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REGISTERED NUMBER: 02098515 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2024

for

Access Platform Sales Limited

Access Platform Sales Limited (Registered number: 02098515)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Access Platform Sales Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: S Paver
C W Banks
A D Jennings
K B J Shadbolt
S R Couling
Ms H L Treggalles
J I Daintith





REGISTERED OFFICE: Leewood Business Park
Upton
Huntingdon
Cambridgeshire
PE28 5YQ





REGISTERED NUMBER: 02098515 (England and Wales)





AUDITORS: D.R.E. & Co. (Audit) Limited
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

Access Platform Sales Limited (Registered number: 02098515)

Strategic Report
for the Year Ended 31 December 2024


The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
2024 suffered from the start of the demise of our relationship with LGMG. The increased competition from other Chinese manufacturers and the resulting reduction in average sales prices meant that their products were becoming increasingly difficult to sell at sensible margins. Our dealership agreement with them has now been terminated. In addition, we experienced a slowdown in the market generally and most other product offerings also showed a reduction on the 2023 numbers. Hinowa continues to be a significant contributor to the company's performance, representing 39% of our turnover (33% in 2023).

In total turnover fell by 19% to £28 Million however we managed to maintain margins at 14.6%.

The newly created parts operation continued to preform well, showing an increase in turnover of 42% and a significant contributor to the overall profitability of the company.

The termination of the LGMG relationship has had a very positive impact on our cashflow management. Inventory levels fell by £4.8 million to £4.4 million and trade creditors fell by £4.2 million to a more manageable £2 million. At year end we were beginning to see the impact of these factors on our bank borrowings and interest charges which puts is in a much stronger financial position going into 2025.

We have decided to make provision for an old outstanding debt in last years accounts which had an impact of £57K.

The final result showed a PBIT of £747K compared to £1.5 million in 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
The company faces a range of risks and uncertainties as part of its day to day operations. Significant risk factors identified include:

- Potential changes in distribution policy by principal suppliers.

In order to combat this threat, the company is continuing to develop closer relationships with manufacturers for whom distribution agreements are already in place as well as seeking new opportunities.

The company's principal financial assets are stock, bank balances and cash, trade and other receivables, and investments. The company's credit risk is primarily attributable to its trade receivables. The amounts presented in the accounts are net of allowances for doubtful receivables.

The company has no significant concentration of credit risk, with exposure spread over a large number of customers.

In order to maintain liquidity and to ensure that sufficient funds are available for ongoing operations and future developments, the company continues to use an invoice discounting facility with BNP Commercial Finance.

ON BEHALF OF THE BOARD:





A D Jennings - Director


31 July 2025

Access Platform Sales Limited (Registered number: 02098515)

Report of the Directors
for the Year Ended 31 December 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the sale of hydraulic access platforms and materials handling equipment and associated support services.

DIVIDENDS
Interim dividends were paid on both the ordinary A and B £1 shares on the following dates:

£25 - 9th April 2024
No final dividend will be paid.

The total distributions of dividends for the year ended 31 December 2024 are £250,000 (2023 £250,000).

FUTURE DEVELOPMENTS
Our main focus going into 2025 is to replace LGMG with other distribution agreements and to focus increased energy on growing our parts and service operations.

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

S Paver
C W Banks
A D Jennings
K B J Shadbolt
S R Couling
Ms H L Treggalles
J I Daintith

Other changes in directors holding office are as follows:

D W Leyshon - resigned 23 December 2024

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;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Access Platform Sales Limited (Registered number: 02098515)

Report of the Directors
for the Year Ended 31 December 2024


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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, D.R.E. & Co. (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A D Jennings - Director


31 July 2025

Report of the Independent Auditors to the Shareholders of
Access Platform Sales Limited


Opinion
We have audited the financial statements of Access Platform Sales Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 December 2024 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 Shareholders of
Access Platform Sales 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 page three, 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 Shareholders of
Access Platform Sales 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:

-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other
management, and from our commercial knowledge and experience of the client's operating sector;

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment, environmental and health and safety legislation;

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and

-reviewing the client's system notes and internal controls.

To address the risk of fraud through management bias and override of controls, we:

-performed analytical procedures to identify any unusual or unexpected relationships;

-tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias;

-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation;

-enquiring of management as to actual and potential litigation and claims

- reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.


Report of the Independent Auditors to the Shareholders of
Access Platform Sales Limited

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities 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.

Use of our report
This report is made solely to the company's shareholders, 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 shareholders 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 shareholders as a body, for our audit work, for this report, or for the opinions we have formed.




Aled Davies F.C.C.A (Senior Statutory Auditor)
for and on behalf of D.R.E. & Co. (Audit) Limited
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

31 July 2025

Access Platform Sales Limited (Registered number: 02098515)

Statement of Comprehensive
Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   

TURNOVER 3 28,004,043 34,437,023

Cost of sales 23,940,674 29,368,983
GROSS PROFIT 4,063,369 5,068,040

Distribution costs 1,766,617 1,851,703
Administrative expenses 1,549,119 1,726,873
3,315,736 3,578,576
OPERATING PROFIT 5 747,633 1,489,464

Interest receivable and similar income - 7,299
747,633 1,496,763

Interest payable and similar expenses 6 459,982 434,931
PROFIT BEFORE TAXATION 287,651 1,061,832

Tax on profit 7 83,550 276,733
PROFIT FOR THE FINANCIAL YEAR 204,101 785,099

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

204,101

785,099

Access Platform Sales Limited (Registered number: 02098515)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 868,996 1,005,513
868,996 1,005,513

CURRENT ASSETS
Stocks 11 4,375,366 9,245,558
Debtors 12 6,402,430 6,931,132
Cash at bank and in hand 352,893 377,258
11,130,689 16,553,948
CREDITORS
Amounts falling due within one year 13 8,091,655 13,506,651
NET CURRENT ASSETS 3,039,034 3,047,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,908,030

4,052,810

CREDITORS
Amounts falling due after more than one
year

14

-

(44,559

)

PROVISIONS FOR LIABILITIES 18 (174,983 ) (229,305 )
NET ASSETS 3,733,047 3,778,946

CAPITAL AND RESERVES
Called up share capital 19 10,000 10,000
Capital redemption reserve 20 50 50
Retained earnings 20 3,722,997 3,768,896
SHAREHOLDERS' FUNDS 3,733,047 3,778,946

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2025 and were signed on its behalf by:





A D Jennings - Director


Access Platform Sales Limited (Registered number: 02098515)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2023 10,000 3,233,797 50 3,243,847

Changes in equity
Dividends - (250,000 ) - (250,000 )
Total comprehensive income - 785,099 - 785,099
Balance at 31 December 2023 10,000 3,768,896 50 3,778,946

Changes in equity
Dividends - (250,000 ) - (250,000 )
Total comprehensive income - 204,101 - 204,101
Balance at 31 December 2024 10,000 3,722,997 50 3,733,047

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Access Platform Sales 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.

The presentation currency of the financial statements is Pound Sterling (£), rounded to the nearest £1.

The financial statements are for the individual entity only.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption 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.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

The company makes estimates of the recoverable value of trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

The company makes an estimate of the warranty provision required. When assessing the provision management consider factors including the previous history if claims and current sales which are eligible.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue Recognition
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 33% on cost and 10% on cost
Plant and machinery - 33% on cost, 25% on cost, 20% on cost, 15% on cost, 12.5% on cost and Straight line over 6 years
Fixtures and fittings - 50% on cost and 33% on cost
Motor vehicles - 25% on cost, 20% on cost and 12.5% on cost

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is valued on the first in first out basis.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs, and then subsequently measured at amortised cost. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the society transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the assets has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including creditors and loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities are derecognised when the society's contractual obligations expire or are discharged or cancelled.

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.

Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


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 profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.12.24 31.12.23
£    £   
Sale of goods 26,951,462 33,315,040
Rendering of services 1,052,581 1,121,983
28,004,043 34,437,023

4. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 1,706,776 2,040,201
Social security costs 208,963 235,582
Other pension costs 84,181 86,778
1,999,920 2,362,561

The average number of employees during the year was as follows:
31.12.24 31.12.23

Directors 8 8
Administration 4 4
Production and sales 26 26
38 38

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. EMPLOYEES AND DIRECTORS - continued

31.12.24 31.12.23
£    £   
Directors' remuneration 639,419 751,367
Directors' pension contributions to money purchase schemes 34,597 36,214

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

Money purchase schemes 7 7

Information regarding the highest paid director is as follows:
31.12.24 31.12.23
£    £   
Emoluments etc 138,736 170,087
Pension contributions to money purchase schemes 8,569 4,498

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

5. OPERATING PROFIT

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

31.12.24 31.12.23
£    £   
Hire of plant and machinery - 3,350
Depreciation - owned assets 262,395 254,515
Depreciation - assets on hire purchase contracts 84,872 93,526
Profit on disposal of fixed assets (21,884 ) (48,929 )
Auditors' remuneration 8,500 12,000
Auditors' remuneration for non audit work - 2,660

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Bank interest 372,131 365,750
Provision for interest 71,948 50,000
Interest payable 2,059 3,435
Hire purchase 13,844 15,746
459,982 434,931

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 137,872 337,836

Deferred tax (54,322 ) (61,103 )
Tax on profit 83,550 276,733

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:

31.12.24 31.12.23
£    £   
Profit before tax 287,651 1,061,832
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 23.520%)

71,913

249,743

Effects of:
Expenses not deductible for tax purposes 17,987 11,750
Depreciation in excess of capital allowances 47,722 76,463
Group relief - (236 )
Capital gain 250 116
Deferred tax (54,322 ) (61,103 )
Total tax charge 83,550 276,733

8. DIVIDENDS
31.12.24 31.12.23
£    £   
Ordinary A shares of £1 each
Interim 127,500 127,500
Ordinary B shares of £1 each
Interim 122,500 122,500
250,000 250,000

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


9. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 12,294 30,000 42,294
AMORTISATION
At 1 January 2024
and 31 December 2024 12,294 30,000 42,294
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 - - -

10. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 194,018 1,345,825 30,177 594,147 2,164,167
Additions - 62,178 - 228,705 290,883
Disposals - (97,399 ) (15,243 ) (88,400 ) (201,042 )
At 31 December 2024 194,018 1,310,604 14,934 734,452 2,254,008
DEPRECIATION
At 1 January 2024 94,652 813,860 24,975 225,167 1,158,654
Charge for year 19,402 210,100 5,202 112,563 347,267
Eliminated on disposal - (56,626 ) (15,243 ) (49,040 ) (120,909 )
At 31 December 2024 114,054 967,334 14,934 288,690 1,385,012
NET BOOK VALUE
At 31 December 2024 79,964 343,270 - 445,762 868,996
At 31 December 2023 99,366 531,965 5,202 368,980 1,005,513

Fixed assets, included in the above, which are held under hire purchase contracts amount to £42,617 (2023 £164,489).

11. STOCKS
31.12.24 31.12.23
£    £   
Stocks 4,375,366 9,245,558

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 6,192,204 6,658,505
Other debtors 17,296 -
Directors' current accounts 90,450 185,390
Tax 61,054 61,054
Prepayments and accrued income 41,426 26,183
6,402,430 6,931,132

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 15) 4,769,469 5,347,512
Hire purchase contracts (see note 16) 44,559 77,756
Trade creditors 1,972,640 6,208,818
Corporation tax 47,872 257,810
Social security and other taxes 48,496 63,550
VAT 866,941 930,303
Other creditors 92,580 103,842
Accrued expenses 249,098 517,060
8,091,655 13,506,651

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts (see note 16) - 44,559

15. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 4,769,469 5,347,512

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.24 31.12.23
£    £   
Gross obligations repayable:
Within one year 52,555 91,600
Between one and five years - 52,555
52,555 144,155

Finance charges repayable:
Within one year 7,996 13,844
Between one and five years - 7,996
7,996 21,840

Net obligations repayable:
Within one year 44,559 77,756
Between one and five years - 44,559
44,559 122,315

Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 18,000 72,000
Between one and five years - 18,000
18,000 90,000

Operating lease payments expended through the profit and loss account amounted to £72,000 (2023 £72,000).

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


17. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank overdrafts 4,769,469 5,347,512
Hire purchase contracts 44,559 122,315
4,814,028 5,469,827

National Westminster Bank Plc hold a mortgage debenture dated the 16th July 1998 covering all assets of the group.

BNP Paribas Commercial Finance Limited hold a fixed and floating charge dated the 3rd October 2016 over debts against the Company in respect of their Invoice discounting facility.

All Hire Purchase contracts are secured against the assets to which they relate.

18. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax
Accelerated capital allowances 174,983 229,305

Deferred
tax
£   
Balance at 1 January 2024 229,305
Provided during year (54,322 )
Balance at 31 December 2024 174,983

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
5,100 Ordinary A £1 5,100 5,100
4,900 Ordinary B £1 4,900 4,900
10,000 10,000

The holders of the 'A' shares and the 'B' shares shall rank pari passu save that the directors at anytime may resolve to declare a dividend on one class of share but not the other.

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


20. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2024 3,768,896 50 3,768,946
Profit for the year 204,101 204,101
Dividends (250,000 ) (250,000 )
At 31 December 2024 3,722,997 50 3,723,047

21. PENSION COMMITMENTS

The company contributes to a defined contribution scheme for employees. The charge to profit for the year in respect of the scheme was £84,181 (2023 £86,778). At the year end the amount not paid to the pension provider was £9,099 (2023 £7,914).

22. ULTIMATE PARENT COMPANY

Access Platform Sales Holdings Limited is regarded by the directors as being the company's ultimate parent company.

Consolidated financial statements are drawn up by Access Platform Sales Holdings Limited. The registered office is, Leewood Business Park, Upton, Huntingdon, Cambridgeshire, PE28 5YQ.

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
Ms H L Treggalles
Balance outstanding at start of year 92,695 91,037
Amounts advanced - 1,658
Amounts repaid (2,245 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,450 92,695

D W Leyshon
Balance outstanding at start of year 92,695 91,037
Amounts advanced - 1,658
Amounts repaid (92,695 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 92,695

Interest has been charged on the loans to the directors. There is no set repayment date for the capital.

Access Platform Sales Limited (Registered number: 02098515)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


24. RELATED PARTY DISCLOSURES

During the year the company paid rent of £72,000 (2023 £72,000) to Leewood Properties Limited. The shareholders and directors of Leewood Properties Limited are Mr J Daintith, Mr A D Jennings, Mr K B J Shadbolt and Mr S R Couling.

During the year, a total of key management personnel compensation of £ 324,446 (2023 - £ 408,209 ) was paid.