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Company No: 11356902 (England and Wales)

DUNHAMS WASHROOM SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

DUNHAMS WASHROOM SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

DUNHAMS WASHROOM SYSTEMS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
DUNHAMS WASHROOM SYSTEMS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 210,125 271,625
Tangible assets 4 618,462 503,827
828,587 775,452
Current assets
Stocks 471,087 343,587
Debtors 5 369,796 436,449
Cash at bank and in hand 334,470 1,054,712
1,175,353 1,834,748
Creditors: amounts falling due within one year 6 ( 1,179,077) ( 1,094,867)
Net current (liabilities)/assets (3,724) 739,881
Total assets less current liabilities 824,863 1,515,333
Creditors: amounts falling due after more than one year 7 0 ( 2,699)
Provision for liabilities 8, 9 ( 20,000) 0
Net assets 804,863 1,512,634
Capital and reserves
Called-up share capital 101 101
Share premium account 619,901 619,901
Profit and loss account 184,861 892,632
Total shareholder's funds 804,863 1,512,634

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dunhams Washroom Systems Limited (registered number: 11356902) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Brendon Dunham
Director

30 May 2025

DUNHAMS WASHROOM SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
DUNHAMS WASHROOM SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dunhams Washroom Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Granary School Lane, Neatishead, Norwich, NR12 8BU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 28 23

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 615,000 615,000
At 31 December 2024 615,000 615,000
Accumulated amortisation
At 01 January 2024 343,375 343,375
Charge for the financial year 61,500 61,500
At 31 December 2024 404,875 404,875
Net book value
At 31 December 2024 210,125 210,125
At 31 December 2023 271,625 271,625

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2024 179,545 566,843 186,355 22,066 76,534 1,031,343
Additions 27,860 174,915 40,232 0 0 243,007
Disposals 0 ( 38,427) 0 ( 7,174) ( 53,044) ( 98,645)
At 31 December 2024 207,405 703,331 226,587 14,892 23,490 1,175,705
Accumulated depreciation
At 01 January 2024 17,954 351,046 87,254 15,597 55,665 527,516
Charge for the financial year 21,861 55,090 25,614 1,079 2,301 105,945
Disposals 0 ( 29,823) 0 ( 5,019) ( 41,376) ( 76,218)
At 31 December 2024 39,815 376,313 112,868 11,657 16,590 557,243
Net book value
At 31 December 2024 167,590 327,018 113,719 3,235 6,900 618,462
At 31 December 2023 161,591 215,797 99,101 6,469 20,869 503,827
Leased assets included above:
Net book value
At 31 December 2024 0 37,378 35,690 0 0 73,069
At 31 December 2023 0 49,838 47,587 0 0 97,425

5. Debtors

2024 2023
£ £
Trade debtors 289,351 315,061
Amounts owed by directors 0 67,189
Prepayments and accrued income 67,280 49,812
Other debtors 13,165 4,387
369,796 436,449

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 265,146 221,573
Amounts owed to Parent undertakings 337,399 0
Amounts owed to directors 0 319,831
Accruals and deferred income 249,054 186,222
Deferred tax liability 97,937 65,892
Taxation and social security 217,960 263,383
Obligations under finance leases and hire purchase contracts 2,699 27,122
Other creditors 8,882 10,844
1,179,077 1,094,867

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 2,699

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2024 2023
£ £
Other provisions 20,000 0

Provision is made for any property dilapidation and other end of lease commitment when the obligation has been identified and an estimate of the cost thereof has been made with reasonable accuracy.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 65,892) ( 67,613)
(Charged)/credited to the Income Statement ( 32,045) 1,721
At the end of financial year ( 97,937) ( 65,892)

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 0 8
Other pensions commitments not shown in the Balance Sheet 9,519 9,912
9,519 9,920

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by directors 0 (67,189)

Where appropriate, interest has been charged on the overdrawn balances at the official rate. The loans are repayable on demand and have been cleared after the year end.

Other related party transactions

2024 2023
£ £
Amount owed to Parent undertakings 337,339 0

12. Ultimate controlling party

Parent Company:

Greycott Group Ltd
The Granary School Road, Neatishead, Norwich, England, NR12 8BU