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REGISTERED NUMBER: 01132092 (England and Wales)
















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 September 2024

for


Power Tool Products Limited



Power Tool Products Limited (Registered number: 01132092)



Contents of the Financial Statements

for the Year Ended 30 September 2024











Page




Company Information  

1




Strategic Report  

2




Report of the Directors  

3




Report of the Independent Auditors  

5




Income Statement  

9




Other Comprehensive Income  

10




Balance Sheet  

11




Statement of Changes in Equity  

12




Cash Flow Statement  

13




Notes to the Cash Flow Statement  

14




Notes to the Financial Statements

16





Power Tool Products Limited



Company Information

for the Year Ended 30 September 2024









DIRECTORS:

M Brech


Mrs C E Lingard


T Lingard





SECRETARY:

Mrs C E Lingard





REGISTERED OFFICE:

Unit 15


Carlton Park Industrial Estate


Saxmundham


Suffolk


IP17 2NL





REGISTERED NUMBER:

01132092 (England and Wales)





SENIOR STATUTORY

AUDITOR:

Paul Waite





AUDITORS:

Aspen Waite Chartered Certified Accountants


Rubis House


15 Friarn Street


Somerset


TA6 3LH



Power Tool Products Limited (Registered number: 01132092)



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

The principal activity of the company, which is unchanged from the previous year, is the wholesale supply of power tools.


PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the company's strategy are subject to a number of risks including domestic and international competitors, prevailing macro-economic conditions and the evolving structure of the market place. Risks are formally reviewed by the board and appropriate procedures put in place to monitor and mitigate them.


RESULTS AND PREFORMING

The results for the year, as set out on page 8, show a profit on ordinary activities before taxation of £456,517: £297,914). The shareholders' funds total £4,975,379 (2023: £4,763,526).


The company has increased its turnover during the year from £19,208,425 to £21,662,786.


BUSINESS ENVIRONMENT

The market remains highly competitive giving rise to aggressive pricing structures.


STRATEGY

The company has established excellent relationships with all major suppliers giving us an extremely strong buying position which means savings can be passed on to our customers.


KEY PERFORMANCE INDICATORS

The progress of the company is monitored by the board by reference to the following key performance indicators:




30/9/24



30/9/23



Sales


21,662,786



19,208,425



Current liquidity ratio


1.83



2.32




ON BEHALF OF THE BOARD:






Mrs C E Lingard - Director



26 June 2025



Power Tool Products Limited (Registered number: 01132092)



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

Interim dividends per share were paid as follows:

150.51


- 1 October 2023

266.86


- 6 April 2024

417.37p



The directors recommend that no final dividend be paid.


The total distribution of dividends for the year ended 30 September 2024 will be £ 287,000 .


DIRECTORS

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


M Brech

Mrs C E Lingard

T Lingard


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.



Power Tool Products Limited (Registered number: 01132092)



Report of the Directors

for the Year Ended 30 September 2024



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,  Aspen Waite Chartered Certified Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:






Mrs C E Lingard - Director



26 June 2025


Report of the Independent Auditors to the Members of

Power Tool Products Limited



Opinion

We have audited the financial statements of Power Tool Products Limited (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, 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.


Report of the Independent Auditors to the Members of

Power Tool Products Limited



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.


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 three, 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.


Report of the Independent Auditors to the Members of

Power Tool Products Limited



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:


We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates. We considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.


We concentrated on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. We used tests agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.


We addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.


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

Power Tool Products 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.





Paul Waite (Senior Statutory Auditor)

for and on behalf of Aspen Waite Chartered Certified Accountants

Rubis House

15 Friarn Street

Somerset

TA6 3LH


26 June 2025



Power Tool Products Limited (Registered number: 01132092)



Income Statement

for the Year Ended 30 September 2024



30/9/24

30/9/23



Notes

£   

£   

£   

£   



TURNOVER

3

21,662,786


19,208,425




Cost of sales

18,561,396


16,729,123



GROSS PROFIT

3,101,390


2,479,302




Distribution costs

1,538,902


1,336,874



Administrative expenses

1,259,744


1,053,208



2,798,646

2,390,082

302,744


89,220




Other operating income

149,308


143,862



OPERATING PROFIT

5

452,052


233,082




Interest receivable and similar

income

4,465


6,832



456,517


239,914



Gain/loss on revaluation of

investment property

-


58,000



PROFIT BEFORE TAXATION

456,517


297,914




Tax on profit

6

(42,336

)

177,828



PROFIT FOR THE FINANCIAL YEAR

498,853


120,086





Power Tool Products Limited (Registered number: 01132092)



Other Comprehensive Income

for the Year Ended 30 September 2024



30/9/24


30/9/23


Notes

£   

£   



PROFIT FOR THE YEAR

498,853


120,086





OTHER COMPREHENSIVE INCOME

-


-



TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

498,853


120,086





Power Tool Products Limited (Registered number: 01132092)



Balance Sheet

30 September 2024



30/9/24

30/9/23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

8

193,670


232,223



Investments

9

1,000


1,000



Investment property

10

2,714,921


2,714,921



2,909,591


2,948,144




CURRENT ASSETS

Stocks

11

1,853,251


1,255,256



Debtors

12

2,625,010


2,517,125



Cash at bank and in hand

512,484


54,216



4,990,745


3,826,597



CREDITORS

Amounts falling due within one year

13

2,728,601


1,652,184



NET CURRENT ASSETS

2,262,144


2,174,413



TOTAL ASSETS LESS CURRENT

LIABILITIES

5,171,735


5,122,557




PROVISIONS FOR LIABILITIES

17

196,356


359,031



NET ASSETS

4,975,379


4,763,526




CAPITAL AND RESERVES

Called up share capital

18

68,763


68,763



Revaluation reserve

19

483,425


483,425



Retained earnings

19

4,423,191


4,211,338



SHAREHOLDERS' FUNDS

4,975,379


4,763,526




The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:






Mrs C E Lingard - Director




Power Tool Products Limited (Registered number: 01132092)



Statement of Changes in Equity

for the Year Ended 30 September 2024



Called up



share


Retained


Revaluation


Total


capital


earnings


reserve


equity

£   

£   

£   

£   


Balance at 1 October 2022

68,763


4,187,621


483,425


4,739,809




Changes in equity

Dividends

-


(96,369

)

-


(96,369

)


Total comprehensive income

-


120,086


-


120,086



Balance at 30 September 2023

68,763


4,211,338


483,425


4,763,526




Changes in equity

Dividends

-


(287,000

)

-


(287,000

)


Total comprehensive income

-


498,853


-


498,853



Balance at 30 September 2024

68,763


4,423,191


483,425


4,975,379





Power Tool Products Limited (Registered number: 01132092)



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

1,538,661


(1,208,048

)


Tax paid

(62,605

)

(18,370

)


Net cash from operating activities

1,476,056


(1,226,418

)



Cash flows from investing activities

Purchase of tangible fixed assets

(35,925

)

(9,751

)


Sale of tangible fixed assets

12,520


5,650



Interest received

4,465


6,832



Net cash from investing activities

(18,940

)

2,731




Cash flows from financing activities

Amount introduced by directors

-


317,202



Amount withdrawn by directors

(315,319

)

-



Equity dividends paid

(287,000

)

(96,369

)


Net cash from financing activities

(602,319

)

220,833




Increase/(decrease) in cash and cash equivalents

854,797


(1,002,854

)


Cash and cash equivalents at

beginning of year

2

(342,313

)

660,541




Cash and cash equivalents at end

of year

2

512,484


(342,313

)




Power Tool Products Limited (Registered number: 01132092)



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

456,517


297,914




Depreciation charges

62,239


64,741




Profit on disposal of fixed assets

(281

)

(2,306

)



Gain on revaluation of fixed assets

-


(58,000

)



Finance income

(4,465

)

(6,832

)


514,010


295,517




(Increase)/decrease in stocks

(597,995

)

90,403




Increase in trade and other debtors

(107,885

)

(312,645

)



Increase/(decrease) in trade and other creditors

1,730,531


(1,281,323

)



Cash generated from operations

1,538,661


(1,208,048

)



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

512,484


54,216




Bank overdrafts

-


(396,529

)


512,484


(342,313

)



Year ended 30 September 2023


30/9/23


1/10/22

£   

£   



Cash and cash equivalents

54,216


660,541




Bank overdrafts

(396,529

)

-



(342,313

)

660,541






Power Tool Products Limited (Registered number: 01132092)



Notes to the Cash Flow Statement

for the Year Ended 30 September 2024



3.

Analysis of changes in net (debt)/funds



At 1/10/23

Cash flow

At 30/9/24

£   

£   

£   



Net cash



Cash at bank and in hand

54,216


458,268


512,484




Bank overdrafts

(396,529

)

396,529


-



(342,313

)

854,797


512,484




Total

(342,313

)

854,797


512,484





Power Tool Products Limited (Registered number: 01132092)



Notes to the Financial Statements

for the Year Ended 30 September 2024



1.

Statutory information



Power Tool Products 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.

Accounting policies



Basis of preparing the financial statements


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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.    



Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Plant and machinery

-

10 years straight line basis


Fixtures and fittings

-

5 to 10 years straight line basis


Motor vehicles

-

4 years straight line basis



Investments in subsidiaries


Investments in subsidiary undertakings are recognised at cost.



Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.



Power Tool Products Limited (Registered number: 01132092)



Notes to the Financial Statements - continued

for the Year Ended 30 September 2024



2.

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.


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.

3.

Turnover



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



An analysis of turnover by geographical market is given below:



30/9/24


30/9/23

£   

£   



United Kingdom

21,662,786


19,208,425



21,662,786


19,208,425





Power Tool Products Limited (Registered number: 01132092)



Notes to the Financial Statements - continued

for the Year Ended 30 September 2024



4.

Employees and directors


30/9/24


30/9/23

£   

£   



Wages and salaries

1,010,629


920,935




Social security costs

110,828


108,932




Other pension costs

10,493


10,926



1,131,950


1,040,793





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


30/9/24


30/9/23



Sales and distribution

15


16




Administration

8


7



23


23





30/9/24


30/9/23

£   

£   



Directors' remuneration

329,052


315,554





Information regarding the highest paid director is as follows:


30/9/24


30/9/23

£   

£   



Emoluments etc

159,969


140,153




5.

Operating profit



The operating profit is stated after charging/(crediting):



30/9/24


30/9/23

£   

£   



Depreciation - owned assets

62,238


64,741




Profit on disposal of fixed assets

(280

)

(2,306

)



Auditors' remuneration

8,500


4,078





Power Tool Products Limited (Registered number: 01132092)



Notes to the Financial Statements - continued

for the Year Ended 30 September 2024



6.

Taxation



Analysis of the tax (credit)/charge


The tax (credit)/charge on the profit for the year was as follows:


30/9/24


30/9/23

£   

£   



Current tax:


UK corporation tax

120,339


64,999





Deferred tax

(162,675

)

112,829




Tax on profit

(42,336

)

177,828




7.

Dividends


30/9/24


30/9/23

£   

£   



Ordinary shares of £1 each


Interim

287,000


96,369




8.

Tangible fixed assets


Fixtures



Plant and


and


Motor



machinery


fittings


vehicles


Totals

£   

£   

£   

£   



Cost


At 1 October 2023

66,888


545,041


135,208


747,137




Additions

-


5,925


30,000


35,925




Disposals

(10,594

)

(94,029

)

(4,000

)

(108,623

)



At 30 September 2024

56,294


456,937


161,208


674,439




Depreciation


At 1 October 2023

23,756


381,479


109,679


514,914




Charge for year

4,787


39,311


18,140


62,238




Eliminated on disposal

(3,178

)

(93,205

)

-


(96,383

)



At 30 September 2024

25,365


327,585


127,819


480,769




Net book value


At 30 September 2024

30,929


129,352


33,389


193,670




At 30 September 2023

43,132


163,562


25,529


232,223





Power Tool Products Limited (Registered number: 01132092)



Notes to the Financial Statements - continued

for the Year Ended 30 September 2024



9.

Fixed asset investments


Shares in


group


undertakings

£   



Cost


At 1 October 2023


and 30 September 2024

1,000




Net book value


At 30 September 2024

1,000




At 30 September 2023

1,000




10.

Investment property


Total

£   



Fair value


At 1 October 2023


and 30 September 2024

2,714,921




Net book value


At 30 September 2024

2,714,921




At 30 September 2023

2,714,921





Fair value at 30 September 2024 is represented by:

£   



Valuation in 2003

160,000




Valuation in 2005

673,500




Valuation in 2010

100,000




Valuation in 2016

111,500




Valuation in 2017

50,000




Valuation in 2018

10,000




Valuation in 2019

25,000




Valuation in 2021

1,147,921




Valuation in 2022

379,000




Valuation in 2023

58,000



2,714,921




11.

Stocks


30/9/24


30/9/23

£   

£   



Finished goods

1,853,251


1,255,256





Power Tool Products Limited (Registered number: 01132092)



Notes to the Financial Statements - continued

for the Year Ended 30 September 2024



12.

Debtors: amounts falling due within one year



30/9/24


30/9/23

£   

£   



Trade debtors

2,596,290


2,485,762




Other debtors

13,879


15,915




Prepayments

14,841


15,448



2,625,010


2,517,125




13.

Creditors: amounts falling due within one year



30/9/24


30/9/23

£   

£   



Bank loans and overdrafts (see note 14)

-


396,529




Trade creditors

2,437,631


644,733




Corporation tax

122,744


65,010




Social security and other taxes

14,941


(33,948

)



PAYE

30,976


30,421




Other creditors

19,647


16,783




Directors' current accounts

1,895


317,214




Accruals and deferred income

100,767


215,442



2,728,601


1,652,184




14.

Loans



An analysis of the maturity of loans is given below:



30/9/24


30/9/23

£   

£   



Amounts falling due within one year or on demand:


Bank overdrafts

-


396,529




15.

Leasing agreements



Minimum lease payments under non-cancellable operating leases fall due as follows:


30/9/24


30/9/23

£   

£   



Between one and five years

255,679


-




In more than five years

-


442,245



255,679


442,245





Power Tool Products Limited (Registered number: 01132092)



Notes to the Financial Statements - continued

for the Year Ended 30 September 2024



16.

Secured debts



The following secured debts are included within creditors:



30/9/24


30/9/23

£   

£   



Bank overdraft

-


396,529




17.

Provisions for liabilities


30/9/24


30/9/23

£   

£   



Deferred tax


Accelerated capital allowances

196,356


359,031





Deferred



tax


£   



Balance at 1 October 2023

359,031




Provided during year

(162,675

)



Balance at 30 September 2024

196,356




18.

Called up share capital



Allotted, issued and fully paid:


Number:

Class:

Nominal

30/9/24


30/9/23


value:

£   

£   



68,763

Ordinary

£1

68,763


68,763




19.

Reserves


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 October 2023

4,211,338


483,425


4,694,763




Profit for the year

498,853


498,853




Dividends

(287,000

)

(287,000

)



At 30 September 2024

4,423,191


483,425


4,906,616