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REGISTERED NUMBER: 02723619 (England and Wales)















Group Strategic Report, Directors' Report and

Consolidated Financial Statements for the Year Ended 31 October 2024

for

Storage & Display Equipment Limited

Storage & Display Equipment Limited (Registered number: 02723619)

Contents of the Consolidated Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Group Strategic Report 2

Directors' Report 4

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

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


Storage & Display Equipment Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr J R Bennett
Mr I J Buckton
Mr D R Cartwright
Mr J L Bennett
Mrs V Mee



SECRETARY: Mr I J Buckton



REGISTERED OFFICE: Unit 1, Hazel Court
Midland Way
Barlborough
Chesterfield
Derbyshire
S43 4FD



REGISTERED NUMBER: 02723619 (England and Wales)



INDEPENDENT AUDITORS: Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Lloyds Bank plc
1 High Street
Sheffield
South Yorkshire
S1 2GA

Storage & Display Equipment Limited (Registered number: 02723619)

Group Strategic Report
for the Year Ended 31 October 2024


The directors present their strategic report of the company and the group for the year ended 31 October 2024.

REVIEW OF BUSINESS
The financial year to 31 October 2024 was once again very busy and productive, developing and improving the trading models for all group companies, implemented in previous years. The aim to ensure we are working to the best of our abilities and resources, ensuring we operate as efficient and profitable as we can, to ensure all the group companies successful growth and progression into future years.

SDE Electrical Ltd, incorporated on 26 October 2021, is in a very successful trading position, primarily as an electrical subcontractor to Storage & Display Equipment Ltd. Turnover has nearly doubled this year on the previous year, resulting in increased company profitability.

SDE Energy Solutions Ltd, incorporated on 17 June 2022, continues to successfully trade in the renewables sector to both existing SDE and new customers. The company made the move in January 2023 to primarily the commercial sector, previously servicing domestic and commercial customers. Turnover has increased by 75% and has also increased the companies profitability.

SDE Roofing Ltd, incorporated on 19 May 2023 was incorporated as a subsidiary providing a complimentary service to other companies within the group and new external customers. This company ceased trading during the period, as a result of SDE Energy Solutions Ltd moving out of the domestic renewables sector.

Turnover for all other group companies has increased during the year. The labour and materials market still causes concern within our industry, regarding price, skill and availability. This is something all group companies pay attention to and consider constantly.



KEY FINANCIAL PERFORMANCE INDICATORS

2024 2023
£    £   
Turnover 27,911,187 21,390,240
Operating profit 1,581,372 511,945
Net assets 2,390,760 1,782,526

The year ended 31 October 2024 saw an increase in overall turnover by 30% compared to the previous year, £27.9m (2023: £21.4m). There was a healthy increase in GP margin for the year to 19.2% (2023: 15.8%) and a good increase in profitability.

The financial year provided some excellent trading contracts with existing customers and some new customers to all the SDE group of companies. This has created a solid start to the current trading year and thereafter. Our customer base sectors have expanded and diversified, reducing risk exposure where all customers operate in the same sector. The sales team have secured some great contracts during and beyond the year end, with excellent support from the very solid accounts and admin departments. This should ensure successful trading in 2025 and beyond.


Storage & Display Equipment Limited (Registered number: 02723619)

Group Strategic Report
for the Year Ended 31 October 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Beyond the specific areas of risk and uncertainty identified above, the company continues to face the following key business risks and uncertainties:

Operating risk - loss of key customers. Close working relationship with customers regarding requirements currently, future and any cross-selling.

Financial risk - extending credit to customers. This is mitigated by credit insurance, credit checks on new customers on engagement and reviews of current customers. Aged debtor reporting is undertaken, reviewed and the restriction of credit terms implemented, where deemed appropriate.

People risk - recruitment and staff retention. Recruitment as required is undertaken for suitable employees to add to our valued team. Retaining employees via internal progression and training is undertaken.

Working capital risk - maintaining adequate working capital and forecasting any potential funding requirements, on a constant basis.

FUTURE DEVELOPMENTS
We have a strong and expanding customer base. We are constantly looking to expand our customer base and looking for new opportunities.

SDE Energy Solutions Ltd moved from domestic to commercial solar, this being more stable, profitable and a more workable business model.

The company outgrew their own owned office space and moved into new, larger rented office accommodation in February 2025. This increased space makes daily operations and expansion much more attainable. The owned offices were immediately rented.

ON BEHALF OF THE BOARD:





Mr J R Bennett - Director


10 March 2025

Storage & Display Equipment Limited (Registered number: 02723619)

Directors' Report
for the Year Ended 31 October 2024


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

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the design and supply of storage and display equipment.

DIVIDENDS
Interim dividends of £3.56 per share were paid on the following dates: 23 November 2023, 22 December 2023, 22 January 2024, 23 February 2024, 27 March 2024.

Interim dividends of £5.96 per share were paid on the following dates, 26 April 2024, 31 May 2024, 28 June 2024, 26 July 2024, 30 August 2024, 27 September 2024 & 25 October 2024.

Interim dividends of £10 per share were paid on the following dates: 17 March 2024.

Interim dividends of £8 per share were paid on the following dates: 26 July 2024.

Interim dividends of £4 per share were paid on the following dates: 25 October 2024.

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 October 2024 will be £407,600.

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

Mr J R Bennett
Mr I J Buckton
Mr D R Cartwright
Mr J L Bennett
Mrs V Mee

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and 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.


Storage & Display Equipment Limited (Registered number: 02723619)

Directors' Report
for the Year Ended 31 October 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 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.

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 group'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 group's auditors are aware of that information.

AUDITORS
The auditors, Landin Wilcock & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J R Bennett - Director


10 March 2025

Report of the Independent Auditors to the Members of
Storage & Display Equipment Limited


Opinion
We have audited the financial statements of Storage & Display Equipment Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 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 and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 October 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 and the Directors' Report, 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.

Report of the Independent Auditors to the Members of
Storage & Display Equipment Limited


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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Directors' Report 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 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 Directors' Report.

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 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 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.

Report of the Independent Auditors to the Members of
Storage & Display Equipment Limited


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:

- minimal reliance was placed upon the operating effectiveness of internal controls in the design and performance of our substantive procedures;

- discussions were held with management considering known or suspected non-compliance with laws, regulations and fraud;

- journal entries were reviewed for any entries made outside the ordinary reporting processes with particular emphasis on those with unusual account combinations, entries crediting revenue and those without specific descriptions;

- management assumptions in their significant accounting estimates were challenged and scrutinised.

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

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.




Mr Robert Hampstead (Senior Statutory Auditor)
for and on behalf of Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

17 March 2025

Storage & Display Equipment Limited (Registered number: 02723619)

Consolidated
Income Statement
for the Year Ended 31 October 2024

31/10/24 31/10/23
Notes £    £   

TURNOVER 3 27,911,187 21,390,240

Cost of sales (22,555,292 ) (18,011,364 )
GROSS PROFIT 5,355,895 3,378,876

Distribution costs - (2,000 )
Administrative expenses (3,883,188 ) (2,889,570 )
1,472,707 487,306

Other operating income 108,665 24,639
OPERATING PROFIT 5 1,581,372 511,945

Amounts written off investments 6 (5,000 ) -
1,576,372 511,945

Interest payable and similar expenses 7 (31,404 ) (24,798 )
PROFIT BEFORE TAXATION 1,544,968 487,147

Tax on profit 8 (367,624 ) (108,446 )
PROFIT FOR THE FINANCIAL YEAR 1,177,344 378,701
Profit attributable to:
Owners of the parent 902,202 335,835
Non-controlling interests 275,142 42,866
1,177,344 378,701

Storage & Display Equipment Limited (Registered number: 02723619)

Consolidated
Other Comprehensive Income
for the Year Ended 31 October 2024

31/10/24 31/10/23
Notes £    £   

PROFIT FOR THE YEAR 1,177,344 378,701


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,177,344

378,701

Total comprehensive income attributable to:
Owners of the parent 902,202 335,835
Non-controlling interests 275,142 42,866
1,177,344 378,701

Storage & Display Equipment Limited (Registered number: 02723619)

Consolidated Balance Sheet
31 October 2024

31/10/24 31/10/23
Notes £    £   
FIXED ASSETS
Tangible assets 11 715,730 685,245
Investments 12 30 5,030
Investment property 13 150,000 150,000
865,760 840,275

CURRENT ASSETS
Stocks 14 165,710 273,018
Debtors 15 6,074,252 6,253,036
Cash at bank and in hand 65,826 319,346
6,305,788 6,845,400
CREDITORS
Amounts falling due within one year 16 (4,456,551 ) (5,555,176 )
NET CURRENT ASSETS 1,849,237 1,290,224
TOTAL ASSETS LESS CURRENT LIABILITIES 2,714,997 2,130,499

CREDITORS
Amounts falling due after more than one
year

17

(208,281

)

(231,208

)

PROVISIONS FOR LIABILITIES 21 (115,956 ) (116,765 )
NET ASSETS 2,390,760 1,782,526

CAPITAL AND RESERVES
Called up share capital 22 5,000 5,000
Revaluation reserve 23 83,057 83,057
Other reserves 23 5,000 5,000
Retained earnings 23 2,248,625 1,754,023
SHAREHOLDERS' FUNDS 2,341,682 1,847,080

NON-CONTROLLING INTERESTS 49,078 (64,554 )
TOTAL EQUITY 2,390,760 1,782,526

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:



Mr J R Bennett - Director


Storage & Display Equipment Limited (Registered number: 02723619)

Company Balance Sheet
31 October 2024

31/10/24 31/10/23
Notes £    £   
FIXED ASSETS
Tangible assets 11 598,177 553,016
Investments 12 34 5,034
Investment property 13 150,000 150,000
748,211 708,050

CURRENT ASSETS
Stocks 14 91,857 213,812
Debtors 15 5,568,877 6,091,132
Cash at bank and in hand 29,658 220,629
5,690,392 6,525,573
CREDITORS
Amounts falling due within one year 16 (4,091,283 ) (5,165,827 )
NET CURRENT ASSETS 1,599,109 1,359,746
TOTAL ASSETS LESS CURRENT LIABILITIES 2,347,320 2,067,796

CREDITORS
Amounts falling due after more than one
year

17

(182,526

)

(160,524

)

PROVISIONS FOR LIABILITIES 21 (89,004 ) (87,312 )
NET ASSETS 2,075,790 1,819,960

CAPITAL AND RESERVES
Called up share capital 22 5,000 5,000
Revaluation reserve 23 83,057 83,057
Other reserves 23 5,000 5,000
Retained earnings 23 1,982,733 1,726,903
SHAREHOLDERS' FUNDS 2,075,790 1,819,960

Company's profit for the financial year 663,430 327,519

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:




Mr J R Bennett - Director


Storage & Display Equipment Limited (Registered number: 02723619)

Consolidated Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 November 2022 5,000 1,751,788 83,057

Changes in equity
Dividends - (333,600 ) -
Total comprehensive income - 335,835 -
5,000 1,754,023 83,057
Acquisition of non-controlling
interest

-

-

-
Balance at 31 October 2023 5,000 1,754,023 83,057

Changes in equity
Dividends - (407,600 ) -
Total comprehensive income - 902,202 -
Balance at 31 October 2024 5,000 2,248,625 83,057
Other Non-controlling Total
reserves Total interests equity
£    £    £    £   
Balance at 1 November 2022 5,000 1,844,845 (32,333 ) 1,812,512

Changes in equity
Dividends - (333,600 ) (75,094 ) (408,694 )
Total comprehensive income - 335,835 42,866 378,701
5,000 1,847,080 (64,561 ) 1,782,519
Acquisition of non-controlling
interest

-

-

7

7
Balance at 31 October 2023 5,000 1,847,080 (64,554 ) 1,782,526

Changes in equity
Dividends - (407,600 ) (161,510 ) (569,110 )
Total comprehensive income - 902,202 275,142 1,177,344
Balance at 31 October 2024 5,000 2,341,682 49,078 2,390,760

Storage & Display Equipment Limited (Registered number: 02723619)

Company Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Revaluation Other Total
capital earnings reserve reserves equity
£    £    £    £    £   
Balance at 1 November 2022 5,000 1,732,984 83,057 5,000 1,826,041

Changes in equity
Dividends - (333,600 ) - - (333,600 )
Total comprehensive income - 327,519 - - 327,519
Balance at 31 October 2023 5,000 1,726,903 83,057 5,000 1,819,960

Changes in equity
Dividends - (407,600 ) - - (407,600 )
Total comprehensive income - 663,430 - - 663,430
Balance at 31 October 2024 5,000 1,982,733 83,057 5,000 2,075,790

Storage & Display Equipment Limited (Registered number: 02723619)

Consolidated Cash Flow Statement
for the Year Ended 31 October 2024

31/10/24 31/10/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 794,369 1,258,405
Interest paid (573 ) (1,267 )
Interest element of hire purchase and
finance lease rental payments paid

(30,831

)

(23,531

)
Tax paid (183,303 ) (331,756 )
Net cash from operating activities 579,662 901,851

Cash flows from investing activities
Purchase of tangible fixed assets (84,712 ) (225,401 )
Sale of tangible fixed assets 5,886 82,790
Net cash from investing activities (78,826 ) (142,611 )

Cash flows from financing activities
Loan repayments in year (10,000 ) (10,000 )
Capital repayments in year (175,246 ) (54,271 )
Equity dividends paid (407,600 ) (333,600 )
Dividends paid to minority interests (161,510 ) (75,094 )
Net cash from financing activities (754,356 ) (472,965 )

(Decrease)/increase in cash and cash equivalents (253,520 ) 286,275
Cash and cash equivalents at beginning
of year

2

319,346

33,071

Cash and cash equivalents at end of year 2 65,826 319,346

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 October 2024


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

31/10/24 31/10/23
£    £   
Profit before taxation 1,544,968 487,147
Depreciation charges 219,427 185,655
Loss/(profit) on disposal of fixed assets 612 (12,298 )
Amounts written off investments 5,000 -
Finance costs 31,404 24,798
1,801,411 685,302
Decrease/(increase) in stocks 107,308 (116,047 )
Decrease/(increase) in trade and other debtors 178,784 (2,032,658 )
(Decrease)/increase in trade and other creditors (1,293,134 ) 2,721,808
Cash generated from operations 794,369 1,258,405

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 October 2024
31/10/24 1/11/23
£    £   
Cash and cash equivalents 65,826 319,346
Year ended 31 October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 319,346 33,071


Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 October 2024


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1/11/23 Cash flow changes At 31/10/24
£    £    £    £   
Net cash
Cash at bank
and in hand 319,346 (253,520 ) 65,826
319,346 (253,520 ) 65,826
Debt
Hire purchase and
finance leases (301,452 ) 175,246 - (297,904 )
Debts falling due
within 1 year (10,000 ) - - (10,000 )
Debts falling due
after 1 year (16,667 ) 10,000 - (6,667 )
(328,119 ) 185,246 - (314,571 )
Total (8,773 ) (68,274 ) - (248,745 )

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Storage & Display Equipment 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 October 2024.

A subsidiary undertaking is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The assets and liabilities of subsidiary undertakings are presented in the consolidated statement of financial position in full. The parents share of the subsidiaries post-acquisition changes in equity is included withing group retained earnings. with amounts attributable to non-controlling interests being presented separately in equity.

Transactions, balances and unrealised gains or losses on transactions between the company and its subsidiaries are eliminated in full on consolidation.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Contract revenue recognition

Revenue from construction contracts is recognised by reference to the stage of completion of a contract,
on a contract by contract basis.

The stage of completion on a given contract is calculated by the revenue basis (surveys of works
completed).

Where the outcome of a construction contract cannot be reliably estimated, revenue is recognised only to
the extent that it covers the costs incurred on the contract to the reporting date. Where contract losses are
anticipated, they are recognsied in full immediately in the profit and loss account.

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Long leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost, 25% on reducing balance and 20% on cost
Computer equipment - 25% on cost and 25% on reducing balance

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Government grants
Government grants relating to revenue expenditure are recognised in income on a systematic basis over
the period in which the company recognises the related costs to which the grant is intended to
compensate.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 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.

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

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

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

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

3. TURNOVER

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

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

31/10/24 31/10/23
£    £   
Rendering of services 27,911,187 21,390,240
27,911,187 21,390,240

4. EMPLOYEES AND DIRECTORS
31/10/24 31/10/23
£    £   
Wages and salaries 3,235,734 2,332,024
Social security costs 318,845 250,774
Other pension costs 67,807 43,853
3,622,386 2,626,651

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31/10/24 31/10/23

Direct labour 37 27
Administration, support and sales 25 22
Management 13 15
75 64

31/10/24 31/10/23
£    £   
Directors' remuneration 313,094 187,047

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

Money purchase schemes 5 5

Information regarding the highest paid director for the year ended 31 October 2024 is as follows:
31/10/24
£   
Emoluments etc 184,492

5. OPERATING PROFIT

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

31/10/24 31/10/23
£    £   
Hire of plant and machinery 908,031 798,520
Other operating leases 201,469 86,890
Depreciation - owned assets 121,415 115,013
Depreciation - assets on hire purchase contracts and finance leases 98,012 70,642
Loss/(profit) on disposal of fixed assets 612 (12,298 )
Auditors' remuneration 25,000 28,000
Foreign exchange differences 11,355 (12,481 )

6. AMOUNTS WRITTEN OFF INVESTMENTS
31/10/24 31/10/23
£    £   
Written off fixed asset
investment 5,000 -

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


7. INTEREST PAYABLE AND SIMILAR EXPENSES
31/10/24 31/10/23
£    £   
Bank loan interest 555 808
Other interest payable 18 459
Hire purchase 30,280 23,082
Leasing 551 449
31,404 24,798

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/10/24 31/10/23
£    £   
Current tax:
UK corporation tax 368,433 62,348

Deferred tax (809 ) 46,098
Tax on profit 367,624 108,446

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

31/10/24 31/10/23
£    £   
Profit before tax 1,544,968 487,147
Profit multiplied by the standard rate of corporation tax in the UK of 25
% (2023 - 22.520 %)

386,242

109,706

Effects of:
Expenses not deductible for tax purposes 12,973 (12,688 )
Capital allowances in excess of depreciation (1,012 ) (3,260 )
Utilisation of tax losses (21,450 ) -
Change of tax rate - 14,688
Other short-term timing differences 321 -
Losses unavailable for carry forward 561 -
Consolidation adjustments (8,996 ) -
Unprovided deferred tax (1,015 ) -
Total tax charge 367,624 108,446

9. 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.


Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


10. DIVIDENDS
31/10/24 31/10/23
£    £   
Ordinary shares of £1 each
Interim 407,600 333,600

11. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 November 2023 142,652 61,806 103,834
Additions - 9,476 34,636
Disposals - - (3,500 )
At 31 October 2024 142,652 71,282 134,970
DEPRECIATION
At 1 November 2023 66,975 15,712 59,150
Charge for year 2,856 7,084 20,911
Eliminated on disposal - - (87 )
At 31 October 2024 69,831 22,796 79,974
NET BOOK VALUE
At 31 October 2024 72,821 48,486 54,996
At 31 October 2023 75,677 46,094 44,684

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 3,376 728,121 169,412 1,209,201
Additions 683 171,697 39,918 256,410
Disposals (367 ) (69,316 ) (4,680 ) (77,863 )
At 31 October 2024 3,692 830,502 204,650 1,387,748
DEPRECIATION
At 1 November 2023 195 286,371 95,553 523,956
Charge for year 510 155,456 32,610 219,427
Eliminated on disposal (46 ) (68,704 ) (2,528 ) (71,365 )
At 31 October 2024 659 373,123 125,635 672,018
NET BOOK VALUE
At 31 October 2024 3,033 457,379 79,015 715,730
At 31 October 2023 3,181 441,750 73,859 685,245

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 388,273
Additions 171,697
At 31 October 2024 559,970
DEPRECIATION
At 1 November 2023 91,359
Charge for year 98,012
At 31 October 2024 189,371
NET BOOK VALUE
At 31 October 2024 370,599
At 31 October 2023 296,914

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


11. TANGIBLE FIXED ASSETS - continued

Company
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 November 2023 142,652 61,807 87,240
Additions - 9,476 16,060
Disposals - - -
At 31 October 2024 142,652 71,283 103,300
DEPRECIATION
At 1 November 2023 66,975 15,713 56,529
Charge for year 2,856 7,084 15,218
Eliminated on disposal - - -
At 31 October 2024 69,831 22,797 71,747
NET BOOK VALUE
At 31 October 2024 72,821 48,486 31,553
At 31 October 2023 75,677 46,094 30,711

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 605,063 154,370 1,051,132
Additions 171,698 32,595 229,829
Disposals (69,316 ) (1,890 ) (71,206 )
At 31 October 2024 707,445 185,075 1,209,755
DEPRECIATION
At 1 November 2023 265,166 93,733 498,116
Charge for year 130,856 28,042 184,056
Eliminated on disposal (68,704 ) (1,890 ) (70,594 )
At 31 October 2024 327,318 119,885 611,578
NET BOOK VALUE
At 31 October 2024 380,127 65,190 598,177
At 31 October 2023 339,897 60,637 553,016

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


11. TANGIBLE FIXED ASSETS - continued

Company

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 269,314
Additions 171,698
At 31 October 2024 441,012
DEPRECIATION
At 1 November 2023 71,109
Charge for year 74,232
At 31 October 2024 145,341
NET BOOK VALUE
At 31 October 2024 295,671
At 31 October 2023 198,205

12. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 November 2023 5,030
Disposals (5,000 )
At 31 October 2024 30
NET BOOK VALUE
At 31 October 2024 30
At 31 October 2023 5,030

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


12. FIXED ASSET INVESTMENTS - continued

Company
Unlisted
investments
£   
COST
At 1 November 2023 5,034
Disposals (5,000 )
At 31 October 2024 34
NET BOOK VALUE
At 31 October 2024 34
At 31 October 2023 5,034

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

Subsidiaries

SDE Electrical Limited
Registered office: Unit 1, Hazel Court Midland Way, Barlborough, Chesterfield, S43 4FD
Nature of business: Electrical installation
%
Class of shares: holding
Ordinary 33.33
31/10/24 31/10/23
£    £   
Aggregate capital and reserves 236,411 70,012
Profit for the year 347,909 71,932

The parent company has a minority shareholding in this entity however it exerts control through the fact that it holds the only voting shares in the company.

The company is entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies for the year ended 31 October 2024.

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


12. FIXED ASSET INVESTMENTS - continued

SDE Energy Solutions Limited
Registered office: Unit 1, Hazel Court Midland Way, Barlborough, Chesterfield, S43 4FD
Nature of business: Installation of energy solutions
%
Class of shares: holding
Ordinary 60.00
31/10/24 31/10/23
£    £   
Aggregate capital and reserves 76,670 (76,093 )
Profit/(loss) for the year 152,763 (76,098 )

The company is entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies for the year ended 31 October 2024.

SDE Roofing Limited
Registered office: Unit 1, Hazel Court Midland Way, Barlborough, Chesterfield, S43 4FD
Nature of business: Supply and installation of solar panels
%
Class of shares: holding
Ordinary 20.00
31/10/24 31/10/23
£    £   
Aggregate capital and reserves (2,750 ) (30,585 )
Profit/(loss) for the year 27,848 (30,590 )

The parent company has a minority shareholding in this entity however it exerts control through the fact that it holds the only voting shares in the company.

The company is entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies for the year ended 31 October 2024.

Car Charge Go Ltd

Car Charge Go Ltd have not been audited nor consolidated due to the active proposal to strike off and them having been dormant for the period. The net assets of Car Charge Go Ltd sat at £88 as of 31 October 2023.


Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 150,000
NET BOOK VALUE
At 31 October 2024 150,000
At 31 October 2023 150,000

Company
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 150,000
NET BOOK VALUE
At 31 October 2024 150,000
At 31 October 2023 150,000

The investment property class of fixed assets was revalued on 31 October 2024 by Mr J R Bennett, who is internal to the company. This class of assets has a current value of £150,000 (2023 - £150,000) and a carrying amount at historical cost of £126,447.

There has been no valuation of investment property by an independent valuer.

14. STOCKS

Group Company
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Valuation 165,710 273,018 91,857 213,812

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Trade debtors 4,437,297 3,499,622 3,729,476 3,326,414
Amounts owed by group undertakings - - 292,429 86,403
Amounts recoverable on contract 1,449,631 2,559,073 1,419,188 2,484,859
Other debtors 68,369 78,345 9,792 77,613
Directors' loan accounts 500 20,000 500 20,000
Called up share capital not paid 3 3 - -
Prepayments 118,452 95,993 117,492 95,843
6,074,252 6,253,036 5,568,877 6,091,132

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Bank loans and overdrafts (see note 18) 10,000 10,000 10,000 10,000
Hire purchase contracts and finance leases (see note 19)
96,290

86,911

81,490

65,297
Trade creditors 2,478,114 3,270,820 2,042,835 2,629,294
Debt factor creditor 320,299 754,804 320,299 754,804
Amounts owed to group undertakings - - 439,471 318,872
Tax 194,892 9,762 48,418 -
Social security and other taxes 258,366 121,406 240,668 97,699
VAT 485,501 313,483 401,932 391,600
Other creditors 43,129 34,020 30,686 24,046
Amounts payable on contracts 347,368 811,540 273,735 738,915
Accruals and deferred income 222,592 142,430 201,749 135,300
4,456,551 5,555,176 4,091,283 5,165,827

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Bank loans (see note 18) 6,667 16,667 6,667 16,667
Hire purchase contracts and finance leases (see note 19)
201,614

214,541

175,859

143,857
208,281 231,208 182,526 160,524

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


18. LOANS

An analysis of the maturity of loans is given below:

Group Company
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000 10,000 10,000
Amounts falling due between one and two years:
Bank loans - 1-2 years 6,667 10,000 6,667 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years - 6,667 - 6,667

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts Finance leases
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Net obligations repayable:
Within one year 96,290 75,012 - 11,899
Between one and five years 201,614 214,541 - -
297,904 289,553 - 11,899

Company
Hire purchase contracts Finance leases
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Net obligations repayable:
Within one year 81,490 53,398 - 11,899
Between one and five years 175,859 143,857 - -
257,349 197,255 - 11,899

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


19. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
31/10/24 31/10/23
£    £   
Within one year 210,810 136,203
Between one and five years 288,226 244,291
499,036 380,494

Company
Non-cancellable operating leases
31/10/24 31/10/23
£    £   
Within one year 133,165 86,001
Between one and five years 202,231 147,780
335,396 233,781

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Hire purchase contracts and finance leases 297,904 301,452 257,349 209,154
Invoice financing 320,299 754,804 - 754,804
618,203 1,056,256 257,349 963,958

Hire purchase and finance lease liabilities are secured on the asset to which the agreement relates.

The invoice financing liability is secured by the associated trade debtors.

21. PROVISIONS FOR LIABILITIES

Group Company
31/10/24 31/10/23 31/10/24 31/10/23
£    £    £    £   
Deferred tax 115,956 116,765 89,004 87,312

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


21. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 November 2023 116,765
Credit to Income Statement during year (809 )
Balance at 31 October 2024 115,956

Company
Deferred
tax
£   
Balance at 1 November 2023 87,312
Charge to Income Statement during year 1,692
Balance at 31 October 2024 89,004

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/10/24 31/10/23
value: £    £   
5,000 Ordinary £1 5,000 5,000

23. RESERVES

Group
Retained Revaluation Other
earnings reserve reserves Totals
£    £    £    £   

At 1 November 2023 1,754,023 83,057 5,000 1,842,080
Profit for the year 902,202 902,202
Dividends (407,600 ) (407,600 )
At 31 October 2024 2,248,625 83,057 5,000 2,336,682

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


23. RESERVES - continued

Company
Retained Revaluation Other
earnings reserve reserves Totals
£    £    £    £   

At 1 November 2023 1,726,903 83,057 5,000 1,814,960
Profit for the year 663,430 663,430
Dividends (407,600 ) (407,600 )
At 31 October 2024 1,982,733 83,057 5,000 2,070,790

Retained earnings represent accumulated profits and losses of the group net of dividends and transfers.

The revaluation reserve represents accumulated changes in the fair value of the group's tangible assets subject to a policy of revaluation.

Other reserves is a capital redemption reserve, being the nominal value of ordinary shares bought back by the parent company.

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31/10/24 31/10/23
£    £   
Mr Ian James Buckton
Balance outstanding at start of year 20,000 20,000
Amounts repaid (20,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 20,000

Mr Joshua Luke Bennett
Balance outstanding at start of year - -
Amounts advanced 1,200 -
Amounts repaid (700 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 500 -

25. RELATED PARTY DISCLOSURES

Storage & Display Equipment Limited (Registered number: 02723619)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 October 2024


25. RELATED PARTY DISCLOSURES - continued

Entities over which the entity has control, joint control or significant influence
31/10/24 31/10/23
£    £   
Purchases 2,766,731 1,675,642
Recharges to related party 380,085 78,875
Amount due from related party 300,152 86,403
Amount due to related party 431,748 318,872

The above relates to the parent's subsidiary undertakings. Exemption from disclosure of related party transactions with subsidiary undertakings can not be taken as the subsidiaries are not wholly owned.