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Registered number: 10514342









ACCENT HOLDINGS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
ACCENT HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
J P S Curry 
I Marriott 
P J Tyler 
G A Felgate 
J H L Curry 




Registered number
10514342



Registered office
Field Lodge
Steventon

Hampshire

United Kingdom

RG25 3AY




Independent auditors
Barnes Roffe LLP
Chartered Accountants & Statutory Auditors

3 Brook Business Centre

Cowley Mill Road

Uxbridge

Middlesex

UB8 2FX





 
ACCENT HOLDINGS LIMITED
 

CONTENTS



Page
Group strategic report
1 - 3
Directors' report
4 - 5
Independent auditors' report
6 - 10
Consolidated statement of comprehensive income
11
Consolidated statement of financial position
12
Company statement of financial position
13
Consolidated statement of changes in equity
14
Company statement of changes in equity
15
Consolidated statement of cash flows
16 - 17
Consolidated analysis of net debt
18
Notes to the financial statements
19 - 36


 
ACCENT HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

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

Business review and future developments
 
2024 continued to see good growth in both parts of the business. This allowed the directors to put significant investment into improving the systems and increasing the numbers of staff. The sector (air conditioning) continued to see growth both for legal (Category A, B ratings) and operational (return to work) factors and the group itself performed well in the opinion of the directors, meeting or exceeding most targets set in the group’s budget.
The group opened a Manchester office in the year and continued to develop the Bristol office. The directors expect 2025 to be another successful year including the opening of a dedicated training centre for its engineers.
Principal risks and uncertainties


Risk
Inherent risk assessment
Residual risk assessment
Change since 2023
Managed/Mitigated
Oversight responsibility
1
Difficulty in attracting, engaging and retaining talent
High
High
Unchanged
The group runs a top quartile pay and benefits scheme. The group takes on a number of apprentices and trainees and develops them internally.
CEO & Contracts  Director
2
Undetected / unrestricted cyber attack
High
High
Unchanged
The group runs a top quartile pay and benefits scheme. The group takes on a number of apprentices and trainees and develops them internally.
CEO
3
Adverse economic climate (including NI rises leading to lower employment)
High
High
Increasing
Monthly monitoring of economic environment and costs.
CEO, CFO & Associate Director-Purchasing
4
Significant bad debt
High
High
Unchanged
The group requires credit limits for all its customers and operates an extensive level of review.
CEO & CFO

Page 1

 
ACCENT HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Principal risks and uncertainties (continued)
 

Risk
Inherent risk assessment
Residual risk assessment
Change since 2023
Managed/Mitigated
Oversight responsibility
5
Fraud
High
Medium
Unchanged
Various authorisation
systems all requiring CEO involvement.
CEO & CFO
6
Significant operational disruption
High
Medium
Lowering
Lowering
CEO & CFO
7
Margin Pressure
Medium
Medium
Worsening
Margins are reviewed and discussed monthly at both the Board and holding company level.
CEO, Associate Director - Sales & Contracts Director
8
Stakeholder preception
Medium
Low
Unchanged
Regular services and direct customer and staff contact is originated by the CEO.
CEO
9
Health and Safety
Medium
Medium
Unchanged
The day to day H&S responsibility is a principal function of a Board Director with regular reviews both by the CEO and the Board as a whole.
Health and Safety Director, CEO

Key performance indicators
The Group's turnover increased to £19,511,908 (2023 - £17,024,026) an increase of 15%.

The Group's gross profit remained at 36% (2023 - 36%).

All suppliers were paid to group terms, with all early payment rebates being taken from those suppliers that offered an early settlement scheme.

Because of the annual nature of some big orders the group looks to maintain a divisional backlog between 2.5 and 4 months throughout the year. Below 2.5 we need to source more work, above 4 we may struggle to meet customer expectations on delivery. These parameters were met for 2024.

The group delivered a positive Orders to Sales ratio for the year.

The group’s cash position remained strong and within the parameters agreed between the shareholders and management.

Both the group's profit before tax and profit after tax exceeded the 20% return on capital employed key performance indicator set by the shareholders.

Page 2

 
ACCENT HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Directors' statement of compliance with duty to promote the success of the Company (section 172 statement)
 
The directors recognise their duty to act in good faith to benefit the company’s stakeholders. The directors make decisions to promote the ongoing success of the company. When making decisions the directors consider the impact upon stakeholders as follows:
Employees: We communicate regularly through in person meetings and regular reviews with different levels of management. We engage in extensive levels of staff training, both in house and external, on the job and offsite and in person and digitally. We provide employees with high quality equipment, vehicles and systems. We provide a strong pay and benefits package including free access to a company provided holiday home.
Customers: We provide a differentiated service. Not only based on the skills of the engineers but the total offering from onboarding to finalisation, including all the associated paperwork and certificates they may require.
Community: We are mindful of our local community and routinely provide both funds and staff voluntary hours to local charities. We also provide financial support to staff members doing sponsored charity activities.
Subcontractors: We ensure all subcontractors are properly accredited and have the appropriate insurance in place. We monitor the quality of the work provided and pay them promptly.
Suppliers: We develop long term relationships with selected providers where we look to be a preferred provider for them with ongoing sales referrals.
Shareholders: We have strong financial processes including monthly management reporting and prudent cash management. Surplus funds are returned to the shareholders.


This report was approved by the board on 25 April 2025 and signed on its behalf.



J P S Curry
Director

Page 3

 
ACCENT HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

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

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.
Going concern
At 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 the foreseeable future and for a period of not less than twelve months from the date of approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Results and dividends

The profit for the year, after taxation, amounted to £1,175,634 (2023 - £1,373,634).

Ordinary dividends were paid amounting to £1,154,004 (2023 - £704,377). The directors do not recommend payment of a further dividend for the year ended 31 December 2024.

Page 4

 
ACCENT HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


Directors

The directors who served during the year were:

J A H Curry (resigned on 20 October 2024)
J P S Curry 
I Marriott 
P J Tyler 
G A Felgate 
J H L Curry (appointed on 3 September 2024)

Matters covered in the Group strategic report

The company has chosen in accordance with section 414C of the Companies Act 2006, to set out the following information, which would otherwise be included in the Directors' report, in the Group strategic report: financial risk management, business review and future developments.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no subsequent events that require disclosure or adjustments to the financial statements.

Auditors

The auditorsBarnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 25 April 2025 and signed on its behalf.
 





J P S Curry
Director

Page 5

 
ACCENT HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of Accent Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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's affairs as at 31 December 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 United Kingdom, including the Financial Reporting Council'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 or 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.


Page 6

 
ACCENT HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters 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 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.


Page 7

 
ACCENT HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 4, 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 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 an Auditors' 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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 law and regulations, was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector; 
The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows:
°Companies Act 2006.
°FRS102.
°Employment legislation.
°Tax legislation.
 
We assessed the extent of compliance with the laws and regulations identified above through making inquiries of directors and other management;
Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of noncompliance throughout the audit; and
As auditors of all group companies we were able to cover the above matters at a group and component level and thereby ensure the audit team were aware of the above matters across all group companies.
Page 8

 
ACCENT HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED)


 

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
 
Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud;
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
Reviewing the financial statements and testing the disclosures against supporting documentation;
Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
Inspecting and testing journal entries to identify unusual or unexpected transactions;
Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and
Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.

The areas that we identified as being susceptible to misstatement through fraud were:
 
Management bias in the estimates and judgements made;
Management override of controls; and
Posting of unusual journals or transactions.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 9

 
ACCENT HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCENT HOLDINGS LIMITED (CONTINUED)


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 2006Our 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 Auditors' 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.





Elliot S J Arwas (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants & Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Uxbridge
Middlesex
UB8 2FX

29 April 2025
Page 10

 
ACCENT HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
19,511,908
17,024,026

Cost of sales
  
(12,522,179)
(10,837,540)

Gross profit
  
6,989,729
6,186,486

Administrative expenses
  
(5,103,747)
(4,365,771)

Operating profit
 5 
1,885,982
1,820,715

Revaluation of investments
  
(287,212)
27,143

Income from fixed assets investments
 9 
-
10,240

Profit on sale of investment
  
-
108,343

Interest receivable and similar income
 10 
16,667
-

Interest payable and similar expenses
 11 
(16,510)
(13,088)

Profit before taxation
  
1,598,927
1,953,353

Tax on profit
 12 
(423,293)
(579,719)

Profit for the financial year
  
1,175,634
1,373,634

  

Total comprehensive income for the year
  
1,175,634
1,373,634

The notes on pages 19 to 36 form part of these financial statements.

Page 11

 
ACCENT HOLDINGS LIMITED
REGISTERED NUMBER: 10514342

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
 14 
812,912
1,199,258

Tangible assets
 15 
1,050,386
720,764

Investments
 16 
351,208
389,020

  
2,214,506
2,309,042

Current assets
  

Stocks
 17 
137,196
197,436

Debtors: amounts falling due within one year
 18 
3,887,578
4,116,224

Cash at bank and in hand
 19 
2,798,227
2,872,578

  
6,823,001
7,186,238

Creditors: amounts falling due within one year
 20 
(3,391,570)
(3,825,656)

Net current assets
  
 
 
3,431,431
 
 
3,360,582

Total assets less current liabilities
  
5,645,937
5,669,624

Creditors: amounts falling due after more than one year
 21 
(105,244)
(124,968)

Provisions for liabilities
  

Deferred taxation
 24 
(98,720)
(159,313)

Net assets
  
5,441,973
5,385,343


Capital and reserves
  

Called up share capital 
 25 
2,902,510
2,867,510

Revaluation reserve
 26 
(195,052)
27,143

Profit and loss account
 26 
2,734,515
2,490,690

  
5,441,973
5,385,343


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 April 2025.




J P S Curry
Director

The notes on pages 19 to 36 form part of these financial statements.

Page 12

 
ACCENT HOLDINGS LIMITED
REGISTERED NUMBER: 10514342

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Investments
 16 
5,534,644
5,534,644

  
5,534,644
5,534,644

Current assets
  

Debtors: amounts falling due within one year
 18 
145
84,000

Cash at bank and in hand
 19 
147,049
313,401

  
147,194
397,401

Creditors: amounts falling due within one year
 20 
(197,331)
(237,368)

Net current (liabilities)/assets
  
 
 
(50,137)
 
 
160,033

Total assets less current liabilities
  
5,484,507
5,694,677

Net assets
  
5,484,507
5,694,677


Capital and reserves
  

Called up share capital 
 25 
2,902,510
2,867,510

Profit and loss account brought forward
 26 
2,827,167
2,852,675

Profit for the year
 26 
908,834
678,869

Other changes in the Profit and loss account

 26 

(1,154,004)
(704,377)

Profit and loss account carried forward
 26 
2,581,997
2,827,167

  
5,484,507
5,694,677


As permitted by s408 Companies Act 2006, the company has not presented its own the Statement of comprehensive income account and related notes. The Company's profit for the year was £908,834 (2023 - £678,869).
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 April 2025.


J P S Curry
Director

The notes on pages 19 to 36 form part of these financial statements.

Page 13

 
ACCENT HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
2,867,510
27,143
2,490,690
5,385,343


Comprehensive income for the year

Profit for the year
-
-
1,175,634
1,175,634

Transfer of revaluation
-
(222,195)
222,195
-
Total comprehensive income for the year
-
(222,195)
1,397,829
1,175,634

Dividends: Equity capital
-
-
(1,154,004)
(1,154,004)

Shares issued during the year
35,000
-
-
35,000


At 31 December 2024
2,902,510
(195,052)
2,734,515
5,441,973



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
2,807,510
-
1,848,576
4,656,086


Comprehensive income for the year

Profit for the year
-
-
1,373,634
1,373,634

Transfer of revaluation
-
27,143
(27,143)
-
Total comprehensive income for the year
-
27,143
1,346,491
1,373,634

Dividends: Equity capital
-
-
(704,377)
(704,377)

Shares issued during the year
60,000
-
-
60,000


At 31 December 2023
2,867,510
27,143
2,490,690
5,385,343


The notes on pages 19 to 36 form part of these financial statements.

Page 14

 
ACCENT HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2024
2,867,510
2,827,167
5,694,677


Comprehensive income for the year

Profit for the year
-
908,834
908,834
Total comprehensive income for the year
-
908,834
908,834

Dividends: Equity capital
-
(1,154,004)
(1,154,004)

Shares issued during the year
35,000
-
35,000


At 31 December 2024
2,902,510
2,581,997
5,484,507



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
2,807,510
2,852,675
5,660,185


Comprehensive income for the year

Profit for the year
-
678,869
678,869
Total comprehensive income for the year
-
678,869
678,869

Dividends: Equity capital
-
(704,377)
(704,377)

Shares issued during the year
60,000
-
60,000


At 31 December 2023
2,867,510
2,827,167
5,694,677


The notes on pages 19 to 36 form part of these financial statements.

Page 15

 
ACCENT HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
1,175,634
1,373,634

Adjustments for:

Amortisation of intangible assets
386,346
386,346

Depreciation of tangible assets
294,864
250,950

Profit on disposal of tangible assets
(15,299)
(13,615)

Revaluation of investments
287,212
(27,143)

Interest payable
16,510
13,088

Interest receivable
(16,667)
-

Dividend received from investments
-
(10,240)

Taxation charge
423,293
579,719

Decrease/(increase) in stocks
60,240
(109,728)

Decrease/(increase) in debtors
228,646
(963,050)

(Decrease)/increase in creditors
(334,992)
657,789

Corporation tax paid
(590,466)
(483,371)

Net cash generated from operating activities

1,915,321
1,654,379
Page 16

 
ACCENT HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


2024
2023

£
£




Cash flows from investing activities

Purchase of tangible fixed assets
(661,831)
(322,337)

Sale of tangible fixed assets
52,644
21,997

Purchase of listed investments
(249,400)
(411,322)

Sale of listed investments
-
428,876

Interest received
16,667
-

Hire purchase interest paid
(16,510)
(12,588)

Dividends received from investments
-
10,240

Net cash used in investing activities

(858,430)
(285,134)

Cash flows from financing activities

Issue of ordinary shares
35,000
60,000

Finance leases
(12,238)
46,477

Dividends paid
(1,154,004)
(704,377)

Interest paid
-
(500)

Net cash used in financing activities
(1,131,242)
(598,400)

Net (decrease)/increase in cash and cash equivalents
(74,351)
770,845

Cash and cash equivalents at beginning of year
2,872,578
2,101,733

Cash and cash equivalents at the end of year
2,798,227
2,872,578


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2,798,227
2,872,578

2,798,227
2,872,578


The notes on pages 19 to 36 form part of these financial statements.

Page 17

 
ACCENT HOLDINGS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cash flows
At 31 December 2024
£

£

£

Cash at bank and in hand

2,872,578

(74,351)

2,798,227

Finance leases

(266,990)

12,238

(254,752)


2,605,588
(62,113)
2,543,475

The notes on pages 19 to 36 form part of these financial statements.

Page 18

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Accent Holdings Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Field Lodge, Steventon, Hampshire, United Kingdom, RG25 3AY.
The group consists of Accent Holdings Limited and all of its subsidiaries. The principal activity of the company is that of a holding company.

2.Accounting policies

 
2.1

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 pound.
The financial statements have been prepared under the historical cost convention, modified to include revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

  
2.3

Going concern

At 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 the foreseeable future and for a period of not less than twelve months from the date of approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 19

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover represents amounts receivable for services net of VAT and trade discounts. Revenue is recognised when the company has performed its contractual obligations and a right to consideration has been obtained through its performance.
Revenue from maintenance contracts is recognised on completion of the visit. Revenue from service and repair work is recognised on completion of the work. Revenue from installations is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is normally set as part of the overall project plan agreed with the client.

 
2.5

Intangible assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost Iess accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 20

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives

Depreciation is provided on the following basis:

Leasehold land and buildings
-
Straight line over the life of the lease
Plant and equipment
-
20% and 25% straight line basis
Motor vehicles
-
30% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.7

Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 21

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. 

 
2.11

Financial instruments

The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.

  
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 22

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


  
2.14

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.15

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 23

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

 
2.18

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group’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.
1. Determine whether there are indicators of impairment of trade debtors. Factors taken into consideration in reaching such a decision include the ageing of trade debtors.
2. Sales rebate provisions are made during the year based on the rebate agreements in place. Provisions are accrued during the year using the company's estimate of product sales during the rebate period. As the rebate is based on actual product sales, this can vary from the company's estimate.

Page 24

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Turnover

An analysis of the company's turnover is as follows:


2024
2023
£
£

Turnover analysed by class of business


Installations
10,190,684
9,435,126

Maintenance and repairs
9,321,079
7,588,900

19,511,763
17,024,026

All turnover arose within the United Kingdom.


5.


Operating profit

Operating profit for the year is stated after charging/(crediting):

2024
2023
£
£

Depreciation of tangible fixed assets
294,864
250,950

Profit on disposal of tangible fixed assets
(15,299)
(13,615)

Amortisation of intangible assets
386,346
386,346

Operating lease charges
121,257
99,361


6.


Auditors' remuneration

2024
2023
£
£

Fees payable to the company's auditor and associates:
For audit services

Audit of the financial statements of the group and company
4,120
4,000

Audit of the financial statements of the company’s subsidiaries
15,935
14,500

For other services

Taxation compliance services
1,595
1,550

Page 25

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£



Wages and salaries
5,859,622
4,687,279

Social security
582,394
474,968

Other pension
154,344
113,407

6,596,360
5,275,654

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


2024
2023
No.
No.



Direct
44
37

Administration
57
47

101
84


8.


Directors' remuneration

2024
2023
£
£



Directors' emoluments
668,282
441,423

Company contributions to defined contribution pension schemes
16,263
48,534

684,545
489,957

During the year retirement benefits were accruing to 4 directors (2023 - 3) in respect of defined contribution pension schemes.
The highest paid director received remuneration of £283,515
 (2023 - £192,554).
The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £6,953 (2023 - £7,532).

Page 26

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Income from investments

2024
2023
£
£



Income from current asset investments
-
10,240

-
10,240





10.


Interest receivable

2024
2023
£
£


Other interest receivable
16,667
-

16,667
-


11.


Interest payable and similar expenses

2024
2023
£
£


Other loan interest payable
-
500

Interest on finance leases and hire purchase contracts
16,510
12,588

16,510
13,088

Page 27

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
545,321
528,045

Adjustments in respect of previous years
(61,435)
-


Total current tax
483,886
528,045

Deferred tax


Origination and reversal of timing differences
(60,593)
51,674

Total deferred tax
(60,593)
51,674


Tax on profit
423,293
579,719

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,598,927
1,953,353


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)
399,732
459,038

Effects of:


Tax effect of expenses that are not deductible in determining taxable profit
81,609
10,840

Capital allowances for year differing to depreciation
9,004
(7,274)

Permanent capital allowances in excess of depreciation
(7,024)
(19,744)

Amortisation on assets not qualifying for tax allowances
96,587
90,790

Other timing differences
(3,078)
(3,200)

Deferred tax in respect of revaluation reserve
(92,102)
-

Non-taxable income
-
(2,406)

Tax deduction arising from exercise of employee options
-
51,675

Prior year adjustments in the tax charge
(61,435)
-

Total tax charge for the year
423,293
579,719

Page 28

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
12.Taxation (continued)


Factors that may affect future tax charges

There are no significant factors that may affect future tax charges.


13.


Dividends

Recognised as distributions to equity holders:

2024
2023
£
£


Final dividends paid
1,154,004
704,377

1,154,004
704,377

The directors had an interest in dividends during the year totalling £1,154,004 (2023 - £704,377).


14.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 January 2024
3,863,455



At 31 December 2024

3,863,455



Amortisation


At 1 January 2024
2,664,197


Charge for the year 
386,346



At 31 December 2024

3,050,543



Net book value



At 31 December 2024
812,912



At 31 December 2023
1,199,258


Page 29

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Tangible fixed assets

Group






Leasehold land and buildings
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost


At 1 January 2024
234,651
330,969
1,215,660
1,781,280


Additions
94,908
20,576
546,347
661,831


Disposals
-
-
(189,839)
(189,839)



At 31 December 2024

329,559
351,545
1,572,168
2,253,272



Depreciation


At 1 January 2024
101,163
306,673
652,680
1,060,516


Charge for the year
28,096
14,590
252,178
294,864


Disposals
-
-
(152,494)
(152,494)



At 31 December 2024

129,259
321,263
752,364
1,202,886



Net book value



At 31 December 2024
200,300
30,282
819,804
1,050,386



At 31 December 2023
133,488
24,296
562,980
720,764

The company had no tangible fixed assets at 31 December 2024 or 31 December 2023.

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
367,430
349,763

367,430
349,763

Page 30

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.


Fixed asset investments

Group





Listed investments

£



Valuation


At 1 January 2024
389,020


Additions
249,400


Revaluations
(287,212)



At 31 December 2024
351,208




Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
5,534,644



At 31 December 2024
5,534,644





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Accent Services (Air Conditioning) Limited
England and Wales
Ordinary
100%

Page 31

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Stocks

Group
Group
2024
2023
£
£

Raw materials and consumables
137,196
197,436

137,196
197,436


The Company had no stocks at 31 December 2024 or 31 December 2023.


18.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
3,622,719
3,900,223
-
-

Amounts owed by group undertakings
-
-
-
84,000

Prepayments and accrued income
264,859
216,001
145
-

3,887,578
4,116,224
145
84,000



19.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
2,798,227
2,872,578
147,049
313,401

2,798,227
2,872,578
147,049
313,401


Page 32

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

20.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
1,347,146
2,026,292
-
-

Corporation tax
271,888
378,468
179,481
170,827

Other taxation and social security
477,738
221,071
-
52,000

Obligations under finance lease and hire purchase contracts
149,508
142,022
-
-

Other creditors
27,238
21,386
-
-

Accruals and deferred income
1,118,052
1,036,417
17,850
14,541

3,391,570
3,825,656
197,331
237,368


The finance leases and hire purchase contracts are secured by charges over the assets financed.


21.


Creditors: Amounts falling due after more than one year

Group
Group
2024
2023
£
£

Obligations under finance leases and hire purchase contracts
105,244
124,968

105,244
124,968


The finance leases and hire purchase contracts are secured by charges over the assets financed.


22.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
149,508
142,022

In two to five years
105,244
124,968

254,752
266,990

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

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ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

23.


Financial instruments

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Financial assets

Financial assets that are debt instruments measured at amortised cost
3,622,719
3,900,223
-
84,000

Financial assets measured at fair value through profit or loss
351,208
389,020
-
-

3,973,927
4,289,243
-
84,000


Financial liabilities

Financial liabilities measured at amortised cost
1,629,136
2,314,668
-
-


Financial assets that are debt instruments measured at amortised cost comprise trade debtors and amounts owed by group undertakings. 
Financial assets measured at fair value through profit or loss comprise listed investments.
Financial liabilities measured at amortised cost comprise trade creditors, other creditors and obligations under finance lease and hire purchase contracts.


24.


Deferred taxation


Group



2024


£






At beginning of year
159,313


Credited to the Statement of comprehensive income
(60,593)



At end of year
98,720

Page 34

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
24.Deferred taxation (continued)

Company


Group
Group
2024
2023
£
£

Accelerated capital allowances
170,711
135,224

Pension liability
(6,974)
(2,996)

Investment revaluation
(65,017)
27,085

98,720
159,313


25.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,902,510 (2023 - 2,867,510) Ordinary shares of £1 each
2,902,510
2,867,510


The company has one class of ordinary shares which carry no right to fixed income.
During the year the company issued 35,000 Ordinary shares of £1 each at par value of £1 each.


26.


Reserves

Revaluation reserve

Revaluation reserve represents revaluation reserves on investments net of deferred tax.

Profit and loss account

Profit and loss account includes all current and prior year retained profits and losses.


27.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable to the fund and amounted to £154,344 (2023 - £113,407). The pension fund balance outstanding at the reporting date was £27,238 (2023 - £21,386).

Page 35

 
ACCENT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

28.


Commitments under operating leases

At 31 December 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
92,290
65,822

Between two and five years
138,573
76,863

230,863
142,685

29.


Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 and has not disclosed related party transactions between wholly owned members of the group.
 
At the year end, the group subsidiary had a balance of £9,933 (2023 - £4,978) due from Symtrex Ltd, a related party by virtue of a common director. The balance is included within trade debtors. 


30.


Controlling party

The ultimate controlling party is the J A H Curry Discretionary Trust.

 
Page 36