IRIS Accounts Production v25.1.4.42 01586822 Board of Directors Board of Directors 1.2.24 31.1.25 31.1.25 manufacturers and distributors of fitted kitchen and appliances. true false true true false false true false Ordinary 1.00000 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REGISTERED NUMBER: 01586822 (England and Wales)













Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 January 2025

for

Roundel Manufacturing Limited

Roundel Manufacturing Limited (Registered number: 01586822)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 8

Statement of Income and Retained Earnings 12

Balance Sheet 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


Roundel Manufacturing Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: T L Oman
M L Cole



SECRETARY: M L Cole



REGISTERED OFFICE: 5-8 Sedling Road
Wear Industrial Estate
Washington
Tyne and Wear
NE38 9BZ



REGISTERED NUMBER: 01586822 (England and Wales)



SENIOR STATUTORY AUDITOR: Martin Hobson BA (Hons), FCCA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Roundel Manufacturing Limited (Registered number: 01586822)

Strategic Report
for the Year Ended 31 January 2025

The directors present their strategic report for the year ended 31 January 2025.

PRINCIPAL ACTIVITIES
The principal activities of Roundel Manufacturing Limited (RML) are manufacturing, distributing and installing fitted kitchen, bedroom, bathroom and home office furniture and appliances to the UK house building industry and retail customers.

BUSINESS MODEL
The company operates as a UK-based furniture manufacturer, with a primary focus on kitchen furniture for the private residential development sector. In addition to manufacturing, the company also distributes and installs kitchen appliances and supplies and installs solid work surface solutions, providing a comprehensive, turnkey service to its clients.

Our vertically integrated model enables us to control the entire value chain from design and production through to delivery and installation ensuring consistency in quality, cost management, and service levels. This integrated approach, combined with a strong focus on best-in-class products and sector-leading customer service, positions the company as a trusted partner to developers across the UK.

BUSINESS REVIEW AND FUTURE DEVELOPMENTS
The company is a premium supplier to UK house builders of bespoke kitchen, bedroom, bathroom and home study furniture. Roundel has a reputation for delivering a high quality product with first class service.

The company generated turnover of £30.2 million for the financial year ended 31 January 2025, compared to £36.2 million in the prior year. Despite the reduction in revenue, the business delivered a stronger operating performance due to improved cost control, operational discipline, and proactive margin management.

Gross profit margin improved to 31%, up from 28%, while profit before tax increased to 2.0% of turnover, from 1.8% in the previous year. This improved profitability reflects the continued focus on strategic sourcing, efficient labour planning, and disciplined project execution.


The key financial indicators are shown below.

2025 2024 Change
£ £ %

Turnover 30,234,948 36,171,633 -16.4
Operating profit/(loss) 746,340 769,419 -3.0
Profit/(Loss) after tax 462,347 530,188 -12.8
Shareholders' funds 9,986,047 9,904,700 -0.8



STRATEGY
The company has, over many years, developed deep relationships with key customers; however, to minimise risk to the business, customer concentration is kept meaningful with the development of customer diversification. The company's results continue to be driven by its contract business on account of its size.

To grow market share and profitability the company seeks to strengthen customer relationships through investment in innovation, resources, and quality, extend its share of a customer's total spend, and engage its people in meaningful, diverse, and interesting roles to find new ways to work to improve efficiency and productivity. Significant investment has been made to increase resources and strengthen the company's service function, a key factor in influencing customer retention and growing new business.

KEY PERFORMANCE INDICATORS
The company uses a number of metrics to evaluate performance against budgeted and historical trends, both from a profitability, sales, and service point of view. These are used to communicate strategic and financial progress to our employees and to the Board.


Roundel Manufacturing Limited (Registered number: 01586822)

Strategic Report
for the Year Ended 31 January 2025

These measures are monitored monthly against benchmarks, prior year actuals and current year targets and revised annually as part of our annual budgeting process. Financial measures include sales, gross and net profit.

FUTURE DEVELOPMENTS
Looking ahead, the UK private development market is expected to experience growth in both the medium and long term, supported by ongoing housing demand and evolving consumer preferences for modern, high-quality interiors.

The company is well-positioned to capitalise on this growth through:
- Strengthening relationships with existing developer clients
- Expanding into new geographic markets within the UK
- Continuing to invest in process automation, product development, and service enhancement
- Increasing market share by demonstrating consistent value, service excellence, and product innovation

Our strong operational platform, industry reputation, and strategic focus will enable the company to grow sustainably while continuing to improve profitability.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties facing the business include:

- Market Conditions: The private development sector is cyclical and influenced by broader economic trends, including interest rates, housing demand, and government policy on planning and housing.
- Supply Chain Disruption: Volatility in the global supply chain, including material price inflation and lead time extensions, remains a risk to cost and service continuity.
- Labour Availability: Skills shortages in both manufacturing and installation trades could impact operational delivery timelines and costs.
- Regulatory Compliance: Changes to building regulations or trade requirements post-Brexit continue to require close monitoring and adaptation.

The company actively manages these risks through strategic supplier relationships, forward purchasing where appropriate, workforce planning, and continual regulatory engagement.

SECTION 172(1) STATEMENT
In accordance with Section 172(1) of the Companies Act 2006, the Directors confirm that they have had regard to the matters set out in Section 172(1)(a) to (f) in performing their duty to promote the success of the company for the benefit of its members as a whole.

The Directors consider the long-term consequences of their decisions and are mindful of the interests of key stakeholders including employees, customers, suppliers, and the communities in which the company operates. Key considerations during the financial year included:

- Employees: Ensuring a safe, inclusive, and rewarding work environment, supported by investments in training and communication.
- Customers: Maintaining our reputation for outstanding service and quality through ongoing investment in systems, service processes, and feedback loops.
- Suppliers: Building sustainable partnerships and ensuring ethical sourcing and continuity of supply in volatile markets.
- Long-Term Strategy: Navigating short-term economic headwinds while positioning the business for long-term growth and increased market share.

Regular management meetings, performance reviews, and stakeholder feedback are core to our decision-making processes. This approach ensures alignment between strategic priorities and stakeholder expectations.


Roundel Manufacturing Limited (Registered number: 01586822)

Strategic Report
for the Year Ended 31 January 2025

BOARD DECISIONS AND THEIR IMPACT ON STAKEHOLDERS
The table below sets out certain decisions taken by the Board during the year and how stakeholder views' were taken into account


Stakeholder View Board Decision


People - Our people are the driving force behind our
business, and we need to take care of them so that they
can enjoy longer, healthier, happier lives. We have seen
increasing pressure on the capacity and resilience of our
workforce from the cost of living crisis and the level of
change that we are asking them to undertake to achieve
our strategy.
The Board regularly receives updates on issues relating
to the company's people. We have recognised the impact
of the rising cost of living, particularly on our frontline
people, by taking action on pay to help ease the cost of
living and by launching healthcare benefits for
employees. Roundel pay their employees a real living
wage and are accredited members of the Living Wage
Foundation.


Customer, People and Suppliers - Our sales The board continue to receive feedback from the
and service team has national coverage and hold national teams and continue to invest and enable
regular catchup sessions with all customers. Key this improvement in alignment with customer
customer updates and initiatives are communicated sustainability goals. The board also continues to
during these sessions. We also have a invest in innovation to satisfy the increasing demand
comprehensive reports system that allows order for a design led kitchen supplier to the housebuilder
level updates to each of our customers. market space.

ON BEHALF OF THE BOARD:





T L Oman - Director


30 July 2025

Roundel Manufacturing Limited (Registered number: 01586822)

Report of the Directors
for the Year Ended 31 January 2025

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2025 will be £ 381,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

T L Oman
M L Cole

Other changes in directors holding office are as follows:

L Oman , G K Oman , M E Oman , G Parkin and K Morton ceased to be directors after 31 January 2025 but prior to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT
The following information, which would otherwise be disclosed in the directors' report, is instead disclosed in the strategic report, as permitted by s414C(11) of the Companies Act 2006:

- principal risks and uncertainties;
- future developments;

DISABLED EMPLOYEES
For job applicants with a disability, the Company will have regard to its duty to make reasonable adjustments to work provisions, criteria or practices or to physical features of work premises or to provide auxiliary aids or services in order to ensure that the disabled person is not placed at a substantial disadvantage in comparison with persons who are not disabled.

The Company will regularly monitor the effects of selection decisions and personnel practices and procedures in order to assess whether equal opportunity is being achieved. This will also involve considering any possible indirectly discriminatory effects of its standard working practices. If changes are required, the Company will implement them. The Company will also make reasonable adjustments to its standard working practices to overcome substantial disadvantages caused by disability.

All contracts have the following clause in them:

Disability:
Should you have or develop a condition that could be described as a disability you have a duty to inform us so that we may undertake any reasonable adjustment necessary. Such information will be treated in strictest confidence and you will not be subjected to any form of discrimination because of your disclosure.

EMPLOYEE ENGAGEMENT
The company continues to place strong emphasis on employee engagement and is continually looking at ways to improve as part of leadership strategy. Employee engagement is crucial as part of the company's mission statement

"Our mission is to exceed the expectations of our customers in quality, service, and value through continuous improvement and innovation".

To achieve this, everything we do is based around our five core values:

1. Integrity - Have pride in everything we do and build trust through honesty, fairness, and professionalism.
2. Teamwork - Work together for the common good of the company's mission, our colleagues, and our customers
3. Stewardship - Use resources effectively to positively impact ourselves and our customers and to promote sustainable progress
4. Open communication - Promote an atmosphere where fairness, diversity, and new ideas can thrive
5. Determination - pursue our goals, especially when faced with adversity


Roundel Manufacturing Limited (Registered number: 01586822)

Report of the Directors
for the Year Ended 31 January 2025

STREAMLINED ENERGY AND CARBON REPORTING


2025 2024

UK energy use (kWh) 16,779,120 11,386,813


tCO2e emissions - gas or fuel for transport 798 1,210
tCO2e emissions - electricity 263 300
tCO2e total 1,061 1,510


Intensity ratio

Total kitchen units produced 92,242 110,102
Carbon intensity ratio (kgCO2e/units) 11.50 13.70

Intensity ratio
Due to the nature of the business, the most applicable normalisation parameter relating to carbon emissions is "units of kitchens produced". Therefore, the intensity ratio for Roundel is tonnes of CO2e per unit kitchen.

Methodology
Methodology used in this report follows best practice as described in HM Government Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance (March 2019).

All emissions conversion factors are taken from Government conversion factors for company reporting of greenhouse gas emissions. Scope 1 and Scope 2 consumption data (gas and electricity) are taken from metered data sources or information from invoices (where necessary). Scope 1 and 3 transport data is taken from internal accounting sources. Company fleet classed as scope 1 emissions as defined in HM Government Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance (March 2019).

Energy Efficiency Action Plan
The below energy efficiency measures have been undertaken:
- Production working patterns amended to reflect forecasted demand, lowering energy consumption
- Continued investment in incineration of wood waste to generate heat removing the need for gas heating systems and reducing waste to landfill.
- Focus on asset management to reduce energy consumption out of hours.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


Roundel Manufacturing Limited (Registered number: 01586822)

Report of the Directors
for the Year Ended 31 January 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





T L Oman - Director


30 July 2025

Report of the Independent Auditors to the Members of
Roundel Manufacturing Limited

Opinion
We have audited the financial statements of Roundel Manufacturing Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Roundel Manufacturing Limited


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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on pages six and seven, 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 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.

Report of the Independent Auditors to the Members of
Roundel Manufacturing Limited


Auditors' 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 a Report of the Auditors 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

- Understanding the key legal and regulatory frameworks that are applicable to the Company. We communicated
identified laws and regulations throughout the audit team and remained alert to any indications of
non-compliance throughout the audit. We determined the most significant of these to be financial reporting
legislation, taxation legislation, health & safety and employment law.
- Enquiry of directors and management as to policies and procedures to ensure compliance and any known
instances of non-compliance,
- Review of board minutes and correspondence with regulators,
- Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these
risks are managed,
- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial
statements. These key areas of uncertainty are disclosed in the accounting policies,
- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Roundel Manufacturing Limited


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 we are required to state to them in a Report of the Auditors 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.




Martin Hobson BA (Hons), FCCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

30 July 2025

Roundel Manufacturing Limited (Registered number: 01586822)

Statement of Income and
Retained Earnings
for the Year Ended 31 January 2025

2025 2024
Notes £    £   

TURNOVER 30,234,948 36,171,663

Cost of sales (21,013,662 ) (25,894,177 )
GROSS PROFIT 9,221,286 10,277,486

Distribution costs (1,885,443 ) (2,614,443 )
Administrative expenses (6,589,503 ) (6,894,756 )
746,340 768,287

Other operating income - 1,132
OPERATING PROFIT 4 746,340 769,419

Interest receivable and similar income 18,542 1,321
764,882 770,740

Interest payable and similar expenses 5 (146,719 ) (115,043 )
PROFIT BEFORE TAXATION 618,163 655,697

Tax on profit 6 (155,816 ) (125,509 )
PROFIT FOR THE FINANCIAL YEAR 462,347 530,188

Retained earnings at beginning of year 9,903,600 9,522,679

Dividends 7 (381,000 ) (149,267 )

RETAINED EARNINGS AT END OF
YEAR

9,984,947

9,903,600

Roundel Manufacturing Limited (Registered number: 01586822)

Balance Sheet
31 January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 7,841,193 7,892,330

CURRENT ASSETS
Stocks 9 1,580,282 1,660,260
Debtors 10 5,837,378 6,796,150
Cash at bank and in hand 1,233,733 925,226
8,651,393 9,381,636
CREDITORS
Amounts falling due within one year 11 4,281,646 4,881,801
NET CURRENT ASSETS 4,369,747 4,499,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,210,940

12,392,165

CREDITORS
Amounts falling due after more than one
year

12

(1,160,006

)

(1,595,774

)

PROVISIONS FOR LIABILITIES 15 (1,064,887 ) (891,691 )
NET ASSETS 9,986,047 9,904,700

CAPITAL AND RESERVES
Called up share capital 16 1,100 1,100
Retained earnings 9,984,947 9,903,600
SHAREHOLDERS' FUNDS 9,986,047 9,904,700

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2025 and were signed on its behalf by:




T L Oman - Director



M L Cole - Director


Roundel Manufacturing Limited (Registered number: 01586822)

Cash Flow Statement
for the Year Ended 31 January 2025

2025 2024
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,789,944 1,584,889
Interest element of hire purchase payments
paid

(146,719

)

(115,043

)
Tax credit received 82,309 -
Net cash from operating activities 1,725,534 1,469,846

Cash flows from investing activities
Purchase of tangible fixed assets (649,710 ) (2,163,305 )
Sale of tangible fixed assets 18,400 -
Interest received 18,542 1,321
Net cash from investing activities (612,768 ) (2,161,984 )

Cash flows from financing activities
Hire purchase -new tangible fixed assets 164,790 2,508,695
Capital repayments in year (665,917 ) (826,389 )
Amount advanced to directors 77,868 -
Equity dividends paid (381,000 ) (149,267 )
Net cash from financing activities (804,259 ) 1,533,039

Increase in cash and cash equivalents 308,507 840,901
Cash and cash equivalents at beginning of
year

2

925,226

84,325

Cash and cash equivalents at end of year 2 1,233,733 925,226

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Cash Flow Statement
for the Year Ended 31 January 2025

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2025 2024
£    £   
Profit before taxation 618,163 655,697
Depreciation charges 697,608 537,615
Profit on disposal of fixed assets (15,154 ) -
Finance costs 146,719 115,043
Finance income (18,542 ) (1,321 )
1,428,794 1,307,034
Decrease in stocks 79,978 748,198
Decrease in trade and other debtors 893,843 2,089,120
Decrease in trade and other creditors (612,671 ) (2,559,463 )
Cash generated from operations 1,789,944 1,584,889

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2025
31.1.25 1.2.24
£    £   
Cash and cash equivalents 1,233,733 925,226
Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 925,226 84,325


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.2.24 Cash flow changes At 31.1.25
£    £    £    £   
Net cash
Cash at bank
and in hand 925,226 308,507 1,233,733
925,226 308,507 1,233,733
Debt
Finance leases (2,236,260 ) 665,917 (164,790 ) (1,735,133 )
(2,236,260 ) 665,917 (164,790 ) (1,735,133 )
Total (1,311,034 ) 974,424 (164,790 ) (501,400 )

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Roundel Manufacturing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Significant judgements and estimates
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 (apart from those involving 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.

Debtors provision - the amounts owed from customers are reviewed by management on a monthly basis to consider if there are any bad or doubtful debts. Provision is then made within the financial statements.

Turnover
Turnover represents income from the design, manufacture, supply and installation of bespoke kitchen, bedroom, bathroom and home study furniture. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Income recognition
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 goods have been delivered to the customer.

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives, using the straight-line method. The rates applicable are:

-Freehold property and long leasehold50 years
-Assets under constructionNot depreciated
-Plant and machinery10 to 15 years
-Fixtures and fittings3 to 25 years
-Motor vehicles5 to 10 years

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost includes all costs incurred in bringing each product to its present location and condition, as follows:

Raw materials, consumables and goods for resale: purchase cost on a first-in, first-out basis.

Work in progress and finished goods: cost of direct materials and labour plus attributable overheads based on a normal level of activity.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates two defined contribution schemes covering the directors as well as a defined contribution scheme covering a number of permanent employees. Contributions payable to the company's pension schemes are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2025 2024
£    £   
Wages and salaries 7,272,499 8,576,976
Social security costs 757,090 856,558
Other pension costs 199,986 226,600
8,229,575 9,660,134

The average number of employees during the year was as follows:
2025 2024

Production staff 85 116
Transport staff 41 39
Administrative staff 94 103
220 258

The directors are considered to be the key management personnel of the company.

2025 2024
£    £   
Directors' remuneration 492,116 692,578
Directors' pension contributions to money purchase schemes 15,577 22,618

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 4

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

3. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
2025 2024
£    £   
Emoluments etc 136,629 129,826

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025 2024
£    £   
Hire of plant and machinery 33,474 45,586
Depreciation - owned assets 339,124 332,573
Depreciation - assets on hire purchase contracts 358,484 201,706
Profit on disposal of fixed assets (15,154 ) -
Auditors' remuneration 41,270 37,410
Operating lease rentals (rent) 288,166 259,500
Operating lease rentals (other) 4,956 4,485

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
£    £   
Hire purchase 146,719 115,043

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£    £   
Current tax:
R&D refund (17,380 ) (127,643 )

Deferred tax 173,196 253,152
Tax on profit 155,816 125,509

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025 2024
£    £   
Profit before tax 618,163 655,697
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 25%)

154,541

163,924

Effects of:
Expenses not deductible for tax purposes 18,655 1,593
Depreciation in excess of capital allowances - 87,635
R & D enhanced expenditure (17,380 ) (127,643 )
Total tax charge 155,816 125,509

7. DIVIDENDS
2025 2024
£    £   
Interim 381,000 149,267

8. TANGIBLE FIXED ASSETS
Assets
Freehold Long under
property leasehold construction
£    £    £   
COST
At 1 February 2024 471,452 2,253,960 1,722,879
Additions - - 254,169
Disposals - - -
Reclassification/transfer - - (1,902,090 )
At 31 January 2025 471,452 2,253,960 74,958
DEPRECIATION
At 1 February 2024 69,851 422,498 -
Charge for year 9,429 45,234 -
Eliminated on disposal - - -
At 31 January 2025 79,280 467,732 -
NET BOOK VALUE
At 31 January 2025 392,172 1,786,228 74,958
At 31 January 2024 401,601 1,831,462 1,722,879

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2024 6,471,009 2,361,982 2,007,080 15,288,362
Additions 57,090 128,260 210,191 649,710
Disposals - - (357,981 ) (357,981 )
Reclassification/transfer 1,848,576 53,514 - -
At 31 January 2025 8,376,675 2,543,756 1,859,290 15,580,091
DEPRECIATION
At 1 February 2024 4,262,475 1,597,086 1,044,122 7,396,032
Charge for year 311,975 141,554 189,416 697,608
Eliminated on disposal - - (354,742 ) (354,742 )
At 31 January 2025 4,574,450 1,738,640 878,796 7,738,898
NET BOOK VALUE
At 31 January 2025 3,802,225 805,116 980,494 7,841,193
At 31 January 2024 2,208,534 764,896 962,958 7,892,330

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Assets Fixtures
under Plant and and Motor
construction machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2024 1,360,979 2,001,728 572,027 970,077 4,904,811
Additions - - - 183,600 183,600
Reclassification/transfer (1,360,979 ) 1,360,979 - - -
At 31 January 2025 - 3,362,707 572,027 1,153,677 5,088,411
DEPRECIATION
At 1 February 2024 - 806,667 21,044 156,155 983,866
Charge for year - 195,385 17,708 145,391 358,484
At 31 January 2025 - 1,002,052 38,752 301,546 1,342,350
NET BOOK VALUE
At 31 January 2025 - 2,360,655 533,275 852,131 3,746,061
At 31 January 2024 1,360,979 1,195,061 550,983 813,922 3,920,945

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

9. STOCKS
2025 2024
£    £   
Raw materials 952,607 1,123,825
Work in progress 355,955 221,475
Finished goods 271,720 314,960
1,580,282 1,660,260

10. DEBTORS
2025 2024
£    £   
Amounts falling due within one year:
Trade debtors 3,287,911 4,022,999
Other debtors 328,279 469,294
Corporation tax debtor 141,897 206,826
Prepayments and accrued income 2,020,147 1,986,072
5,778,234 6,685,191

Amounts falling due after more than one year:
Trade debtors 59,144 110,959

Aggregate amounts 5,837,378 6,796,150

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts (see note 13) 575,127 640,486
Payments on account 182,242 219,743
Trade creditors 2,676,047 2,835,964
Taxation and social security 226,880 227,071
Other creditors 42,515 570,542
Directors' current accounts 77,868 -
Accruals and deferred income 500,967 387,995
4,281,646 4,881,801

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Hire purchase contracts (see note 13) 1,160,006 1,595,774

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 575,127 640,486
Between one and five years 1,160,006 1,595,774
1,735,133 2,236,260

Non-cancellable operating leases
2025 2024
£    £   
Within one year 341,985 263,985
Between one and five years 1,077,721 1,051,456
In more than five years - 43,250
1,419,706 1,358,691

14. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts 1,735,133 2,236,260
Invoice financing creditor 1,394 537,826
1,736,527 2,774,086

Hire purchase contracts are secured on the assets to which they relate.

The invoice financing creditor is secured by a fixed and floating charge over the assets of the company.

15. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax
Accelerated capital allowances 824,615 651,419
Other timing differences 240,272 240,272
1,064,887 891,691

Deferred
tax
£   
Balance at 1 February 2024 891,691
Accelerated capital allowances 173,196
Balance at 31 January 2025 1,064,887

Roundel Manufacturing Limited (Registered number: 01586822)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
1,100 Ordinary £1 1,100 1,100

17. CAPITAL COMMITMENTS
2025 2024
£    £   
Contracted but not provided for in the
financial statements - 183,100

18. RELATED PARTY DISCLOSURES

Key management personnel of the entity
2025 2024
£    £   
Amounts owed to directors 77,868 -

Other related parties
2025 2024
£    £   
Purchases (rent) 288,166 259,500

19. ULTIMATE CONTROLLING PARTY

The company is not under the control of any one individual.