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Registered number: 11098900
Dearden Holdings Limited
Directors' Report and
Financial Statements
For The Year Ended 31 December 2024
Elsby & Company Limited
Contents
Page
Company Information 1
Directors' Report 2
Independent Auditor's Report 3—5
Consolidated Statement of Income and Retained Earnings 6
Consolidated Balance Sheet 7—8
Company Balance Sheet 9
Notes to the Financial Statements 10—17
Page 1
Company Information
Directors A P Dearden
P Briggs
Secretary S K Dearden
Company Number 11098900
Registered Office Unit 3 Wellingborough Road
Sywell
Northampton
Northamptonshire
NN6 0BN
Accountants Elsby & Company Limited
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Auditors Elsby & Co (Sywell) Ltd
Chartered Accountants and Registered Auditors
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors
The directors who held office during the year were as follows:
A P Dearden
P Briggs
Statement of Directors' Responsibilities
The directors are responsible for preparing 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). 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
A P Dearden
Director
17th March 2025
Page 2
Page 3
Independent Auditor's Report
Opinion
We have audited the financial statements of Dearden Holdings Limited for the year ended 31 December 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; 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 Auditor's 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 the provisions available for small entities, in the circumstances set out in note 18 to the financial statements, 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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, or
  • the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.
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Page 4
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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 is 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.
Auditor's 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 an auditor's report 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: 
As part of our audit in accordance with ISAs (UK), we have exercised professional judgment and maintained professional scepticism throughout the audit. We have also:
  • Assessed the risks of material misstatement whether due to fraud or error and have obtained sufficient and appropriate audit evidence to provide a basis for the opinion.
  • Obtained an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control.
  • Evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
  • Concluded on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.
  • Evaluated the overall presentation, structure and content of the financial statements, including the disclosures,and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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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 that we are required to state to them in an auditor's report 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.
Carl Elsby ACA (Senior Statutory Auditor)
for and on behalf of Elsby & Co (Sywell) Ltd , Statutory Auditor
17th March 2025
Elsby & Co (Sywell) Ltd
Chartered Accountants and Registered Auditors
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Page 5
Page 6
Consolidated Statement of Income and Retained Earnings
2024 2023
Notes £ £
TURNOVER 11,478,562 11,470,746
Cost of sales (7,435,667 ) (7,733,499 )
GROSS PROFIT 4,042,895 3,737,247
Administrative expenses (3,208,432 ) (2,669,450 )
Other operating income 128,679 101,781
OPERATING PROFIT 963,142 1,169,578
Other interest receivable and similar income 6,561 1,208
Interest payable and similar charges (1,638 ) (3,615 )
PROFIT BEFORE TAXATION 968,065 1,167,171
Tax on Profit (250,575 ) (289,461 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 717,490 877,710
RETAINED EARNINGS
As at 1 January 2024 2,407,563 1,737,398
Dividends paid (205,545) (207,545)
As at 31 December 2024 2,919,508 2,407,563
The notes on pages 10 to 17 form part of these financial statements.
Page 6
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Consolidated Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 6 120,089 158,259
Tangible Assets 7 217,772 189,604
337,861 347,863
CURRENT ASSETS
Stocks 9 3,901,157 2,939,428
Debtors 10 2,054,974 1,821,589
Cash at bank and in hand 251,884 133,227
6,208,015 4,894,244
Creditors: Amounts Falling Due Within One Year 11 (2,820,160 ) (2,074,165 )
NET CURRENT ASSETS (LIABILITIES) 3,387,855 2,820,079
TOTAL ASSETS LESS CURRENT LIABILITIES 3,725,716 3,167,942
Creditors: Amounts Falling Due After More Than One Year 12 (18,041 ) (23,756 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 15 (48,750 ) -
Deferred Taxation (53,604 ) (50,810 )
NET ASSETS 3,605,321 3,093,376
CAPITAL AND RESERVES
Called up share capital 16 100 100
Share premium account 685,713 685,713
Profit and Loss Account 2,919,508 2,407,563
SHAREHOLDERS' FUNDS 3,605,321 3,093,376
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
A P Dearden
Director
17th March 2025
The notes on pages 10 to 17 form part of these financial statements.
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Company Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 8 2,350,640 2,350,640
2,350,640 2,350,640
CURRENT ASSETS
Debtors 10 25,387 -
Cash at bank and in hand 160,257 278
185,644 278
Creditors: Amounts Falling Due Within One Year 11 (20,000 ) (15,664 )
NET CURRENT ASSETS (LIABILITIES) 165,644 (15,386 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,516,284 2,335,254
NET ASSETS 2,516,284 2,335,254
CAPITAL AND RESERVES
Called up share capital 16 100 100
Share premium account 685,713 685,713
Profit and Loss Account 1,830,471 1,649,441
SHAREHOLDERS' FUNDS 2,516,284 2,335,254
In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 386,575 (2023: £ 485,766 profit).
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
A P Dearden
Director
17th March 2025
The notes on pages 10 to 17 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Dearden Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11098900 . The registered office is Unit 3 Wellingborough Road, Sywell, Northampton, Northamptonshire, NN6 0BN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2024.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3. Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
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2.4. Significant judgements and estimations
In the application of the Company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 
The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements. 
Stock provisions 
The accounting estimate related to valuation of inventories is considered a “critical accounting estimate” because it is susceptible to changes from period-to-period due to the requirement for management to make estimates relative to each of the underlying factors, ranging from purchasing, to sales. If actual demand or market conditions differ from estimates, inventory adjustments to lower market values would result in a reduction to the carrying value of inventory, an increase in inventory write-offs, and a decrease to gross margins. 
Property dilapidations
Under certain operating leases for land and buildings, the company is obligated to make repairs of dilapidations to the leased property upon expiry of the lease. The company provides for the best estimate of the future unrecoverable costs of its obligations under these leases. 
2.5. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised on delivery of goods to the customer.
2.6. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years. 
2.7. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
2.8. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter
Plant & Machinery 20%-55% on cost
Motor Vehicles 25% on cost
2.9. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.10. Stocks and Work in Progress
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. 
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2.11. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.12. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.13. Pensions
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. Other Operating Income
2024 2023
£ £
Other operating income 128,679 101,781
128,679 101,781
2024
2023
£
£
Sundry receipts
27,523
41,295
Exchange gain
101,156
image
60,486
image
128,679
image
101,781
image
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4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 13,000 11,500
5. Average Number of Employees
Group
Average number of employees, including directors, during the year was: 48 (2023: 41)
Company
Average number of employees, including directors, during the year was: 3 (2023: 3)
48 41
3 3
6. Intangible Assets
Group
Goodwill
£
Cost
As at 1 January 2024 381,698
As at 31 December 2024 381,698
Amortisation
As at 1 January 2024 223,439
Provided during the period 38,170
As at 31 December 2024 261,609
Net Book Value
As at 31 December 2024 120,089
As at 1 January 2024 158,259
Company
The company had no intangible fixed assets as at 31 December 2024 or 31 December 2023.
7. Tangible Assets
Group
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2024 617,559 219,613 837,172
Additions 41,518 99,659 141,177
As at 31 December 2024 659,077 319,272 978,349
...CONTINUED
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Depreciation
As at 1 January 2024 505,803 141,765 647,568
Provided during the period 72,455 40,554 113,009
As at 31 December 2024 578,258 182,319 760,577
Net Book Value
As at 31 December 2024 80,819 136,953 217,772
As at 1 January 2024 111,756 77,848 189,604
The net book value of tangible fixed assets includes the following in respect of assets held under hire purchase contracts: 
2024 2023
£ £
Motor Vehicles 13,755 22,925
Company
The company had no tangible fixed assets as at 31 December 2024 or 31 December 2023.
8. Investments
Company
Subsidiaries
£
Cost
As at 1 January 2024 2,350,640
As at 31 December 2024 2,350,640
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 2,350,640
As at 1 January 2024 2,350,640
The group or company's investments at the Balance Sheet date in the share capital of companies include the following: 
Subsidiary 
Serenco (UK) Limited 
Registered office: Unit 3 Wellingborough Road, Sywell, Northampton NN6 0BN
Nature of business: Distributor of vehicle parts/tools 
%
Class of shares:
Holding 
Ordinary A 
100.00
Ordinary B 
100.00
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9. Stocks
2024 2023
£ £
Stock for resale 2,688,924 2,733,897
Stock in transit 1,212,233 205,531
3,901,157 2,939,428
10. Debtors
Group Company
2024 2023 2024 2023
£ £ £ £
Due within one year
Trade debtors 1,865,785 1,741,608 - -
Amounts owed by group undertakings - - 25,387 -
Other debtors 189,189 79,981 - -
2,054,974 1,821,589 25,387 -
11. Creditors: Amounts Falling Due Within One Year
Group Company
2024 2023 2024 2023
£ £ £ £
Net obligations under finance lease and hire purchase contracts 5,715 5,235 - -
Trade creditors 1,778,951 1,114,203 - -
Bank loans and overdrafts 245,493 69,223 - -
Amounts owed to group undertakings - - - 14,613
Other creditors 249,713 190,040 20,000 1,051
Taxation and social security 540,288 695,464 - -
2,820,160 2,074,165 20,000 15,664
The comparitive 2023 figures have been amended to include stock in transit from overseas where title had passed to the company upon shipment. Stock and trade creditors have been increased by £205,530. 
12. Creditors: Amounts Falling Due After More Than One Year
Group
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 18,041 23,756
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13. Secured Creditors
The following secured debts are included within the balance sheet:
2024
2023
£
£
Bank overdrafts
50,308
55,334
Hire purchase contracts
23,756
28,991
Invoice financing 
219,886
(132,678)
Cash balance
(251,884)
image
(549)
image
42,066
image
(48,902)
image
Bank overdrafts are secured by way of a fixed and floating charge over the assets of the company.
There is a cross guarantee in place with Serenco (UK) Limited, a wholly owned subsidiary of Dearden Holdings Limited.
The invoice discounting advance is secured by way of a fixed and floating charge over all book debts and other debts. As at 31 December 2024, the balance was a current liability (2023 current asset) and included within Bank loans and overdrafts (2023: Cash at bank and in hand).
Hire purchase creditors are secured on the assets to which they relate.
14. Obligations Under Finance Leases and Hire Purchase
Group
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,654 6,653
Later than one year and not later than five years 18,550 25,204
25,204 31,857
Less: Finance charges allocated to future periods 1,448 2,866
23,756 28,991
15. Provisions for Liabilities
Group
Deferred Tax Other Provisions Total
£ £ £
As at 1 January 2024 50,810 - 50,810
Additions - 48,750 48,750
Deferred taxation 2,794 - 2,794
Balance at 31 December 2024 53,604 48,750 102,354
16. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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17. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 94,349 80,101
Later than one year and not later than five years 188,879 117,659
283,228 197,760
18. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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