Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false false 25 July 2025 true true 1 November 2023 31 October 2024 31 October 2024 08261788 Mr D J Berry 31 October 2024 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08261788 2023-10-31 08261788 2024-10-31 08261788 2023-11-01 2024-10-31 08261788 frs-core:CurrentFinancialInstruments 2024-10-31 08261788 frs-core:InvestmentPropertyIncludedWithinPPE 2024-10-31 08261788 frs-core:InvestmentPropertyIncludedWithinPPE 2023-11-01 2024-10-31 08261788 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 08261788 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 08261788 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 08261788 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 08261788 frs-core:PlantMachinery 2024-10-31 08261788 frs-core:PlantMachinery 2023-11-01 2024-10-31 08261788 frs-core:PlantMachinery 2023-10-31 08261788 frs-core:CapitalRedemptionReserve 2023-11-01 2024-10-31 08261788 frs-core:CapitalRedemptionReserve 2024-10-31 08261788 frs-core:SharePremium 2023-11-01 2024-10-31 08261788 frs-core:SharePremium 2024-10-31 08261788 frs-core:ShareCapital 2023-11-01 2024-10-31 08261788 frs-core:ShareCapital 2024-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 08261788 frs-bus:ConsolidatedGroupCompanyAccounts 2023-11-01 2024-10-31 08261788 frs-core:DeferredTaxation 2023-11-01 2024-10-31 08261788 frs-core:DeferredTaxation 2023-10-31 08261788 frs-core:DeferredTaxation 2024-10-31 08261788 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 08261788 frs-core:CostValuation 2023-10-31 08261788 frs-core:CostValuation 2024-10-31 08261788 frs-core:ProvisionsForImpairmentInvestments 2023-10-31 08261788 frs-core:ProvisionsForImpairmentInvestments 2024-10-31 08261788 frs-bus:Director1 2023-11-01 2024-10-31 08261788 frs-core:CurrentFinancialInstruments 5 2024-10-31 08261788 frs-bus:Consolidated 2023-10-31 08261788 frs-bus:Consolidated 2024-10-31 08261788 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:CurrentFinancialInstruments frs-bus:Consolidated 2024-10-31 08261788 frs-core:BetweenOneFiveYears frs-bus:Consolidated 2024-10-31 08261788 frs-core:ComputerEquipment frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:InvestmentPropertyIncludedWithinPPE frs-bus:Consolidated 2024-10-31 08261788 frs-core:InvestmentPropertyIncludedWithinPPE frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:InvestmentPropertyIncludedWithinPPE frs-bus:Consolidated 2023-10-31 08261788 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee frs-bus:Consolidated 2024-10-31 08261788 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee frs-bus:Consolidated 2023-10-31 08261788 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets frs-bus:Consolidated 2024-10-31 08261788 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets frs-bus:Consolidated 2023-10-31 08261788 frs-core:MoreThanFiveYears frs-bus:Consolidated 2024-10-31 08261788 frs-core:MotorVehicles frs-bus:Consolidated 2024-10-31 08261788 frs-core:MotorVehicles frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:MotorVehicles frs-bus:Consolidated 2023-10-31 08261788 frs-core:PlantMachinery frs-bus:Consolidated 2024-10-31 08261788 frs-core:PlantMachinery frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:PlantMachinery frs-bus:Consolidated 2023-10-31 08261788 frs-core:WithinOneYear frs-bus:Consolidated 2024-10-31 08261788 frs-core:CapitalRedemptionReserve frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:CapitalRedemptionReserve frs-bus:Consolidated 2024-10-31 08261788 frs-core:RevaluationReserve frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:RevaluationReserve frs-bus:Consolidated 2024-10-31 08261788 frs-core:ShareCapital frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:ShareCapital frs-bus:Consolidated 2024-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2024-10-31 08261788 frs-bus:PrivateLimitedCompanyLtd frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:FullAccounts frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:FRS102 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:Audited frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:LargeCompaniesRegimeForAccounts frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:LargeCompaniesRegimeForDirectorsReport frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:OrdinaryShareClass1 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:OrdinaryShareClass1 frs-bus:Consolidated 2024-10-31 08261788 1 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 1 frs-bus:Consolidated 2024-10-31 08261788 1 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:DeferredTaxation frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:DeferredTaxation frs-bus:Consolidated 2023-10-31 08261788 frs-core:DeferredTaxation frs-bus:Consolidated 2024-10-31 08261788 frs-core:AcceleratedTaxDepreciationDeferredTax frs-bus:Consolidated 2024-10-31 08261788 frs-bus:Director1 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:Director2 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-bus:Director2 frs-bus:Consolidated 2024-10-31 08261788 1 frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 frs-core:CurrentFinancialInstruments 5 frs-bus:Consolidated 2024-10-31 08261788 frs-countries:EnglandWales frs-bus:Consolidated 2023-11-01 2024-10-31 08261788 2022-10-31 08261788 2023-10-31 08261788 2022-11-01 2023-10-31 08261788 frs-core:CurrentFinancialInstruments 2023-10-31 08261788 frs-core:CapitalRedemptionReserve 2022-10-31 08261788 frs-core:CapitalRedemptionReserve 2023-10-31 08261788 frs-core:SharePremium 2022-10-31 08261788 frs-core:SharePremium 2023-10-31 08261788 frs-core:ShareCapital 2022-10-31 08261788 frs-core:ShareCapital 2023-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08261788 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-10-31 08261788 frs-core:CurrentFinancialInstruments 5 2023-10-31 08261788 frs-bus:Consolidated 2022-10-31 08261788 frs-bus:Consolidated 2023-10-31 08261788 frs-bus:Consolidated 2022-11-01 2023-10-31 08261788 frs-core:CurrentFinancialInstruments frs-bus:Consolidated 2023-10-31 08261788 frs-core:BetweenOneFiveYears frs-bus:Consolidated 2023-10-31 08261788 frs-core:MoreThanFiveYears frs-bus:Consolidated 2023-10-31 08261788 frs-core:WithinOneYear frs-bus:Consolidated 2023-10-31 08261788 frs-core:CapitalRedemptionReserve frs-bus:Consolidated 2022-10-31 08261788 frs-core:CapitalRedemptionReserve frs-bus:Consolidated 2023-10-31 08261788 frs-core:RevaluationReserve frs-bus:Consolidated 2022-10-31 08261788 frs-core:RevaluationReserve frs-bus:Consolidated 2023-10-31 08261788 frs-core:ShareCapital frs-bus:Consolidated 2022-10-31 08261788 frs-core:ShareCapital frs-bus:Consolidated 2023-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2022-11-01 2023-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount frs-bus:Consolidated 2022-10-31 08261788 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2023-10-31 08261788 frs-bus:OrdinaryShareClass1 frs-bus:Consolidated 2022-11-01 2023-10-31 08261788 frs-core:AcceleratedTaxDepreciationDeferredTax frs-bus:Consolidated 2023-10-31 08261788 1 frs-bus:Consolidated 2022-11-01 2023-10-31 08261788 frs-core:CurrentFinancialInstruments 5 frs-bus:Consolidated 2023-10-31
Registered number: 08261788
C.W.B.G Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Strategic Report 1—4
Directors' Report 5—7
Independent Auditor's Report 8—10
Consolidated Profit and Loss Account 11
Consolidated Balance Sheet 12
Company Balance Sheet 13—14
Consolidated Statement of Changes in Equity 15
Company Statement of Changes in Equity 16
Consolidated Statement of Cash Flows 17
Notes to the Consolidated Statement of Cash Flows 18
Notes to the Financial Statements 19—31
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 October 2024.
Principal Activity
The group'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.
Future Developments
During the year, one of the group’s larger registered social housing customers re-tendered their RMI building materials supply contract. The group competed with several national merchants for the contract and the directors are pleased to report that the contract was retained for an initial, minimum, five-year period.
This contract has the potential to significantly increase in value due to the fact that the client is intending to contract back in services in certain geographical areas which were previously contracted out.
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 £3,527,222), staff costs (increased by £678,755 on 2023) and profit before tax (down £2,788,800 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 group under s172.
The s172 statement focuses on matters of strategic importance to the group, 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 group'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 group including affordability and returns on the investment and will ensure the overall benefits of such commitments outweigh the costs.
...CONTINUED
Page 2
Page 3
Section 172(1) Statement - continued
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 group's employees'
The directors recognise the importance of staff to the success of the business. The group regularly updates employees and also posts information on notice boards across the group to keep employees informed. 
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 group'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 group 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 group 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 group has several longstanding suppliers who they have a strong relationship with and whom the group is in regular contact with at senior levels to ensure the relationship remains strong and mutually beneficial.
The group 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 group to continue to maintain its reputation as a good, fair group for others to do business with.
(d) 'The impact of the group's operations on the community and the environment'
The group considers the impact its operations make on the community and the environment. The group sources all timber from sustainable sources and has waste management procedures in place to increase recycling and protect the environment.
The group 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 group maintaining a reputation for high standards of business conduct'
The group considers that its policies of staff incentivisation, reward and engagement, fair pricing, and an aversion to unnecessary risks ensure the group remains on a sustainable footing while growing the group and maintaining its reputation.
The group 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 group'
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 group'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
Page 3
Page 4
Mr D J Berry
Director
25 July 2025
Page 4
Page 5
Directors' Report
The directors present their report and the financial statements for the year ended 31 October 2024.
Change of Company Name
On the company changed its name from to C.W.B.G Limited .
Dividends
Particulars of recommended dividends are detailed in note 24 to the financial statements.
Political Donations and Expenditure
Political donations amounted to £NIL .
Political expenditure amounted to £NIL .
Financial Instruments
Directors
The directors who held office during the year were as follows:
Mr D J Berry
Mr G W Higham Resigned 23/10/2024
Qualifying Third-party and Pension Scheme Indemnity Provision
Research and Development
Post Balance Sheet Events
Employees
The group 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 group 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 group 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 group continues and that appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Employee Engagement Statement
Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Group
Branches Outside the UK
Page 5
Page 6
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 2021 to 31 October 2022.
Energy usage for operated assets - Associated GHG emissions: 1,227.9 tCO2e
Intensity ratio - we have produced 18.2 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
Principal measures taken to increase energy efficiency
The directors are committed to improving the energy efficiency of the group. As part of this, the group 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 group has committed to install LED lighting for both new installations and for replacement of existing units.
Additional note to the Report of the Directors
Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.
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 the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:
...CONTINUED
Page 6
Page 7
Statement of Directors' Responsibilities - continued
  • 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 and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 and group'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 and group's auditors are aware of that information.
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 7
Page 8
Independent Auditor's Report
Opinion
We have audited the financial statements of C.W.B.G Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 October 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated 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 group's and of the parent company's affairs as at 31 October 2024 and of the group's 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 group and parent 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 group and parent company'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 8
Page 9
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 group and parent company and their 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
  • the parent company financial statements are not in agreement with the accounting records 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 5—7, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
Page 9
Page 10
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 (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 10
Page 11
Consolidated Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 3 61,528,712 69,442,299
Cost of sales (53,367,775 ) (57,754,140 )
GROSS PROFIT 8,160,937 11,688,159
Distribution costs (905,128 ) (899,749 )
Administrative expenses (3,746,497 ) (3,708,029 )
Other operating income 561,954 492,161
OPERATING PROFIT 5 4,071,266 7,572,542
Other interest receivable and similar income 10 1,089,867 379,085
Interest payable and similar charges 11 (2,212 ) (3,906 )
PROFIT BEFORE TAXATION 5,158,921 7,947,721
Tax on Profit 12 (1,321,859 ) (1,817,246 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 3,837,062 6,130,475
The notes on pages 18 to 31 form part of these financial statements.
Page 11
Page 12
Consolidated Balance Sheet
Registered number: 08261788
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 13 15,027,310 14,813,321
15,027,310 14,813,321
CURRENT ASSETS
Stocks 15 4,520,335 5,339,272
Debtors 16 18,462,006 20,681,273
Cash at bank and in hand 15,195,971 10,528,972
38,178,312 36,549,517
Creditors: Amounts Falling Due Within One Year 17 (2,699,872 ) (2,319,000 )
NET CURRENT ASSETS (LIABILITIES) 35,478,440 34,230,517
TOTAL ASSETS LESS CURRENT LIABILITIES 50,505,750 49,043,838
PROVISIONS FOR LIABILITIES
Deferred Taxation 18 (526,000 ) (443,100 )
NET ASSETS 49,979,750 48,600,738
CAPITAL AND RESERVES
Called up share capital 20 2,252 2,317
Revaluation reserve 25 2,347,220 2,347,220
Capital redemption reserve 933 868
Profit and Loss Account 47,629,345 46,250,333
SHAREHOLDERS' FUNDS 49,979,750 48,600,738
On behalf of the board
Mr D J Berry
Director
25 July 2025
The notes on pages 18 to 31 form part of these financial statements.
Page 12
Page 13
Company Balance Sheet
Registered number: 08261788
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 13 9,993,799 10,050,095
Investments 14 13,522,216 13,522,216
23,516,015 23,572,311
CURRENT ASSETS
Debtors 16 1,127,436 3,578,450
Cash at bank and in hand 3,429,445 258,548
4,556,881 3,836,998
Creditors: Amounts Falling Due Within One Year 17 (637,472 ) (344,986 )
NET CURRENT ASSETS (LIABILITIES) 3,919,409 3,492,012
TOTAL ASSETS LESS CURRENT LIABILITIES 27,435,424 27,064,323
PROVISIONS FOR LIABILITIES
Deferred Taxation 18 (4,200 ) (4,500 )
NET ASSETS 27,431,224 27,059,823
CAPITAL AND RESERVES
Called up share capital 20 2,252 2,317
Share premium account 13,414,806 13,414,806
Capital redemption reserve 933 868
Profit and Loss Account 14,013,233 13,641,832
SHAREHOLDERS' FUNDS 27,431,224 27,059,823
Page 13
Page 14
In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 2,829,451 (2023: £ 3,322,985 profit).
On behalf of the board
Mr D J Berry
Director
25 July 2025
The notes on pages 18 to 31 form part of these financial statements.
Page 14
Page 15
Consolidated Statement of Changes in Equity
Share Capital Revaluation reserve Capital Redemption Profit and Loss Account Total
£ £ £ £ £
As at 1 November 2022 2,317 2,347,220 868 40,467,408 42,817,813
Profit for the year and total comprehensive income - - - 6,130,475 6,130,475
Dividends paid - - - (347,550) (347,550)
As at 31 October 2023 and 1 November 2023 2,317 2,347,220 868 46,250,333 48,600,738
Profit for the year and total comprehensive income - - - 3,837,062 3,837,062
Dividends paid - - - (347,550) (347,550)
Purchase of own shares (65 ) - 65 (2,110,500 ) (2,110,500)
As at 31 October 2024 2,252 2,347,220 933 47,629,345 49,979,750
Page 15
Page 16
Company Statement of Changes in Equity
Share Capital Share Premium Capital Redemption Profit and Loss Account Total
£ £ £ £ £
As at 1 November 2022 2,317 13,414,806 868 10,666,397 24,084,388
Profit for the year and total comprehensive income - - - 3,322,985 3,322,985
Dividends paid - - - (347,550) (347,550)
As at 31 October 2023 and 1 November 2023 2,317 13,414,806 868 13,641,832 27,059,823
Profit for the year and total comprehensive income - - - 2,829,451 2,829,451
Dividends paid - - - (347,550) (347,550)
Purchase of own shares (65 ) - 65 (2,110,500 ) (2,110,500)
As at 31 October 2024 2,252 13,414,806 933 14,013,233 27,431,224
Page 16
Page 17
Consolidated Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 8,279,409 2,426,929
Interest paid (2,212 ) (3,906 )
Tax paid (1,287,844 ) (1,952,693 )
Net cash generated from operating activities 6,989,353 470,330
Cash flows from investing activities
Purchase of tangible assets (958,755 ) (1,031,877 )
Proceeds from disposal of tangible assets 4,584 17,625
Interest received 1,089,867 379,085
Net cash generated from/(used in) investing activities 135,696 (635,167 )
Cash flows from financing activities
Purchase/redemption of own shares (2,110,500 ) -
Equity dividends paid (347,550 ) (347,550 )
Net cash used in financing activities (2,458,050 ) (347,550 )
Increase/(decrease) in cash and cash equivalents 4,666,999 (512,387 )
Cash and cash equivalents at beginning of year 2 10,528,972 11,041,359
Cash and cash equivalents at end of year 2 15,195,971 10,528,972
Page 17
Page 18
Notes to the Consolidated Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 3,837,062 6,130,475
Adjustments for:
Tax on profit 1,321,859 1,817,246
Interest expense 2,212 3,906
Interest income (1,089,867 ) (379,085 )
Depreciation of tangible assets 740,182 607,796
Movements in working capital:
Decrease in stocks 818,937 143,918
Decrease/(increase) in trade and other debtors 2,362,028 (5,385,904 )
Increase/(decrease) in trade and other creditors 286,996 (511,423 )
Net cash generated from operations 8,279,409 2,426,929
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 15,195,971 10,528,972
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 10,528,972 4,666,999 15,195,971
Page 18
Page 19
Notes to the Financial Statements
1. General Information
C.W.B.G Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08261788 . 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. Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 October 2024.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
Page 19
Page 20
2.3. Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
2.4. Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The parent company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
  • the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
  • the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
  • the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
  • the requirements of Section 26 Share-based Payment paragraphs 26.18 (b), 26.19 to 26.21 and 26.23;
2.5. 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.
Page 20
Page 21
2.6. 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.
2.7. 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% om written down value
Computer Equipment - 20% on cost
No depreciation is provided on freehold land.
2.8. 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.
Properties rented to another group member are accounted for under property, plant and equipment and applying the cost model in accordance with FRS 102 Section 17.
2.9. 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.
Page 21
Page 22
2.10. 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.
2.11. 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.
2.12. 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 group'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.
2.13. Pensions
The group 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.
2.14. Operating Leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Lease income is recognised in profit or loss on a straight line basis over the lease term.
Page 22
Page 23
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.
4. Other Operating Income
2024 2023
£ £
Rental income 560,684 490,026
Other operating income 1,270 2,135
561,954 492,161
5. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts 49,179 7,531
Operating lease rentals 75,125 68,125
Depreciation of tangible fixed assets 740,182 607,796
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 group and company's financial statements 31,750 29,550
Other Services
Other non-audit services 2,000 2,000
Page 23
Page 24
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
Group
Average number of employees, including directors, during the year was: 248 (2023: 248)
Company
Average number of employees, including directors, during the year was: 2 (2023: 2)
248 248
2 2
9. Directors' remuneration
2024 2023
£ £
Emoluments 53,116 45,384
The number of directors to whom retirement benefits were accruing was as follows:
2024 2023
Money purchase pension schemes 2 2
10. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 1,089,867 379,085
11. Interest Payable and Similar Charges
2024 2023
£ £
Corporation tax interest payable 2,212 3,906
Page 24
Page 25
12. Tax on Profit
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax
UK Corporation Tax 1,238,959 1,738,446
Deferred Tax
Deferred taxation 82,900 78,800
Total tax charge for the period 1,321,859 1,817,246
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 5,158,921 7,947,721
Tax on profit at 25% (UK standard rate) 1,289,730 1,986,931
Goodwill/depreciation not allowed for tax (58,532 ) (60,018 )
Expenses not deductible for tax purposes 7,761 3,166
Capital allowances 84,200 80,500
Short term timing differences (1,300 ) (1,700 )
Difference in tax rates - (191,633 )
Total tax charge for the period 1,321,859 1,817,246
13. Tangible Assets
Group
Land & Property
Freehold Leasehold Investment Properties Plant and Equipment
£ £ £ £
Cost or Valuation
As at 1 November 2023 5,826,504 2,166,374 5,927,723 3,638,628
Additions - 23,305 - 41,202
Disposals - - - (37,772 )
As at 31 October 2024 5,826,504 2,189,679 5,927,723 3,642,058
...CONTINUED
Page 25
Page 26
Depreciation
As at 1 November 2023 521,850 622,573 - 2,484,950
Provided during the period 58,526 43,445 - 294,637
Disposals - - - (37,772 )
As at 31 October 2024 580,376 666,018 - 2,741,815
Net Book Value
As at 31 October 2024 5,246,128 1,523,661 5,927,723 900,243
As at 1 November 2023 5,304,654 1,543,801 5,927,723 1,153,678
Motor Vehicles Total
£ £
Cost or Valuation
As at 1 November 2023 2,246,033 19,805,262
Additions 894,248 958,755
Disposals (45,304 ) (83,076 )
As at 31 October 2024 3,094,977 20,680,941
Depreciation
As at 1 November 2023 1,362,568 4,991,941
Provided during the period 343,574 740,182
Disposals (40,720 ) (78,492 )
As at 31 October 2024 1,665,422 5,653,631
Net Book Value
As at 31 October 2024 1,429,555 15,027,310
As at 1 November 2023 883,465 14,813,321
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 the above is land amounting to £2,900,891 (2023 - £2,900,891) which has not been depreciated.
Property rented to another group member is accounted for under property, plant and equipment and applying the cost model in accordance with FRS 102 Section 17. Had the freehold land and buildings been carried at historical cost (£4,105,616) less depreciation (£1,009,547) the carrying amount would have been £3,096,069.
Page 26
Page 27
Company
Land & Property
Freehold Investment Properties Plant and Equipment Total
£ £ £ £
Cost
As at 1 November 2023 5,448,281 5,037,495 19,603 10,505,379
Additions - - 1,220 1,220
As at 31 October 2024 5,448,281 5,037,495 20,823 10,506,599
Depreciation
As at 1 November 2023 448,222 - 7,062 455,284
Provided during the period 54,922 - 2,594 57,516
As at 31 October 2024 503,144 - 9,656 512,800
Net Book Value
As at 31 October 2024 4,945,137 5,037,495 11,167 9,993,799
As at 1 November 2023 5,000,059 5,037,495 12,541 10,050,095
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 the above is land amounting to £2,702,909 (2023 - £2,702,909) which has not been depreciated.
Property rented to another group member is accounted for under property, plant and equipment and applying the cost model in accordance with FRS 102 Section 17.
14. Investments
Company
Subsidiaries
£
Cost
As at 1 November 2023 13,522,216
As at 31 October 2024 13,522,216
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 13,522,216
As at 1 November 2023 13,522,216
Page 27
Page 28
Investments in subsidiary undertakings as at 31st October 2024 were as follows:
Subsidiary undertaking
Holding
Proportion Held
Nature of business
C&W Berry Limited
Ordinary shares
100%
Builder's merchants
C&W Berry Commercial Finance Limited
Ordinary shares
100%
Finance company
The subsidiary undertakings are included in the consolidated accounts. The registered office and place of business addresses being Wellfield Sawmills, King Street, Leyland, PR25 2LE.
15. Stocks
2024 2023
£ £
Finished goods 4,504,802 5,324,326
Other 15,533 14,946
4,520,335 5,339,272
16. Debtors
Group Company
2024 2023 2024 2023
£ £ £ £
Due within one year
Trade debtors 9,089,810 8,949,352 58,584 112,775
Prepayments and accrued income 1,709,195 1,712,095 8,003 27,922
Other debtors 2,653 2,423 - -
Amount owed by related party 7,517,587 10,017,403 - -
Other taxes and social security 142,761 - - -
Amounts owed by group undertakings - - 1,060,849 3,437,753
18,462,006 20,681,273 1,127,436 3,578,450
17. Creditors: Amounts Falling Due Within One Year
Group Company
2024 2023 2024 2023
£ £ £ £
Trade creditors 1,641,073 1,101,337 25,330 22,571
Corporation tax 88,959 137,844 319,321 49,591
Other taxes and social security - 19,348 103,281 91,089
Other creditors 45,549 21,549 42,049 18,049
Accruals and deferred income 924,291 1,038,922 147,355 163,622
Amounts owed to subsidiaries - - 136 64
2,699,872 2,319,000 637,472 344,986
Page 28
Page 29
18. Deferred Taxation
The provision for deferred tax is made up as follows:
Group Company
2024 2023 2024 2023
£ £ £ £
Accelerated capital allowances 537,300 453,100 4,200 4,500
Other timing differences (11,300) (10,000) - -
526,000 443,100 4,200 4,500
19. Provisions for Liabilities
Group
Deferred Tax Total
£ £
As at 1 November 2023 443,100 443,100
Deferred taxation 82,900 82,900
Balance at 31 October 2024 526,000 526,000
Company
Deferred Tax Total
£ £
As at 1 November 2023 4,500 4,500
Deferred taxation (300 ) (300 )
Balance at 31 October 2024 4,200 4,200
20. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2,252 Ordinary Shares of £ 1 each 2,252 2,317
Shares disposed during the period: £
65 Ordinary Shares of £ 1 each (65)
Page 29
Page 30
21. Capital Commitments
2024 2023
£ £
At the end of the period 118,510 329,931
At the end of the period, the group had the above capital commitments contracted for but not provided in these financial statements.
22. Other Commitments
As lessee
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 3,786,254
4,177,754 4,126,879
As lessor
The total of future minimum lease payments receivable under non-cancellable operating leases are as following:
2024
2023
£
£
Not later than one year
348,724
354,967
Later than one year and not later than five years
661,561
876,401
Later than five years
-
image
-
image
1,010,285
image
1,231,368
image
23. Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group 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.
Page 30
Page 31
24. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 347,550 347,550
25. Reserves
Group
Profit and loss account - This reserve records retained earnings and accumulated losses.
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs.
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company.
Revaluation reserve - This reserve records the value of asset revaluations and fair value movement on assets. In accordance with paragraph 16.4A of FRS 102 the company has elected to account for property rented to other group companies under property, plant and equipment and to apply the cost model in accordance with FRS 102 Section 17. It has further elected to use the fair value of its intra-group investment property as its deemed cost. As a result the gains have been presented within the revaluation reserve.
26. Related Party Disclosures
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.
27. Controlling Parties
The company is controlled by Mr. D. J. Berry.
Page 31