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REGISTERED NUMBER: 00282575 (England and Wales)










Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

For The Year Ended 30 September 2024

for

Dudbridge Estates Ltd

Dudbridge Estates Ltd (Registered number: 00282575)






Contents of the Consolidated Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


Dudbridge Estates Ltd

Company Information
For The Year Ended 30 September 2024







DIRECTORS: M W Large
Mrs C M Large



SECRETARY: M W Large



REGISTERED OFFICE: Brunel Way
Stroudwater Business Park
Stonehouse
Gloucestershire
GL10 3SX



REGISTERED NUMBER: 00282575 (England and Wales)



AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: Lloyds Bank Plc
12 Rowcroft
Stroud
Gloucestershire
GL5 3BD

Dudbridge Estates Ltd (Registered number: 00282575)

Group Strategic Report
For The Year Ended 30 September 2024

The directors present their strategic report of the company and the group for the year ended 30 September 2024.

In the opinion of the directors, the group did well to consolidate it's position in it's chosen business sector.

REVIEW OF BUSINESS
The principle activity of the group is that of the production and marketing of metal pressings and plastic products.

The group's key financial indicators are considered by management to be Turnover, Gross Profit and Profit before tax. The results of these for the last 5 years are as follows:-

Financial year end 2024 2023 2022 2021 2020


Turnover movement

-1%

+5%

+17%

+9%

-17%

Gross profit movement

+20%

+8%

(-4%)

+73%

-36%
Profit/(Loss) before tax £503k £204k £236k £492k (£534k )


PRINCIPAL RISKS AND UNCERTAINTIES
The group's markets are essentially those of the production and marketing of metal pressings and plastic products.

These markets continue to be subject to rigorous competition from other operators based both within the United Kingdom and elsewhere.

The group's aim is to compete in its chosen markets through the provision of quality services to its customers.

ON BEHALF OF THE BOARD:





M W Large - Director


31 March 2025

Dudbridge Estates Ltd (Registered number: 00282575)

Report of the Directors
For The Year Ended 30 September 2024

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

DIVIDENDS
The total distribution of dividends for the year ended 30 September 2024 will be £ 40,000 .

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

M W Large
Mrs C M Large

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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, Kingscott Dix Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M W Large - Director


31 March 2025

Report of the Independent Auditors to the Members of
Dudbridge Estates Ltd

Opinion
We have audited the financial statements of Dudbridge Estates Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 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 30 September 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 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Dudbridge Estates Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

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

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

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

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

In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident.

At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud.

Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud.

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors, and inspection of the Company's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit.

The group is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including related companies, distributable profits and taxation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements.

Report of the Independent Auditors to the Members of
Dudbridge Estates Ltd


The group is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, provision and use of work equipment regulations, employment laws, GDPR and environmental laws and regulations recognising the nature of the company's activities. Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Directors and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so.

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.




Stephen Baily FCA (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

3 April 2025

Dudbridge Estates Ltd (Registered number: 00282575)

Consolidated
Income Statement
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   

TURNOVER 3 7,886,050 7,995,051

Cost of sales 5,833,431 6,278,566
GROSS PROFIT 2,052,619 1,716,485

Administrative expenses 1,447,267 1,414,155
605,352 302,330

Other operating income 3,000 2,996
OPERATING PROFIT 5 608,352 305,326

Interest receivable and similar income 11,176 7,592
619,528 312,918

Interest payable and similar expenses 6 116,658 108,720
PROFIT BEFORE TAXATION 502,870 204,198

Tax on profit 7 448,245 114,367
PROFIT FOR THE FINANCIAL YEAR 54,625 89,831
Profit attributable to:
Owners of the parent 54,625 89,831

Dudbridge Estates Ltd (Registered number: 00282575)

Consolidated
Other Comprehensive Income
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   

PROFIT FOR THE YEAR 54,625 89,831


OTHER COMPREHENSIVE INCOME
Revaluation gain on freehold property 665,380 -
Income tax relating to other
comprehensive income

-

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

665,380

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

720,005

89,831

Total comprehensive income attributable to:
Owners of the parent 720,005 89,831

Dudbridge Estates Ltd (Registered number: 00282575)

Consolidated Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 8,849,420 8,356,606
Investments 12 - -
8,849,420 8,356,606

CURRENT ASSETS
Stocks 13 1,012,759 1,332,402
Debtors 14 1,279,246 1,360,236
Cash at bank 2,375,003 1,278,044
4,667,008 3,970,682
CREDITORS
Amounts falling due within one year 15 1,437,705 1,298,041
NET CURRENT ASSETS 3,229,303 2,672,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,078,723

11,029,247

CREDITORS
Amounts falling due after more than one
year

16

(1,793,974

)

(1,929,260

)

PROVISIONS FOR LIABILITIES 20 (704,415 ) (199,658 )
NET ASSETS 9,580,334 8,900,329

CAPITAL AND RESERVES
Called up share capital 21 4,657 4,657
Share premium 595,216 595,216
Revaluation reserve 1,007,435 644,850
Capital redemption reserve 7,979 7,979
Retained earnings 7,965,047 7,647,627
SHAREHOLDERS' FUNDS 9,580,334 8,900,329

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





M W Large - Director


Dudbridge Estates Ltd (Registered number: 00282575)

Company Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 7,500,000 6,834,620
Investments 12 215,326 315,226
7,715,326 7,149,846

CURRENT ASSETS
Cash at bank 171,736 128,507

CREDITORS
Amounts falling due within one year 15 863,406 1,043,309
NET CURRENT LIABILITIES (691,670 ) (914,802 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,023,656

6,235,044

CREDITORS
Amounts falling due after more than one
year

16

(1,793,974

)

(1,929,260

)

PROVISIONS FOR LIABILITIES 20 (380,241 ) (48,932 )
NET ASSETS 4,849,441 4,256,852

CAPITAL AND RESERVES
Called up share capital 21 4,657 4,657
Share premium 53,995 53,995
Revaluation reserve 1,007,435 644,850
Retained earnings 3,783,354 3,553,350
SHAREHOLDERS' FUNDS 4,849,441 4,256,852

Company's (loss)/profit for the financial
year

(32,791

)

303,753

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





M W Large - Director


Dudbridge Estates Ltd (Registered number: 00282575)

Consolidated Statement of Changes in Equity
For The Year Ended 30 September 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 October 2022 4,657 7,577,796 595,216

Changes in equity
Profit for the year - 89,831 -
Total comprehensive income - 89,831 -
Dividends - (20,000 ) -
Balance at 30 September 2023 4,657 7,647,627 595,216

Changes in equity
Profit for the year - 54,625 -
Other comprehensive income - 302,795 -
Total comprehensive income - 357,420 -
Dividends - (40,000 ) -
Balance at 30 September 2024 4,657 7,965,047 595,216
Capital
Revaluation redemption Total
reserve reserve equity
£    £    £   
Balance at 1 October 2022 644,850 7,979 8,830,498

Changes in equity
Profit for the year - - 89,831
Total comprehensive income - - 89,831
Dividends - - (20,000 )
Balance at 30 September 2023 644,850 7,979 8,900,329

Changes in equity
Profit for the year - - 54,625
Other comprehensive income 362,585 - 665,380
Total comprehensive income 362,585 - 720,005
Dividends - - (40,000 )
Balance at 30 September 2024 1,007,435 7,979 9,580,334

Dudbridge Estates Ltd (Registered number: 00282575)

Company Statement of Changes in Equity
For The Year Ended 30 September 2024

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 October 2022 4,657 3,269,597 53,995 644,850 3,973,099

Changes in equity
Profit for the year - 303,753 - - 303,753
Total comprehensive income - 303,753 - - 303,753
Dividends - (20,000 ) - - (20,000 )
Balance at 30 September 2023 4,657 3,553,350 53,995 644,850 4,256,852

Changes in equity
Deficit for the year - (32,791 ) - - (32,791 )
Other comprehensive income - 302,795 - 362,585 665,380
Total comprehensive income - 270,004 - 362,585 632,589
Dividends - (40,000 ) - - (40,000 )
Balance at 30 September 2024 4,657 3,783,354 53,995 1,007,435 4,849,441

Dudbridge Estates Ltd (Registered number: 00282575)

Consolidated Cash Flow Statement
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,391,201 763,195
Interest paid (116,658 ) (108,720 )
Net cash from operating activities 1,274,543 654,475

Cash flows from investing activities
Purchase of tangible fixed assets (193,041 ) (593,894 )
Sale of tangible fixed assets 179,567 7,315
Interest received 11,176 7,592
Net cash from investing activities (2,298 ) (578,987 )

Cash flows from financing activities
Loan repayments in year (135,286 ) (134,257 )
Equity dividends paid (40,000 ) (20,000 )
Net cash from financing activities (175,286 ) (154,257 )

Increase/(decrease) in cash and cash equivalents 1,096,959 (78,769 )
Cash and cash equivalents at
beginning of year

2

1,278,044

1,356,813

Cash and cash equivalents at end of
year

2

2,375,003

1,278,044

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Cash Flow Statement
For The Year Ended 30 September 2024

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

30.9.24 30.9.23
£    £   
Profit before taxation 502,870 204,198
Depreciation charges 202,773 182,282
Profit on disposal of fixed assets (16,733 ) (7,315 )
Finance costs 116,658 108,720
Finance income (11,176 ) (7,592 )
794,392 480,293
Decrease in stocks 319,643 538,318
Decrease/(increase) in trade and other debtors 137,502 (218,619 )
Increase/(decrease) in trade and other creditors 139,664 (36,797 )
Cash generated from operations 1,391,201 763,195

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 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 2,375,003 1,278,044
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 1,278,044 1,356,813


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank 1,278,044 1,096,959 2,375,003
1,278,044 1,096,959 2,375,003
Debt
Debts falling due within 1 year (363,282 ) - (363,282 )
Debts falling due after 1 year (1,929,260 ) 135,286 (1,793,974 )
(2,292,542 ) 135,286 (2,157,256 )
Total (1,014,498 ) 1,232,245 217,747

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Dudbridge Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of bespoke manufactured metal pressings largely for the automotive and plumbing industries net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Goodwill
Goodwill on consolidation, being the amount paid in connection with the acquisition of a business in 2016, has been amortised evenly over its estimated useful life of five years.

Intangible assets
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.

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 - 10% on cost and 10% to 20% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 20% on cost

No depreciation is provided on freehold buildings because in the directors opinion the real (inflation adjusted) estimated residual value is not less than the carrying value in the accounts.

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Work in progress is valued on the basis of cost of direct materials and labour plus attributable
overheads based on a normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
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 assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, and loans, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.


Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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 geographical market is given below:

30.9.24 30.9.23
£    £   
United Kingdom 4,163,260 4,689,128
Europe 3,182,470 2,821,104
Rest of the World 540,320 484,819
7,886,050 7,995,051

4. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 1,674,956 1,730,392
Social security costs 164,871 166,196
Other pension costs 132,015 115,933
1,971,842 2,012,521

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.9.24 30.9.23

Directors 2 2
Production 42 42
Selling and administration 7 10
51 54

The average number of employees by undertakings that were proportionately consolidated during the year was 49 (2023 - 52 ) .

30.9.24 30.9.23
£    £   
Directors' remuneration 100,046 120,815
Directors' pension contributions to money purchase schemes 94,609 76,571

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

Money purchase schemes 2 2

5. OPERATING PROFIT

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

30.9.24 30.9.23
£    £   
Depreciation - owned assets 202,773 182,282
Profit on disposal of fixed assets (16,733 ) (7,315 )
Auditors' remuneration 20,100 17,600
Auditors' remuneration for non audit work 4,998 10,991

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Bank interest 20,776 18,139
Loan 95,882 90,581
116,658 108,720

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
Overprovision in prior years (56,512 ) -

Deferred tax 504,757 114,367
Tax on profit 448,245 114,367

UK corporation tax has been charged at 25 % (2023 - 19 %).

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

30.9.24 30.9.23
£    £   
Profit before tax 502,870 204,198
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 19 %)

125,718

38,798

Effects of:
Adjustments to tax charge in respect of previous periods (56,512 ) -
Super deduction enhance relief - (885 )
Deferred tax not adjusted current year - (3,292 )
Deferred tax not adjusted brought forward 59,550 43,572
Change in tax rate 17,609 36,174
Disposal of NQAs (915 ) -
Deferred tax on revaluation of freehold property 302,795 -
Total tax charge 448,245 114,367

Tax effects relating to effects of other comprehensive income

30.9.24
Gross Tax Net
£    £    £   
Revaluation gain on freehold property 665,380 - 665,380

8. 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.


9. DIVIDENDS
30.9.24 30.9.23
£    £   
Interim 40,000 20,000

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
on
consolidation
£   
COST
At 1 October 2023
and 30 September 2024 107,230
AMORTISATION
At 1 October 2023
and 30 September 2024 107,230
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 October 2023 6,834,620 4,633,383 734,415 195,628 12,398,046
Additions - 185,778 7,263 - 193,041
Disposals - (222,121 ) - - (222,121 )
Revaluations 665,380 - - - 665,380
At 30 September 2024 7,500,000 4,597,040 741,678 195,628 13,034,346
DEPRECIATION
At 1 October 2023 - 3,760,664 194,646 86,130 4,041,440
Charge for year - 124,797 41,592 36,384 202,773
Eliminated on disposal - (59,287 ) - - (59,287 )
At 30 September 2024 - 3,826,174 236,238 122,514 4,184,926
NET BOOK VALUE
At 30 September 2024 7,500,000 770,866 505,440 73,114 8,849,420
At 30 September 2023 6,834,620 872,719 539,769 109,498 8,356,606

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2017 644,850 - - - 644,850
Valuation in 2024 665,380 - - - 665,380
Cost 6,189,770 4,597,040 741,678 195,628 11,724,116
7,500,000 4,597,040 741,678 195,628 13,034,346

Company
Freehold
property
£   
COST OR VALUATION
At 1 October 2023 6,834,620
Revaluations 665,380
At 30 September 2024 7,500,000
NET BOOK VALUE
At 30 September 2024 7,500,000
At 30 September 2023 6,834,620

Cost or valuation at 30 September 2024 is represented by:

Freehold
property
£   
Valuation in 2017 644,850
Valuation in 2024 665,380
Cost 6,189,770
7,500,000

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 October 2023 315,226
Impairments (99,900 )
At 30 September 2024 215,326
NET BOOK VALUE
At 30 September 2024 215,326
At 30 September 2023 315,226

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

Subsidiaries

Bandwidth Limited
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary shares 100.00

Stroud Metal Company Limited
Registered office: England & Wales
Nature of business: Manufacturer of metal pressings
%
Class of shares: holding
£1 ordinary 100.00
£1 ordinary A 100.00

Stroud Plastics Company Limited
Registered office: England & Wales
Nature of business: Dormant
%
Class of shares: holding
£1 ordinary 100.00


13. STOCKS

Group
30.9.24 30.9.23
£    £   
Stocks 420,113 619,586
Work-in-progress 99,930 37,433
Finished goods 492,716 675,383
1,012,759 1,332,402

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
30.9.24 30.9.23
£    £   
Trade debtors 1,104,328 1,232,428
Corporation tax 56,512 -
Prepayments and accrued income 118,406 127,808
1,279,246 1,360,236

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Bank loans and overdrafts (see note 17) 138,282 138,282 138,282 138,282
Other loans (see note 17) 225,000 225,000 - -
Trade creditors 800,076 669,260 - -
Social security and other taxes 82,391 132,127 20,000 20,000
Other creditors 40,274 103 40,100 103
Amounts owed to group undertakings - - 562,024 781,924
Accruals and deferred income 151,682 133,269 103,000 103,000
1,437,705 1,298,041 863,406 1,043,309

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

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Bank loans (see note 17) 1,793,974 1,929,260 1,793,974 1,929,260

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

17. LOANS

An analysis of the maturity of loans is given below:

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 138,282 138,282 138,282 138,282
Other loans 225,000 225,000 - -
363,282 363,282 138,282 138,282
Amounts falling due between one and two years:
Bank loans - 1-2 years 141,144 141,144 141,144 141,144
Amounts falling due between two and five years:
Bank loans - 2-5 years 438,894 438,894 438,894 438,894
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,213,936 1,349,222 1,213,936 1,349,222

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Company
The company has contracted with a subsidiary undertaking to rent the freehold premises that it owns for the following future minimum lease income:
30.9.24 30.9.23
£ £

Within 1 year 400,000 400,000
Between 1 and 5 years 1,600,000 1,600,000
After 5 years 300,000 700,000
2,300,000 2,700,000


19. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Bank loans 1,932,256 2,067,542 1,932,256 2,067,542

The bank loan is secured via fixed and floating charges over the property and land at Brunel Way, Stroudwater Business Park, Stonehouse, Gloucestershie, GL10 3SX.

Dudbridge Estates Ltd (Registered number: 00282575)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30 September 2024

20. PROVISIONS FOR LIABILITIES

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Deferred tax 704,415 199,658 380,241 48,932

Group
Deferred
tax
£   
Balance at 1 October 2023 199,658
Provided during year 201,962
Deferred tax on revaluation 302,795
Balance at 30 September 2024 704,415

Company
Deferred
tax
£   
Balance at 1 October 2023 48,932
Provided during year 28,514
Revaluation of Freehold 302,795
Balance at 30 September 2024 380,241

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
4,657 Ordinary Shares £1 4,657 4,657

22. CAPITAL COMMITMENTS
30.9.24 30.9.23
£    £   
Contracted but not provided for in the
financial statements 164,985 -

23. RELATED PARTY DISCLOSURES

Loans from Related Party

At the end of March 2010, a Settlement Trust who has an interest in group shares, loaned the subsidiary Stroud Metal Company Limited £225,000 as an unsecured loan. Interest is payable on this loan quarterly at 4.% above the Bank of England base rate. During the year Stroud Metal Company Limited paid £20,776 (2023: £18,139) interest in respect of this loan. The director, MW Large, is a trustee of this Settlement.

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M W Large.