Company registration number 01255039 (England and Wales)
CHAMBERLAIN DOORS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CHAMBERLAIN DOORS LTD
COMPANY INFORMATION
Directors
Miss K W Diggle
Mr D Blakey
Mr G A Brooks
Mr J P Hampson
Company number
01255039
Registered office
Carlyle House
78 Chorley New Road
Bolton
Auditor
Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
Bankers
Svenska Handelsbanken AB
6 The Courtyard
Calvin Street
Bolton
Solicitors
KBL Solicitors LLP
New Mansion House
63-65 Chorley New Road
Bolton
CHAMBERLAIN DOORS LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 22
CHAMBERLAIN DOORS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

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

Review of the business
The key performance indicators for the company are as follows:
2024
2023
£
£
Turnover
10,634,799
10,819,703
Profit before taxation
199,395
303,971
Gross profit margin
26.12%
26.88%
Net current assets
1,138,566
919,681
Profit and loss reserves
1,466,381
1,346,653
Debtors days
49
44

Despite the optimism for 2024, the wider economic landscape affected many of the company’s key customers in the new house build sector which resulted in a small but limited fall in turnover for the year. Nevertheless, and against a background of increased competition resulting from fewer opportunities, gross margin was maintained and the company restricted the overall decrease in revenues to 1.7%, outperforming the overall industry average decline of 10%.

This period of consistency but no growth has been the ideal opportunity for directors and senior management team to focus on a comprehensive review of processes, systems and operational impact with a view to a more seamless return to higher levels of turnover which is expected in the second half of 2025. The company’s history of careful cost control, strong budgetary management and swift action to address, meant that once again the relevant ratios followed through to the bottom line.

Net current assets and profit and loss reserves both increased in the year and the company’s balance sheet recorded a year end position just short of £1.5m.

Development and performance

It has been a consistent policy of the company to focus on its core activities and expertise and expected levels of customer service are instilled in and demonstrated by staff in all areas of the business. Relationships with key customers and suppliers continue to be strong and despite ongoing pressures on the employment market both in terms of quality of staff and cost, the company remains proud of its record of employee retention and long service.

Despite a relatively flat and challenged economy the company has continued to invest in all areas of the business – upgrades to buildings on the site with the notable installation of solar panels to fuel the offices, improvements across the Blackrod site including new planting and landscaping, a new and cleaner heating system to the warehousing units, new commercial vehicles, IT systems and equipment, staff and training. As planned the implementation of our newly developed distribution software system was fulfilled in the autumn of 2024 and development in this area will continue with an ambition to fully integrate these systems across all divisions by December 2026.

Whilst customer service has always been one of the major drivers of the company and its success the directors will conduct a deep dive during 2025 into our own aspirations for the highest levels of service against what our customers regard as particularly important. This will include a review of how and when we communicate in the most effective way and how we can provide automated tools to assist site contacts to interact with our production planning.

Overall, the directors remain extremely confident, although not complacent, that with our strong and mature reputation, longevity as a leading player in our specific market place and with the support of our loyal, long term and experienced staff that the company remains very well placed to continue to meet the challenges within its control and to face those external challenges ahead.

CHAMBERLAIN DOORS LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

On behalf of the board

Miss K W Diggle
Director
29 May 2025
CHAMBERLAIN DOORS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

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

Principal activities

Chamberlain Doors Ltd is a major independent supplier and distributor of garage doors and accessories, operating from its head office and central distribution centre at Blackrod, Bolton on a national basis throughout the UK. Products are sourced from the UK, Europe and the USA whilst sales are spread evenly across a broad section of the residential housing market. There is no adverse reliance on any sector of the market.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £30,000. The directors do not recommend payment of a final dividend.

Directors

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

Miss K W Diggle
Mr D Blakey
Mr G A Brooks
Mr J P Hampson
Auditor

The auditor, Barlow Andrews LLP, 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
Miss K W Diggle
Director
29 May 2025
CHAMBERLAIN DOORS LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

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.

CHAMBERLAIN DOORS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHAMBERLAIN DOORS LTD
- 5 -
Opinion

We have audited the financial statements of Chamberlain Doors Ltd (the 'company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Statement of Changes in Equity, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

CHAMBERLAIN DOORS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHAMBERLAIN DOORS LTD (CONTINUED)
- 6 -
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 where 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.

 

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

 

CHAMBERLAIN DOORS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHAMBERLAIN DOORS LTD (CONTINUED)
- 7 -

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.

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.

Emma Woods (Senior Statutory Auditor)
For and on behalf of Barlow Andrews LLP, Statutory Auditor
Carlyle House
78 Chorley New Road
Bolton
29 May 2025
CHAMBERLAIN DOORS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
10,634,799
10,819,703
Cost of sales
(7,856,693)
(7,911,135)
Gross profit
2,778,106
2,908,568
Distribution costs
(1,117,942)
(1,125,341)
Administrative expenses
(1,472,594)
(1,484,109)
Operating profit
4
187,570
299,118
Interest receivable and similar income
7
36,337
27,442
Interest payable and similar expenses
8
(22,745)
(25,886)
Gain/(loss) on investments
9
(1,767)
3,297
Profit before taxation
199,395
303,971
Taxation
10
(49,667)
(64,777)
Profit for the financial year
149,728
239,194

The profit and loss account has been prepared on the basis that all operations are continuing operations.

There is no other comprehensive income for the year. The total comprehensive income is the profit for the financial year shown above.
CHAMBERLAIN DOORS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
435,502
599,388
Investments
13
15,553
17,320
451,055
616,708
Current assets
Stocks
14
131,416
151,645
Debtors
15
1,743,134
1,659,596
Cash at bank and in hand
1,863,170
1,487,941
3,737,720
3,299,182
Creditors: amounts falling due within one year
16
(2,599,154)
(2,379,501)
Net current assets
1,138,566
919,681
Total assets less current liabilities
1,589,621
1,536,389
Creditors: amounts falling due after more than one year
17
(43,565)
(74,791)
Provisions for liabilities
Deferred tax liability
19
(69,675)
(104,945)
(69,675)
(104,945)
Net assets
1,476,381
1,356,653
Capital and reserves
Called up share capital
21
10,000
10,000
Profit and loss reserves
1,466,381
1,346,653
Total equity
1,476,381
1,356,653

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 29 May 2025 and are signed on its behalf by:
Miss K W Diggle
Director
Company registration number 01255039 (England and Wales)
CHAMBERLAIN DOORS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
10,000
1,122,459
1,132,459
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
239,194
239,194
Dividends
11
-
(15,000)
(15,000)
Balance at 31 December 2023
10,000
1,346,653
1,356,653
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
149,728
149,728
Dividends
11
-
(30,000)
(30,000)
Balance at 31 December 2024
10,000
1,466,381
1,476,381
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
1
Accounting policies
Company information

Chamberlain Doors Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Carlyle House, 78 Chorley New Road, Bolton.

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 on the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. 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:

 

 

Chamberlain Doors Ltd is a wholly owned subsidiary of Furness Holdings Limited and the results of Chamberlain Doors Ltd are consolidated in the financial statements of Furness Holdings Limited. These consolidated financial statements are available from Companies House, Crown Way, Cardiff.

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 the foreseeable future. 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 goods and services 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.

Revenue from the sale of goods 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.

CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.4
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 land and buildings
Straight line over the remainder of the lease
Plant and machinery
25% straight line
Motor vehicles
25% 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.

1.5
Impairment of fixed assets

At each reporting 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).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

Cost is calculated using the FIFO method of valuation.

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.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.8
Financial instruments

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

 

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

 

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

Basic financial assets

Basic financial assets, which include trade debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
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.

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.

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.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.9
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.

1.10
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 profit and loss account 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.

CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
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.

 

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 profit and loss account, 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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

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

1.12
Retirement benefits

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

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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.

CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
3
Turnover and other revenue

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

2024
2023
£
£
Turnover analysed by class of business
Supply and distribution of garage doors
10,634,799
10,819,703
2024
2023
£
£
Other revenue
Interest income
35,692
25,997
Dividends received
645
1,445
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
14,851
13,685
Depreciation of owned tangible fixed assets
123,827
142,870
Depreciation of tangible fixed assets held under finance leases
160,269
154,845
Profit on disposal of tangible fixed assets
(3,809)
(5,434)
Operating lease charges
279,023
265,240
5
Employees

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

2024
2023
Number
Number
Administration
12
12
Selling and distribution
41
48
Total
53
60

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
1,652,757
1,624,899
Social security costs
132,006
128,620
Pension costs
33,253
32,608
1,818,016
1,786,127
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
139,440
141,122
Company pension contributions to defined contribution schemes
3,339
3,417
142,779
144,539

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
35,692
25,997
Other income from investments
Dividends received
645
1,445
Total income
36,337
27,442
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
5,004
5,701
Interest on finance leases and hire purchase contracts
17,741
20,185
22,745
25,886
9
Fair value movement on fixed asset investments
2024
2023
£
£
Fair value gains/(losses) on financial instruments
Change in value of financial assets held at fair value through profit or loss
(1,767)
3,297
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
84,937
91,625
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Taxation
2024
2023
£
£
(Continued)
- 17 -
Deferred tax
Origination and reversal of timing differences
(35,270)
(26,848)
Total tax charge
49,667
64,777

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
199,395
303,971
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
49,849
71,495
Tax effect of expenses that are not deductible in determining taxable profit
1,127
(6,392)
Permanent capital allowances in excess of depreciation
(1,148)
14
Dividend income
(161)
(340)
Taxation charge for the year
49,667
64,777
11
Dividends
2024
2023
£
£
Interim paid
30,000
15,000
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
12
Tangible fixed assets
Leasehold land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
59,134
386,040
1,095,104
1,540,278
Additions
-
0
53,221
93,180
146,401
Disposals
-
0
-
0
(143,465)
(143,465)
At 31 December 2024
59,134
439,261
1,044,819
1,543,214
Depreciation and impairment
At 1 January 2024
58,891
255,941
626,058
940,890
Depreciation charged in the year
243
48,429
235,424
284,096
Eliminated in respect of disposals
-
0
-
0
(117,274)
(117,274)
At 31 December 2024
59,134
304,370
744,208
1,107,712
Carrying amount
At 31 December 2024
-
0
134,891
300,611
435,502
At 31 December 2023
243
130,099
469,046
599,388

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2024
2023
£
£
Motor vehicles
283,285
379,432
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
13
Fixed asset investments
2024
2023
£
£
Listed investments
15,553
17,320

Investments have been valued at year end at market value.

Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2024
17,320
Valuation changes
(1,767)
At 31 December 2024
15,553
Carrying amount
At 31 December 2024
15,553
At 31 December 2023
17,320
14
Stocks
2024
2023
£
£
Finished goods and goods for resale
131,416
151,645
15
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,548,818
1,472,982
Other debtors
119,649
106,184
Prepayments and accrued income
74,667
80,430
1,743,134
1,659,596
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
16
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
18
99,753
204,090
Trade creditors
2,267,515
1,336,363
Amounts owed to group undertakings
30,000
550,000
Corporation tax
84,937
91,625
Other taxation and social security
30,488
32,915
Other creditors
5,964
6,095
Accruals and deferred income
80,497
158,413
2,599,154
2,379,501
17
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
18
43,565
74,791
18
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
99,753
204,090
In two to five years
43,565
74,791
143,318
278,881

Finance lease payments represent rentals payable by the company for certain motor vehicles. 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 three years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

19
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
69,675
104,945
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19
Deferred taxation
(Continued)
- 21 -
2024
Movements in the year:
£
Liability at 1 January 2024
104,945
Credit to profit or loss
(35,270)
Liability at 31 December 2024
69,675
20
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
33,253
32,608

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.

21
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
9,500
10,000
9,500
9,500
A Ordinary shares of £1 each
500
500
500
500
10,000
10,500
10,000
10,000

 

The holders of ordinary shares are entitled to receive dividends and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regard to the Company's residual assets.

22
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for certain of its properties and motor vehicles. Leases are negotiated for an average term of 3 years and rentals are fixed for this period.

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
67,571
67,571
Between two and five years
58,393
98,477
125,964
166,048
CHAMBERLAIN DOORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
23
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Land and buildings at Scot Lane, Blackrod, are leased from the directors' pension fund at an annual rent of £184,744 (2023: £183,133). There was no balance outstanding at the year end (2023: £Nil).

24
Ultimate controlling party

The company is a subsidiary of Furness Holdings Limited, a company incorporated in England and Wales. Its registered office is Carlyle House, 78 Chorley New Road, Bolton. The ultimate controlling party is Mrs D Chamberlain.

 

Furness Holdings Limited prepares group financial statements and copies can be obtained from Companies House, Crown Way, Maindy, Cardiff.

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