REGISTERED NUMBER: 00156484 (England and Wales)

BRUNTON'S PROPELLERS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

J C Langham

A D Deves

J Shaw

D G L Sheppard

SECRETARY:

A D Deves

REGISTERED OFFICE:

Binghams Melcombe

Dorchester

Dorset

DT2 7PZ

BUSINESS ADDRESS:

Oakwood Business Park

Stephenson Road West

Clacton-on-Sea

Essex

CO15 4TL

REGISTERED NUMBER:

00156484 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Argyle BSc ACA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Property, plant and equipment

3

14,177

18,561

CURRENT ASSETS

Inventories

4

1,932,688

1,328,953

Debtors

5

461,522

413,132

Cash at bank

72,822

92,490

2,467,032

1,834,575

CREDITORS

Amounts falling due within one year

6

1,784,878

1,106,432

NET CURRENT ASSETS

682,154

728,143

TOTAL ASSETS LESS CURRENT LIABILITIES

696,331

746,704

CREDITORS

Amounts falling due after more than one year

7

(613,464

)

-

PROVISIONS FOR LIABILITIES

-

(40,000

)

NET ASSETS

82,867

706,704

CAPITAL AND RESERVES

Called up share capital

8

1,350,000

1,350,000

Retained earnings

(1,267,133

)

(643,296

)

SHAREHOLDERS' FUNDS

82,867

706,704

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 by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

J C Langham - Director

1.	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 on a going concern basis under the historical cost convention.

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.

The company is a subsidiary of Langham Industries Limited. Consolidated financial statements of Langham Industries Limited can be obtained from:

Companies House

Crown Way

Cardiff

CF14 3UZ

Revenue

Revenue represents sales at invoice value less trade discounts allowed and excluding value added tax. Revenue is recognised when goods are despatched or the period in which services are rendered.

Property, plant and equipment

Property, plant and equipment assets are held at cost less accumulated depreciation and accumulated impairment losses.

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

Plant and equipment

- 7.5% to 20% on cost

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

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

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell and due allowance is made for obsolete and excess inventories. Inventories are accounted for on a first-in-first-out basis.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

Basic financial liabilities, including trade and other 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 receipts discounted at a market rate of interest.

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. Accounts 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.

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

Transactions in foreign currencies are converted to sterling at the exchange rates ruling at the date of transaction. Gains and losses arising in the normal course of trade are included in the income statement. Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the financial reporting date.

Pension costs and other post-retirement benefits

The company is a member of the Langham Industries Group Personal Pension Plan. This Plan is a money purchase scheme and contributions payable for the year are charged to the income statement. Assets for the Plan are held in separate trustee administered funds.

Grants receivable

Grants received as contributions to revenue expenditure are credited to the income statement in the period in which the related expenditure is incurred.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors believe that this basis is appropriate because the company's ultimate parent company, Langham Industries Limited, has stated that it will provide financial support for the foreseeable future.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

3.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 January 2024

119,021

Additions

2,592

At 31 December 2024

121,613

DEPRECIATION

At 1 January 2024

100,460

Charge for year

6,976

At 31 December 2024

107,436

NET BOOK VALUE

At 31 December 2024

14,177

At 31 December 2023

18,561

4.	INVENTORIES

2024

2023

£

£

Raw materials and consumables

1,932,688

1,288,778

Finished goods

-

40,175

1,932,688

1,328,953

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

216,214

187,126

Other debtors and prepayments

73,657

79,033

Amounts owed by group undertakings

75,673

36,080

Payments made on account

95,978

110,893

461,522

413,132

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

181,035

121,488

Trade creditors

218,271

281,611

Amounts owed to group undertakings

726,463

199,781

Other taxes and social security

9,467

8,845

Other creditors and accruals

24,018

11,769

Payments received on account

625,624

482,938

1,784,878

1,106,432

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors and accruals

613,464

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,350,000

Ordinary shares

£1

1,350,000

1,350,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

10.	CONTINGENT LIABILITIES

Contingent liabilities exist in respect of advance payments, guarantees and indemnities amounting to £43,710 (2023 - £nil).

There are unlimited inter-company guarantees given by the company, nine fellow subsidiary companies and the parent company, in favour of Barclays plc. The total amount secured in respect of fellow group companies as at 31 December 2024, excluding this company, was £nil (2023 - £1,080).

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is Langham Industries Limited which is registered in England and Wales. The ultimate parent company's registered office is the same as that shown on the company information page.

The ultimate controlling party of Langham Industries Limited is the Langham family.