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REGISTERED NUMBER: 02547652 (England and Wales)


















Roy Geddes Bricks Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 September 2024






Roy Geddes Bricks Limited (Registered number: 02547652)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


Roy Geddes Bricks Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: J R Horsburgh
R J Corr
Mrs T Bowman





REGISTERED OFFICE: Ropewalk House
2 Cottage Terrace
Nottingham
NG1 5DX





REGISTERED NUMBER: 02547652 (England and Wales)





AUDITORS: Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB

Roy Geddes Bricks Limited (Registered number: 02547652)

Strategic Report
for the Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

REVIEW OF BUSINESS AND PRINCIPAL ACTIVITIES
The principal activities of the company continued to be that of the buying and selling of facing bricks, rainscreen cladding, natural stone, cast stone and bespoke precast products to large contractors, smaller sub-contractors and individuals.

With over 30 years' experience in the industry, the company has retained its existing highly skilled and motivated workforce. The directors pride themselves with putting together a team of staff who are experts in the field with assisting architects, developers and contracts source the best building products and construction materials for their projects.

Despite the sector experiencing another difficult year with some adverse economic conditions and increased costs, careful management of these factors have led to the company being able to maintain its expected gross profit margin and net profit margin before tax.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's risk management processes include an assessment of the likelihood and potential impact of a range of events to determine the overall level of risk and the actions required to mitigate their impact. The following risks have been identified as ones that could have a material impact on the future financial performance of the company and cause results to differ from those expected:

- Customer based risk - the company supplies to the UK building sector, which has and is being affected by adverse economic conditions. The directors seek to reduce the risk of a reduced customer base by gaining new customers via extensive networking, marketing, and having an active presence on social media, as well as strengthening its existing relationships with customers.

- Supplier based risk - the sector faces the risk of material supply shortages. The directors continue to maintain the company's buying power within the market and it experiences excellent relationships with its key suppliers to ensure continued supply of materials on a timely basis.

- Working capital requirements - the directors continue to monitor short to medium term cash requirements to ensure sufficient funding is in place to facilitate business growth.

- Debt recovery risk - the sector is experiencing a period of adverse economic conditions and finds itself in a position where several businesses are struggling to maintain trading leaving debts unpaid. The directors closely monitor debts on a daily basis and ensure customers remain within their credit terms and limits. Debts, where possible, are insured and for those that are uninsured payments in advance of delivery are obtained.

FINANCIAL KEY PERFORMANCE INDICATORS
The company considers the following to be its 'Key Performance Indicators' which are closely monitored by directors and management throughout the year.

- Turnover for the year was £19.5m (2023 - £22.6m), a decrease of £3.1m (13.7%).

- Gross profit for the year was £1.96m (2023 - £2.44m), a decrease of £0.48m (19.7%).

- Gross profit margin for the year was 10.0% (2023 - 10.8%).

- Profit before tax for the year was £0.80m (2023 - £1.18m), a decrease of £0.38m (32.0%).

- Net profit margin before tax for the year was 4.1% (2023 - 5.2%).

- Total equity at 30 September 2024 was £1.75m (2023 - £1.64m), an increase of £0.11m (6.7%).


Roy Geddes Bricks Limited (Registered number: 02547652)

Strategic Report
for the Year Ended 30 September 2024

FUTURE DEVELOPMENTS AND OUTLOOK
With the sector facing ever changing adverse economic conditions, the directors will continue to closely monitor the situation and implement contingency plans as and when required to ensure the continued stability of the company.

The outlook for the company remains positive with a healthy order book, obtaining new customers and new suppliers, maintain and expand its existing workforce, all of which the directors see as providing a strong platform from which to consolidate its position in the market.

ON BEHALF OF THE BOARD:





J R Horsburgh - Director


16 May 2025

Roy Geddes Bricks Limited (Registered number: 02547652)

Report of the Directors
for the Year Ended 30 September 2024

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

DIVIDENDS
The total distribution of dividends for the year ended 30 September 2024 will be £490,000.

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

J R Horsburgh
R J Corr
Mrs T Bowman

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

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Brooks Mayfield Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R J Corr - Director


16 May 2025

Report of the Independent Auditors to the Members of
Roy Geddes Bricks Limited

Opinion
We have audited the financial statements of Roy Geddes Bricks Limited (the 'company') for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Roy Geddes Bricks Limited


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 Report of the Directors.

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

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

In preparing the financial statements, the directors are responsible for assessing the 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.

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

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

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

Discussions before the year end and during audit field work were held with senior management to obtain an understanding of the legal and regulatory framework applicable to the company and how it is complying with that framework. These discussions helped us obtain an understanding of the company's policies and procedures on compliance with laws and regulations. To support our understanding, we also reviewed any documentation regarding any instances of non-compliance with the minutes of meetings held by those charged with governance.

After obtaining such information, we designed our audit work so that appropriate tests could be devised to enable our work to cover the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, as well as evaluating the business rationale of significant transactions outside the normal course of business and the review of accounting estimates for bias.

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

Report of the Independent Auditors to the Members of
Roy Geddes Bricks Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




William Oates BA FCA (Senior Statutory Auditor)
for and on behalf of Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB

16 May 2025

Roy Geddes Bricks Limited (Registered number: 02547652)

Statement of Income and Retained Earnings
for the Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   

TURNOVER 4 19,492,934 22,613,620

Cost of sales 17,534,891 20,171,485
GROSS PROFIT 1,958,043 2,442,135

Administrative expenses 1,291,318 1,397,771
666,725 1,044,364

Other operating income 135,191 134,332
OPERATING PROFIT and
PROFIT BEFORE TAXATION 801,916 1,178,696

Tax on profit 7 205,331 265,523
PROFIT FOR THE FINANCIAL YEAR 596,585 913,173

Retained earnings at beginning of year 1,624,311 1,461,138

Dividends 8 (490,000 ) (750,000 )

RETAINED EARNINGS AT END OF
YEAR

1,730,896

1,624,311

Roy Geddes Bricks Limited (Registered number: 02547652)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 17,702 23,647

CURRENT ASSETS
Stocks 10 454,339 382,833
Debtors 11 4,567,485 4,058,824
Cash at bank and in hand 1,192,194 1,029,691
6,214,018 5,471,348
CREDITORS
Amounts falling due within one year 12 4,476,398 3,844,772
NET CURRENT ASSETS 1,737,620 1,626,576
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,755,322

1,650,223

PROVISIONS FOR LIABILITIES 15 4,426 5,912
NET ASSETS 1,750,896 1,644,311

CAPITAL AND RESERVES
Called up share capital 16 20,000 20,000
Retained earnings 17 1,730,896 1,624,311
SHAREHOLDERS' FUNDS 1,750,896 1,644,311

The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2025 and were signed on its behalf by:





Mrs T Bowman - Director


Roy Geddes Bricks Limited (Registered number: 02547652)

Cash Flow Statement
for the Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 902,917 658,949
Tax paid (264,887 ) (249,098 )
Net cash from operating activities 638,030 409,851

Cash flows from investing activities
Purchase of tangible fixed assets - (2,237 )
Net cash from investing activities - (2,237 )

Cash flows from financing activities
Movement in net intra-group loans 14,473 45,840
Equity dividends paid (490,000 ) (750,000 )
Net cash from financing activities (475,527 ) (704,160 )

Increase/(decrease) in cash and cash equivalents 162,503 (296,546 )
Cash and cash equivalents at
beginning of year

2

1,029,691

1,326,237

Cash and cash equivalents at end of
year

2

1,192,194

1,029,691

Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Cash Flow Statement
for the Year Ended 30 September 2024

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

30.9.24 30.9.23
£    £   
Profit before taxation 801,916 1,178,696
Depreciation charges 5,945 6,362
807,861 1,185,058
Increase in stocks (71,506 ) (3,150 )
(Increase)/decrease in trade and other debtors (523,134 ) 2,000,360
Increase/(decrease) in trade and other creditors 689,696 (2,523,319 )
Cash generated from operations 902,917 658,949

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 1,192,194 1,029,691
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 1,029,691 1,326,237


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 1,029,691 162,503 1,192,194
1,029,691 162,503 1,192,194
Total 1,029,691 162,503 1,192,194

Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Roy Geddes Bricks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting 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 amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical evidence and other factors considered 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 estimates is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors do not consider there to be any estimates and assumptions which may have a significant risk of causing a material adjustment to the carrying amount of assets or liabilities.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the distribution of goods, 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 goods), the amount of revenue can be measured reliably, it is probable that the economical benefits associated with the transaction will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over the life of the lease
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items. Cost is based on purchase cost on a first in, first out basis and includes other costs incurred in the normal course of business in bringing the stocks to their present location and condition. Net realisable value is the price at which stocks can be sold in the normal course of business after deducting costs of realisation.


Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable or payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such and indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised, an impairment loss is recognised in profit and loss unless the asset is carried at revalued amount where the impairment loss is a revaluation decrease.

4. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

Turnover for the current and comparative year is solely attributable to the United Kingdom.

5. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 618,032 633,140
Social security costs 67,844 64,226
Other pension costs 183,725 185,450
869,601 882,816

Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. EMPLOYEES AND DIRECTORS - continued

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

Directors 3 3
Sales 7 7
Administration 5 5
15 15

30.9.24 30.9.23
£    £   
Directors' remuneration 138,233 159,697
Directors' pension contributions to money purchase schemes 86,794 88,782

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

Money purchase schemes 3 3

6. OPERATING PROFIT

The operating profit is stated after charging:

30.9.24 30.9.23
£    £   
Other operating leases 52,511 49,900
Depreciation - owned assets 5,945 6,362
Auditors' remuneration 10,000 10,000

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
UK corporation tax 206,817 264,887

Deferred tax (1,486 ) 636
Tax on profit 205,331 265,523

UK corporation tax has been charged at 25% .

Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. TAXATION - continued

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

30.9.24 30.9.23
£    £   
Profit before tax 801,916 1,178,696
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 25%)

200,479

294,674

Effects of:
Expenses not deductible for tax purposes 4,852 5,190
Depreciation in excess of capital allowances 1,486 1,032
Deferred tax (1,486 ) 636
Change in tax rate - (36,009 )
Total tax charge 205,331 265,523

8. DIVIDENDS
30.9.24 30.9.23
£    £   
Ordinary shares of £1 each
Interim 490,000 750,000

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023 24,780 600 27,789 53,169
Disposals - (600 ) (24,793 ) (25,393 )
At 30 September 2024 24,780 - 2,996 27,776
DEPRECIATION
At 1 October 2023 5,162 184 24,176 29,522
Charge for year 3,098 416 2,431 5,945
Eliminated on disposal - (600 ) (24,793 ) (25,393 )
At 30 September 2024 8,260 - 1,814 10,074
NET BOOK VALUE
At 30 September 2024 16,520 - 1,182 17,702
At 30 September 2023 19,618 416 3,613 23,647

10. STOCKS
30.9.24 30.9.23
£    £   
Finished goods 454,339 382,833

Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 3,713,489 3,164,163
Amounts owed by group undertakings 719,183 733,656
Other debtors 70,315 102,779
Prepayments and accrued income 64,498 58,226
4,567,485 4,058,824

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 3,132,522 2,327,053
Corporation tax 206,817 264,887
Social security and other taxes 22,056 23,248
VAT 122,981 102,126
Invoice financing facility 813,831 980,595
Accruals and deferred income 178,191 146,863
4,476,398 3,844,772

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 64,874 37,900
Between one and five years 215,013 151,600
In more than five years 149,213 170,550
429,100 360,050

Disclosed in the amounts above is a lease in the name of Prestige Brick & Stone Limited, the parent company of Roy Geddes Bricks Limited. As Roy Geddes Bricks Limited makes all payments towards the lease, the disclosure has been made above.

14. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Invoice financing facility 813,831 980,595

The invoice financing facility is provided by HSBC Invoice Finance (UK) Limited and is secured by way of a fixed charge on purchased debts that fail to vest.

15. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 4,426 5,912

Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 5,912
Provided during year (1,486 )
Balance at 30 September 2024 4,426

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
20,000 Ordinary £1 20,000 20,000

17. RESERVES
Retained
earnings
£   

At 1 October 2023 1,624,311
Profit for the year 596,585
Dividends (490,000 )
At 30 September 2024 1,730,896

18. ULTIMATE PARENT COMPANY

Prestige Brick & Stone Ltd is regarded by the directors as being the company's ultimate parent undertaking.

The largest and smallest group of undertakings for which the group financial statements have been prepared is that headed by Prestige Brick & Stone Ltd. The registered office of Prestige Brick & Stone Ltd is 1 Cottage Terrace, The Ropewalk, Nottingham and copies of the group financial statements can be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff.

19. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
30.9.24 30.9.23
£    £   
Amount due from related party 637,912 637,912

Other related parties
30.9.24 30.9.23
£    £   
Sales 84,842 55,614
Purchases 6,880 4,315
Management charges receivable 135,191 129,332
Management charges payable 21,600 42,000
Amount due from related party 81,271 95,744

Roy Geddes Bricks Limited (Registered number: 02547652)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

20. ULTIMATE CONTROLLING PARTY

The company is controlled by Prestige Brick & Stone Ltd, the ultimate parent company, which is under the ultimate control of J R Horsburgh and R J Corr.