REGISTERED NUMBER: 02739399 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RICHARD GRANT MOULDINGS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D Foster

K D Dumbleton

S V Foster

A M Dumbleton

SECRETARY:

D Foster

REGISTERED OFFICE:

Units K4 and 5

Cherrycourt Way

Stanbridge Road

Leighton Buzzard

Bedfordshire

LU7 4UH

REGISTERED NUMBER:

02739399 (England and Wales)

ACCOUNTANTS:

Landers Accountants Ltd

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

FIXED ASSETS

Property, plant and equipment

4

746,331

820,740

CURRENT ASSETS

Inventories

232,578

253,292

Debtors

5

561,039

518,643

Cash at bank and in hand

270,482

142,165

1,064,099

914,100

CREDITORS

Amounts falling due within one year

6

542,304

465,851

NET CURRENT ASSETS

521,795

448,249

TOTAL ASSETS LESS CURRENT LIABILITIES

1,268,126

1,268,989

CREDITORS

Amounts falling due after more than one year

7

(46,296

)

(157,407

)

PROVISIONS FOR LIABILITIES

(365,959

)

(382,678

)

NET ASSETS

855,871

728,904

CAPITAL AND RESERVES

Called up share capital

406

406

Retained earnings

855,465

728,498

SHAREHOLDERS' FUNDS

855,871

728,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:

D Foster - Director

1.	STATUTORY INFORMATION

Richard Grant Mouldings Limited is a private company limited by shares, incorporated in England and Wales. Its registered office and principal place of business is Units K4 and 5, Cherrycourt Way, Stanbridge Road, Leighton Buzzard, Bedfordshire, LU7 4UH.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over 15 years

Plant and machinery

-

20% and 25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice factoring

Amounts due in respect of invoice factoring are included within current liabilities. The company can use this facility to draw down a percentage of the value of certain sales invoices. The management and collection of trade debtors lays with the provider.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 34 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

23,340

4,506,838

81,550

53,063

4,664,791

Additions

-

260,229

-

46,825

307,054

Disposals

-

-

-

(29,565

)

(29,565

)

At 31 December 2024

23,340

4,767,067

81,550

70,323

4,942,280

DEPRECIATION

At 1 January 2024

23,340

3,688,918

78,730

53,063

3,844,051

Charge for year

-

373,508

1,126

6,829

381,463

Eliminated on disposal

-

-

-

(29,565

)

(29,565

)

At 31 December 2024

23,340

4,062,426

79,856

30,327

4,195,949

NET BOOK VALUE

At 31 December 2024

-

704,641

1,694

39,996

746,331

At 31 December 2023

-

817,920

2,820

-

820,740

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

388,245

219,525

Amounts owed by group undertakings

57,634

84,000

Other debtors

115,160

215,118

561,039

518,643

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

111,111

111,111

Trade creditors

222,450

144,287

Taxation and social security

153,512

161,410

Other creditors

55,231

49,043

542,304

465,851

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

46,296

157,407

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

180,477

153,597

Between one and five years

676,789

614,388

In more than five years

-

115,198

857,266

883,183

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

157,407

268,518

The bank borrowings are secured by a fixed and floating charge over the book debts and other assets created on 28th September 1999 and a fixed charge over all book debts and a floating charge over all other assets dated 22nd September 2006.

The first charge held by the bank over the book debts is deferred to HSBC Invoice Finance (UK) Limited in relation to those book debts financed by that company (as detailed above).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

Director 1

31.12.24

31.12.23

£

£

Balance outstanding at start of year

4,227

(803

)

Amounts advanced

6,675

28,047

Amounts repaid

(10,954

)

23,017

Amounts transferred on resignation

-

Balance outstanding at end of year

(52

)

4,227

Director 2

31.12.24

31.12.23

£

£

Balance outstanding at start of year

15,798

(500

)

Amounts advanced

2,240

16,298

Amounts repaid

(30,000

)

-

Amounts transferred on resignation

-

-

Balance outstanding at end of year

(11,962

)

15,798

11.	PARENT COMPANY

The parent company is Dumbfost Limited, and its registered office is Units K4 And 5 Cherrycourt Way, Stanbridge Road, Leighton Buzzard, Bedfordshire, England, LU7 4UH