| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| BIGHEAD BONDING FASTENERS LIMITED |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Improvements to leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| AMORTISATION |
| At 1 January 2024 |
| and 31 December 2024 |
| 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 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Raw materials, finished goods and work-in-progress |
| 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 |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 1,502 | 1,502 |
| 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. |
| for and on behalf of |
| 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 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| 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. |