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Registered number: 08356072









STRUKTA GROUP LIMITED









GROUP ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
STRUKTA GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
Adrian Diffey 
Benjamin Diffey 
Kevin Diffey 
Mark Diffey 
Lauren James Moggach 
Myles Stuart Moggach 
Piers Moggach 




Registered number
08356072



Registered office
36 Walworth Road

Andover

Hampshire

SP10 5LH




Independent auditors
Clifford Fry & Co LLP (Statutory auditors)

St Mary's House

Netherhampton

Salisbury

Wiltshire

SP2 8PU





 
STRUKTA GROUP LIMITED
 

CONTENTS



Page
Group strategic report
1 - 2
Directors' report
3 - 4
Independent auditors' report
5 - 8
Consolidated statement of income and retained earnings
9
Consolidated balance sheet
10 - 11
Company balance sheet
12 - 13
Consolidated statement of changes in equity
14 - 15
Company statement of changes in equity
16 - 17
Consolidated statement of cash flows
18 - 19
Consolidated analysis of net debt
20
Notes to the financial statements
21 - 42


 
STRUKTA GROUP LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Review of the business
 
In a year when the UK new housebuilding market contracted by 7%, strukta Group maintained their previous year revenue. Our customers continued to ‘trust us to keep them working’, which translated into increased market penetration.
2024 also marked a major milestone: the first full trading year following our acquisition of SNS Building Products Ltd. The integration and strategic rebranding of SNS have not only strengthened our operational footprint but also unified our brand identity, positioning strukta Group for its next phase of growth. 
During the year, the Group undertook a strategic expansion with the addition of new locations. While this investment has temporarily impacted profitability, it aligns with our long-term growth strategy. We remain confident that these new sites will contribute positively to future performance and enhance shareholder value over time.

Business Performance
 
                                         2024              2023
Revenue                             £30.96M £31.28M
Gross Profit Margin                       30%               29%
EBITDA                               £2.4M            £2.9M
Net Profit %                               7.9%               9%

Governanace & Structure
 
Our Board, chaired by the CEO, meets monthly and includes non-executive directors, ensuring strategic oversight across all commercial functions. Weekly senior leadership meetings foster collaboration across Sales, Operations, Finance, Marketing, HR, and IT. Governance and risk processes are reviewed annually to ensure resilience and continuity.

Operational Excellence
 
We maintain high standards through ISO-certified systems and a culture of continuous improvement. ESG remains central to our strategy, with a strong focus on transparency, sustainability, and social impact.

Outlook and Opportunities
 
Our secured order book is at an all-time high and currently sits at around two times the 2024 value. With signs of recovery in the construction sector, we anticipate stronger revenues as these orders are delivered. We continue to operate 10 trade stores across the South, accounting for approximately 30% of our revenue and offering strong geographic coverage. The Directors remain optimistic about market potential, supported by government housing targets and planning reforms.

 


Page 1

 
STRUKTA GROUP LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


This report was approved by the board on 27 August 2025 and signed on its behalf.



................................................
Adrian Diffey
Director

Page 2

 
STRUKTA GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

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

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements 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 Group 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £1,505,984 (2023 - £1,553,963).

The directors have paid dividends of £1,549,990 (2023 - £2,207,700).

Directors

The directors who served during the year and their interests in the Group's issued share capital were:

Ordinary shares
of £1 each
Ordinary 'A' shares
of £1 each

31/12/24

1/1/24


31/12/24

1/1/24


Adrian Diffey 
11,750
11,000
1
1
Benjamin Diffey 
6,250
5,500
1
1
Kevin Diffey 
6,250
5,500
1
1
Mark Diffey 
6,250
5,500
1
1
Lauren James Moggach 
5,500
5,500
1
1
Myles Stuart Moggach 
5,500
5,500
1
1
Piers Moggach 
5,500
5,500
1
1


Page 3

 
STRUKTA GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Future developments

The market for our services is expected to continue to expand into 2025. The Group will continue to develop new services to help place it in a stong position to support the continual growth.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditorsClifford Fry & Co LLP (Statutory auditors)will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 27 August 2025 and signed on its behalf.
 





................................................
Adrian Diffey
Director

Page 4

 
STRUKTA GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STRUKTA GROUP LIMITED
 

Opinion


We have audited the financial statements of Strukta Group Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of income and retained earnings, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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 Group's and of the parent Company's affairs as at 31 December 2024 and of the Group's 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


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


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent 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.


Page 5

 
STRUKTA GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STRUKTA GROUP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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.


Opinion 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 Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

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


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


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records 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 Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
STRUKTA GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STRUKTA GROUP LIMITED (CONTINUED)


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 an Auditors' 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 Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates, including obtaining details on how they identify and comply with laws and regulations and whether they were aware of any non-compliance, how they detect and respond to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud, and finally the controls they have in order to mitigate risks of fraud or non-compliance with laws and regulations.
We designed audit procedures to respond to the risk, recognising that 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 deliberate concealment by, for example, intentional misrepresentations.
As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in the following areas: revenue and profit
recognition.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to,  the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, reviewing minutes of meetings and enquiries with management.
We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditors' report.


Page 7

 
STRUKTA GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STRUKTA GROUP LIMITED (CONTINUED)


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 2006Our 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 Auditors' 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.





Simon Allenby FCA (Senior statutory auditor)
  
for and on behalf of
Clifford Fry & Co LLP (Statutory auditors)
 
St Mary's House
Netherhampton
Salisbury
Wiltshire
SP2 8PU

27 August 2025
Page 8

 
STRUKTA GROUP LIMITED
 
 
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023 restated
Note
£
£

  

Turnover
 5 
30,962,919
31,279,317

Cost of sales
  
(21,821,649)
(22,258,195)

Gross profit
  
9,141,270
9,021,122

Administrative expenses
  
(6,975,260)
(6,597,327)

Other operating income
 6 
48,195
7,510

Operating profit
 7 
2,214,205
2,431,305

Amounts written off investments
  
-
(37,082)

Interest receivable and similar income
 11 
66,573
75,892

Interest payable and similar expenses
 12 
(185,840)
(194,842)

Profit before tax
  
2,094,938
2,275,273

Tax on profit
 13 
(588,954)
(721,310)

Profit after tax
  
1,505,984
1,553,963

  

  

Retained earnings at the beginning of the year
  
4,458,354
4,199,381

  
4,458,354
4,199,381

Profit for the year attributable to the owners of the parent
  
1,505,984
1,553,963

Dividends declared and paid
  
(1,549,990)
(2,207,700)

Transfer from merger resrve
  
-
912,710

Retained earnings at the end of the year
  
4,414,348
4,458,354

Non-controlling interest at the end of the year
  

The notes on pages 21 to 42 form part of these financial statements.

Page 9

 
STRUKTA GROUP LIMITED
REGISTERED NUMBER: 08356072

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023 restated
Note
£
£

Fixed assets
  

Intangible assets
 15 
1,773,032
1,994,661

Tangible assets
 16 
1,636,257
1,663,234

  
3,409,289
3,657,895

Current assets
  

Stocks
 18 
2,955,458
2,736,830

Debtors: amounts falling due within one year
 19 
3,628,021
4,132,401

Cash at bank and in hand
 20 
1,995,715
3,570,683

  
8,579,194
10,439,914

Creditors: amounts falling due within one year
 21 
(5,069,120)
(6,243,848)

Net current assets
  
 
 
3,510,074
 
 
4,196,066

Total assets less current liabilities
  
6,919,363
7,853,961

Creditors: amounts falling due after more than one year
 22 
(1,779,066)
(2,681,730)

Provisions for liabilities
  

Deferred taxation
 26 
(334,219)
(322,147)

  
 
 
(334,219)
 
 
(322,147)

Net assets
  
4,806,078
4,850,084


Capital and reserves
  

Called up share capital 
 27 
52,641
52,641

Other reserves
 28 
339,089
339,089

Profit and loss account
 28 
4,414,348
4,458,354

  
4,806,078
4,850,084


Page 10

 
STRUKTA GROUP LIMITED
REGISTERED NUMBER: 08356072
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2025.




................................................
Adrian Diffey
Director

The notes on pages 21 to 42 form part of these financial statements.

Page 11

 
STRUKTA GROUP LIMITED
REGISTERED NUMBER: 08356072

COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023 restated
Note
£
£

Fixed assets
  

Intangible assets
 15 
1,773,032
1,994,661

Tangible assets
 16 
1,636,257
1,663,234

Investments
 17 
301,001
301,001

  
3,710,290
3,958,896

Current assets
  

Stocks
 18 
2,955,458
2,736,830

Debtors: amounts falling due within one year
 19 
3,628,021
3,831,401

Cash at bank and in hand
 20 
1,995,714
3,570,682

  
8,579,193
10,138,913

Creditors: amounts falling due within one year
 21 
(5,370,120)
(6,243,848)

Net current assets
  
 
 
3,209,073
 
 
3,895,065

Total assets less current liabilities
  
6,919,363
7,853,961

  

Creditors: amounts falling due after more than one year
 22 
(1,779,066)
(2,681,730)

Provisions for liabilities
  

Deferred taxation
 26 
(334,219)
(322,147)

  
 
 
(334,219)
 
 
(322,147)

Net assets
  
4,806,078
4,850,084


Capital and reserves
  

Called up share capital 
 27 
52,641
52,641

Other reserves
 28 
339,089
339,089

Profit and loss account brought forward
  
4,458,354
4,199,381

Profit for the year
  
1,505,984
1,553,963

Other changes in the profit and loss account

  

(1,549,990)
(1,294,990)

Profit and loss account carried forward
  
4,414,348
4,458,354

  
4,806,078
4,850,084


Page 12

 
STRUKTA GROUP LIMITED
REGISTERED NUMBER: 08356072
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2025.


................................................
Adrian Diffey
Director

The notes on pages 21 to 42 form part of these financial statements.

Page 13

 
STRUKTA GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
52,641
339,089
4,458,354
4,850,084


Comprehensive income for the year

Profit for the year
-
-
1,505,984
1,505,984
Total comprehensive income for the year
-
-
1,505,984
1,505,984


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(1,549,990)
(1,549,990)


Total transactions with owners
-
-
(1,549,990)
(1,549,990)


At 31 December 2024
52,641
339,089
4,414,348
4,806,078


The notes on pages 21 to 42 form part of these financial statements.

Page 14

 
STRUKTA GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Merger reserve restated
Profit and loss account restated
Total equity restated

£
£
£
£

At 1 January 2023
50,009
1,251,799
4,199,381
5,501,189


Comprehensive income for the year

Profit for the year
-
-
1,553,963
1,553,963
Total comprehensive income for the year
-
-
1,553,963
1,553,963


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(2,207,700)
(2,207,700)

Shares issued during the year
2,632
-
-
2,632

Transfer to/from profit and loss account
-
(912,710)
912,710
-


Total transactions with owners
2,632
(912,710)
(1,294,990)
(2,205,068)


At 31 December 2023
52,641
339,089
4,458,354
4,850,084


The notes on pages 21 to 42 form part of these financial statements.

Page 15

 
STRUKTA GROUP LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
52,641
339,089
4,458,354
4,850,084


Comprehensive income for the year

Profit for the year
-
-
1,505,984
1,505,984
Total comprehensive income for the year
-
-
1,505,984
1,505,984


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(1,549,990)
(1,549,990)


Total transactions with owners
-
-
(1,549,990)
(1,549,990)


At 31 December 2024
52,641
339,089
4,414,348
4,806,078


The notes on pages 21 to 42 form part of these financial statements.

Page 16

 
STRUKTA GROUP LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Merger reserve restated
Profit and loss account restated
Total equity restated

£
£
£
£

At 1 January 2023
50,009
1,251,799
4,199,381
5,501,189


Comprehensive income for the year

Profit for the year
-
-
1,553,963
1,553,963
Total comprehensive income for the year
-
-
1,553,963
1,553,963


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(2,207,700)
(2,207,700)

Shares issued during the year
2,632
-
-
2,632

Transfer to/from profit and loss account
-
(912,710)
912,710
-


Total transactions with owners
2,632
(912,710)
(1,294,990)
(2,205,068)


At 31 December 2023
52,641
339,089
4,458,354
4,850,084


The notes on pages 21 to 42 form part of these financial statements.

Page 17

 
STRUKTA GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023 restated
£
£

Cash flows from operating activities

Profit for the financial year
1,505,984
1,553,963

Adjustments for:

Amortisation of intangible assets
221,629
454,062

Depreciation of tangible assets
487,128
431,570

Impairments of fixed assets
-
37,082

Loss on disposal of tangible assets
34,612
19,176

Interest paid
185,840
194,842

Interest received
(66,573)
(75,892)

Taxation charge
588,954
755,079

(Increase) in stocks
(218,628)
(165,374)

Decrease/(increase) in debtors
203,380
(573,145)

(Decrease)/increase in creditors
(1,610,760)
539,318

Corporation tax (paid)
(575,357)
(703,400)

Net cash generated from operating activities

756,209
2,467,281


Cash flows from investing activities

Purchase of intangible fixed assets
-
(2,233,790)

Purchase of tangible fixed assets
(540,336)
(695,220)

Sale of tangible fixed assets
45,573
32,042

Interest received
66,573
75,892

HP interest paid
(27,913)
(30,360)

Net cash from investing activities

(456,103)
(2,851,436)

Cash flows from financing activities

Issue of ordinary shares
-
2,632

New secured loans
-
719,831

Repayment of loans
(167,534)
-

Repayment of/new finance leases
377
(136,127)

Dividends paid
(1,549,990)
(2,207,700)

Interest paid
(157,927)
(164,482)

Merger reserve
-
1,251,799

Net cash used in financing activities
(1,875,074)
(534,047)

Net (decrease) in cash and cash equivalents
(1,574,968)
(918,202)

Cash and cash equivalents at beginning of year
3,570,683
4,488,885

Cash and cash equivalents at the end of year
1,995,715
3,570,683

Page 18

 
STRUKTA GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


2024
2023

£
£


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,995,715
3,570,683

1,995,715
3,570,683


The notes on pages 21 to 42 form part of these financial statements.

Page 19

 
STRUKTA GROUP LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cash flows
At 31 December 2024
£

£

£

Cash at bank and in hand

3,570,683

(1,574,968)

1,995,715

Debt due after 1 year

(632,673)

187,920

(444,753)

Debt due within 1 year

(562,158)

44,160

(517,998)

Finance leases

(506,653)

(377)

(507,030)


1,869,199
(1,343,265)
525,934

The notes on pages 21 to 42 form part of these financial statements.

Page 20

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Strukta Group Limited was incorporated and registered  in England & Wales and is a private group limited by share capital. The Group is primarily involved in the sale of building products to the construction industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 December 2014.

Page 21

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Group's functional and presentational currency is GBP and rounded to the nearest £..

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 22

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 23

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 24

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Leasehold property improvements
-
over the term of the lease, 9 - 10 years
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% reducing balance
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 25

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.20

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 26

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.21

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The directors do not believe that the financial statements are materially impacted by their use of judgements.


4.


Prior period adjustment

A prior year adjustment of £912,710 has been made to adjust the carrying value of the investment in SNS Building Products Ltd to the amount the directors have assessed as being its correct value. This write off has been made against the merger resrve in accordance with FRS102.


5.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Sale of goods
30,962,919
31,279,317

30,962,919
31,279,317


All turnover arose within the United Kingdom.


6.


Other operating income

2024
2023
£
£

Net rents receivable
-
7,510

Sundry income
48,195
-

48,195
7,510


Page 27

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
1,981
6,107

Other operating lease rentals
865,040
773,317


8.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
28,175
22,837

Fees payable to the Company's auditors in respect of:

The auditing of accounts of subsidiaries of the Company
-
5,800


9.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
4,638,766
4,527,863
4,638,766
4,164,246

Social security costs
460,526
434,825
460,526
405,294

Cost of defined contribution scheme
56,750
55,276
56,750
49,186

5,156,042
5,017,964
5,156,042
4,618,726


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Employees
127
138
127
115

Page 28

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
88,200
88,200

88,200
88,200



11.


Interest receivable

2024
2023
£
£


Other interest receivable
66,573
75,892

66,573
75,892


12.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
52,028
6,459

Other loan interest payable
23,048
38,982

Finance leases and hire purchase contracts
27,913
30,360

Other interest payable
82,851
119,041

185,840
194,842


13.


Taxation


2024
2023
£
£

Corporation tax
  


Current tax on profits for the year
  
576,882
722,010

  

Deferred tax
  


Origination and reversal of timing differences
  
12,072
(700)

  

Tax on profit
  
588,954
721,310
Page 29

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
13.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 25% from 1 April 2023 and 25% to 31 March 2023). The differences are explained below:

2024
2023 restated
£
£


Profit on ordinary activities before tax
2,094,938
2,275,273


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
523,735
568,818

Effects of:


Non-tax deductible amortisation of goodwill and impairment
55,407
111,016

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
9,812
13,427

Capital allowances for year in excess of depreciation
(12,072)
11,364

Other timing differences leading to an increase (decrease) in taxation
12,072
(700)

Other differences leading to an increase (decrease) in the tax charge
-
17,385

Total tax charge for the year
588,954
721,310


Factors that may affect future tax charges

The increase in tax charge may affect future tax charges.


14.


Dividends

2024
2023
£
£


Dividends paid on Ordinary shares
1,096,000
1,250,000


Dividends paid on Preference shares
50,000
50,000


Dividends paid on Ordinary A shares
392,751
880,959


Dividends paid on Ordinary B shares
11,239
26,741

1,549,990
2,207,700

Page 30

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Intangible assets

Group





Goodwill

£



Cost


At 1 January 2024
6,033,709



At 31 December 2024

6,033,709



Amortisation


At 1 January 2024
4,039,048


Charge for the year on owned assets
221,629



At 31 December 2024

4,260,677



Net book value



At 31 December 2024
1,773,032



At 31 December 2023
1,994,661



Page 31

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
           15.Intangible assets (continued)

Company




Goodwill

£



Cost


At 1 January 2024
6,033,709



At 31 December 2024

6,033,709



Amortisation


At 1 January 2024
4,039,048


Charge for the year
221,629



At 31 December 2024

4,260,677



Net book value



At 31 December 2024
1,773,032



At 31 December 2023
1,994,661

Page 32

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.


Tangible fixed assets

Group and Company






Leasehold improve - ments
Plant and machinery
Motor vehicles
Computer & office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
776,991
543,711
1,441,648
224,633
2,986,983


Additions
71,315
-
442,393
26,628
540,336


Disposals
(7,733)
-
(355,725)
(29,250)
(392,708)



At 31 December 2024

840,573
543,711
1,528,316
222,011
3,134,611



Depreciation


At 1 January 2024
274,701
190,889
713,844
144,315
1,323,749


Charge for the year on owned assets
84,498
30,145
88,636
42,940
246,219


Charge for the year on financed assets
-
40,420
200,489
-
240,909


Disposals
(7,733)
-
(275,540)
(29,250)
(312,523)



At 31 December 2024

351,466
261,454
727,429
158,005
1,498,354



Net book value



At 31 December 2024
489,107
282,257
800,887
64,006
1,636,257



At 31 December 2023
502,290
352,822
727,804
80,318
1,663,234



The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
161,684
202,104

Motor vehicles
601,462
586,521

763,146
788,625

Page 33

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024 (as previously stated)
1,213,711


Prior Year Adjustment

(912,710)


At 1 January 2024 (as restated)
301,001



At 31 December 2024
301,001






Net book value



At 31 December 2024
301,001



At 31 December 2023 (as restated)
301,001

On 30.06.2023, Strukta Group Limited acquired a 100% owned subsidiary, SNS Building Products Limited accounted for under the merger methor of accounting for £3,180,000, consisting of issuing new B shares valued at £1,300,000, cash consideration and deferred consideration to be paid off with monthly instalments.
A prior year adjustment of £912,710 has been made to adjust the carrying value of the investment in SNS Building Produects Limited to the amount the directors have assessed as being its correct value.
 

Page 34

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Strukta (Taunton) Limited
36 Walworth Road, Andover, Hampshire, SP10 5LH
Ordinary
100%
Tychon (SP) Limited
36 Walworth Road, Andover, Hampshire, SP10 5LH
Ordinary
100%
SNS Building Products Limited
36 Walworth Road, Andover, Hampshire, SP10 5LH
Ordinary
100%

Tychon (SP) Limited is a dormant company with a year end of 31 January, which is not coterminous with Strukta Group Limited.
Strukta (Taunton) Limited and SNS Building Products Limited are also dormant but with the same year end as Strukta Group Limited.
All three subsidiaries are exempt from the requirements of the Companies Act 2006 relating to the audit of its individual accounts by virtue of section 479A.

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings was as follows:

Name
Aggregate of share capital and reserves
£

Strukta (Taunton) Limited
250,000

Tychon (SP) Limited
1

SNS Building Products Limited
51,000


18.


Stocks

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Finished goods and goods for resale
2,955,458
2,736,830
2,955,458
2,736,830

2,955,458
2,736,830
2,955,458
2,736,830



19.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
Page 35

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

19.Debtors (continued)

£
£
£
£


Trade debtors
3,099,402
3,383,834
3,099,402
3,383,834

Amounts owed by group undertakings
-
301,000
-
-

Other debtors
55,437
61,874
55,437
61,874

Prepayments and accrued income
473,182
385,693
473,182
385,693

3,628,021
4,132,401
3,628,021
3,831,401



20.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
1,995,715
3,570,683
1,995,714
3,570,682

1,995,715
3,570,683
1,995,714
3,570,682


Page 36

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

21.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
182,544
162,158
182,544
162,158

Trade creditors
3,144,906
3,008,631
3,144,906
3,008,631

Amounts owed to group undertakings
-
301,000
301,000
301,000

Corporation tax
208,582
207,057
208,582
207,057

Other taxation and social security
374,585
463,267
374,585
463,267

Obligations under finance lease and hire purchase contracts
293,306
289,599
293,306
289,599

Other creditors
722,262
1,562,430
722,262
1,562,430

Accruals and deferred income
142,935
249,706
142,935
249,706

5,069,120
6,243,848
5,370,120
6,243,848


Disclosure of the terms and conditions attached to the non-equity shares is made in note 27.


The following liabilities were secured:
Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Hire purchase contracts
293,306
289,599
293,306
289,599

293,306
289,599
293,306
289,599

Details of security provided:

The hire purchase contracts are secured on the assets concerned.

Page 37

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

22.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
369,753
557,673
369,753
557,673

Net obligations under finance leases and hire purchase contracts
213,724
217,054
213,724
217,054

Other creditors
1,120,589
1,832,003
1,120,589
1,832,003

Share capital treated as debt
75,000
75,000
75,000
75,000

1,779,066
2,681,730
1,779,066
2,681,730


Disclosure of the terms and conditions attached to the non-equity shares is made in note 27.


The following liabilities were secured:
Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Hire purchase contracts
213,724
217,054
213,724
217,054

213,724
217,054
213,724
217,054

Details of security provided:

The hire purchase contracts are secured on the assets concerned.



Page 38

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

23.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
182,544
162,158
182,544
162,158


182,544
162,158
182,544
162,158

Amounts falling due 1-2 years

Bank loans
369,753
557,673
369,753
557,673


369,753
557,673
369,753
557,673



552,297
719,831
552,297
719,831



24.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Within one year
293,306
289,599
293,306
289,599

Between 1-5 years
213,724
217,054
213,724
217,054

507,030
506,653
507,030
506,653

Certain plant and machinery and motor vehicles are held under hire purchase arrangements. Hire purchase liabilities are secured by the related assets held under hire purchase. The lease agreements generally include fixed payments and a purchase option at the end of the term.

Page 39

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

25.


Financial instruments

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
1,995,715
3,570,683
1,995,714
3,570,682




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


26.


Deferred taxation


Group





2024


£






At beginning of year
(322,147)


Charged to profit or loss
(12,072)



At end of year
(334,219)

Company




2024


£






At beginning of year
(322,147)


Charged to profit or loss
(12,072)



At end of year
(334,219)

The provision for deferred taxation is made up as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Accelerated capital allowances
(334,219)
(322,147)
(334,219)
(322,147)

(334,219)
(322,147)
(334,219)
(322,147)

Page 40

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

27.


Share capital

2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



50,000 (2023 - 50,000) Ordinary shares of £1 each
50,000
50,000
9 (2023 - 9) Ordinary 'A' shares of £1 each
9
9
2,632 (2023 - 2,632) Ordinary 'B' shares of £1 each
2,632
2,632

52,641

52,641

2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



75,000 (2023 - 75,000) Preference shares of £1 each
75,000
75,000


The 75,000 £1 Preference shares bear interest of 5% over base rate over a five year period which commenced in 2021.


28.


Reserves

Merger Reserve

Includes all monies above the nominal value of the shares issued as part of the consideration paid for the
subsidiary company SNS Building Products Limited and the subsequent impairment of the value of this
company due to the hive up within the parent company.

Profit and loss account

Includes all current and prior year retained profits and losses.


29.


Pension commitments

The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £56,750 (2023 - £55,276). Contributions totalling £11,001 (2023 - £11,804) were payable to the fund at the balance sheet date and are included in creditors.

Page 41

 
STRUKTA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

30.


Commitments under operating leases

At 31 December 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
805,942
802,585
805,942
802,585

Later than 1 year and not later than 5 years
1,023,609
1,534,388
1,023,609
1,534,388

Later than 5 years
-
127,014
-
127,014

1,829,551
2,463,987
1,829,551
2,463,987


31.


Related party transactions

During the year the Company paid rent to the following directors for premises which they own and the Company leases from them:-        
Adrian Diffey £18,750 (2023 - £16,875)        
Mark Diffey £18,750 (2023 - £16,875)        
Benjamin Diffey £18,750 (2023 - £16,875)        
Kevin Diffey £18,750 (2023 - £16,875)       
             
The Company entered into the following transactions with Masonport LLP, a business in which the  directors Adrian Diffey, Mark Diffey, Benjamin Diffey and Kevin Diffey are all partners. Masonport LLP advanced the Company £390,000 as a loan in 2016. Interest of £19,500 (2023 - £19,500) was paid to Masonport LLP in respect of this loan. The balance was repaid during 2024. (2023 - £390,000 was included within Other creditors.)                      
The Company owns 100% of the ordinary shares of Strukta (Taunton) Limited, a dormant company. At the year end Strukta (Taunton) Ltd  was owed £250,000 by the Company (2023 - £250,000) included within Creditors.
The Company owns 100% of the ordinary shares of SNS Building Products Limited, a dormant company from 1 January 2024. During the year, the Company sold goods amounting to £nil (2023 - £213,761) and charged a management fee/recharge of costs of £nil (2023 - £194,537) to SNS Building Products Limited. The Company purchased goods from SNS Building Products Limited amounting to £nil (2023 -£575,633). At the year end, the Company owed £51,000 (2023 - £51,000) to SNS Building Products Limited.                     
Key management personnel compensation during the year was £25,200 (2023 - £25,200).


32.


Controlling party

There is no ultimate controlling party.

Page 42