 2023 21,676 166,000
Provided during year - 24,000
Credit to Income Statement during year (4,425 ) -
Balance at 30 April 2024 17,251 190,000

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

18. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax Dilapidations
£ £
Balance at 1 May 2023 21,676 166,000
Provided during year - 24,000
Credit to Income Statement during year (4,425 ) -
Balance at 30 April 2024 17,251 190,000

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £ £
17,000 Ordinary £1 17,000 17,000

20. RESERVES

Group
Retained
earnings
£

At 1 May 2023 7,038,348
Profit for the year 989,474
Dividends (485,000 )
At 30 April 2024 7,542,822

Company
Retained
earnings
£

At 1 May 2023 7,072,563
Profit for the year 1,036,157
Dividends (485,000 )
At 30 April 2024 7,623,720


21. PENSION COMMITMENTS

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes in the year was £140,365 (2023: £91,710).

Automint Limited (Registered number: 02440888)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

22. RELATED PARTY TRANSACTIONS

The sales by Automint Limited to the group undertakings during the year amounted to £70,719 The transactions were completed at cost plus a charge to cover administration. Purchases from group undertakings by Automint Limited during the year amounted to £10,207 and were conducted on normal commercial terms.

The amounts owed to Automint Limited at 30 April 2024 from group undertakings amounted to £1,174,412 which also includes loans made to such parties.

23. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P E Rawnsley.

24. GOVERNMENT GRANTS

Liabilities arising from government grants in the year amounted to £5,914 (2023: £7,688) for the group and £NIL (2023: £NIL) for the company.