Company Registration No. 02936247 (England and Wales)
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Affinia
The Octagon
Suite E2, 2nd Floor
Middleborough
Colchester
CO1 1TG
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
COMPANY INFORMATION
Directors
Mr L B O Verheyden
Mr P Bindschedler
Mr L E Hoekstra
Mr D M Glattfelder
Company number
02936247
Registered office
Unit 1 The Crags Industrial Park
Morven Street
Cresswell
Derbyshire
S80 4AJ
Auditor
Affinia (Colchester)
The Octagon
Suite E2, 2nd Floor
Middleborough
Colchester
CO1 1TG
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Income statement
7
Statement of financial position
8
Statement of changes in equity
9
Notes to the financial statements
10 - 20
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

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

Principal activities, review of the business and future developments

The principal activity of the company is that of manufacture of insulation products.

 

There have been no events since the Statement of Financial Position date which materially affect the position of the company. The directors' believe that assets, liabilities, equity, revenue and costs are all completely and accurately reported within these financial statements.

 

The directors anticipate that the company will continue to grow in the future at a rate at least equal to the market growth rate and confirms the full commitment to the growth ambitions.

Principal risks and uncertainties

The company's operation exposes it to a variety of financial risks including the effects of changes in price risks, credit risks and liquidity risks.

 

Credit Risk

 

The company's principal financial instruments are cash and trade debtors which represent the company's maximum exposure to credit risk, limited to the difference between insured credit risks and any potential outstanding balance over the debtor's individual credit limits. The company's credit risk is primarily due to its debtors. The company has credit procedures which include due diligence within in-house credit management practices as well as credit insurance.

 

Liquidity Risk

 

The company's exposure to liquidity risk is limited, as at the year end the company held sufficient liquid assets to continue trading. The liquidity risk thereafter is directly linked to the companies' sales and profitability performance.

 

Price Risk

 

The company is exposed to increases in prices of supplier goods, deteriorating the gross profit margin in cases where the UK market (guided by evolution of overall UK Market Construction Unit Pricing evolution) doesn't have the same price elasticity as our suppliers have towards us.

Financial key performance indicators

The directors' continue to monitor the key performance indicators for the business which include Solvency, Liquidity, Gross Margin, Net Margin and Working Capital Requirement.

On behalf of the board

Mr L B O Verheyden
Director
17 April 2025
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £100,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr L B O Verheyden
Mr P Bindschedler
Mr L E Hoekstra
Mr D M Glattfelder
Auditor

The auditor, Affinia (Colchester), is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

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

Medium-sized companies exemption

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

On behalf of the board
Mr L B O Verheyden
Director
17 April 2025
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors are responsible for preparing the annual 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 these financial statements, the directors are required to:

 

 

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.

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
- 4 -
Opinion

We have audited the financial statements of Yorkshire Building Services (Whitwell) Limited (the 'company') for the year ended 31 December 2024 which comprise the income statement, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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:

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 we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

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

Other information

The 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. 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 course of 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 our audit:

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
- 6 -

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 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.

Shaun Roberts
Senior Statutory Auditor
For and on behalf of Affinia (Colchester)
22 April 2025
Chartered Accountants
Statutory Auditor
The Octagon
Suite E2, 2nd Floor
Middleborough
Colchester
CO1 1TG
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
10,100,302
12,676,374
Cost of sales
(6,997,213)
(9,438,975)
Gross profit
3,103,089
3,237,399
Administrative expenses
(2,507,428)
(2,032,352)
Operating profit
4
595,661
1,205,047
Interest payable and similar expenses
7
(27,413)
(53,361)
Profit before taxation
568,248
1,151,686
Tax on profit
8
(197,154)
(216,722)
Profit for the financial year
371,094
934,964

The income statement has been prepared on the basis that all operations are continuing operations.

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
202,896
229,095
Current assets
Stocks
11
1,132,869
1,295,656
Debtors
12
2,708,837
3,799,618
Cash at bank and in hand
613,188
125,842
4,454,894
5,221,116
Creditors: amounts falling due within one year
13
(2,513,359)
(3,663,536)
Net current assets
1,941,535
1,557,580
Total assets less current liabilities
2,144,431
1,786,675
Provisions for liabilities
Provisions
14
94,658
57,390
Deferred tax liability
15
49,394
-
0
(144,052)
(57,390)
Net assets
2,000,379
1,729,285
Capital and reserves
Called up share capital
17
51
51
Capital redemption reserve
49
49
Profit and loss reserves
2,000,279
1,729,185
Total equity
2,000,379
1,729,285

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 17 April 2025 and are signed on its behalf by:
Mr L B O Verheyden
Director
Company registration number 02936247 (England and Wales)
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
51
49
884,221
884,321
Period ended 31 December 2023:
Profit and total comprehensive income
-
-
934,964
934,964
Dividends
9
-
-
(90,000)
(90,000)
Balance at 31 December 2023
51
49
1,729,185
1,729,285
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
371,094
371,094
Dividends
9
-
-
(100,000)
(100,000)
Balance at 31 December 2024
51
49
2,000,279
2,000,379
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Company information

Yorkshire Building Services (Whitwell) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 The Crags Industrial Park, Morven Street, Cresswell, Derbyshire, S80 4AJ.

1.1
Accounting convention

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

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

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

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Holding Soprema SA, tax identification number 558500187. These consolidated financial statements are available from the French registry office - https://www.infogreffe.fr and the companies registered office of 14 Rue de Saint Nazaire, 67100 Strasbourg, France.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of signing the statement of financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

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

 

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

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Tangible fixed assets

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

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

Leasehold improvements
15% Reducing balance
Plant and equipment
15% or 25% Reducing balance and 25% Straight line
Fixtures and fittings
15% Reducing balance and 15% Straight line

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

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

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

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

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
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. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal 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 are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Provisions

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

 

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

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

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

1.15
Leases

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

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In preparing these financial statements, the directors have considered the requirement for any provision for impairment in respect of stock held at the balance sheet date. To identify any impairment, the consumption period of the stock is considered. Judgement is required to estimate the rate at which stock is depreciated based on slow turnover, for which the directors use their experience of the industry, anticipated sales patterns and potential costs to completion and disposals of the stock to estimate the achievable net realisable value.

 

The directors have also considered the requirement for any provision for dilapidations in respect of the lease of property held at the balance sheet date. To identify any future costs, previous instances of charges in relation to returning property to its original state have been considered. Judgement is required to estimate the cost of any projects in undertake this work, for which the directors have used their expertise and experience to estimate the potential costs.

3
Turnover
2024
2023
£
£
Turnover analysed by class of business
Sale of insulation products
10,100,302
12,676,374
2024
2023
£
£
Turnover analysed by geographical market
UK
8,447,771
10,791,307
Overseas
1,652,531
1,885,067
10,100,302
12,676,374
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
1,938
(1,061)
Research and development costs
50,070
38,987
Depreciation of owned tangible fixed assets
61,749
80,582
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
49,840
15,300
For other services
Other assurance services
18,933
1,600
Taxation compliance services
1,000
950
19,933
2,550
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
40
46

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
1,453,417
1,443,070
Social security costs
141,128
139,124
Pension costs
46,992
44,246
1,641,537
1,626,440
7
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
20,593
53,361
Other interest
6,820
-
0
27,413
53,361
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
147,760
216,722
Deferred tax
Origination and reversal of timing differences
49,394
-
0
Total tax charge
197,154
216,722

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
568,248
1,151,686
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
142,062
287,922
Tax effect of expenses that are not deductible in determining taxable profit
1,391
9,566
Tax effect of utilisation of tax losses not previously recognised
-
0
(71,234)
Effect of change in corporation tax rate
-
0
(13,632)
Permanent capital allowances in excess of depreciation
4,307
4,100
Deferred tax
49,394
-
0
Taxation charge for the year
197,154
216,722
9
Dividends
2024
2023
£
£
Final paid
100,000
90,000
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
10
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2024
119,005
1,321,403
80,918
1,521,326
Additions
-
0
30,932
12,946
43,878
Disposals
-
0
-
0
(10,082)
(10,082)
At 31 December 2024
119,005
1,352,335
83,782
1,555,122
Depreciation and impairment
At 1 January 2024
98,722
1,170,036
23,473
1,292,231
Depreciation charged in the year
3,042
43,477
15,230
61,749
Eliminated in respect of disposals
-
0
-
0
(1,754)
(1,754)
At 31 December 2024
101,764
1,213,513
36,949
1,352,226
Carrying amount
At 31 December 2024
17,241
138,822
46,833
202,896
At 31 December 2023
20,283
151,367
57,445
229,095
11
Stocks
2024
2023
£
£
Raw materials and consumables
605,077
1,056,388
Finished goods and goods for resale
527,792
239,268
1,132,869
1,295,656
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,576,648
3,653,623
Amounts owed by group undertakings
9,469
-
0
Other debtors
24,872
16,051
Prepayments and accrued income
97,848
129,944
2,708,837
3,799,618
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
13
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
905,716
907,535
Corporation tax
30,570
216,722
Other taxation and social security
236,749
484,331
Other creditors
414,437
296,488
Accruals and deferred income
925,887
1,758,460
2,513,359
3,663,536

At the statement of financial position date, Lloyds Bank Commercial Finance Ltd held a fixed and floating charge dated 3 April 2018 over all assets of the company.

 

£(426) (2023 £175,739) included in other creditors is secured on book debts.

14
Provisions for liabilities
2024
2023
£
£
Rent and Dilapidations
94,658
57,390
Movements on provisions:
Rent and Dilapidations
£
At 1 January 2024
57,390
Additional provisions in the year
37,268
At 31 December 2024
94,658

The rent and dilapidations provisions are in respect of the building that is currently rented by Yorkshire Building Services (Whitwell) Limited.

15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
49,394
-
YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15
Deferred taxation
(Continued)
- 19 -
2024
Movements in the year:
£
Liability at 1 January 2024
-
Charge to profit or loss
49,394
Liability at 31 December 2024
49,394

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
46,992
44,246

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the year end outstanding contributions were £15,529 (2023: £8,610), these are included within other creditors.

17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
51
51
51
51
18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
223,282
220,991
Between two and five years
652,991
607,283
In over five years
143,750
212,500
1,020,023
1,040,774
19
Directors' transactions

There have been no guarantees given or received in the year.

YORKSHIRE BUILDING SERVICES (WHITWELL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
20
Ultimate controlling party

The company is directly owned by Holding Soprema SA, a company incorporated in France.

 

The smallest group into which Yorkshire Building Services (Whitwell) Limited is consolidated is Holding Soprema SA.

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