Cameron Holdings Limited 02701974 false 2024-02-01 2025-01-31 2025-01-31 2025-01-31 The principal activity of the company is holding company. The company’s subsidiaries are manufacturers of hot-air and lighter-than-air-gas balloons or fabric engineered products. Digita Accounts Production Advanced 6.30.9574.0 true true true false false false false 02701974 2024-02-01 2025-01-31 02701974 2025-01-31 02701974 bus:Director1 bus:Consolidated 1 2025-01-31 02701974 bus:OrdinaryShareClass1 bus:CumulativeShares 2025-01-31 02701974 bus:Consolidated 2025-01-31 02701974 core:AcceleratedTaxDepreciationDeferredTax bus:Consolidated 2025-01-31 02701974 core:CurrentFinancialInstruments 2025-01-31 02701974 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 02701974 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-01-31 02701974 core:FurnitureFittings bus:Consolidated 2025-01-31 02701974 core:LandBuildings core:LongLeaseholdAssets bus:Consolidated 2025-01-31 02701974 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-31 02701974 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2025-01-31 02701974 core:MotorVehicles bus:Consolidated 2025-01-31 02701974 core:PlantMachinery bus:Consolidated 2025-01-31 02701974 core:DeferredTaxation bus:Consolidated 2025-01-31 02701974 bus:FRS102 bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:Audited bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:FullAccounts bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:RegisteredOffice bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:CompanySecretaryDirector1 2024-02-01 2025-01-31 02701974 bus:CompanySecretaryDirector1 bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:Director1 2024-02-01 2025-01-31 02701974 bus:Director1 bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:Director1 bus:Consolidated 1 2024-02-01 2025-01-31 02701974 bus:Director3 bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:Director4 bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-02-01 2025-01-31 02701974 bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:PrivateLimitedCompanyLtd bus:Consolidated 2024-02-01 2025-01-31 02701974 bus:ConsolidatedGroupCompanyAccounts 2024-02-01 2025-01-31 02701974 core:FurnitureFittings bus:Consolidated 2024-02-01 2025-01-31 02701974 core:FurnitureFittingsToolsEquipment bus:Consolidated 2024-02-01 2025-01-31 02701974 core:LandBuildings bus:Consolidated 2024-02-01 2025-01-31 02701974 core:LandBuildings core:LongLeaseholdAssets bus:Consolidated 2024-02-01 2025-01-31 02701974 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-02-01 2025-01-31 02701974 core:MotorVehicles bus:Consolidated 2024-02-01 2025-01-31 02701974 core:PlantMachinery bus:Consolidated 2024-02-01 2025-01-31 02701974 core:DeferredTaxation bus:Consolidated 2024-02-01 2025-01-31 02701974 core:Subsidiary1 2024-02-01 2025-01-31 02701974 core:Subsidiary1 1 2024-02-01 2025-01-31 02701974 core:Subsidiary1 countries:England 2024-02-01 2025-01-31 02701974 core:Subsidiary2 2024-02-01 2025-01-31 02701974 core:Subsidiary2 1 2024-02-01 2025-01-31 02701974 core:Subsidiary2 countries:England 2024-02-01 2025-01-31 02701974 core:UKTax bus:Consolidated 2024-02-01 2025-01-31 02701974 countries:EnglandWales bus:Consolidated 2024-02-01 2025-01-31 02701974 2024-01-31 02701974 bus:Director1 bus:Consolidated 1 2024-01-31 02701974 bus:Consolidated 2024-01-31 02701974 core:CostValuation 2024-01-31 02701974 core:FurnitureFittings bus:Consolidated 2024-01-31 02701974 core:LandBuildings core:LongLeaseholdAssets bus:Consolidated 2024-01-31 02701974 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 02701974 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-01-31 02701974 core:MotorVehicles bus:Consolidated 2024-01-31 02701974 core:PlantMachinery bus:Consolidated 2024-01-31 02701974 core:DeferredTaxation bus:Consolidated 2024-01-31 02701974 2024-01-31 02701974 bus:Director1 bus:Consolidated 1 2024-01-31 02701974 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-01-31 02701974 bus:Consolidated 2024-01-31 02701974 core:AcceleratedTaxDepreciationDeferredTax bus:Consolidated 2024-01-31 02701974 core:CurrentFinancialInstruments 2024-01-31 02701974 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 02701974 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-01-31 02701974 core:FurnitureFittings bus:Consolidated 2024-01-31 02701974 core:LandBuildings core:LongLeaseholdAssets bus:Consolidated 2024-01-31 02701974 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 02701974 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-01-31 02701974 core:MotorVehicles bus:Consolidated 2024-01-31 02701974 core:PlantMachinery bus:Consolidated 2024-01-31 02701974 bus:Director1 bus:Consolidated 1 2023-02-01 2024-01-31 02701974 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-01 2024-01-31 02701974 bus:Consolidated 2023-02-01 2024-01-31 02701974 core:Subsidiary1 1 2023-02-01 2024-01-31 02701974 core:Subsidiary2 1 2023-02-01 2024-01-31 02701974 core:UKTax bus:Consolidated 2023-02-01 2024-01-31 02701974 bus:Director1 bus:Consolidated 1 2023-01-31 02701974 bus:Consolidated 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02701974

Cameron Holdings Limited

Annual Report and Consolidated Financial Statements

for the Year Ended 31 January 2025

 

Cameron Holdings Limited

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 8

Consolidated Profit and Loss Account and Statement of Retained Earnings

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Cash Flows

12

Notes to the Financial Statements

13 to 30

 

Cameron Holdings Limited

Company Information

Directors

Mr DA Cameron

Ms HE Cameron

Mrs ML Cameron

Mr DJ Cameron

Company secretary

Ms HE Cameron

Registered office

St Johns Street
Bedminster
Bristol
BS3 4NH

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Auditors

Richardson Swift Audit Limited
11 Laura Place
Bath
BA2 4BL

 

Cameron Holdings Limited

Strategic Report for the Year Ended 31 January 2025

The directors present their strategic report for the year ended 31 January 2025.

Principal activity

The principal activity of Cameron Holdings Limited is of a holding company. The company’s subsidiaries are manufacturers of hot-air and lighter-than-air-gas balloons or fabric engineered products.

Fair review of the business

The financial performance of the group and its financial position at the year-end are shown in the attached profit and loss account and balance sheet.

The group presented expected financial results in this financial period.

The directors believe there are no other financial key performance indicators which are material to an understanding of the group’s performance in the year.

Principal risks and uncertainties

The following is a summary of the main risks and uncertainties that the company and its subsidiaries face:

• Debtors
The group mitigates the risk of non-collection of trade debts in a number of ways, and often collects deposits or payments on account before starting to manufacture for a client.

• Cashflow
The group has no third party debt. The working capital requirement is met via retained profits and cash. The nature of the business is that significant stock levels often arise, but the collection of deposits from customers helps to reduce the working capital requirement.

Future developments

Cameron Holdings Limited and its subsidiaries will continue in their present roles.

Approved and authorised by the Board on 8 July 2025 and signed on its behalf by:
 

.........................................
Ms HE Cameron
Company secretary and director

 

Cameron Holdings Limited

Directors' Report for the Year Ended 31 January 2025

The directors present their report and the for the year ended 31 January 2025.

Directors of the group

The directors who held office during the year were as follows:

Mr DA Cameron

Ms HE Cameron - Company secretary and director

Mrs ML Cameron

Mr DJ Cameron

Financial instruments and risk management

The group uses financial instruments such as cash, debtors and creditors which expose the group to the risks below.

Liquidity and cashflow risk

Risks relating to cashflow, and the group’s policies and procedures for the management of working capital, are explained in the Strategic Report.

Credit risk

Like most businesses the group is exposed to credit risk relating to the collection of trade debts. As explained in the Strategic Report this risk is mitigated by the requirement for deposits or payments on account from customers for larger value orders.

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Approved and authorised by the Board on 8 July 2025 and signed on its behalf by:
 

.........................................
Ms HE Cameron
Company secretary and director

 

Cameron Holdings Limited

Statement of Directors' Responsibilities

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:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Cameron Holdings Limited

Independent Auditor's Report to the Members of Cameron Holdings Limited

Opinion

We have audited the financial statements of Cameron Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025, which comprise the Consolidated Profit and Loss Account and Statement of Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated 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:

give a true and fair view of the state of the group's and the parent company's affairs as at 31 January 2025 and of the group's 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 director's' 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 group and parent 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.

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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

Cameron Holdings Limited

Independent Auditor's Report to the Members of Cameron Holdings Limited

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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and 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:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

the parent company 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 4), 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 group’s and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

 

Cameron Holdings Limited

Independent Auditor's Report to the Members of Cameron Holdings Limited

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which are procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by discussion with Directors and consideration of our experience of this and similar sectors.

We determined that the most significant laws and regulations which have a direct impact on the form and content of the financial statements of the entity are the Companies Act and UK GAAP, specifically FRS102.

We determined that the most significant operational laws and regulations for the entity are health and safety legislation, specifically as applied to the aviation industry, employment law and regulations governing imports and exports.

Based on the results or our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above, with no issues arising.

We gained an understating of the entity’s policy and procedures by discussion with key personnel and substantive audit work.

We assessed the risk of material misstatement in respect of fraud through our planning processes, and no significant risks were identified.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation 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 auditor’s report.

 

Cameron Holdings Limited

Independent Auditor's Report to the Members of Cameron Holdings Limited

Use of our report

This report is made solely to the parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Catherine Edwards BSc FCA (Senior Statutory Auditor)
For and on behalf of Richardson Swift Audit Limited, Statutory Auditor

11 Laura Place
Bath
BA2 4BL

17 July 2025

 

Cameron Holdings Limited

Consolidated Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 January 2025

Note

2025
£

2024
£

Turnover

3

6,002,283

5,727,052

Cost of sales

 

(2,550,899)

(2,489,736)

Gross profit

 

3,451,384

3,237,316

Administrative expenses

 

(3,152,837)

(3,007,567)

Other operating income

4

7,350

8,408

Operating profit

6

305,897

238,157

Other interest receivable and similar income

7

29,580

13,284

Interest payable and similar charges

8

4,986

1,944

 

34,566

15,228

Profit before tax

 

340,463

253,385

Taxation

12

(77,406)

(71,016)

Profit for the financial year

 

263,057

182,369

Profit/(loss) attributable to:

 

Owners of the company

 

263,057

182,369

Retained earnings brought forward

 

3,668,126

3,632,007

Dividends paid

 

(117,000)

(146,250)

Retained earnings carried forward

 

3,814,183

3,668,126

 

Cameron Holdings Limited

(Registration number: 02701974)
Consolidated Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

13

404,306

405,629

Investment property

14

1,194,952

1,194,951

Investments

15

1

1

 

1,599,259

1,600,581

Current assets

 

Stocks

16

3,644,095

3,752,538

Debtors

17

1,373,448

918,734

Cash at bank and in hand

 

1,215,967

2,072,423

 

6,233,510

6,743,695

Creditors: Amounts falling due within one year

19

(3,981,632)

(4,638,698)

Net current assets

 

2,251,878

2,104,997

Total assets less current liabilities

 

3,851,137

3,705,578

Provisions for liabilities

20, 12

(36,856)

(37,354)

Net assets

 

3,814,281

3,668,224

Capital and reserves

 

Called up share capital

22

98

98

Profit and loss account

3,814,183

3,668,126

Equity attributable to owners of the company

 

3,814,281

3,668,224

Shareholders' funds

 

3,814,281

3,668,224

Approved and authorised by the Board on 8 July 2025 and signed on its behalf by:
 

.........................................
Mr DA Cameron
Director

 

Cameron Holdings Limited

(Registration number: 02701974)
Company Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

13

260,612

260,613

Investment property

14

1,194,952

1,194,951

Investments

15

115

115

 

1,455,679

1,455,679

Current assets

 

Stocks

16

3,157,927

-

Debtors

17

408,913

833,965

Cash at bank and in hand

 

1,105,992

1,729,341

 

4,672,832

2,563,306

Creditors: Amounts falling due within one year

19

(2,505,642)

(393,769)

Net current assets

 

2,167,190

2,169,537

Net assets

 

3,622,869

3,625,216

Capital and reserves

 

Called up share capital

22

98

98

Retained earnings

3,622,771

3,625,118

Shareholders' funds

 

3,622,869

3,625,216

The company made a profit after tax for the financial year of £114,653 (2024 - profit of £307,871).

Approved and authorised by the Board on 8 July 2025 and signed on its behalf by:
 

.........................................
Mr DA Cameron
Director

 

Cameron Holdings Limited

Consolidated Statement of Cash Flows for the Year Ended 31 January 2025

Note

2025
£

2024
£

Cash flows from operating activities

Profit for the year

 

263,057

182,369

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

6

42,948

41,426

Loss/(profit) on disposal of tangible assets

5

1,287

(12,366)

Profit from disposals of investments

5

-

(25,000)

Finance income

7

(29,580)

(13,284)

Income tax expense

12

77,406

71,016

 

355,118

244,161

Working capital adjustments

 

Decrease/(increase) in stocks

16

108,443

(569,484)

Increase in trade debtors

17

(454,714)

(510,396)

(Decrease)/increase in trade creditors

19

(678,295)

368,264

Rounding

 

-

(2)

Cash generated from operations

 

(669,448)

(467,457)

Income taxes paid

12

(56,675)

(39,050)

Net cash flow from operating activities

 

(726,123)

(506,507)

Cash flows from investing activities

 

Interest received

29,580

13,284

Acquisitions of tangible assets

(43,213)

(27,544)

Proceeds from sale of tangible assets

 

300

13,080

Proceeds from sale of investment properties

 

-

590

Proceeds from disposal of investments in joint ventures and associates

 

-

25,000

Net cash flows from investing activities

 

(13,333)

24,410

Cash flows from financing activities

 

Proceeds from issue of ordinary shares, net of issue costs

 

-

3

Dividends paid

(117,000)

(146,250)

Net cash flows from financing activities

 

(117,000)

(146,247)

Net decrease in cash and cash equivalents

 

(856,456)

(628,344)

Cash and cash equivalents at 1 February

 

2,072,423

2,700,767

Cash and cash equivalents at 31 January

 

1,215,967

2,072,423

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

These financial statements were authorised for issue by the Board on 8 July 2025.

The address of its registered office is:
St Johns Street
Bedminster
Bristol
BS3 4NH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the parent company and the group. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the needs of the parent company and the group. The directors have considered a period of twelve months from the date of approval of the financial statements and have taken into account their best estimates of the ongoing impact of inflation.

Summary of disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

a) Disclosure in respect of each class of share capital have not been presented.
b) No cash flow statement has been presented for the company.
c) Additional disclosures in respect of financial instruments have not been presented.
d) No disclosure has been given for the aggregate remuneration of key management personnel..

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 January 2025.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

1) For each contract spanning the year-end, to determine whether the contract was sufficiently progressed at year-end that the outcome of the contract could be estimated reliably. If so then, as explained below, an appropriate portion of the forecast contract profit is recognised as at the year-end. This decision is based upon the stage of completeness of each contract at the year-end. Included in debtors is accrued income of £626,343 (2024: £400,600).

2) The directors have made a judgement that as the land and property held for investment were acquired in the previous accounting year, that no specialist independent valuation would be required at the year end. The directors have determined that any movement in value would be minor based upon values of similar local land and property available on the open market. Such investments are therefore held at cost of £1,194,951 (2024: £1,194,951).

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

1) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. The carrying amount is £143,694 (2024 -£145,016).

2) Holiday pay is accrued for all holiday entitlements not taken as at the year end. Where employees have a spouse also working for the company, any unused holiday can be transferred between spouses if legally permitted. In addition to this hourly rates could change prior to any holiday entitlement being taken. In both instances the actual cost of holiday pay could vary to the amount estimated at the year end. The year end liability is £138,655 (2024 -£119,525).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

For contracts spanning the end of a reporting period, and where the outcome of the contract can be estimated reliably, revenue is recognised according to the stage of completion at the end of the reporting period. When the outcome of a contract cannot be estimated reliably, the group recognises revenue only to the extent of the expenses recognised that are recoverable.

Government grants

Money due on government grants are recognised in the profit and loss account in the period to which it relates.

Finance income and costs policy

Interest income is recognised on the receipts basis.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

All translation differences are taken to profit or loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the company balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Depreciation

Depreciation is charged on all tangible fixed assets, other than freehold land, so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long term leasehold land and buildings

5% straight line

Plant and machinery

25% straight line

Fixtures and fittings

12.5% straight line

Motor vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using an average cost policy.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss
Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Financial instruments

Classification
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

 

3

Turnover

The analysis of the group's Turnover for the year from continuing operations is as follows:

2025
£

2024
£

Sale of goods

5,944,620

5,693,049

Rental income from investment property

49,717

17,213

Royalties received

7,946

16,790

6,002,283

5,727,052

4

Other operating income

The analysis of the group's other operating income for the year is as follows:

2025
£

2024
£

Miscellaneous other operating income

7,350

8,408

5

Other gains and losses

The analysis of the group's other gains and losses for the year is as follows:

2025
£

2024
£

(Loss)/gain on disposal of Tangible assets

(1,287)

12,366

Gain from disposals of investments

-

25,000

(1,287)

37,366

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

6

Operating profit

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

42,948

41,426

Loss/(profit) on disposal of property, plant and equipment

1,287

(12,366)

7

Other interest receivable and similar income

2025
£

2024
£

Interest income on bank deposits

18,321

9,565

Other finance income

11,259

3,719

29,580

13,284

8

Interest payable and similar expenses

2025
£

2024
£

Foreign exchange losses

(4,986)

(1,944)

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

9

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2025
£

2024
£

Wages and salaries

2,148,879

2,017,384

Social security costs

209,372

187,682

Pension costs, defined contribution scheme

54,629

50,848

Other employee expense

5,296

5,980

2,418,176

2,261,894

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

2025
No.

2024
No.

Group employees

67

63

67

63

10

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

148,005

139,119

11

Auditors' remuneration

2025
£

2024
£

Audit of the financial statements

10,400

12,150


 

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

12

Taxation

Tax charged/(credited) in the consolidated profit and loss account

2025
£

2024
£

Current taxation

UK corporation tax

86,194

64,965

UK corporation tax adjustment to prior periods

(8,290)

(50)

77,904

64,915

Deferred taxation

Arising from origination and reversal of timing differences

(498)

6,101

Tax expense in the income statement

77,406

71,016

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

2025
£

2024
£

Profit before tax

340,463

253,385

Corporation tax at standard rate

85,116

63,346

Tax increase from effect of capital allowances and depreciation

331

3,561

Decrease from effect of different UK tax rates on some earnings

-

(2,653)

Tax (decrease)/increase from other short-term timing differences

(498)

6,101

Effect of expense not deductible in determining taxable profit (tax loss)

671

659

Tax decrease from effect of adjustment in research and development tax credit

(8,250)

-

Tax increase from other tax effects

36

2

Total tax charge

77,406

71,016

Deferred tax

Group

Deferred tax assets and liabilities

2025

Asset
£

Liability
£

Fixed asset timing difference

-

36,856

-

36,856

2024

Asset
£

Liability
£

Fixed asset timing difference

-

37,354

-

37,354

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

13

Tangible assets

Group

Land and buildings
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

260,612

82,426

1,020,016

70,503

103,180

1,536,737

Additions

-

-

43,213

-

-

43,213

Disposals

-

-

(7,424)

-

-

(7,424)

At 31 January 2025

260,612

82,426

1,055,805

70,503

103,180

1,572,526

Depreciation

At 1 February 2024

-

82,426

897,050

65,516

86,117

1,131,109

Charge for the year

-

-

34,165

3,095

5,688

42,948

Eliminated on disposal

-

-

(5,837)

-

-

(5,837)

At 31 January 2025

-

82,426

925,378

68,611

91,805

1,168,220

Carrying amount

At 31 January 2025

260,612

-

130,427

1,892

11,375

404,306

At 31 January 2024

260,613

-

122,966

4,987

17,063

405,629

Company

Land and buildings
£

Total
£

Cost or valuation

At 1 February 2024

260,612

260,612

At 31 January 2025

260,612

260,612

Depreciation

Carrying amount

At 31 January 2025

260,612

260,612

At 31 January 2024

260,613

260,613

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

14

Investment properties

Group

2025
£

At 1 February

1,194,952

At 31 January

1,194,952

The valuation is deemed comparable by the directors to the nearby land and property available on the open market.

There has been no valuation of investment property by an independent valuer.

Company

2025
£

At 1 February

1,194,952

At 31 January

1,194,952

The valuation is deemed comparable by the directors to the nearby land and property available on the open market.

There has been no valuation of investment property by an independent valuer.

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

15

Investments

Company

2025
£

2024
£

Investments in subsidiaries

114

114

Other investments

1

1

115

115

Subsidiaries

£

Cost or valuation

At 1 February 2024

114

Provision

Carrying amount

At 31 January 2025

114

At 31 January 2024

114

Details of the investments company's subsidiaries are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2025

2024

Cameron Balloons Limited

St Johns Street
Bedminster
Bristol
BS3 4NH

England

Ordinary

100%

100%

Cameron Fabric Engineering Limited

St John Street
Bedminster
Bristol
BS3 4NH

England

Ordinary

100%

100%

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

16

Stocks

 

Group

Company

2025
£

2024
£

2025
£

2024
£

Work in progress

1,348,398

1,357,674

862,230

-

Other inventories

2,295,697

2,394,864

2,295,697

-

3,644,095

3,752,538

3,157,927

-

Company

17

Debtors

   

Group

Company

Current

Note

2025
£

2024
£

2025
£

2024
£

Trade debtors

 

124,430

211,691

-

-

Amounts owed by related parties

24

-

-

-

833,962

Other debtors

 

1,117,110

567,756

405,370

3

Prepayments

 

131,908

139,287

3,543

-

   

1,373,448

918,734

408,913

833,965

18

Cash and cash equivalents

 

Group

Company

2025
£

2024
£

2025
£

2024
£

Cash on hand

991

860

-

1

Cash at bank

214,976

1,111,998

105,992

769,775

Short-term deposits

1,000,000

959,565

1,000,000

959,565

1,215,967

2,072,423

1,105,992

1,729,341

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

19

Creditors

   

Group

Company

Note

2025
£

2024
£

2025
£

2024
£

Due within one year

 

Trade creditors

 

210,697

297,946

-

-

Amounts due to related parties

24

12

1

1,340,311

364,304

Social security and other taxes

 

47,799

47,494

-

-

Other payables

 

3,426,796

3,979,356

1,116,005

19,886

Accruals

 

210,134

248,936

11,582

5,582

Income tax liability

12

86,194

64,965

37,744

3,997

 

3,981,632

4,638,698

2,505,642

393,769

20

Provisions for liabilities

Group

Deferred tax
£

Total
£

At 1 February 2024

37,354

37,354

Increase (decrease) in existing provisions

(498)

(498)

At 31 January 2025

36,856

36,856

The deferred tax provision is wholly due to the advanced corporation tax relief achieved due to the annual investment allowance obtained, ahead of the depreciation of those assets in the financial statements.

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

21

Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £54,629 (2024 - £50,848).

22

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £0.01 each

9,750

97.50

9,750

97.50

         

23

Dividends

   

2025
£

 

2024
£

Interim dividend of £12 (2024 - £15) per each Ordinary share

 

117,000

 

146,250

         

24

Related party transactions

Group

The trading premises of Cameron Balloons Limited (CBL) are leased entirely from Cameron Balloons Directors' Pension Fund (CBDPF).

Mr D A Cameron , M L Cameron and H E Cameron are all directors of Cameron Balloons Limited and trustees of CBDPF.

During the year the company paid the following rental payments:

CBDPF £100,000 (2024: £100,000).

 

Cameron Holdings Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Transactions with directors

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

Mr DA Cameron

Directors Loan Account

(1)

3

(14)

(12)

2024

At 1 February 2023
£

Repayments by director
£

At 31 January 2024
£

Mr DA Cameron

Directors Loan Account

2,999

(3,000)

(1)

As at the year-end £12 was owed to Mr DA Cameron by the company (2024: £1 owed to Mr DA Cameron by the company).

There are no formal terms for the above advances and so they are interest-free and repayable on demand.

Company

During the year a director of a subsidiary company maintained a loan account with the company. As at the period end the company was owed £399,705 (2024: £nil). Interest of £10,243 (2024: £nil) was charged on this loan and included within 'Other interest receivable'.