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REGISTERED NUMBER: 01075810 (England and Wales)















BATTEN AND ALLEN LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


BATTEN AND ALLEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S A Batten
T Batten
D Legg
D P Merchant





SECRETARY: D Legg





REGISTERED OFFICE: Bridge End
Love Lane
Cirencester
Gloucestershire
GL7 1NQ





REGISTERED NUMBER: 01075810 (England and Wales)





AUDITORS: Burrows Scarborough Limited
(Statutory Auditor)
Sovereign House
12 Warwick Street
Coventry
CV5 6ET

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

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

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. This review is consistent with the size and nature of the business.

As mentioned in our last report, due to the end of the re-stocking within the supply chain in the previous financial period the activity levels of the business were much reduced throughout the year as expected. This trend has also continued in the first half of the current period before picking up again in the calendar year 2025, and the current order intake supports our expectations for a much improved performance in the financial year ending May 2026.

We have made the best of this quieter period by bringing several new projects into production, we expect these to hit full production volumes within the next 18 months. We have also continued to strengthen the pipeline for new business, and maintained investment in new production technology to ensure we are well placed to deal with the expected increase in demand.

We have maintained good control over our internal costs throughout the period despite the continuing inflationary pressure, although the increase in energy and labour costs will inevitably increase our cost base and we are looking to increase efficiency to reduce the impact of this.

As a large exporter, we are subjected to movements in the sterling exchange rates particularly against the US Dollar and the Euro. Exchange rates against the US Dollar fluctuated between 1.21 and 1.31 during the year. In general terms stronger sterling has an adverse impact on our profitability.

Capital expenditure for the year was £1.2m with investments being made primarily in precious metal plating capability, IT infrastructure and improvement to our press shop processes. The additional capabilities will improve our ability to win new business, while the process improvements will help to increase efficiencies. The company has utilised its strong balance sheet together with asset finance to enable us to continue to invest in the long-term future of the company.

As stated previously, we have seen a large increase in inventory levels in previous years. As expected inventory levels did decline over the course of the year, we will continue efforts to reduce this further but the addition of new projects with higher value lines of inventory will make this challenging.

FINANCIAL KEY PERFORMANCE INDICATORS

For the reason mentioned above, turnover has reduced by 33.9% to £15.2m, gross profit margin reduced from 22.1% to 12.9% and operating profit has reduced from £2,114k to £88k.

The company's year end net asset position reduced by £0.1m to £8.3m and the cash at bank increased by £0.5m to £4.1m.


BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
There are no major changes in the risks and uncertainties facing the business which principally derive from global demand for products in the electronics industry and our position as a UK sub-contractor supplying on a global basis.

As a member of the supply chain for products in this industry the company is subject to changes in consumer demand and stock holding policies of other members of the supply chain, both of which are dependent upon global economic conditions. The company maintains a buffer of cash resources to deal with such fluctuations.

The company is also affected by changes in foreign exchange rates as around 90% of the company's turnover is generated in currencies other than GBP.

The availability of critical materials used in the manufacturing process is always an area of concern and needs constant monitoring to ensure stock levels are maintained. Inflationary pressures, particularly staff costs and utility prices, are an obvious concern as they are for the vast majority of businesses. The company is also affected by changes in the underlying cost of a number of materials, notably copper, gold, tin and nickel. The company regularly monitors these costs and, in the main, enters into sales contracts which allow changes in material costs to be passed on.

It is important that the company continues to keep at the forefront of technology within our sector and at any one time is pursuing new ideas and investing in new processes. There is no certainty that these developments will always result in productive results.

The company maintains a number of systems and procedures to deal with disaster scenarios including a fire rated tool store, offsite IT system back-up and critical working insurance cover.

FUTURE DEVELOPMENTS AND RESEARCH AND DEVELOPMENT
In recent years, the company has made a strong investment in research and development and will continue to do so for the foreseeable future. This will increase both efficiency and production.

ON BEHALF OF THE BOARD:





S A Batten - Director


26 February 2025

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of manufacture and plating of precision pressings and the manufacture of press tools and assembly machines for the electronics industry.

DIVIDENDS
Interim dividends per share were paid as follows:
£35,112 - 28 June 2023
£35,112 - 28 July 2023
£35,112 - 25 August 2023
£35,112 - 28 September 2023
£35,112 - 27 October 2023
£35,112 - 28 November 2023
£35,112 - 28 December 2023
£35,112 - 26 January 2024
£35,112 - 28 February 2024
£33,397 - 8 April 2024
£33,397 - 1 May 2024
382,802

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 May 2024 will be £ 382,802 .

Dividends paid after 31st May 2024 but before the date of this report total £292,866.

FUTURE DEVELOPMENTS
In recent years, the company has made a strong investment in research and development and will continue to do so for the foreseeable future. This will increase both efficiency and production.

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

S A Batten
T Batten
D Legg
D P Merchant

Other changes in directors holding office are as follows:

I A Mackinnon - resigned 8 April 2024

ACQUISITION OF OWN SHARES
During the year the company purchased 245 of its own £1 shares for £230,629.

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). 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.


BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
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.

AUDITORS
The auditors, Burrows Scarborough Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S A Batten - Director


26 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BATTEN AND ALLEN LIMITED

Opinion
We have audited the financial statements of Batten and Allen Limited (the 'company') for the year ended 31 May 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 May 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BATTEN AND ALLEN LIMITED


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

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

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

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

It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the company's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

- obtained an understanding of the nature of the industry and sector, including the legal and regulatory frameworks that the company operates in and how the company is complying with the legal and regulatory frameworks;
- enquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;
- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are employment law, health and safety legislation, FRS 102, the Companies Act 2006 and tax law. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements, which included:

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and assessing whether the judgements made in making accounting estimates are indicative of potential bias.
- Enquiring of management around actual and potential litigation and claims, including health and safety.
- Enquiring of company's staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

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
BATTEN AND ALLEN 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.




Adam Bexon MChem FCA (Senior Statutory Auditor)
for and on behalf of Burrows Scarborough Limited
(Statutory Auditor)
Sovereign House
12 Warwick Street
Coventry
CV5 6ET

26 February 2025

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 15,240,345 23,064,099

Cost of sales 13,277,602 17,961,497
GROSS PROFIT 1,962,743 5,102,602

Distribution costs 218,077 475,044
Administrative expenses 1,657,072 2,513,814
1,875,149 2,988,858
OPERATING PROFIT 5 87,594 2,113,744

Interest receivable and similar income 30,058 39,911
117,652 2,153,655

Interest payable and similar expenses 6 95,542 39,286
PROFIT BEFORE TAXATION 22,110 2,114,369

Tax on profit 7 (466,949 ) 482,683
PROFIT FOR THE FINANCIAL YEAR 489,059 1,631,686

OTHER COMPREHENSIVE INCOME
Purchase of own shares (230,384 ) -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(230,384

)

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

258,675

1,631,686

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 4,861,141 4,528,247
Investments 10 85,600 85,600
4,946,741 4,613,847

CURRENT ASSETS
Stocks 11 5,872,780 7,777,452
Debtors: amounts falling due within one year 12 2,319,913 3,216,141
Debtors: amounts falling due after more than
one year

12

134,184

263,719
Cash at bank and in hand 4,056,480 3,560,733
12,383,357 14,818,045
CREDITORS
Amounts falling due within one year 13 7,373,032 9,265,155
NET CURRENT ASSETS 5,010,325 5,552,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,957,066

10,166,737

CREDITORS
Amounts falling due after more than one year 14 (1,403,320 ) (1,103,189 )

PROVISIONS FOR LIABILITIES 19 (225,017 ) (610,447 )
NET ASSETS 8,328,729 8,453,101

CAPITAL AND RESERVES
Called up share capital 20 4,771 5,016
Share premium 21 5,000 5,000
Capital redemption reserve 21 10,229 9,984
Retained earnings 21 8,308,729 8,433,101
SHAREHOLDERS' FUNDS 8,328,729 8,453,101

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





S A Batten - Director


BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 June 2022 5,016 7,349,162 5,000 9,984 7,369,162

Changes in equity
Dividends - (547,747 ) - - (547,747 )
Total comprehensive income - 1,631,686 - - 1,631,686
Balance at 31 May 2023 5,016 8,433,101 5,000 9,984 8,453,101

Changes in equity
Reduction in share capital (245 ) - - - (245 )
Dividends - (382,802 ) - - (382,802 )
Total comprehensive income - 258,430 - 245 258,675
Balance at 31 May 2024 4,771 8,308,729 5,000 10,229 8,328,729

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,704,580 982,181
Interest paid (26 ) (219 )
Interest element of hire purchase payments
paid

(95,516

)

(39,067

)
Tax refund 48,096 -
Net cash from operating activities 1,657,134 942,895

Cash flows from investing activities
Purchase of tangible fixed assets (1,240,824 ) (2,395,384 )
Sale of tangible fixed assets 44,500 104,610
Interest received 28,779 39,911
Net cash from investing activities (1,167,545 ) (2,250,863 )

Cash flows from financing activities
Proceeds from new finance leases 934,236 1,313,746
Capital repayments in year (444,160 ) (312,545 )
Amount introduced by directors 129,535 -
Amount withdrawn by directors - 206,847
Share buyback (230,629 ) -
Equity dividends paid (382,802 ) (547,747 )
Net cash from financing activities 6,180 660,301

Increase/(decrease) in cash and cash equivalents 495,769 (647,667 )
Cash and cash equivalents at beginning of
year

2

3,560,711

4,208,378

Cash and cash equivalents at end of year 2 4,056,480 3,560,711

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

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

2024 2023
£    £   
Profit before taxation 22,110 2,114,369
Depreciation charges 866,052 779,980
Profit on disposal of fixed assets (2,624 ) (57,758 )
Finance costs 95,542 39,286
Finance income (30,058 ) (39,911 )
951,022 2,835,966
Decrease/(increase) in stocks 1,904,672 (2,966,194 )
Decrease in trade and other debtors 911,738 945,973
(Decrease)/increase in trade and other creditors (2,062,852 ) 166,436
Cash generated from operations 1,704,580 982,181

2. CASH AND CASH EQUIVALENTS

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

Year ended 31 May 2024
31.5.24 1.6.23
£    £   
Cash and cash equivalents 4,056,480 3,560,733
Bank overdrafts - (22 )
4,056,480 3,560,711
Year ended 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 3,560,733 4,208,387
Bank overdrafts (22 ) (9 )
3,560,711 4,208,378


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.6.23 Cash flow At 31.5.24
£    £    £   
Net cash
Cash at bank and in hand 3,560,733 495,747 4,056,480
Bank overdrafts (22 ) 22 -
3,560,711 495,769 4,056,480
Debt
Finance leases (1,475,611 ) (490,076 ) (1,965,687 )
(1,475,611 ) (490,076 ) (1,965,687 )
Total 2,085,100 5,693 2,090,793

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Batten and Allen 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.

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.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates that involve judgements that have been made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements include useful economic life of tangible fixed assets, bad debts provisions, stock provisions and absorption of labour and overheads in stock.

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

Sale of goods

Revenue from the sales of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the company will received the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 50% on cost, 15% on cost and 10% on cost
Fixtures and fittings - 33% on cost, 20% on cost and 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Assets under construction are not depreciated.

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.

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

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 balance sheet date.


BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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 balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the 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 balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern
The directors monitor the business on a timely basis in order to assess performance and manage business risk. The directors have given consideration to the cash flow forecasts and budgeted profitability for a period of at least 12 months from the date of approval of the financial statements. As noted in the principal risks and uncertainties disclosure there are certain important customer relationships which are long standing and the directors do not anticipate material alterations. Furthermore, the directors are satisfied that the company has access to adequate resources to enable it to adjust to any unforeseen changes to its business model. On this basis the directors are of the opinion that there are no material uncertainties in relation to going concern and therefore believe that it is appropriate to prepare the financial statements on a going concern basis.

3. TURNOVER

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

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

2024 2023
£    £   
Component/parts sales 14,007,251 21,783,420
Tooling sales 486,278 1,246,579
Scrap sales 746,816 34,100
15,240,345 23,064,099

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 1,632,075 1,836,315
Europe 4,950,500 7,047,591
Rest of the world 8,657,770 14,180,193
15,240,345 23,064,099

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,839,524 4,532,701
Social security costs 360,365 408,036
Other pension costs 281,631 386,537
4,481,520 5,327,274

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

Production 90 97
Distribution 9 9
Administration 19 18
118 124

2024 2023
£    £   
Directors' remuneration 504,696 552,468
Directors' pension contributions to money purchase schemes 14,917 92,520

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

Money purchase schemes 1 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 215,493 184,751

5. OPERATING PROFIT

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

2024 2023
£ £

Depreciation - owned assets 604,201577,822
Depreciation - finance leases 261,853202,158
Profit on disposal of fixed assets (2,624)(57,758)
Auditors' remuneration 19,28337,268
Foreign exchange differences (2,143)79,666


6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 26 219
Hire purchase 95,516 39,067
95,542 39,286

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
Adjustment to prior year (81,519 ) -

Deferred tax:
Deferred tax (5,750 ) 482,683
Deferred tax prior adjustment (379,680 ) -
Total deferred tax (385,430 ) 482,683
Tax on profit (466,949 ) 482,683

Reconciliation of total tax (credit)/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 22,110 2,114,369
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20%)

5,528

422,874

Effects of:
Expenses not deductible for tax purposes (6,600 ) 859
Adjustments to tax charge in respect of previous periods (474,981 ) -
Remeasurement of deffered tax charge for changes in tax rate - 96,482
Depreciation on Fixed assets not subject to capital allowances 9,104 37,092
Super deduction enhanced capital allowances - (74,624 )
Total tax (credit)/charge (466,949 ) 482,683

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Purchase of own shares (230,384 ) - (230,384 )

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. TAXATION - continued

Deferred tax:

Deferred tax included in the balance sheet is as follows:

20242023
££

Included in provisions for liabilities (note 20)225,017230,767

Accelerated capital allowances225,017274,266

Short-term timing difference-(43,499)


The expectation is that the deferred tax liability will fall by £152,348 in the next financial year. This consists of the tax on depreciation that will be charged in excess of capital allowances to be claimed in the year to 31st May 2025 on the specific assets on the balance sheet at 31st May 2024 that are eligible for capital allowances.

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1.00 each
Interim 382,802 547,747

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 1,586,144 11,622,702 1,071,574
Additions - 1,086,314 36,893
Disposals - (41,882 ) -
At 31 May 2024 1,586,144 12,667,134 1,108,467
DEPRECIATION
At 1 June 2023 763,473 8,427,292 852,732
Charge for year 31,805 623,941 75,185
Eliminated on disposal - (9,005 ) -
At 31 May 2024 795,278 9,042,228 927,917
NET BOOK VALUE
At 31 May 2024 790,866 3,624,906 180,550
At 31 May 2023 822,671 3,195,410 218,842

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 265,798 466,525 15,012,743
Additions 37,076 80,541 1,240,824
Disposals (35,995 ) - (77,877 )
At 31 May 2024 266,879 547,066 16,175,690
DEPRECIATION
At 1 June 2023 66,460 374,539 10,484,496
Charge for year 51,511 83,612 866,054
Eliminated on disposal (26,996 ) - (36,001 )
At 31 May 2024 90,975 458,151 11,314,549
NET BOOK VALUE
At 31 May 2024 175,904 88,915 4,861,141
At 31 May 2023 199,338 91,986 4,528,247

In the previous year Assets under construction of £274,149 relating to plant of equipment were shown separately. For the presentation of this years accounts this amount has been shown within the plant and equipment figures above.

10. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 June 2023
and 31 May 2024 85,600
NET BOOK VALUE
At 31 May 2024 85,600
At 31 May 2023 85,600

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

Palmer Plating Limited
Registered office: Bridge End, Love Lane Trading Estate, Cirencester, Glos., GL7 1NQ
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 47,600 47,600

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. FIXED ASSET INVESTMENTS - continued

Batten and Allen International Limited
Registered office: Bridge End, Love Lane Trading Estate, Cirencester, Glos., GL7 1NQ
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 48,000 48,000

Investments in subsidiaries are measured at cost less accumulated impairment.

11. STOCKS
2024 2023
£    £   
Raw materials and consumables 4,941,311 6,357,631
Work-in-progress - 556,891
Finished goods 931,469 862,930
5,872,780 7,777,452

12. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,605,407 2,142,680
Amounts recoverable on contract 122,108 -
Other debtors 1,320 43,649
Directors' current accounts 58,151 56,872
Taxation 193,156 178,927
VAT 150,960 434,083
Prepayments 188,811 359,930
2,319,913 3,216,141

Amounts falling due after more than one year:
Other debtors 134,184 263,719

Aggregate amounts 2,454,097 3,479,860

Included in Other debtors falling due after more than one year are amounts owed to the company by directors totalling £134,184 (2023 £263,719).

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) - 22
Hire purchase contracts (see note 16) 562,367 372,422
Trade creditors 1,507,347 2,305,926
Amounts owed to group undertakings 95,600 95,600
Tax - 19,194
Social security and other taxes 79,770 106,993
Other creditors 391 7,094
Accruals and deferred income 5,127,557 6,357,904
7,373,032 9,265,155

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 16) 1,403,320 1,103,189

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 22

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 562,367 372,422
Between one and five years 1,403,320 1,103,189
1,965,687 1,475,611

Non-cancellable operating leases
2024 2023
£    £   
Within one year 28,609 43,883
Between one and five years 34,359 62,967
62,968 106,850

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,965,687 1,475,611

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

18. FINANCIAL INSTRUMENTS

All financial assets and liabilities are measured at amortised cost.

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 225,017 610,447

Deferred
tax
£   
Balance at 1 June 2023 610,447
Credit to Statement of Comprehensive Income during year (5,750 )
Prior year adjustment (379,680 )
Balance at 31 May 2024 225,017

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,771 Ordinary £1.00 4,771 5,016

The company purchased 245 of its own shares in the period to 31st May 2024.

All shares have full rights in respect to voting, dividends and to participate in a distribution (including on winding up).

21. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 June 2023 8,433,101 5,000 9,984 8,448,085
Profit for the year 489,059 489,059
Dividends (382,802 ) (382,802 )
Purchase of own shares (230,629 ) - 245 (230,384 )
At 31 May 2024 8,308,729 5,000 10,229 8,323,958

Retained earnings
This reserve records the distributable reserves of the company.

Share premium
This reserve records the amount above the nominal value received for shares sold.

Capital redemption reserve
This reserve records the nominal value of shares repurchased by the company.

22. PENSION COMMITMENTS

The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost represents contributions payable by the company to the fund and amounted to £281,631 (2023 £389,829). Contributions totalling £nil (2023 £nil) were payable to the funds at the year end.

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

23. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 65,189

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
S A Batten
Balance outstanding at start of year 56,871 -
Amounts advanced 1,280 56,871
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,151 56,871

I A Mackinnon
Balance outstanding at start of year 127,285 137,330
Amounts repaid (127,285 ) (10,045 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 127,285

D Legg
Balance outstanding at start of year 69,325 73,825
Amounts repaid (2,250 ) (4,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 67,075 69,325

D P Merchant
Balance outstanding at start of year 67,108 71,707
Amounts repaid - (4,599 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 67,108 67,108

The loan made to S A Batten, a director, is repayable on demand, and interest was charged at 2.25% per annum amounting to £1,279 during the year.

Loans to D Legg and D Merchant, both directors, are repayable in more than 5 years and no interest in chargeable.

25. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
2024 2023
£    £   
Amount due to related party 95,600 95,600

BATTEN AND ALLEN LIMITED (REGISTERED NUMBER: 01075810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

25. RELATED PARTY DISCLOSURES - continued

Other related parties

At the year end, the company owed Palmer Plating Limited, a subsidiary company, £47,600 (2023 £47,600).

At the year end, the company owed Batten and Allen International Limited, a subsidiary company, £48,000 (2023 £48,000).

26. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S A Batten.