Company registration number 03233431 (England and Wales)
ANDERSONS (DENTON HOLME) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ANDERSONS (DENTON HOLME) LIMITED
COMPANY INFORMATION
Directors
M Barker
C Carr
(Appointed 1 October 2024)
Secretary
C Barker
Company number
03233431
Registered office
Denton Holme Sawmills
Denton Street
Carlisle
Cumbria
CA2 5EQ
Auditor
BHP LLP
Mayesbrook House
Lawnswood Business Park
Redvers Close
Leeds
LS16 6QY
ANDERSONS (DENTON HOLME) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 21
ANDERSONS (DENTON HOLME) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

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

Review of the business

The company's Balance Sheet as detailed on page 8 shows a satisfactory position, shareholder's funds amounting to £987,772 (2023: £1,214,819).

 

The company supplies timber, kitchen and joinery products, to both trade and retail customers from its five branches in Carlisle, Dumfries, Kilmarnock, Stranraer and Barrow in Furness.

 

The directors are pleased to report another profitable year of trading for the company, this is despite the results showing a fall in turnover to £12,148,429 (2023: £14,142,170). The company has been able to maintain strong Gross Profit of 36.39% (2023: 36.47%).

 

Cash resources have been managed carefully during the period with the company continuing to trade well within its banking facilities.

 

The directors believe that the company is well positioned to take advantage of the opportunities as they are presented.

Principal risks and uncertainties

The directors continue to monitor and anticipate changes in the market place and embrace new products and technologies to ensure the company remains a market leader.

 

The home improvement market remains highly competitive and price sensitive. The directors monitor the inflationary pressures on both customer demand and material prices to ensure customers receive exceptional quality and value for money.

 

Trade debt is closely monitored to keep bad debt risk to an absolute minimum.

 

Overhead costs are closely monitored and cash flow tightly controlled.

Key performance indicators

 

Turnover

Turnover has decreased by 16% to £12,148,429 (2023: £14,142,170).


Gross margin

A margin of 36.39% has been recorded (2023: 36.47%), due to a focus on bulk buying in order to allow competitive selling to trade and retail, gaining new market shares.

On behalf of the board

M Barker
Director
28 August 2025
ANDERSONS (DENTON HOLME) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities
The principal activity of the company continued to be that of timber merchants and kitchen furniture suppliers.
Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £629,560. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M Barker
V Woods
(Resigned 30 September 2024)
C Carr
(Appointed 1 October 2024)
Auditor
The auditor, BHP LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
M Barker
Director
28 August 2025
ANDERSONS (DENTON HOLME) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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:

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.

ANDERSONS (DENTON HOLME) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ANDERSONS (DENTON HOLME) LIMITED
- 4 -
Opinion

We have audited the financial statements of Andersons (Denton Holme) Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 our audit:

ANDERSONS (DENTON HOLME) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ANDERSONS (DENTON HOLME) LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

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

ANDERSONS (DENTON HOLME) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ANDERSONS (DENTON HOLME) LIMITED (CONTINUED)
- 6 -

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

 

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

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.

 

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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Chris Neale (Senior Statutory Auditor)
For and on behalf of BHP LLP, Statutory Auditor
Chartered Accountants
Mayesbrook House
Lawnswood Business Park
Redvers Close
Leeds
LS16 6QY
28 August 2025
ANDERSONS (DENTON HOLME) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
12,148,429
14,142,170
Cost of sales
(7,727,521)
(8,984,750)
Gross profit
4,420,908
5,157,420
Administrative expenses
(3,965,685)
(4,378,351)
Other operating income
-
0
2,000
Operating profit
4
455,223
781,069
Interest receivable and similar income
7
13,703
38,497
Interest payable and similar expenses
8
(7,501)
(54,419)
Profit before taxation
461,425
765,147
Tax on profit
9
(71,343)
(204,805)
Profit for the financial year
390,082
560,342

The Statement of Comprehensive Income has been prepared on the basis that all operations are continuing operations.

ANDERSONS (DENTON HOLME) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
11
5,726
11,365
Tangible assets
12
482,028
529,752
487,754
541,117
Current assets
Stocks
13
1,293,421
1,388,369
Debtors
14
1,186,695
1,323,654
Cash at bank and in hand
529,523
1,163,724
3,009,639
3,875,747
Creditors: amounts falling due within one year
15
(2,446,604)
(3,119,195)
Net current assets
563,035
756,552
Total assets less current liabilities
1,050,789
1,297,669
Provisions for liabilities
Deferred tax liability
17
75,448
82,850
(75,448)
(82,850)
Net assets
975,341
1,214,819
Capital and reserves
Called up share capital
19
50,000
50,000
Profit and loss reserves
925,341
1,164,819
Total equity
975,341
1,214,819

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
M Barker
Director
Company registration number 03233431 (England and Wales)
ANDERSONS (DENTON HOLME) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
50,000
2,294,477
2,344,477
Year ended 31 December 2023:
Profit and total comprehensive income
-
560,342
560,342
Dividends
10
-
(1,690,000)
(1,690,000)
Balance at 31 December 2023
50,000
1,164,819
1,214,819
Year ended 31 December 2024:
Profit and total comprehensive income
-
390,082
390,082
Dividends
10
-
(629,560)
(629,560)
Balance at 31 December 2024
50,000
925,341
975,341
ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Company information

Andersons (Denton Holme) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Denton Holme Sawmills, Denton Street, Carlisle, Cumbria, CA2 5EQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Triggerdown Limited. These consolidated financial statements are available from its registered office, Denton Holme Sawmills, Denton Street, Carlisle, Cumbria, CA2 5EQ.

The company has taken exemption under FRS 102 paragraph 1.12 to not disclose the requirements under FRS 102 section 7 Statement of Cash flows due to the fact that the company is a wholly owned subsidiary of Triggerdown Limited. Triggerdown Limited produces consolidated financial statements which are available from the Registrar of Companies, Companies House Cardiff, CF14 3UZ.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

This assessment is based on detailed future trading and cashflow forecasts, alongside sensitivity analysis. The business continues to trade profitably following the year end and the Directors to not anticipate any issues associated with going concern.

1.3
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.

ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 

Revenue in relation to services are recognised on completion of the service.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website Development
25% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
over the period of the lease
Plant and machinery
4% - 10% straight line
Fixtures, fittings & equipment
10% - 25% straight line
Motor vehicles
25% - 33% straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of average cost and estimated selling price less costs to complete and sell. Average cost comprises direct materials and is calculated as a weighted average of all units purchased and is recalculated each time there is an inwards goods movement.

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.

1.8
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 current liabilities.

1.9
Financial instruments

The company has taken advantage of the exemption the financial instruments disclosures on the basis that they are included in the consolidated financial statements of Triggerdown Limited.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company 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 asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation

The depreciation policy has been set according to management's experience of the useful lives of a typical asset in each category. It is not considered practical to use a per unit basis to allocate depreciation. The depreciation charged during the year was £141,950 (2023: £150,546) which the directors feel is a fair reflection of the benefits derived from consumption of the tangible fixed assets in use during the period.

Stock provision

The stock provision has been set according to management's understanding of the nature of stock, ageing by product line and knowledge of discontinued items. The stock provision at the year end was £252,104 (2023: £216,161) which the directors feel is a fair reflection of the reduction in net realisable value compared to cost.

Bad debt provision

The bad debt provision has been set according to management's understanding of the characteristics of specific customers. The bad debt provision at the year end was £92,818 (2023: £138,745).

3
Turnover

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Supply of kitchen furniture, timber and related products
12,148,429
14,142,170

All turnover is generated in the United Kingdom.

4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Government grants
-
(2,000)
Fees payable to the company's auditor for the audit of the company's financial statements
19,940
18,720
Depreciation of owned tangible fixed assets
141,950
150,546
Profit on disposal of tangible fixed assets
(10,800)
(2,100)
Amortisation of intangible assets
5,639
5,369
Operating lease charges
321,600
321,600
ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Production and sales staff
52
59
Administrative staff
9
20
Management staff
11
2
Total
72
81

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,044,244
2,374,645
Social security costs
230,712
241,666
Pension costs
98,956
92,740
2,373,912
2,709,051
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
100,112
88,444
Company pension contributions to defined contribution schemes
36,000
36,000
136,112
124,444

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2023 - 2).

7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
13,703
38,497
ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
7,501
54,032
Interest on finance leases and hire purchase contracts
-
387
7,501
54,419
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
137,040
188,613
Adjustments in respect of prior periods
(58,295)
1,960
Total current tax
78,745
190,573
Deferred tax
Origination and reversal of timing differences
(7,402)
14,232
Total tax charge
71,343
204,805

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
461,425
765,147
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
115,356
179,963
Tax effect of expenses that are not deductible in determining taxable profit
931
1,859
Change in deferred tax rate
-
0
700
Other tax adjustments, reliefs and transfers
2,690
17,919
Adjustment to tax charge in respect of previous periods
(58,294)
1,960
Deferred tax not recognised
10,660
2,404
Taxation charge for the year
71,343
204,805
10
Dividends
2024
2023
£
£
Interim paid
629,560
1,690,000
ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
11
Intangible fixed assets
Website Development
£
Cost
At 1 January 2024 and 31 December 2024
21,475
Amortisation and impairment
At 1 January 2024
10,110
Amortisation charged for the year
5,639
At 31 December 2024
15,749
Carrying amount
At 31 December 2024
5,726
At 31 December 2023
11,365
12
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
493,681
250,232
921,542
583,120
2,248,575
Additions
-
0
-
0
70,366
60,820
131,186
Disposals
-
0
(2,100)
(84,805)
(77,969)
(164,874)
At 31 December 2024
493,681
248,132
907,103
565,971
2,214,887
Depreciation and impairment
At 1 January 2024
408,984
222,057
602,735
485,047
1,718,823
Depreciation charged in the year
31,139
3,450
60,002
47,359
141,950
Eliminated in respect of disposals
-
0
(2,100)
(52,740)
(73,074)
(127,914)
At 31 December 2024
440,123
223,407
609,997
459,332
1,732,859
Carrying amount
At 31 December 2024
53,558
24,725
297,106
106,639
482,028
At 31 December 2023
84,697
28,175
318,807
98,073
529,752
ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
13
Stocks
2024
2023
£
£
Property held for resale
40,000
40,000
Finished goods and goods for resale
1,253,421
1,348,369
1,293,421
1,388,369
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
414,390
385,080
Corporation tax recoverable
-
0
82,701
Amounts owed by undertakings in which the company has a participating interest
589,524
673,485
Other debtors
-
7,514
Prepayments and accrued income
182,781
174,874
1,186,695
1,323,654
15
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Other borrowings
16
-
0
240,004
Trade creditors
1,123,633
1,219,958
Amounts owed to group undertakings
584
584
Corporation tax
137,040
216,293
Other taxation and social security
308,113
83,707
Other creditors
40,009
182,400
Accruals and deferred income
837,225
1,176,249
2,446,604
3,119,195
ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
16
Loans and overdrafts
2024
2023
£
£
Other loans
-
0
240,004
Payable within one year
-
0
240,004

The loan was fully repaid in September 2024.

17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
In respect of accelerated capital allowances
75,448
82,850
2024
Movements in the year:
£
Liability at 1 January 2024
82,850
Credit to profit or loss
(7,402)
Liability at 31 December 2024
75,448
18
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
98,956
92,740

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The employer's contributions outstanding at the year end were £608 (2023: £608).

19
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
50,000
50,000
50,000
50,000

 

ANDERSONS (DENTON HOLME) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
20
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within 1 year
319,036
336,529
Years 2-5
719,973
848,735
After 5 years
787,960
954,301
1,826,969
2,139,565
21
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Purchases
Purchases
2024
2023
£
£
Other related parties
321,600
321,600

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
589,171
673,485
Other information

Vincent Woods, a former director, received a vehicle with a net book value of £1,000 as a gift upon his retirement.

22
Ultimate controlling party

Andersons (Denton Holme) Limited is a wholly owned subsidiary of Triggerdown Limited. Triggerdown Limited is controlled by M Barker, a Director of Andersons (Denton Holme) Limited.

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