Company registration number 01060397 (England and Wales)
CHRISTMAS STOCKHOLDERS LIMITED
Annual report and financial statements
For the year ended 30 September 2024
CHRISTMAS STOCKHOLDERS LIMITED
Company information
Directors
Mr D Christmas
Mr I C Christmas
Secretary
Mr I C Christmas
Company number
01060397
Registered office
Ainsdale Drive
Harlescott
Shrewsbury
Shropshire
SY1 3TL
Auditor
WR Partners
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Business address
Ainsdale Drive
Harlescott
Shrewsbury
Shropshire
SY1 3TL
CHRISTMAS STOCKHOLDERS LIMITED
Contents
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 20
CHRISTMAS STOCKHOLDERS LIMITED
Strategic report
For the year ended 30 September 2024
- 1 -

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

Review of the business

The company continues to operate profitably in a competitive market and its healthy balance sheet means it is in a good position to take advantage of any opportunities which may arise in the future.

Principal risks and uncertainties

The principal risks and uncertainties are predominantly external market factors which affect the global market price of steel and the current ongoing global recession.

 

The board is satisfied that it acted swiftly in amending working practices and policies to minimise the financial effect on the company as much as possible.

 

During the current period, material shortages and their significant inflationary rates have caused the company challenges at times, however the board are satisfied that these were well managed and overcome.

 

The company is in a good financial position to ensure it can maintain sufficient stock levels to meet demand.

 

Key performance indicators

The company is financially secure with there being no long term liabilities.

 

Key performance indicators            2024        2023    Change (%)

                            

Turnover (£)                 8,609,154      10,957,420     -21.43

Gross profit (£)                  1,489,121     1,982,050     -24.87

Profit before tax (£)             94,260      471,394     -80.00

Return on Capital Employed (%)         1.24     5.89      n/a

 

 

The directors are satisfied with the performance of the company during the year against these key performance indicators.

 

 

On behalf of the board

Mr D Christmas
Director
27 June 2025
CHRISTMAS STOCKHOLDERS LIMITED
Directors' report
For the year ended 30 September 2024
- 2 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Principal activities

The principal activity of the company continued to be that of steel stockholders.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £437,100. 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:

Mr D Christmas
Mr I C Christmas
Auditor

The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 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
Mr D Christmas
Director
27 June 2025
CHRISTMAS STOCKHOLDERS LIMITED
Directors' responsibilities statement
For the year ended 30 September 2024
- 3 -

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.

CHRISTMAS STOCKHOLDERS LIMITED
Independent auditor's report
TO THE MEMBERS OF CHRISTMAS STOCKHOLDERS LIMITED
- 4 -
Opinion

We have audited the financial statements of Christmas Stockholders Limited (the 'company') for the year ended 30 September 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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:

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:

CHRISTMAS STOCKHOLDERS LIMITED
Independent auditor's report (continued)
TO THE MEMBERS OF CHRISTMAS STOCKHOLDERS LIMITED
- 5 -
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 in relation to which 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.

 

Detecting Irregularities

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities, and skills to identify or recognize non-compliance with applicable laws and regulations; and

- we identified the laws and regulations applicable to the company through discussion with directors and other senior management, and from our commercial knowledge of the steel sector.

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection and employment; and

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

CHRISTMAS STOCKHOLDERS LIMITED
Independent auditor's report (continued)
TO THE MEMBERS OF CHRISTMAS STOCKHOLDERS LIMITED
- 6 -

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

 

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

 

- performed analytical procedures to identify any unusual or unexpected relationships.

- tested journal entries to identify unusual transactions.

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation.

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

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.

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.

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 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.

Helen Pierce (Senior Statutory Auditor)
For and on behalf of WR Partners
27 June 2025
Chartered Accountants
Statutory Auditor
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
CHRISTMAS STOCKHOLDERS LIMITED
Statement of comprehensive income
For the year ended 30 September 2024
- 7 -
2024
2023
Notes
£
£
Turnover
2
8,609,154
10,957,420
Cost of sales
(7,120,033)
(8,975,370)
Gross profit
1,489,121
1,982,050
Distribution costs
(349,202)
(320,847)
Administrative expenses
(1,079,371)
(1,205,196)
Operating profit
4
60,548
456,007
Interest receivable and similar income
6
33,749
30,193
Interest payable and similar expenses
7
(37)
(14,806)
Profit before taxation
94,260
471,394
Tax on profit
8
(24,436)
(105,836)
Profit for the financial year
69,824
365,558

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

CHRISTMAS STOCKHOLDERS LIMITED
Balance sheet
As at 30 September 2024
30 September 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
917,593
386,478
Current assets
Stocks
13
3,908,310
4,803,444
Debtors
14
1,679,406
2,206,916
Cash at bank and in hand
1,845,202
2,248,446
7,432,918
9,258,806
Creditors: amounts falling due within one year
15
(614,767)
(1,566,700)
Net current assets
6,818,151
7,692,106
Total assets less current liabilities
7,735,744
8,078,584
Provisions for liabilities
Deferred tax liability
16
110,117
85,681
(110,117)
(85,681)
Net assets
7,625,627
7,992,903
Capital and reserves
Called up share capital
18
21,505
21,505
Profit and loss reserves
7,604,122
7,971,398
Total equity
7,625,627
7,992,903

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 27 June 2025 and are signed on its behalf by:
Mr D Christmas
Director
Company registration number 01060397 (England and Wales)
CHRISTMAS STOCKHOLDERS LIMITED
Statement of changes in equity
For the year ended 30 September 2024
- 9 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2022
21,505
8,223,170
8,244,675
Year ended 30 September 2023:
Profit and total comprehensive income
-
365,558
365,558
Dividends
10
-
(617,330)
(617,330)
Balance at 30 September 2023
21,505
7,971,398
7,992,903
Year ended 30 September 2024:
Profit and total comprehensive income
-
69,824
69,824
Dividends
10
-
(437,100)
(437,100)
Balance at 30 September 2024
21,505
7,604,122
7,625,627
CHRISTMAS STOCKHOLDERS LIMITED
Statement of cash flows
For the year ended 30 September 2024
- 10 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
9
638,947
278,253
Interest paid
(37)
(14,806)
Income taxes paid
(8,086)
(689,763)
Net cash inflow/(outflow) from operating activities
630,824
(426,316)
Investing activities
Purchase of tangible fixed assets
(639,923)
(139,417)
Proceeds on disposal of tangible fixed assets
3,100
3,200
Receipts arising from loans made
(312)
(1,796)
Interest received
33,749
30,193
Net cash used in investing activities
(603,386)
(107,820)
Financing activities
Repayment of borrowings
6,418
3,372
Dividends paid
(437,100)
(617,330)
Net cash used in financing activities
(430,682)
(613,958)
Net decrease in cash and cash equivalents
(403,244)
(1,148,094)
Cash and cash equivalents at beginning of year
2,248,446
3,396,540
Cash and cash equivalents at end of year
1,845,202
2,248,446
CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements
For the year ended 30 September 2024
- 11 -
1
Accounting policies
Company information

Christmas Stockholders Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ainsdale Drive, Harlescott, Shrewsbury, Shropshire, SY1 3TL.

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 under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

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

All turnover arose within the United Kingdom and comprises revenue recognised by the company in respect of goods and services supplied net of VAT and trade discounts.

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:

Plant and machinery
15% straight line
Fixtures, fittings & equipment
15% straight line
Motor vehicles
25% reducing balance

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 period 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 12 -
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 and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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 and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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

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, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 13 -
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.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 14 -
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.

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

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

1.13
Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 15 -
2
Turnover and other revenue

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

2024
2023
£
£
Turnover analysed by class of business
Steel sales
8,609,154
10,957,420
2024
2023
£
£
Turnover analysed by geographical market
UK sales
8,609,154
10,957,420
2024
2023
£
£
Other significant revenue
Interest income
33,749
30,193
3
Employees

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

2024
2023
Number
Number
Directors
2
2
Works
15
16
Drivers
5
5
Office
13
13
Total
35
36

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
1,058,039
1,041,667
Social security costs
103,028
99,204
Pension costs
21,010
20,425
1,182,077
1,161,296
CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 16 -
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
6,250
7,500
Depreciation of owned tangible fixed assets
107,079
71,778
Profit on disposal of tangible fixed assets
(1,371)
(2,620)
5
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
117,566
114,693
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
32,414
30,193
Other interest income
1,335
-
0
Total income
33,749
30,193
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
32,414
30,193
7
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
37
14,806
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
91,732
Deferred tax
Other adjustments
24,436
14,104
Total tax charge
24,436
105,836
CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
8
Taxation
(Continued)
- 17 -

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
94,260
471,394
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
23,565
117,849
Tax effect of expenses that are not deductible in determining taxable profit
871
457
Effect of change in corporation tax rate
-
0
(12,470)
Taxation charge for the year
24,436
105,836
9
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
69,823
365,558
Adjustments for:
Taxation charged
24,436
105,836
Finance costs
37
14,806
Investment income
(33,749)
(30,193)
Gain on disposal of tangible fixed assets
(1,371)
(2,620)
Depreciation and impairment of tangible fixed assets
107,079
71,778
Movements in working capital:
Decrease/(increase) in stocks
895,134
(909,288)
Decrease in debtors
529,203
560,265
(Decrease)/increase in creditors
(951,645)
102,111
Cash generated from operations
638,947
278,253
10
Dividends
2024
2023
£
£
Interim paid
437,100
617,330
CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 18 -
11
Analysis of changes in net funds
1 October 2023
Cash flows
30 September 2024
£
£
£
Cash at bank and in hand
2,248,446
(403,244)
1,845,202
Borrowings excluding overdrafts
(15,094)
(6,418)
(21,512)
2,233,352
(409,662)
1,823,690
12
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
937,665
209,900
454,137
1,601,702
Additions
576,098
830
62,995
639,923
Disposals
-
0
-
0
(12,954)
(12,954)
At 30 September 2024
1,513,763
210,730
504,178
2,228,671
Depreciation and impairment
At 1 October 2023
690,877
192,652
331,695
1,215,224
Depreciation charged in the year
65,376
3,136
38,567
107,079
Eliminated in respect of disposals
-
0
-
0
(11,225)
(11,225)
At 30 September 2024
756,253
195,788
359,037
1,311,078
Carrying amount
At 30 September 2024
757,510
14,942
145,141
917,593
At 30 September 2023
246,788
17,248
122,442
386,478
13
Stocks
2024
2023
£
£
Stocks
3,908,310
4,803,444
CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 19 -
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,617,551
1,756,932
Corporation tax recoverable
1,380
-
0
Intercompany loan
424
211
Other debtors
2,108
68,493
Prepayments and accrued income
57,943
381,280
1,679,406
2,206,916
15
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Directors' loan
21,512
15,094
Trade creditors
304,305
1,468,748
Corporation tax
-
0
6,706
Other taxation and social security
257,121
24,101
Other creditors
11,213
9,744
Accruals and deferred income
20,616
42,307
614,767
1,566,700
16
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
110,117
85,681
2024
Movements in the year:
£
Liability at 1 October 2023
85,681
Charge to profit or loss
24,436
Liability at 30 September 2024
110,117

The deferred tax liability set out above is unlikely to reverse within 12 months

CHRISTMAS STOCKHOLDERS LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 20 -
17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
21,010
20,425

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.

18
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
21,505
21,505
21,505
21,505
19
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

The following loans with directors are included within the financial statements:

 

Amounts owed by the directors to the company - £2,108 (2023: £1,796),

Amounts owed by the company to directors - £21,512 (2023: £15,094)

 

No interest is payable on the balances due to the directors, and all balances are repayable on demand.

 

20
Ultimate controlling party

The ultimate parent undertaking of the company is: Danx Limited.

Registered office is Ainsdale Drive, Shrewsbury, SY1 3TL and was incorporated in the UK on 30 January 2017. The full accounts can be found at the registered office.

 

The ultimate controlling party remains as Mr. D Christmas.

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