Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-3063912025-05-30false34falsetrue2023-09-01Manufacture, sale and hire of re-usable fencing38true 12462239 2023-09-01 2024-08-31 12462239 2022-09-01 2023-08-31 12462239 2024-08-31 12462239 2023-08-31 12462239 2022-09-01 12462239 c:Director1 2023-09-01 2024-08-31 12462239 d:Buildings d:LongLeaseholdAssets 2023-09-01 2024-08-31 12462239 d:Buildings d:LongLeaseholdAssets 2024-08-31 12462239 d:Buildings d:LongLeaseholdAssets 2023-08-31 12462239 d:PlantMachinery 2023-09-01 2024-08-31 12462239 d:PlantMachinery 2024-08-31 12462239 d:PlantMachinery 2023-08-31 12462239 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12462239 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12462239 d:MotorVehicles 2023-09-01 2024-08-31 12462239 d:MotorVehicles 2024-08-31 12462239 d:MotorVehicles 2023-08-31 12462239 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12462239 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12462239 d:FurnitureFittings 2023-09-01 2024-08-31 12462239 d:FurnitureFittings 2024-08-31 12462239 d:FurnitureFittings 2023-08-31 12462239 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12462239 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12462239 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 12462239 d:OtherPropertyPlantEquipment 2024-08-31 12462239 d:OtherPropertyPlantEquipment 2023-08-31 12462239 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12462239 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12462239 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12462239 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12462239 d:CurrentFinancialInstruments 2024-08-31 12462239 d:CurrentFinancialInstruments 2023-08-31 12462239 d:Non-currentFinancialInstruments 2024-08-31 12462239 d:Non-currentFinancialInstruments 2023-08-31 12462239 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 12462239 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12462239 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 12462239 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12462239 d:ShareCapital 2024-08-31 12462239 d:ShareCapital 2023-08-31 12462239 d:RetainedEarningsAccumulatedLosses 2024-08-31 12462239 d:RetainedEarningsAccumulatedLosses 2023-08-31 12462239 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 12462239 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 12462239 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 12462239 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 12462239 c:FRS102 2023-09-01 2024-08-31 12462239 c:Audited 2023-09-01 2024-08-31 12462239 c:FullAccounts 2023-09-01 2024-08-31 12462239 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12462239 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 12462239 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 12462239 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 12462239 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 12462239 c:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12462239 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-08-31 12462239 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 12462239 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 12462239


 







BLOK 'N' MESH EUROPE LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
BLOK 'N' MESH EUROPE LIMITED
REGISTERED NUMBER: 12462239

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
                                                                  Note
£
£

Fixed assets
  

Tangible assets
 5 
1,348,332
1,217,297

Current assets
  

Stocks
  
731,805
539,546

Debtors: amounts falling due within one year
 6 
3,427,797
3,164,333

Cash at bank and in hand
  
569,554
1,054,960

  
4,729,156
4,758,839

Creditors: amounts falling due within one year
 7 
(3,726,020)
(4,096,196)

Net current assets
  
 
 
1,003,136
 
 
662,643

Total assets less current liabilities
  
2,351,468
1,879,940

Creditors: amounts falling due after more than one year
 8 
(21,702)
(62,782)

Provisions for liabilities
  

Deferred tax
  
(245,533)
(40,354)

Net assets
  
2,084,233
1,776,804


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,084,232
1,776,803

  
2,084,233
1,776,804


Page 1

 
BLOK 'N' MESH EUROPE LIMITED
REGISTERED NUMBER: 12462239
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr A Spenner
Director

Date: 30 May 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Blok 'N' Mesh Europe Limited ("the Company") is a company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA. 
The Company's principal activity is that of the sale and hire of re-usable fencing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company continues to adopt the going concern basis in preparing its financial statements.

 
2.3

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a straight-line method or a reducing balance basis.

Depreciation is provided on the following annual bases:

Leasehold improvements
-
over the period of the lease
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Furniture and equipment
-
25% reducing balance
Hire plant
-
9% straight line

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 profit or loss.

 
2.5

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 balance sheet 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 profit or loss.

 
2.6

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.

 
2.7

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. 

Page 4

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

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

Page 5

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

All other foreign exchange gains and losses are presented in the statement of income and retained
earnings within 'administrative expenses'.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.

 
2.11

Operating leases: the Company as lessee

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

 
2.12

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 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 profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

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 balance sheet date.


  
2.14

Hire plant

The Company invests extensively in hire plant for hire contracts. This investment substantially enhances the fleet of hire plant leading to an extended economic life-span. In view of this, the Company employs a policy of capitalisation in respect of hire plant expenditure with a corresponding provision for depreciation to recognise the reduction in value of the hire plant over its estimated useful life.

  
2.15

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

  
2.16

Related party transactions

The Company discloses transactions with related parties. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transactions in the financial statements.

Page 7

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgments in applying the entity’s accounting policies
No significant judgments have had to be made by management in preparing these financial statements.
b) Critical accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 5 for the carrying amount of the property, plant and equipment, and note 2.4 for the useful economic lives for each class of assets.


4.


Employees

The average monthly number of employees, including directors, during the year was 38 (2023 - 34).

Page 8

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Furniture and equipment
Hire plant

£
£
£
£
£



Cost or valuation


At 1 September 2023
33,097
130,331
276,750
3,437
972,788


Additions
12,874
15,163
174,614
-
324,939


Disposals
-
-
(10,990)
-
(234,724)



At 31 August 2024

45,971
145,494
440,374
3,437
1,063,003



Depreciation


At 1 September 2023
9,058
63,772
61,646
1,994
62,636


Charge for the year on owned assets
6,391
14,920
31,296
375
131,906


Charge for the year on financed assets
-
-
35,268
-
-


Disposals
-
-
(7,821)
-
(61,494)



At 31 August 2024

15,449
78,692
120,389
2,369
133,048



Net book value



At 31 August 2024
30,522
66,802
319,985
1,068
929,955



At 31 August 2023
24,039
66,559
215,104
1,443
910,152
Page 9

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 September 2023
1,416,403


Additions
527,590


Disposals
(245,714)



At 31 August 2024

1,698,279



Depreciation


At 1 September 2023
199,106


Charge for the year on owned assets
184,888


Charge for the year on financed assets
35,268


Disposals
(69,315)



At 31 August 2024

349,947



Net book value



At 31 August 2024
1,348,332



At 31 August 2023
1,217,297

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


2024
2023
£
£



Motor vehicles
105,836
141,073

Page 10

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,536,388
2,084,355

Amounts owed by connected entities
734,126
627,827

Other debtors
19,094
29,339

Prepayments and accrued income
138,189
422,812

3,427,797
3,164,333



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts due to invoice financing company
1,860,078
1,472,837

Trade creditors
547,540
222,889

Corporation tax
4,142
-

Other taxation and social security
585,452
244,371

Obligations under finance lease and hire purchase contracts
49,101
53,182

Other creditors
211,940
120,977

Accruals and deferred income
467,767
1,981,940

3,726,020
4,096,196


The amount due to the invoice financing company is secured against the total trade debtor balance.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
21,702
62,782


Page 11

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
49,101
53,219

Between 1-5 years
21,702
62,745

70,803
115,964

Net obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.


10.


Deferred taxation




2024
2023


£

£






At beginning of year
40,354
9,507


Charged to profit or loss
205,179
30,847



At end of year
245,533
40,354

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
245,533
274,743

Tax losses carried forward
-
(234,389)

245,533
40,354


11.


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 charge represents contributions payable by the Company to the fund and amounted to £1,291 (2023 - £1,459). Contributions totalling £1,716 (2023 - £247) were payable to the fund at the balance sheet date.

Page 12

 
BLOK 'N' MESH EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


Related party transactions

The Company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the group.


13.


Controlling party

The ultimate parent company is Cat Trading Group Limited. The Company is included in the consolidated accounts prepared by Cat Trading Group Limited, and copies of those accounts can be obtained from the registered office detailed on the Company information page.


14.


Auditor's information

The auditor's report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 30 May 2025 by Andrew Barnes (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 13