Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 25 July 2025 true 1 November 2023 31 October 2024 31 October 2024 01464224 Mr D J Berry Mr M Lambert true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01464224 2023-10-31 01464224 2024-10-31 01464224 2023-11-01 2024-10-31 01464224 frs-core:CurrentFinancialInstruments 2024-10-31 01464224 frs-core:BetweenOneFiveYears 2024-10-31 01464224 frs-core:ComputerEquipment 2023-11-01 2024-10-31 01464224 frs-core:InvestmentPropertyIncludedWithinPPE 2024-10-31 01464224 frs-core:InvestmentPropertyIncludedWithinPPE 2023-11-01 2024-10-31 01464224 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 01464224 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 01464224 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 01464224 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 01464224 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 01464224 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01464224 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 01464224 frs-core:MoreThanFiveYears 2024-10-31 01464224 frs-core:MotorVehicles 2024-10-31 01464224 frs-core:MotorVehicles 2023-11-01 2024-10-31 01464224 frs-core:MotorVehicles 2023-10-31 01464224 frs-core:PlantMachinery 2024-10-31 01464224 frs-core:PlantMachinery 2023-11-01 2024-10-31 01464224 frs-core:PlantMachinery 2023-10-31 01464224 frs-core:WithinOneYear 2024-10-31 01464224 frs-core:CapitalRedemptionReserve 2024-10-31 01464224 frs-core:ShareCapital 2024-10-31 01464224 frs-core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 01464224 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 01464224 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 01464224 frs-bus:FullAccounts 2023-11-01 2024-10-31 01464224 frs-bus:FRS102 2023-11-01 2024-10-31 01464224 frs-bus:Audited 2023-11-01 2024-10-31 01464224 frs-bus:LargeCompaniesRegimeForAccounts 2023-11-01 2024-10-31 01464224 frs-bus:LargeCompaniesRegimeForDirectorsReport 2023-11-01 2024-10-31 01464224 frs-bus:OrdinaryShareClass1 2023-11-01 2024-10-31 01464224 frs-bus:OrdinaryShareClass1 2024-10-31 01464224 1 2023-11-01 2024-10-31 01464224 frs-core:DeferredTaxation 2023-11-01 2024-10-31 01464224 frs-core:DeferredTaxation 2023-10-31 01464224 frs-core:DeferredTaxation 2024-10-31 01464224 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 01464224 frs-bus:Director1 2023-11-01 2024-10-31 01464224 frs-bus:Director2 2023-11-01 2024-10-31 01464224 frs-bus:Director3 2023-11-01 2024-10-31 01464224 frs-bus:Director3 2024-10-31 01464224 frs-bus:Director4 2023-11-01 2024-10-31 01464224 frs-bus:Director4 2024-10-31 01464224 1 2023-11-01 2024-10-31 01464224 frs-core:CurrentFinancialInstruments 5 2024-10-31 01464224 frs-countries:EnglandWales 2023-11-01 2024-10-31 01464224 2022-10-31 01464224 2023-10-31 01464224 2022-11-01 2023-10-31 01464224 frs-core:CurrentFinancialInstruments 2023-10-31 01464224 frs-core:BetweenOneFiveYears 2023-10-31 01464224 frs-core:MoreThanFiveYears 2023-10-31 01464224 frs-core:WithinOneYear 2023-10-31 01464224 frs-core:CapitalRedemptionReserve 2022-10-31 01464224 frs-core:CapitalRedemptionReserve 2023-10-31 01464224 frs-core:ShareCapital 2022-10-31 01464224 frs-core:ShareCapital 2023-10-31 01464224 frs-core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 01464224 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-10-31 01464224 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 01464224 frs-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 01464224 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-10-31 01464224 1 2022-11-01 2023-10-31 01464224 frs-core:CurrentFinancialInstruments 5 2023-10-31
Registered number: 01464224
C & W Berry Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Strategic Report 1—3
Directors' Report 4—6
Independent Auditor's Report 7—9
Profit and Loss Account 10
Balance Sheet 11
Statement of Changes in Equity 12
Statement of Cash Flows 13
Notes to the Statement of Cash Flows 14
Notes to the Financial Statements 15—23
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 October 2024.
Principal Activity
The company's principal activity continues to be that of timber, builders', plumbers' and electrical merchants.
Review of the Business
The financial year began against a backdrop of higher interest rates and heightened economic uncertainty arising due to many factors, both domestic and international. In the prior year turnover remained buoyant, despite 9 interest rate increases between August 2022 and August 2023 when Bank of England base rate peaked at 5.25% and then remained at that level for the following 12 months. In the last quarter of 2023 trade sales contracted by an average 10% with the rate of contraction doubling to 20% over the first 6 months of 2024 before settling back to 10% towards the end of the financial period. Despite reductions in base lending rate during the last quarter signalling an end to rate increases, house building didn’t significantly recover before the period end due to persistent economic uncertainty being exacerbated by anticipation of the most business-unfriendly budget for 14 years. Notwithstanding significantly higher employment costs being imposed by the new Labour government, the start of 2025 has seen the return of some stability and growth. Most employers disapproved of the November budget for many reasons but at least they now know the parameters within which they must operate. One of the biggest concerns the board has revolves around capital investment and long-term growth within its customer base and the fact that re-investment may become stifled by the need to allocate cash to fund future inheritance tax liabilities since the Labour proposed reduction in business property relief affecting private trading businesses.
Market Conditions and Supply Chain Management
Throughout the year, building material prices demonstrated a gradual moderation in many product areas while some segments continued to experience fluctuations. In response, we further refined our proactive stock management strategies. Our extensive main storage yard and robust liquidity have once again allowed us to buffer price volatility, ensuring that our customers benefit from both continuity and competitive pricing. This ongoing vigilance in stock and supplier management remains a cornerstone of our operations.
Digital Transformation and Showroom Innovation
Building on the digital initiatives introduced in previous reporting periods, 2024 saw another phase of advancement in our digital strategy. Our E-commerce website now features enhanced personalisation, expanded product listings, and improved mobile functionality — all of which have contributed to a marked increase in both traffic and conversion rates. In tandem, the dedicated bathroom and tiling showroom — launched mid-2023 — continued to attract attention and grow. Incorporating innovative design elements and customer engagement zones, the showroom has again attracted national acclaim, receiving further industry awards that confirm our leadership in retail innovation within the sector.
Future Developments and Strategic Contracting
Looking forward, our strategic focus remains on diversification and long-term stable growth whilst further fostering enhanced relations with existing partners. During the previous trading period we secured a multi-year extension with one of our major social housing customers following a successful tender process. This contract not only cements a long-standing partnership and stable revenue base but also positions us to benefit from anticipated in-sourcing opportunities across previously external service areas.
Principal Risks and Uncertainties
The year’s operational challenges reaffirmed that the primary risks remain credit, liquidity, market, and economic risks:-
Credit risk
We sustain a rigorous approach through a diverse customer base and a dynamic in-house credit management team.
...CONTINUED
Page 1
Page 2
Principal Risks and Uncertainties - continued
Liquidity and cash flow risk
Daily cash monitoring and a diversified banking strategy, alongside smart utilisation of auto-switching facilities, underpin our robust liquidity position.
Market and economic risk
Our broad customer and product mix mitigate susceptibility to individual sector-specific downturns.
Interest rate and competition risk
While we continue to face indirect pressure from persistent high interest rates, our zero gearing strategy and proactive competitive measures ensure we remain adaptable.
General competition risk is an issue for all businesses, that is why it is important for the company to maintain and strengthen its staffing and customer service levels as well as its stock range and levels wherever possible.
Key Performance Indicators
Our principal financial KPIs continue to be turnover (which has decreased on last year by £7,913,587), gross profit (decreased by £3,576,477), staff costs (increased by £678,755 on 2023) and profit before tax (down £2,862,694 on last year).
Section 172(1) Statement
The revised UK Corporate Governance code ('2018 Code') was published in July 2018 and applies to accounting periods beginning on or after 1 January 2019. The Companies (Miscellaneous Reporting) Regulations 2018 ('2018 MRR') require directors to explain how they considered the interests of key stakeholders and the broader matters set out in section 172(1) (a) to (f) of the Companies Act 2006 ('s172') when performing their duty to promote the success of the company under s172.
The s172 statement focuses on matters of strategic importance to the company, and the level of information disclosed is consistent with the size and the complexity of the business.
When making decisions, each director ensures that they act in a way they consider, in good faith, would most likely promote the company's success for the benefit of its members as a whole, and, in doing so have regard (among other matters) to:
(a) 'The likely consequences of any decision in the long term'
The directors have regard to the long term implications of the decisions they make, and have a policy of sustaining a diverse and comprehensive product range to enable it to take advantage of swings in the market.
When making decisions on capital commitments the directors have due regard for the financial implications to the company including affordability and returns on the investment and will ensure the overall benefits of such commitments outweigh the costs. 
The directors will also ensure any adverse impact on their employees by any decisions made are minimal to the best of their ability.
(b) 'The interests of the company's employees'
The directors recognise the importance of staff to the success of the business. The company regularly updates employees and also posts information on notice boards across the company to keep employees informed.
...CONTINUED
Page 2
Page 3
Section 172(1) Statement - continued
Employee feedback is encouraged and welcomed by the directors, especially when undertaking major decisions, in this regard, being largely on one site is of great advantage.
(c) 'The need to foster the company's business relationships with suppliers, customers and others'
The directors understand that the success of the business also relies on strong mutually beneficial relationships with suppliers, customers and other partners. The company ensures its relationships with its suppliers, customers and other partners are amicable, and any potential disputes are resolved in a timely and fair manner. 
The company is a member of a buying group with other companies, who pool their resources together to achieve a fair deal from suppliers, in addition the company has several longstanding suppliers who they have a strong relationship with and whom the company is in regular contact with at senior levels to ensure the relationship remains strong and mutually beneficial. 
The company closely monitors its bad debt risk and will speak to the customer in the first instance to agree a mutual way forward, only taking further action if such an agreement can't be found. This has enabled the company to continue to maintain its reputation as a good, fair company for others to do business with.
(d) 'The impact of the company's operations on the community and the environment'
The company considers the impact its operations make on the community and the environment. The company sources all timber from sustainable sources and has waste management procedures in place to increase recycling and protect the environment. 
The company has due regard for neighbouring businesses and residences when making changes, including the effect of goods traffic on the area.
(e) 'The desirability of the company maintaining a reputation for high standards of business conduct'
The company considers that its policies of staff incentivisation, reward and engagement, fair pricing, and an aversion to unnecessary risks ensure the company remains on a sustainable footing while growing the company and maintaining its reputation. 
The company always endeavours to ensure equal opportunity for employees, to ensure a safe and healthy working environment and to ensure the business is run ethically.
(f) 'The need to act fairly as between members of the company'
The directors consider which courses of action best enable delivery of its strategy and aims, after weighing up all relevant factors and taking into consideration the impact on stakeholders. 
In doing so, the directors act fairly as between the company's members, ensuring all members have the chance to express their views before a decision is made that impacts them.
On behalf of the board
Mr D J Berry
Director
25 July 2025
Page 3
Page 4
Directors' Report
The directors present their report and the financial statements for the year ended 31 October 2024.
Dividends
Equity dividends were paid to the parent undertaking during the year to fund capital projects.
Directors
The directors who held office during the year were as follows:
Mr D J Berry
Mr M Lambert
Mr P Jones Resigned 05/04/2024
Mr G W Higham Resigned 23/10/2024
Employees
The company continues to develop a policy of direct and systematic communication on all relevant matters including the company's business and current market issues with employees. The company holds monthly department head meetings which are minuted and, as well as meeting minutes being displayed on all department notice boards, department heads are requested to discuss topics covered with their colleagues and to encourage constructive feed back. In addition, all directors' doors are open to all staff who may wish to consult on any business or personal issue. The company always strives to involve staff in any decisions which may affect them personally or their health, happiness or well-being in the workplace.
Employment of disabled persons
Applications for employment by disabled persons are always fully considered, bearing in mind the abilities of the applicant concerned. In the event of members of staff becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Streamlined Energy and Carbon Reporting
Methodologies for energy and emissions calculations
The UK Government's Streamlined Energy and Carbon Reporting (SECR) policy came into effect on 1st April 2019. This regulation requires large unquoted companies to report on UK energy use, and the associated greenhouse gas (GHG) emissions, that relate to the consumption of fuel for the purposes of transport and the purchase of gas, electricity and other fuels by the company for its own use.
We have measured our direct emissions from fuel and processes and those emissions from purchased gas and electricity for the assets we operated for the period 1 November 2023 to 31 October 2024.
Energy usage for operated assets - Associated GHG emissions: 1,312.7 tCO2e
Intensity ratio - we have produced 21.3 tonnes of CO2 per £1 million of sales.
Energy usage and consumption data was gathered throughout the year and this data was input into a carbon footprint calculator in order to calculate the associated greenhouse gas emissions.
Data was gathered for the consumption of energy as follows:
- Annual purchase of electricity for our own use in kWh
- Annual purchase of gas for our own use in kWh
- Annual purchase of fuel for our own use in Ltrs
...CONTINUED
Page 4
Page 5
Streamlined Energy and Carbon Reporting - continued
Principal measures taken to increase energy efficiency
The directors are committed to improving the energy efficiency of the company. As part of this, the company reviews its motor vehicle fleet on a regular basis, phasing out older, less fuel efficient vehicles and replacing when necessary, with new more efficient vehicles. Where appropriate we are also replacing older diesel powered fork-lift trucks and side-loaders with rechargeable electric powered alternatives. The company has committed to install LED lighting for both new installations and for replacement of existing units.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Page 5
Page 6
Independent Auditors
The auditors, Whitehead & Aldrich, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr D J Berry
Director
25 July 2025
Page 6
Page 7
Independent Auditor's Report
Opinion
We have audited the financial statements of C & W Berry Limited for the year ended 31 October 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 October 2024 and of its profit/(loss) 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'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 entity's ability to continue as a going concern for a period of at least 12 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 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.
Page 7
Page 8
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 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 or 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 set out on page 4—6, 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.
Page 8
Page 9
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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
- Enquiries with management, including directors, about any known or suspected instancies of non-compliance with laws or regulations and fraud.
- Challenging assumptions and judgements made by management in their significant accounting estimates.
- Auditing the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness.
Because of the field in which the client operates, we identified the following areas as those most likely to have a material impact on the financial statements: Compliance with the UK Companies Act, compliance with the Taxes Acts and employment law.
Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISA's (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that 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.
Jonathan Hughes-Deane FCA (Senior Statutory Auditor)
for and on behalf of Whitehead & Aldrich , Statutory Auditor
25 July 2025
Whitehead & Aldrich
Chartered Accountants
5 Ribblesdale Place
Preston
Lancashire
PR1 8BZ
Page 9
Page 10
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 3 61,528,712 69,442,299
Cost of sales (53,299,496 ) (57,636,606 )
GROSS PROFIT 8,229,216 11,805,693
Distribution costs (905,128 ) (899,749 )
Administrative expenses (5,032,901 ) (5,087,449 )
Other operating income 31,170 32,035
OPERATING PROFIT 5 2,322,357 5,850,530
Other interest receivable and similar income 10 1,039,088 376,519
Interest payable and similar charges 11 (996 ) (3,906 )
PROFIT BEFORE TAXATION 3,360,449 6,223,143
Tax on Profit 12 (852,838 ) (1,415,653 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 2,507,611 4,807,490
The notes on pages 14 to 23 form part of these financial statements.
Page 10
Page 11
Balance Sheet
Registered number: 01464224
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 13 5,033,511 4,763,226
5,033,511 4,763,226
CURRENT ASSETS
Stocks 14 4,520,335 5,339,272
Debtors 15 18,798,890 20,682,145
Cash at bank and in hand 11,765,662 10,269,488
35,084,887 36,290,905
Creditors: Amounts Falling Due Within One Year 16 (3,526,856 ) (5,553,400 )
NET CURRENT ASSETS (LIABILITIES) 31,558,031 30,737,505
TOTAL ASSETS LESS CURRENT LIABILITIES 36,591,542 35,500,731
PROVISIONS FOR LIABILITIES
Deferred Taxation 17 (521,800 ) (438,600 )
NET ASSETS 36,069,742 35,062,131
CAPITAL AND RESERVES
Called up share capital 19 4,900 4,900
Capital redemption reserve 100 100
Profit and Loss Account 36,064,742 35,057,131
SHAREHOLDERS' FUNDS 36,069,742 35,062,131
On behalf of the board
Mr D J Berry
Director
25 July 2025
The notes on pages 14 to 23 form part of these financial statements.
Page 11
Page 12
Statement of Changes in Equity
Share Capital Capital Redemption Profit and Loss Account Total
£ £ £ £
As at 1 November 2022 4,900 100 32,249,641 32,254,641
Profit for the year and total comprehensive income - - 4,807,490 4,807,490
Dividends paid - - (2,000,000) (2,000,000)
As at 31 October 2023 and 1 November 2023 4,900 100 35,057,131 35,062,131
Profit for the year and total comprehensive income - - 2,507,611 2,507,611
Dividends paid - - (1,500,000) (1,500,000)
As at 31 October 2024 4,900 100 36,064,742 36,069,742
Page 12
Page 13
Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 3,999,286 3,871,656
Interest paid (996 ) (3,906 )
Tax paid (1,088,253 ) (1,593,620 )
Net cash generated from operating activities 2,910,037 2,274,130
Cash flows from investing activities
Purchase of tangible assets (957,535 ) (841,808 )
Proceeds from disposal of tangible assets 4,584 17,625
Interest received 1,039,088 376,519
Net cash generated from/(used in) investing activities 86,137 (447,664 )
Cash flows from financing activities
Equity dividends paid (1,500,000 ) (2,000,000 )
Increase/(decrease) in cash and cash equivalents 1,496,174 (173,534 )
Cash and cash equivalents at beginning of year 2 10,269,488 10,443,022
Cash and cash equivalents at end of year 2 11,765,662 10,269,488
Page 13
Page 14
Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 2,507,611 4,807,490
Adjustments for:
Tax on profit 852,838 1,415,653
Interest expense 996 3,906
Interest income (1,039,088 ) (376,519 )
Depreciation of tangible assets 682,666 550,438
Movements in working capital:
Decrease in stocks 818,937 143,918
Decrease/(increase) in trade and other debtors 2,287,918 (5,366,677 )
(Decrease)/increase in trade and other creditors (2,112,592 ) 2,693,447
Net cash generated from operations 3,999,286 3,871,656
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 11,765,662 10,269,488
3. Analysis of changes in net funds
As at 1 November 2023 Cash flows As at 31 October 2024
£ £ £
Cash at bank and in hand 10,269,488 1,496,174 11,765,662
Page 14
Page 15
Notes to the Financial Statements
1. General Information
C & W Berry Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01464224 . The registered office is Wellfield Sawmills, King Street, Leyland Preston, Lancashire, PR25 2LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit and loss and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Significant judgements and estimations
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. The judgements and 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:
- The estimated useful life of the tangible fixed assets and the depreciation rates used thereon.
- The valuation of investment property.
- The net realisable value of slow moving stock.
- The recoverability of the debtors.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Page 15
Page 16
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold - 2% on building's cost
Leasehold - 2% on cost
Plant and Equipment - 20% on written down value
Motor Vehicles - 25% on written down value
Computer Equipment - 20% on cost
No depreciation is provided on freehold land.
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Page 16
Page 17
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Operating Leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
3. Turnover
Analysis of turnover by class of business is as follows:
2024 2023
£ £
Sale of goods 61,528,712 69,442,299
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
Page 17
Page 18
4. Other Operating Income
2024 2023
£ £
Rental income 29,900 29,900
Other operating income 1,270 2,135
31,170 32,035
5. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts 38,160 7,531
Operating lease rentals 75,175 68,125
Depreciation of tangible fixed assets 682,666 550,438
6. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 21,700 21,000
Other Services
Other non-audit services 1,000 1,000
7. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 9,003,392 8,480,739
Social security costs 908,428 834,445
Other pension costs 364,931 282,812
10,276,751 9,597,996
8. Average Number of Employees
Average number of employees, including directors, during the year was: 248 (2023: 248)
248 248
Page 18
Page 19
9. Directors' remuneration
2024 2023
£ £
Emoluments 121,395 162,918
The number of directors to whom retirement benefits were accruing was as follows:
2024 2023
Money purchase pension schemes 3 4
In addition to the above directors' emoluments are company contributions to money purchase pension schemes of £45,000 (2023 - £40,000)
10. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 1,039,088 376,519
11. Interest Payable and Similar Charges
2024 2023
£ £
Corporation tax interest payable 996 3,906
12. Tax on Profit
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax
UK Corporation Tax 769,638 1,338,253
Deferred Tax
Deferred taxation 83,200 77,400
Total tax charge for the period 852,838 1,415,653
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 3,360,449 6,223,143
Tax on profit at 25% (UK standard rate) 840,112 1,555,786
...CONTINUED
Page 19
Page 20
Goodwill/depreciation not allowed for tax (72,606 ) (72,408 )
Expenses not deductible for tax purposes 2,132 2,394
Capital allowances 84,500 79,100
Short term timing differences (1,300 ) (1,700 )
Difference in tax rates - (147,519 )
Total tax charge for the period 852,838 1,415,653
13. Tangible Assets
Land & Property
Freehold Leasehold Investment Properties Plant and Equipment
£ £ £ £
Cost or Valuation
As at 1 November 2023 378,223 2,166,374 890,228 3,619,025
Additions - 23,305 - 39,982
Disposals - - - (37,772 )
As at 31 October 2024 378,223 2,189,679 890,228 3,621,235
Depreciation
As at 1 November 2023 73,628 622,573 - 2,477,888
Provided during the period 3,604 43,445 - 292,043
Disposals - - - (37,772 )
As at 31 October 2024 77,232 666,018 - 2,732,159
Net Book Value
As at 31 October 2024 300,991 1,523,661 890,228 889,076
As at 1 November 2023 304,595 1,543,801 890,228 1,141,137
Motor Vehicles Total
£ £
Cost or Valuation
As at 1 November 2023 2,246,033 9,299,883
Additions 894,248 957,535
Disposals (45,304 ) (83,076 )
As at 31 October 2024 3,094,977 10,174,342
Depreciation
As at 1 November 2023 1,362,568 4,536,657
Provided during the period 343,574 682,666
Disposals (40,720 ) (78,492 )
As at 31 October 2024 1,665,422 5,140,831
...CONTINUED
Page 20
Page 21
Net Book Value
As at 31 October 2024 1,429,555 5,033,511
As at 1 November 2023 883,465 4,763,226
The directors believe the fair value of the investment property at 31st October 2024 is equivalent to the original cost and have therefore not obtained an independent valuation.
Included in freehold land and property is land amounting to £197,982 (2023 - £197,982) which has not been depreciated.
14. Stocks
2024 2023
£ £
Goods for resale 4,504,802 5,324,326
Other 15,533 14,946
4,520,335 5,339,272
15. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,031,226 8,836,577
Prepayments and accrued income 1,771,020 1,754,001
Other debtors 2,653 2,423
Amount owed by related party 7,517,587 10,017,403
Corporation tax recoverable 230,362 -
Other taxes and social security 246,042 71,741
18,798,890 20,682,145
16. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,615,743 1,078,766
Amounts owed to group undertakings 1,060,849 3,437,753
Other creditors 3,500 3,500
Corporation tax - 88,253
Accruals and deferred income 846,764 945,128
3,526,856 5,553,400
Page 21
Page 22
17. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 533,100 448,600
Other timing differences (11,300) (10,000)
521,800 438,600
18. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 November 2023 438,600 438,600
Deferred taxation 83,200 83,200
Balance at 31 October 2024 521,800 521,800
19. Share Capital
2024 2023
Allotted, called up and fully paid £ £
4,900 Ordinary Shares of £ 1 each 4,900 4,900
20. Capital Commitments
2024 2023
£ £
At the end of the period 118,510 329,931
At the end of the period, the company had the above capital commitments contracted for but not provided in these financial statements.
21. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 80,125 68,125
Later than one year and not later than five years 289,500 272,500
Later than five years 3,808,129 3,876,254
4,177,754 4,216,879
Page 22
Page 23
22. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £364,931 (2023: £282,812).
At the balance sheet date contributions of £103,603 (2023: £94,504) were due to the fund and are included in creditors.
23. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 1,500,000 2,000,000
Equity dividends were paid to the parent undertaking during the year to fund capital projects.
24. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company.
25. Related Party Disclosures
Consolidated financial statements of C.W.B.G Limited have been prepared and will be filed with the Registrar of Companies. As a wholly owned subsidiary undertaking of this group, the company is exempt from disclosure of transactions with the parent undertaking.
C & W Berry Trading Limited
This company is a related party by virtue of the fact the two companies have the following common director:
Mr. D. J. Berry
The debtor balance of £7,517,587 owed by this company was repaid in November 2024.
26. Controlling Parties
The company is a wholly owned subsidiary undertaking of C. W. B. G Limited, a company registered in England and Wales (company registration number - 8261788). The consolidated accounts of this company are available to the public and may be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.
Page 23