IRIS Accounts Production v25.1.4.42 02489536 Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities sale, installation and servicing of toilet appliances. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 10% preference 1.00000 "A" ordinary 1.00000 "B" ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024895362024-03-31024895362025-03-31024895362024-04-012025-03-31024895362023-03-31024895362023-04-012024-03-31024895362024-03-3102489536ns15:EnglandWales2024-04-012025-03-3102489536ns14:PoundSterling2024-04-012025-03-3102489536ns10:Director12024-04-012025-03-3102489536ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3102489536ns10:MediumEntities2024-04-012025-03-3102489536ns10:Audited2024-04-012025-03-3102489536ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-012025-03-3102489536ns10:Medium-sizedCompaniesRegimeForAccounts2024-04-012025-03-3102489536ns10:FullAccounts2024-04-012025-03-310248953612024-04-012025-03-3102489536ns10:PreferenceShareClass32024-04-012025-03-3102489536ns10:OrdinaryShareClass12024-04-012025-03-3102489536ns10:OrdinaryShareClass22024-04-012025-03-3102489536ns10:Director22024-04-012025-03-3102489536ns10:Director32024-04-012025-03-3102489536ns10:Director42024-04-012025-03-3102489536ns10:Director52024-04-012025-03-3102489536ns10:Director62024-04-012025-03-3102489536ns10:Director72024-04-012025-03-3102489536ns10:RegisteredOffice2024-04-012025-03-3102489536ns5:CurrentFinancialInstruments2025-03-3102489536ns5:CurrentFinancialInstruments2024-03-3102489536ns5:ShareCapital2025-03-3102489536ns5:ShareCapital2024-03-3102489536ns5:RetainedEarningsAccumulatedLosses2025-03-3102489536ns5:RetainedEarningsAccumulatedLosses2024-03-3102489536ns5:ShareCapital2023-03-3102489536ns5:RetainedEarningsAccumulatedLosses2023-03-3102489536ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3102489536ns5:RetainedEarningsAccumulatedLosses2024-04-012025-03-310248953642024-04-012025-03-310248953642023-04-012024-03-3102489536ns15:UnitedKingdom2024-04-012025-03-3102489536ns15:UnitedKingdom2023-04-012024-03-3102489536ns15:Europe2024-04-012025-03-3102489536ns15:Europe2023-04-012024-03-3102489536ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2024-04-012025-03-3102489536ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2023-04-012024-03-3102489536ns10:HighestPaidDirector2024-04-012025-03-3102489536ns10:HighestPaidDirector2023-04-012024-03-3102489536ns5:OwnedAssets2024-04-012025-03-3102489536ns5:OwnedAssets2023-04-012024-03-3102489536ns5:ComputerSoftware2024-04-012025-03-3102489536ns5:ComputerSoftware2023-04-012024-03-3102489536112024-04-012025-03-3102489536112023-04-012024-03-3102489536122024-04-012025-03-3102489536122023-04-012024-03-3102489536132024-04-012025-03-3102489536132023-04-012024-03-310248953632024-04-012025-03-310248953632023-04-012024-03-3102489536ns10:OrdinaryShareClass22023-04-012024-03-3102489536ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-03-3102489536ns5:ComputerSoftware2024-03-3102489536ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-04-012025-03-3102489536ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2025-03-3102489536ns5:ComputerSoftware2025-03-3102489536ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-03-3102489536ns5:ComputerSoftware2024-03-3102489536ns5:LandBuildings2024-03-3102489536ns5:PlantMachinery2024-03-3102489536ns5:FurnitureFittings2024-03-3102489536ns5:MotorVehicles2024-03-3102489536ns5:LandBuildings2024-04-012025-03-3102489536ns5:PlantMachinery2024-04-012025-03-3102489536ns5:FurnitureFittings2024-04-012025-03-3102489536ns5:MotorVehicles2024-04-012025-03-3102489536ns5:LandBuildings2025-03-3102489536ns5:PlantMachinery2025-03-3102489536ns5:FurnitureFittings2025-03-3102489536ns5:MotorVehicles2025-03-3102489536ns5:LandBuildings2024-03-3102489536ns5:PlantMachinery2024-03-3102489536ns5:FurnitureFittings2024-03-3102489536ns5:MotorVehicles2024-03-3102489536ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3102489536ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3102489536ns5:CurrentFinancialInstruments2024-04-012025-03-3102489536ns10:PreferenceShareClass32025-03-3102489536ns5:WithinOneYear2025-03-3102489536ns5:WithinOneYear2024-03-3102489536ns5:BetweenOneFiveYears2025-03-3102489536ns5:BetweenOneFiveYears2024-03-3102489536ns5:AllPeriods2025-03-3102489536ns5:AllPeriods2024-03-3102489536ns5:DeferredTaxation2024-03-3102489536ns5:OtherProvisionsContingentLiabilities2024-03-3102489536ns5:DeferredTaxation2024-04-012025-03-3102489536ns5:OtherProvisionsContingentLiabilities2024-04-012025-03-3102489536ns5:DeferredTaxation2025-03-3102489536ns5:OtherProvisionsContingentLiabilities2025-03-3102489536ns10:OrdinaryShareClass12025-03-3102489536ns10:OrdinaryShareClass22025-03-3102489536ns5:RetainedEarningsAccumulatedLosses2024-03-31
REGISTERED NUMBER: 02489536 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CLOSOMAT LIMITED

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of 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 15


CLOSOMAT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: Ms A Entwistle
Mr I Tomlinson
Mr K B Alderson
Mrs L E Willan
Mrs T A Worrall
Mr R J Willan
Miss J G E Willan





REGISTERED OFFICE: Building 1
Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD





REGISTERED NUMBER: 02489536 (England and Wales)





AUDITORS: Harold Sharp Limited
Statutory Auditors and Chartered Accountants
5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025


The directors present their strategic report on the company for the year ended 31 March 2025.

REVIEW OF THE BUSINESS
This report aims to present a balanced view of the development and the performance of the company.

PRINCIPAL ACTIVITIES
The principal activities of the company are the distribution and servicing of Closomat wash/dry toilets and associated equipment. The company is committed to the provision of innovative healthcare products together with outstanding customer service and support with the objective of creating a better quality of life.

RESULTS AND DIVIDENDS
Closomat Limited continued to trade successfully through a period of market volatility and cost base challenges.

Turnover exceeded budget with operating profit slightly behind expectation for the year.

Ordinary dividends were paid during the year of £1,765,239 (2024: £432,338).

FUTURE DEVELOPMENTS AND INVESTMENT
The company will continue to invest in the continuous improvement of its existing products and in the development of new innovative products to facilitate sales growth, long term sustainability and efficiency gains across a range of market sectors. This ongoing investment will ensure the company provides ever increasing levels of product quality, performance, customer service and satisfaction.

Cyber security continues to be a focus for investment and is integrated into the organisation wide governance frameworks, including strategy, risk management processes and compliance and audit procedures.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
Effective working capital management is a priority to ensure the associated risks are controlled and balanced against the challenging market environment in which we operate.

The main financial risks facing the company are those relating to liquidity, foreign currency exchange and credit exposure. The director's policy agreed for managing these financial risks remain unchanged and are summarised below:

Liquidity risk
The company finances its operations through retained profits and has sufficient available funds for its current operations and future planned expansion.

Currency risk
The company is exposed to transaction and translation foreign exchange risk. In relation to translation risk, as far as possible, foreign purchases are offset by foreign receipts.

Credit risk
The company mitigates credit risk by continually assessing new and existing customers and using credit reference agencies.

NON - FINANCIAL RISKS AND UNCERTAINTIES
The management of the business and the execution of the company's strategy are subject to several risks. The key business risks and uncertainties affecting the company are considered to relate to a certain level of dependence on our National Social Care funding for disabled facility grants and in addition, the company's ability to maintain adequate continuity of supply chain within the context of global uncertainties on raw material availability and demand.


CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

NON-FINANCIAL PERFORMANCE INDICATORS
The company's key non-financial indicators are those related to employee health, safety and well-being, training, development, quality, community, and customer satisfaction. The company and our employees continue to support a wide variety of community projects.

SUPPLIERS
The company commits to regular engagement and collaboration with our supply chain and are committed to paying in line with supplier payment terms.

OUR COMMITMENT TO THE ENVIRONMENT
Corporate objectives continue to focus on doing the right thing for our community and the environment in everything we do, we have significantly reduced paper and plastic usage throughout both manufacturing and office activities and continue to find ways of 'recycling and reusing'.

ON BEHALF OF THE BOARD:





Mrs T A Worrall - Director


20 June 2025

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025


The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS
Details of dividends are set out in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Ms A Entwistle
Mr I Tomlinson
Mr K B Alderson
Mrs L E Willan
Mrs T A Worrall
Mr R J Willan
Miss J G E Willan

DIRECTORS' INDEMNITIES
The company has made qualifying third party provisions for the benefit of its directors which remain in force at the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen to set out information in respect of financial risk management and future developments in its strategic report.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025


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.

ON BEHALF OF THE BOARD:





Mrs T A Worrall - Director


20 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CLOSOMAT LIMITED


Opinion
We have audited the financial statements of Closomat Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of 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 31 March 2025 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
CLOSOMAT 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CLOSOMAT 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:

As part of our planning process:
- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.
- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, health and safety, employment law and direct and indirect tax compliance.
- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:
- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.
- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates.
- Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entities ability to continue in operation.
- Testing key revenue lines, in particular cut-off, for evidence of management bias.
- Obtaining third-party confirmation of material bank balances.
- Documenting and verifying all significant related party balances and transactions.
- Reviewing documentation such as the company board minutes for discussions of irregularities including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors and management.

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
CLOSOMAT 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.




Frederick Norman (Senior Statutory Auditor)
for and on behalf of Harold Sharp Limited
Statutory Auditors and Chartered Accountants
5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

20 June 2025

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £    £   

TURNOVER 3 18,201,304 17,689,549

Cost of sales (11,491,199 ) (11,209,318 )
GROSS PROFIT 6,710,105 6,480,231

Administrative expenses (4,578,226 ) (4,366,892 )
OPERATING PROFIT 5 2,131,879 2,113,339

Interest receivable and similar income 44,524 36,927
2,176,403 2,150,266
Amounts written off investments 6 - (26,908 )
2,176,403 2,123,358

Interest payable and similar expenses 7 (15,000 ) (15,000 )
PROFIT BEFORE TAXATION 2,161,403 2,108,358

Tax on profit 8 (577,776 ) (591,700 )
PROFIT FOR THE FINANCIAL YEAR 1,583,627 1,516,658

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,583,627

1,516,658

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £   
FIXED ASSETS
Intangible assets 10 2,530,072 1,515,839
Tangible assets 11 213,469 580,530
2,743,541 2,096,369

CURRENT ASSETS
Stocks 12 1,216,816 681,927
Debtors 13 2,832,623 2,841,030
Cash at bank and in hand 7,470,199 8,159,495
11,519,638 11,682,452
CREDITORS
Amounts falling due within one year 14 (6,861,143 ) (6,457,916 )
NET CURRENT ASSETS 4,658,495 5,224,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,402,036

7,320,905

PROVISIONS FOR LIABILITIES 18 (769,481 ) (506,738 )
NET ASSETS 6,632,555 6,814,167

CAPITAL AND RESERVES
Called up share capital 19 900 900
Retained earnings 20 6,631,655 6,813,267
SHAREHOLDERS' FUNDS 6,632,555 6,814,167

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2025 and were signed on its behalf by:





Mrs T A Worrall - Director


CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2023 900 5,728,947 5,729,847

Changes in equity
Dividends - (432,338 ) (432,338 )
Total comprehensive income - 1,516,658 1,516,658
Balance at 31 March 2024 900 6,813,267 6,814,167

Changes in equity
Dividends - (1,765,239 ) (1,765,239 )
Total comprehensive income - 1,583,627 1,583,627
Balance at 31 March 2025 900 6,631,655 6,632,555

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,185,579 3,136,308
Interest paid (15,000 ) (15,000 )
Tax paid (456,161 ) (351,898 )
Net cash from operating activities 1,714,418 2,769,410

Cash flows from investing activities
Purchase of intangible fixed assets (1,034,679 ) (872,695 )
Purchase of tangible fixed assets (94,081 ) (52,857 )
Sale of tangible fixed assets 462,931 -
Interest received 27,354 28,830
Dividends received - 8,097
Sale of investments - 815,120
Net cash from investing activities (638,475 ) (73,505 )

Cash flows from financing activities
Equity dividends paid (1,765,239 ) (432,338 )
Net cash from financing activities (1,765,239 ) (432,338 )

(Decrease)/increase in cash and cash equivalents (689,296 ) 2,263,567
Cash and cash equivalents at beginning of
year

2

8,159,495

5,895,928

Cash and cash equivalents at end of year 2 7,470,199 8,159,495

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025


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

2025 2024
£    £   
Profit before taxation 2,161,403 2,108,358
Depreciation charges 141,588 120,500
Profit on disposal of fixed assets (122,931 ) -
Amounts written off investments - 26,908
Finance costs 15,000 15,000
Finance income (44,524 ) (36,927 )
2,150,536 2,233,839
(Increase)/decrease in stocks (534,889 ) 2,107
Decrease in trade and other debtors 70,643 144,191
Increase in trade and other creditors 499,289 756,171
Cash generated from operations 2,185,579 3,136,308

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 31 March 2025
31/3/25 1/4/24
£    £   
Cash and cash equivalents 7,470,199 8,159,495
Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 8,159,495 5,895,928


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24 Cash flow At 31/3/25
£    £    £   
Net cash
Cash at bank and in hand 8,159,495 (689,296 ) 7,470,199
8,159,495 (689,296 ) 7,470,199
Debt
Debts falling due within 1 year (150,000 ) - (150,000 )
(150,000 ) - (150,000 )
Total 8,009,495 (689,296 ) 7,320,199

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Closomat Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02489536 and the registered address is Building 1, Brooklands Place, Brooklands Road, Sale, Cheshire, M33 3SD.

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.

The financial statements represent the results of the individual entity. The presentational currency is £ sterling.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Accrued expenses and deferred income
The company receives income in advance for service contracts and the income is apportioned over the period the company is liable to provide the service.

Warranty provisions
The company is required to estimate the expected cost to repair or replace parts under guarantee. This provision is based on the expected level of repair and replacement costs informed by historical information.

Research and development costs
Research costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset when the company can demonstrate:

a) The technical feasibility of completing the intangible asset so that the asset will be available for use or sale

b) The intention to complete and its ability to use or sell the asset

c) How the asset will generate future economic benefits

d) The availability of resources to complete the asset

e) The ability to measure reliably the expenditure during development

f) The ability to use the intangible asset generated

Where the directors are satisfied as to the technical, commercial and financial viability of the project, the identifiable expenditure is deferred and amortised over the period during which the company is expected to benefit which is 10 years.

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents the amounts receivable by the company for goods supplied and services provided, excluding VAT and trade discounts. Revenue is recognised once the goods have passed to the customer. Deposits received in advance are included within creditors in the balance sheet, and are released to income when the goods have passed to the customer. Service income received in advance are included within creditors in the balance sheet, and are released to income evenly over the life of the contract.

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- 20% on cost
Fixtures, fittings and equipment- 16.67% to 50% on cost
Motor vehicles- 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Land and buildings are long leasehold
There has been continued levels of investment and development to improve the quality of the company's property therefore depreciation is zero in the financial period, as in the opinion of the directors the cost/valuation included in the accounts is a fair representation of their residual value.

The company holds certain long leasehold properties for long term investment which are included in the balance sheet at directors valuations.

At each balance sheet date the Company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

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

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised 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, which include trade debtors, other debtors, amounts owed by related companies 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. Financial assets classified as receivable within one year are not amortised.

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

Basic financial liabilities, including trade creditors, other creditors, amounts owed to group undertakings, and directors loan accounts 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 are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Investments
Investments in listed shares are stated at market value.

Investment income comprises dividends declared during the accounting period and interest receivable on listed and unlisted investments.

Going concern
Based on current trading and future expectations, the directors are confident the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.

The accounts have therefore been prepared on the going concern basis.

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:

2025 2024
£    £   
United Kingdom 16,572,045 15,930,720
Europe 1,629,259 1,758,829
18,201,304 17,689,549

4. EMPLOYEES AND DIRECTORS
2025 2024
£    £   
Wages and salaries 2,983,233 2,804,152
Social security costs 340,362 346,603
Other pension costs 352,021 272,734
3,675,616 3,423,489

The average number of employees during the year was as follows:
2025 2024

Sales 15 15
Service 35 34
Administrative 35 34
85 83

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. EMPLOYEES AND DIRECTORS - continued

2025 2024
£    £   
Directors' remuneration 239,396 297,329
Directors' pension contributions to money purchase schemes 81,649 48,200

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

Money purchase schemes 3 4

Information regarding the highest paid director is as follows:
2025 2024
£    £   
Emoluments etc 70,112 77,977
Pension contributions to money purchase schemes 28,160 8,991

5. OPERATING PROFIT

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

2025 2024
£    £   
Depreciation - owned assets 121,142 107,267
Profit on disposal of fixed assets (122,931 ) -
Computer software amortisation 20,446 13,232
Auditors' remuneration 15,006 14,907
Foreign exchange differences 5,523 (9,546 )
Pension costs 352,021 272,734
Other operating lease rentals 315,693 286,344
Operating lease rentals - land and buildings 56,250 56,250

6. AMOUNTS WRITTEN OFF INVESTMENTS
2025 2024
£    £   
Decrease in value of
investments - 26,908

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
£    £   
Preference share dividends 15,000 15,000

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£    £   
Current tax:
UK corporation tax 270,853 361,665
Corporation tax in respect of
prior year 44,180 59,444
Total current tax 315,033 421,109

Deferred tax 262,743 170,591
Tax on profit 577,776 591,700

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:

2025 2024
£    £   
Profit before tax 2,161,403 2,108,358
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 25%)

540,351

527,090

Effects of:
Expenses not deductible for tax purposes 5,870 12,315
Income not taxable for tax purposes - (2,024 )
Capital allowances in excess of depreciation (21,014 ) -
Depreciation in excess of capital allowances - 21,469
Adjustments to tax charge in respect of previous periods 44,180 59,444
Deferred tax charge 262,743 170,591

Tax on investment movement - 6,727
Development expenditure claim (254,354 ) (203,912 )
Total tax charge 577,776 591,700

9. DIVIDENDS
2025 2024
£    £   
"B" ordinary shares of £1 each
Final paid dividends 1,765,239 432,338

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


10. INTANGIBLE FIXED ASSETS
Development Computer
costs software Totals
£    £    £   
COST
At 1 April 2024 1,472,022 57,049 1,529,071
Additions 1,031,183 3,496 1,034,679
At 31 March 2025 2,503,205 60,545 2,563,750
AMORTISATION
At 1 April 2024 - 13,232 13,232
Amortisation for year - 20,446 20,446
At 31 March 2025 - 33,678 33,678
NET BOOK VALUE
At 31 March 2025 2,503,205 26,867 2,530,072
At 31 March 2024 1,472,022 43,817 1,515,839

11. TANGIBLE FIXED ASSETS
Fixtures,
Freehold Plant and fittings Motor
property machinery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2024 472,488 785,883 378,398 12,741 1,649,510
Additions - 22,662 71,419 - 94,081
Disposals (462,488 ) (320,648 ) (138,579 ) (12,741 ) (934,456 )
At 31 March 2025 10,000 487,897 311,238 - 809,135
DEPRECIATION
At 1 April 2024 122,488 587,009 346,742 12,741 1,068,980
Charge for year - 90,500 30,642 - 121,142
Eliminated on disposal (122,488 ) (320,614 ) (138,613 ) (12,741 ) (594,456 )
At 31 March 2025 - 356,895 238,771 - 595,666
NET BOOK VALUE
At 31 March 2025 10,000 131,002 72,467 - 213,469
At 31 March 2024 350,000 198,874 31,656 - 580,530

12. STOCKS
2025 2024
£    £   
Stock of spares 502,404 443,058
Finished goods 714,412 238,869
1,216,816 681,927

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 2,527,113 2,583,578
Amounts owed by related companies 2,045 1,307
Other debtors - 232
Tax 62,236 -
Prepayments and accrued income 241,229 255,913
2,832,623 2,841,030

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Preference shares (see note 15) 150,000 150,000
Trade creditors 167,823 153,784
Amounts owed to related companies 128,288 112,015
Corporation tax - 96,062
Social security and other taxes 208,938 369,169
Other creditors 221,988 269,410
Accrued expenses and deferred income 5,984,106 5,307,476
6,861,143 6,457,916

The preference shares, which were issued at par, are redeemable upon the holders serving not less than 28 days written notice upon the company.

15. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Preference shares 150,000 150,000

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
150,000 10% preference £1 150,000 150,000

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 302,035 289,315
Between one and five years 204,095 256,799
506,130 546,114

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


17. FINANCIAL INSTRUMENTS

At 31 March 2025, the financial assets and liabilities are measured at amortised cost.

18. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 678,866 416,123
Warranty provision 90,615 90,615
769,481 506,738

Deferred
tax Provisions
£    £   
Balance at 1 April 2024 416,123 90,615
Provided during year 262,743 -
Movement in the year
Balance at 31 March 2025 678,866 90,615

The deferred tax provision comprises £46,348 (2024: £48,117) relating to the excess of capital allowances over depreciation and £632,518 (2024: £368,006) relating to the tax timing difference created due to the capitalisation of development costs.

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
500 "A" ordinary £1 500 500
400 "B" ordinary £1 400 400
900 900

For details of preference share capital see note 15.

20. RESERVES
Retained
earnings
£   

At 1 April 2024 6,813,267
Profit for the year 1,583,627
Dividends (1,765,239 )
At 31 March 2025 6,631,655

21. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. At the balance sheet date unpaid contributions of £32,624 (2024: £29,603l) were included in creditors.

CLOSOMAT LIMITED (REGISTERED NUMBER: 02489536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


22. CAPITAL COMMITMENTS

At 31 March 2025 the company had capital commitments of £106,667 (2024: £nil).

23. RELATED PARTY DISCLOSURES

The company is controlled by Mrs L E Willan.

During the year total dividends of £1,765,239 (2024: £432,338) were paid.

During the year the company transacted with a number of companies under common control. The aggregate of these transactions were as follows:

Purchases £9,792,434 (2024: £8,982,985)

Sales £3,756 (2024: £nil)

Outstanding creditors to those companies were £128,288 (2024: £112,015)

Outstanding debtors due from those companies were £50,675 (2024: £1,307).

24. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L E Willan.