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FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BIGHEAD BONDING FASTENERS LIMITED

BIGHEAD BONDING FASTENERS LIMITED (REGISTERED NUMBER: 00722335)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BIGHEAD BONDING FASTENERS LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2024







DIRECTORS: M Stevens
P James
S Zehnder





SECRETARY: M Stevens





REGISTERED OFFICE: Unit 1, Black Moor Business Park
36A Black Moor Road
Ebblake Industrial Estate
Verwood
Dorset
BH31 6BB





REGISTERED NUMBER: 00722335 (England and Wales)





AUDITORS: Schofields
Chartered Accountants and Statutory Auditors
Unit 1, St Stephens Court
15-17 St Stephens Road
Bournemouth
Dorset
BH2 6LA

BIGHEAD BONDING FASTENERS LIMITED (REGISTERED NUMBER: 00722335)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,217,822 1,302,524
1,217,822 1,302,524

CURRENT ASSETS
Stocks 6 370,589 453,919
Debtors 7 2,207,821 474,708
Cash at bank and in hand 356,211 3,979,288
2,934,621 4,907,915
CREDITORS
Amounts falling due within one year 8 359,545 2,472,490
NET CURRENT ASSETS 2,575,076 2,435,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,792,898

3,737,949

PROVISIONS FOR LIABILITIES 302,317 319,464
NET ASSETS 3,490,581 3,418,485

CAPITAL AND RESERVES
Called up share capital 9 1,752 1,752
Retained earnings 3,488,829 3,416,733
SHAREHOLDERS' FUNDS 3,490,581 3,418,485

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





M Stevens - Director


BIGHEAD BONDING FASTENERS LIMITED (REGISTERED NUMBER: 00722335)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

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

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts invoiced for goods, net of VAT and trade discounts.

Patents
Patents have been amortised over a period of 10 years. An annual impairment review of the carrying value was undertaken at the end of the financial period and it has been concluded that the patents should be fully impaired as they no longer have a useful economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold - 10% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

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

Financial instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price).

Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

BIGHEAD BONDING FASTENERS LIMITED (REGISTERED NUMBER: 00722335)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024

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.

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

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Patents
£   
COST
At 1 January 2024
and 31 December 2024 120,400
AMORTISATION
At 1 January 2024
and 31 December 2024 120,400
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 263,461 1,352,148 141,056 107,236 1,863,901
Additions - 21,085 7,141 97,984 126,210
At 31 December 2024 263,461 1,373,233 148,197 205,220 1,990,111
DEPRECIATION
At 1 January 2024 186,721 187,160 104,549 82,947 561,377
Charge for year 31,600 150,771 3,108 25,433 210,912
At 31 December 2024 218,321 337,931 107,657 108,380 772,289
NET BOOK VALUE
At 31 December 2024 45,140 1,035,302 40,540 96,840 1,217,822
At 31 December 2023 76,740 1,164,988 36,507 24,289 1,302,524

6. STOCKS
2024 2023
£    £   
Raw materials, finished goods and work-in-progress 370,589 453,919

BIGHEAD BONDING FASTENERS LIMITED (REGISTERED NUMBER: 00722335)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 362,688 390,748
Amounts owed by group undertakings 1,690,189 -
Other debtors 154,944 83,960
2,207,821 474,708

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 169,950 74,170
Amounts owed to group undertakings - 1,991,057
Taxation and social security 143,232 309,564
Other creditors 46,363 97,699
359,545 2,472,490

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,502 Ordinary £1 1,502 1,502
5,000 Founder £0.05 250 250
1,752 1,752

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr I M Legg FCCA FCA (Senior Statutory Auditor)
for and on behalf of Schofields

11. CONTINGENT LIABILITIES

The company has provided cross-guarantees, for which security has been given, in respect of borrowings by Bighead Fasteners Limited, the parent company. At 31 December 2024 the borrowings of related group undertakings, including accrued interest, amounted to £600,000 (2023 : £5,188,784).

12. OTHER FINANCIAL COMMITMENTS

The total commitments, guarantees and contingencies amount to £913,356 (2023: £885,017).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
P James
Balance outstanding at start of year - 25,540
Amounts repaid - (25,540 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest at 3.75% has been charged on the loan.

BIGHEAD BONDING FASTENERS LIMITED (REGISTERED NUMBER: 00722335)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024

14. ULTIMATE PARENT COMPANY

The Company is a wholly owned subsidiary of Bighead Fasteners Limited whose registered office is Unit 1, Black Moor Business Park, 36a Black Moor Road, Ebblake Industrial Estate, Verwood, Dorset BH31 6BB.

The Ultimate Parent Company is Bossard Finance AG, who own 100% of the issued share capital in Bighead Fasteners Limited.