Company registration number 10289254 (England and Wales)
HUNTER HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
HUNTER HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr I Hunter
Mr F C Thomson
Mr A Longfield
(Appointed 1 April 2024)
Company number
10289254
Registered office
Springfield Mill
Spa Street
Ossett
West Yorkshire
WF5 0HW
Auditor
BHP LLP
New Chartford House
Centurion Way
Cleckheaton
Bradford
West Yorkshire
BD19 3QB
HUNTER HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 31
HUNTER HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -
The directors present the strategic report for the year ended 31 March 2025.
Review of the business
The group continues to manufacture, supply and install shopfitting and general joinery products, with a focus on delivering quality products and customer service from design to installation.
Turnover increased by 3% due to customers regaining confidence in the market and fresh investment in stores after the Covid-19 pandemic.
Gross profit decreased by 3%, which reflects increases in direct costs being absorbed rather than passed on to the customer, to keep competitive in the market.
The group’s Balance Sheet continues to show a strong position, with net assets increasing from £7.8m to £8.4m.
Principal risks and uncertainties
The group operates in a competitive market. The directors are constantly reviewing market conditions and competitor activity in order to maintain continued trade with existing new customers.
To mitigate marketplace risk, the group has recently diversified into new sectors and maintained continuous investment in product innovation—introducing lines such as metalwork shelving—while expanding its footprint in the traditional grocery and variety store market to broaden its customer base and lessen dependence on any particular customers.
Business Update: Navigating Ongoing Economic Challenges
Over the past several years, our business has navigated a series of extraordinary global events. The COVID-19 pandemic introduced significant operational and economic disruptions, requiring swift adaptation and strategic recalibration. As recovery began, the war in Ukraine and the ongoing cost of living crisis presented further headwinds, impacting customer confidence and leading to delays or cancellations in key projects.
Despite these challenges, we are now seeing encouraging signs of recovery. Seasonal demand patterns are beginning to align with pre-pandemic levels, indicating a return to more predictable market behavior and renewed customer engagement. This shift reflects the strength of our business model and the effectiveness of the measures we’ve taken to maintain stability and support long-term growth.
We remain cautiously optimistic and committed to delivering value through continued resilience, operational efficiency, and strategic investment.
The directors are committed to ensuring business continuity, with strong reserves historically retained for such an event.
HUNTER HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Financial instruments
Objectives and policies
The group utilises appropriate financial instruments in order to carry out its business activities in an effective manner.
Price risk, credit risk, liquidity risk and cash flow risk
The business' principle financial instruments comprise bank balances, trade debtors, trade creditors and loans to the group. The main purpose of these instruments is to raise funds for the company's operation and to finance the business' operations.
Due to the nature of the financial instruments used by the company there is no exposure to price risk other than currency risk. The group's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of current and deposit accounts.
Trade debtors are managed in respect of credit and cash flow risk policies concerning the credit offered to customers and the regular monitoring of outstanding amounts for both time and credit limits. The amounts presented in the Balance Sheet are net of allowances for doubtful debtors.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.
Key performance indicators
The group's key financial and other performance indicators during the year were as follows:
2025 2024
Current ratio 3.63 3.28
Acid Test ratio 2.71 2.51
Mr A Longfield
Director
23 July 2025
HUNTER HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
The directors present their annual report and financial statements for the year ended 31 March 2025.
Principal activities
The principal activity of the group is the manufacture, supply and installation of shopfitting, shelving and general joinery products and investment in commercial property.
Results and dividends
The results for the year are set out on page 8.
Ordinary dividends were paid amounting to £534,000. The directors do not recommend payment of a further dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr I Hunter
Mr F C Thomson
Mr A Longfield
(Appointed 1 April 2024)
Auditor
In accordance with the company's articles, a resolution proposing that BHP LLP be reappointed as auditor of the group will be put at a General Meeting.
Strategic report
The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of business review and principle risks.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
On behalf of the board
Mr A Longfield
Director
23 July 2025
HUNTER HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
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 group and company, and of the profit or loss of the group 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;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and 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 company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the company website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
HUNTER HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HUNTER HOLDINGS LIMITED
- 5 -
Opinion
We have audited the financial statements of Hunter Holdings Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its 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.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
HUNTER HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HUNTER HOLDINGS LIMITED
- 6 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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 directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the company through discussions with management, and from our commercial knowledge and experience of the sector;
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environments and health and safety legislation;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
HUNTER HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HUNTER HOLDINGS LIMITED
- 7 -
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions;
• assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
• investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation; and
• enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Lesley Kendrew (Senior Statutory Auditor)
For and on behalf of BHP LLP, Statutory Auditor
Chartered Accountants
New Chartford House
Centurion Way
Cleckheaton
Bradford
West Yorkshire
BD19 3QB
23 July 2025
HUNTER HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
12,830,214
12,473,318
Cost of sales
(9,272,909)
(8,792,751)
Gross profit
3,557,305
3,680,567
Distribution costs
(324,631)
(322,418)
Administrative expenses
(1,784,749)
(2,037,505)
Other operating income
33,343
2,850
Operating profit
4
1,481,268
1,323,494
Interest receivable and similar income
6
84,000
10,862
Interest payable and similar expenses
7
(2,989)
-
Amounts written off investments
-
98,453
Profit before taxation
1,562,279
1,432,809
Tax on profit
8
(391,803)
(317,640)
Profit for the financial year
1,170,476
1,115,169
Profit for the financial year is all attributable to the owners of the parent company.
The profit and loss account has been prepared on the basis that all operations are continuing operations.
HUNTER HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
86,329
101,629
Tangible assets
11
3,013,324
2,991,201
3,099,653
3,092,830
Current assets
Stocks
14
1,915,476
1,637,631
Debtors
15
3,424,712
3,425,365
Cash at bank and in hand
2,167,643
1,891,618
7,507,831
6,954,614
Creditors: amounts falling due within one year
16
(2,065,555)
(2,120,514)
Net current assets
5,442,276
4,834,100
Total assets less current liabilities
8,541,929
7,926,930
Provisions for liabilities
Deferred tax liability
17
154,837
176,314
(154,837)
(176,314)
Net assets
8,387,092
7,750,616
Capital and reserves
Called up share capital
19
3,600
3,600
Share premium account
1,833,900
1,833,900
Revaluation reserve
1,464,303
1,464,303
Profit and loss reserves
5,085,289
4,448,813
Total equity
8,387,092
7,750,616
These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.
The financial statements were approved by the board of directors and authorised for issue on 23 July 2025 and are signed on its behalf by:
23 July 2025
Mr A Longfield
Director
Company registration number 10289254 (England and Wales)
HUNTER HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
12
2,763,761
2,763,761
2,763,761
2,763,761
Current assets
Debtors
15
2,149,018
2,696,909
Cash at bank and in hand
678,357
617,389
2,827,375
3,314,298
Creditors: amounts falling due within one year
16
(1,119)
(12,811)
Net current assets
2,826,256
3,301,487
Net assets
5,590,017
6,065,248
Capital and reserves
Called up share capital
19
3,600
3,600
Share premium account
1,833,900
1,833,900
Profit and loss reserves
3,752,517
4,227,748
Total equity
5,590,017
6,065,248
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £58,769 (2024 - £39,069 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved by the board of directors and authorised for issue on 23 July 2025 and are signed on its behalf by:
23 July 2025
Mr A Longfield
Director
Company registration number 10289254 (England and Wales)
HUNTER HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 April 2023
3,600
1,833,900
1,464,303
3,353,644
6,655,447
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
-
-
1,115,169
1,115,169
Dividends
9
-
-
-
(20,000)
(20,000)
Balance at 31 March 2024
3,600
1,833,900
1,464,303
4,448,813
7,750,616
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
-
-
1,170,476
1,170,476
Dividends
9
-
-
-
(534,000)
(534,000)
Balance at 31 March 2025
3,600
1,833,900
1,464,303
5,085,289
8,387,092
HUNTER HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2023
3,600
1,833,900
4,208,679
6,046,179
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
-
39,069
39,069
Dividends
9
-
-
(20,000)
(20,000)
Balance at 31 March 2024
3,600
1,833,900
4,227,748
6,065,248
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
58,769
58,769
Dividends
9
-
-
(534,000)
(534,000)
Balance at 31 March 2025
3,600
1,833,900
3,752,517
5,590,017
HUNTER HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
952,204
1,652,036
Interest paid
(2,989)
Income taxes paid
(68,248)
(3,324)
Net cash inflow from operating activities
880,967
1,648,712
Investing activities
Purchase of intangible assets
(13,197)
-
Purchase of tangible fixed assets
(143,527)
(239,029)
Proceeds from disposal of tangible fixed assets
14,650
83,933
Proceeds from disposal of subsidiaries, net of cash disposed
-
98,453
Interest received
84,000
10,862
Net cash used in investing activities
(58,074)
(45,781)
Financing activities
Payment of finance leases obligations
(12,868)
-
Dividends paid to equity shareholders
(534,000)
(20,000)
Net cash used in financing activities
(546,868)
(20,000)
Net increase in cash and cash equivalents
276,025
1,582,931
Cash and cash equivalents at beginning of year
1,891,618
308,687
Cash and cash equivalents at end of year
2,167,643
1,891,618
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
1
Accounting policies
Company information
Hunter Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Springfield Mill, Spa Street, Ossett, West Yorkshire, WF5 0HW.
The group consists of Hunter Holdings Limited and all of its subsidiaries.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
1.2
Basis of consolidation
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination.
The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.
The excess of fair value of the identifiable assets acquired over the fair value of the consideration provided is recognised as negative goodwill and is capitalised within fixed assets and released to the profit and loss over the period expected to benefit.
The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Iinvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
The consolidated financial statements incorporate those of Hunter Holdings Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.
All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
The registered office of subsidiaries is Spring Mill, Spa Street, Ossett, West Yorkshire, WF5 0HW.
1.3
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.5
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.6
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.7
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 16 -
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
20% straight line from date of completion
1.8
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
8.33% to 20% straight line
Motor vehicles
25% reducing balance
Freehold property is included in the balance sheet at its fair value.
Although this accounting policy is in accordance with the applicable accounting standard, FRS 102 "The Financial Reporting Standard," it is a departure from the general requirement of the Companies Act 2006 for all tangible fixed assets to be depreciated.
The accounting policy adopted is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
1.9
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.10
Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 17 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.11
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.12
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.13
Financial instruments
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 18 -
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
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 group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 19 -
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
1.14
Equity instruments
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
1.15
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 20 -
1.16
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.17
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.18
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
1.19
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.20
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 21 -
2
Judgements and key sources of estimation uncertainty
In the application of the group’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.
Key sources of estimation uncertainty
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.
Stock provision
It is necessary to consider the recoverability of the cost of stock and associated provisioning required. When calculating the stock provision, management considers the nature of the materials and the period over which they are used.
Depreciation
Tangible fixed assets are depreciated over their useful life. Useful lives are based on management's estimates of the periods within which the assets will generate revenue and which are periodically reviewed for continued appropriateness.
3
Turnover and other revenue
An analysis of the group's turnover is as follows:
2025
2024
£
£
Turnover analysed by class of business
Sales of goods
12,830,214
12,473,318
2025
2024
£
£
Other significant revenue
Interest income
84,000
10,862
Grants received
-
2,850
2025
2024
£
£
Turnover analysed by geographical market
UK & Eire
12,830,214
12,473,318
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses
3,482
18,315
Research and development costs
3,636
3,678
Government grants
-
(2,850)
Fees payable to the group's auditor for the audit of the group's financial statements
28,900
34,390
Depreciation of owned tangible fixed assets
211,270
207,851
Profit on disposal of tangible fixed assets
(2,328)
(2,991)
Amortisation of intangible assets
28,497
32,165
Operating lease charges
7,242
15,057
5
Employees
The average monthly number of persons (including directors) employed by the group and company during the year was:
Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Production
81
74
-
-
Sales
15
8
-
-
Other departments
7
17
-
-
Total
103
99
0
0
Their aggregate remuneration comprised:
Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
3,967,437
3,538,977
Social security costs
422,751
386,624
-
-
Pension costs
178,279
161,859
4,568,467
4,087,460
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 23 -
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
14,855
7,526
Other interest income
69,145
3,336
Total income
84,000
10,862
7
Interest payable and similar expenses
2025
2024
£
£
Interest on finance leases and hire purchase contracts
2,906
-
Other interest
83
-
Total finance costs
2,989
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
413,280
144,687
Deferred tax
Origination and reversal of timing differences
(21,477)
172,953
Total tax charge
391,803
317,640
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2025
2024
£
£
Profit before taxation
1,562,279
1,432,809
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
390,570
358,202
Tax effect of expenses that are not deductible in determining taxable profit
962
2,024
Tax effect of income not taxable in determining taxable profit
(29)
Change in unrecognised deferred tax assets
(17,785)
Other permanent differences
(24,613)
Tax at marginal rate
(353)
(159)
Fixed asset differences
624
Taxation charge
391,803
317,640
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 24 -
9
Dividends
2025
2024
£
£
Final paid
534,000
20,000
10
Intangible fixed assets
Group
Negative goodwill
Software
Total
£
£
£
Cost
At 1 April 2024
(2,482,476)
286,528
(2,195,948)
Additions - internally developed
13,197
13,197
At 31 March 2025
(2,482,476)
299,725
(2,182,751)
Amortisation and impairment
At 1 April 2024
(2,482,476)
184,899
(2,297,577)
Amortisation charged for the year
28,497
28,497
At 31 March 2025
(2,482,476)
213,396
(2,269,080)
Carrying amount
At 31 March 2025
86,329
86,329
At 31 March 2024
101,629
101,629
The company had no intangible fixed assets at 31 March 2025 or 31 March 2024.
More information on impairment movements in the year is given in note .
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 25 -
11
Tangible fixed assets
Group
Land and buildings Freehold
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
2,095,000
2,027,121
678,327
4,800,448
Additions
108,655
137,060
245,715
Disposals
(19,650)
(20,421)
(40,071)
At 31 March 2025
2,095,000
2,116,126
794,966
5,006,092
Depreciation and impairment
At 1 April 2024
1,582,846
226,401
1,809,247
Depreciation charged in the year
94,109
117,161
211,270
Eliminated in respect of disposals
(19,650)
(8,099)
(27,749)
At 31 March 2025
1,657,305
335,463
1,992,768
Carrying amount
At 31 March 2025
2,095,000
458,821
459,503
3,013,324
At 31 March 2024
2,095,000
444,275
451,926
2,991,201
The company had no tangible fixed assets at 31 March 2025 or 31 March 2024.
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
13
2,763,761
2,763,761
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024 and 31 March 2025
2,763,761
Carrying amount
At 31 March 2025
2,763,761
At 31 March 2024
2,763,761
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 26 -
13
Subsidiaries
Details of the company's subsidiaries at 31 March 2025 are as follows:
Name of undertaking
Nature of business
Class of
% Held
shares held
Direct
Indirect
Harte Electrical Limited
Dormant
Ordinary
0
100.00
Harte Woodworking Limited
Manufacture, supply and installation of shopfitting and general joinery products
Ordinary
100.00
0
Hunter Holdings (Property) Limited
Property letting
Ordinary
100.00
0
The registered office of the company's subsidiaries is Springfield Mill, Spa Street, Ossett, West Yorkshire, WF5 0HW.
14
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
1,613,030
1,325,412
-
-
Work in progress
62,990
140,853
-
-
Finished goods and goods for resale
239,456
171,366
1,915,476
1,637,631
-
-
15
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,650,765
1,605,113
Corporation tax recoverable
73,116
Amounts owed by group undertakings
-
-
1,594,999
2,696,909
Other debtors
1,432,275
1,488,761
554,019
Prepayments and accrued income
341,672
258,375
3,424,712
3,425,365
2,149,018
2,696,909
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 27 -
16
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
89,320
Trade creditors
877,817
1,221,432
Corporation tax payable
416,603
144,687
1,119
12,811
Other taxation and social security
343,667
389,384
-
-
Other creditors
187,294
214,835
Accruals and deferred income
150,854
150,176
2,065,555
2,120,514
1,119
12,811
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 28 -
17
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
158,574
179,484
Other timing differences
(3,737)
(3,170)
154,837
176,314
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 April 2024
176,314
-
Credit to profit or loss
(21,477)
-
Liability at 31 March 2025
154,837
-
Of the deferred tax liability set out above, £54,000 is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
178,279
161,859
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 29 -
19
Share capital
Group and company
2025
2024
Ordinary share capital
£
£
Issued and fully paid
800 Ordinary 'C' shares of £1 each
800
800
800 Ordinary 'D' shares of £1 each
800
800
800 Ordinary 'E' shares of £1 each
800
800
600 Ordinary 'M1' shares of £1 each
600
600
600 Ordinary 'M2' shares of £1 each
600
600
3,600
3,600
Each C, D and E share carries one vote on a show of hands or a poll; right to participate in a distribution pro rata; right to a return of capital and are not redeemable.
The votes of the M1 and M2 shares as a class are capped at 5% of the total shares eligible to vote. They provide the right to participate on a distribution pro rata and on a return of capital to the extent that such a distribution and return is attributed to Harte Woodworking Limited. The M1 shares are also not redeemable.
20
Operating lease commitments
Lessee
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
15,821
15,821
-
-
Between two and five years
21,845
37,666
-
-
37,666
53,487
-
-
21
Capital commitments
Amounts contracted for but not provided in the financial statements:
Group
Company
2025
2024
2025
2024
£
£
£
£
Acquisition of tangible fixed assets
38,459
-
-
-
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 30 -
22
Related party transactions
Transactions with related parties
During the year the group entered into the following transactions with related parties which were members of the group for 2024:
Income
Income
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Group
Other related parties
111,894
-
1,327,821
-
The following amounts were outstanding at the reporting end date:
Amounts due to related parties
2025
2024
£
£
Group
Other related parties
234,669
-
The following amounts were outstanding at the reporting end date:
Amounts due from related parties
2025
2024
Balance
Balance
£
£
Group
Other related parties
1,432,554
-
23
Cash generated from group operations
2025
2024
£
£
Profit after taxation
1,170,476
1,115,169
Adjustments for:
Taxation charged
391,803
317,640
Finance costs
2,989
Investment income
(84,000)
(10,862)
Gain on disposal of tangible fixed assets
(2,328)
(2,991)
Amortisation and impairment of intangible assets
28,497
32,165
Depreciation and impairment of tangible fixed assets
211,270
207,851
Other gains and losses
-
(98,453)
Movements in working capital:
(Increase)/decrease in stocks
(277,845)
418,497
Increase in debtors
(72,463)
(1,282,693)
(Decrease)/increase in creditors
(416,195)
955,713
Cash generated from operations
952,204
1,652,036
HUNTER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 31 -
24
Analysis of changes in net funds - group
1 April 2024
Cash flows
New finance leases
31 March 2025
£
£
£
£
Cash at bank and in hand
1,891,618
276,025
-
2,167,643
Obligations under finance leases
-
12,868
(102,188)
(89,320)
1,891,618
288,893
(102,188)
2,078,323
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