Battle,Hayward and Bower,Limited Company accounts

COMPANY REGISTRATION NUMBER: 00274745

BATTLE,HAYWARD AND BOWER,LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

BATTLE,HAYWARD AND BOWER,LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the member	6

Statement of comprehensive income	10

Statement of financial position	11

Statement of changes in equity	12

Notes to the financial statements	13

BATTLE,HAYWARD AND BOWER,LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	R M Dewey
	A Clarke

Company secretary	R M Dewey

Registered office	Crofton Drive
	Lincoln
	Lincs
	LN3 4NP

Auditor	Streets Audit LLP
	Chartered accountants & statutory auditor
	Windsor House
	A1 Business Park at
	Long Bennington
	Notts
	NG23 5JR

BATTLE,HAYWARD AND BOWER,LIMITED

STRATEGIC REPORT

YEAR ENDED 31 DECEMBER 2024

We aim to present a balanced and comprehensive view of the development and performance of our business during the period and its position at the period end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face. Business Review The company continues to manufacture and wholesale a range of animal health and equestrian products. During 2024 and into 2025 we have continued to increase our product range whilst maintaining a keen eye on phasing out low margin and slow moving products in order to release cash from working capital. We consider our key financial performance indicators to be those that communicate the financial performance and strength of the company as a whole, in particular turnover, gross margin, reported operating margin and debt service. These indicators are reviewed via monthly management accounts. We have reported a small decrease in turnover of 1% to £21.9m in 2024. The gross margin percentage has improved from 15.1% to 16.2% in the current year. The company continues to operate comfortably within all of its banking covenants. Demand for our products has remained strong as has our customers' ability to pay. Our supply chain has remained resilient with only minor disruptions. Cash generation has remained strong and our bankers remain supportive. Credit Risk The Directors seek to manage credit risk by dealing with established customers or otherwise checking the credit-worthiness of new customers, establishing clear contractual relationships with those customers and by identifying and addressing any credit issues arising in a timely manner. Currency Risk The Directors minimise the risk to foreign currency fluctuations by invoicing and purchasing in sterling where possible. Liquidity Risk The Directors seek to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Interest Rate Risk The exposure to the risk of changes in interest rates relates primarily to bank borrowings. The Directors seek to manage this risk by the use of a combination of variable and fixed rates. Supply Chain Risks In common with all similar businesses, we are experiencing continued challenges in our global supply chain affecting availability of product and cost. Every effort is being made to mitigate the impact on prices and maintain product availability. As for many businesses of our size, the business environment in which we operate continues to be challenging with good levels of competition from other wholesalers and manufacturers. We are of course subject to the vagaries of weather, to consumer spending patterns and consumers' overall levels of disposable income within our economy. The strength of our offering is in our ability to meet the needs of our customers and alongside this, the continued increase in our customer base forms an effective means of managing economic risk in the current environment. Our key financial risk is the ability to continue to generate and access sufficient funds to pay down debt and satisfy our ongoing business requirements. With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control. However in terms of what we can foresee at present, we remain very confident in the prospects of the business and have enjoyed good results so far in 2025.

This report was approved by the board of directors on 25 August 2025 and signed on behalf of the board by:

R M Dewey

Director

Registered office:

Crofton Drive

Lincoln

Lincs

LN3 4NP

BATTLE,HAYWARD AND BOWER,LIMITED

DIRECTORS' REPORT

YEAR ENDED 31 DECEMBER 2024

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

Directors

The directors who served the company during the year were as follows:

R M Dewey
A Clarke

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Disclosure of information in the strategic report

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' 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 the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 25 August 2025 and signed on behalf of the board by:

R M Dewey

Director

Registered office:

Crofton Drive

Lincoln

Lincs

LN3 4NP

BATTLE,HAYWARD AND BOWER,LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF BATTLE,HAYWARD AND BOWER,LIMITED

YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of Battle,Hayward and Bower,Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the 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 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: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the 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. 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: 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 that we identified the material laws and regulations applicable to the group through discussions with management, and from our commercial knowledge and experience of the company and various sectors in which it operates. We then assessed the extent of compliance with these laws and regulations through making enquiries of of management. We then assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls we tested journal entries to identify unusual transactions, we assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and we investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documentation. 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, review of correspondence with HMRC and the inspection of regulatory and legal correspondence. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. Use of our report

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

MARK BRADSHAW

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered accountants & statutory auditor

Windsor House

A1 Business Park at

Long Bennington

Notts

NG23 5JR

15 September 2025

BATTLE,HAYWARD AND BOWER,LIMITED

STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED 31 DECEMBER 2024

		2024	2023
Note		£	£
Turnover	4	21,949,601	22,180,133

Cost of sales	( 18,402,655)	( 18,836,368)
	---------------	---------------
Gross profit	3,546,946	3,343,765

Administrative expenses		( 2,943,481)	( 2,678,406)
		-------------	-------------
Operating profit	5	603,465	665,359

Other interest receivable and similar income	9	–	278
Interest payable and similar expenses	10	( 400,209)	( 347,050)
		-------------	-------------
Profit before taxation		203,256	318,587

Tax on profit	11	( 64,252)	( 113,354)
		----------	----------
Profit for the financial year and total comprehensive income		139,004	205,233
		----------	----------

All the activities of the company are from continuing operations.

BATTLE,HAYWARD AND BOWER,LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	14		3,112,287	3,363,223

Current assets

Stocks	15	6,632,275	7,213,301
Debtors	16	13,585,053	13,579,524
Cash at bank and in hand		248	2,405
		---------------	---------------
		20,217,576	20,795,230

Creditors: amounts falling due within one year	17	( 6,751,798)		( 7,509,860)
		---------------		---------------
Net current assets			13,465,778	13,285,370
			---------------	---------------
Total assets less current liabilities			16,578,065	16,648,593

Creditors: amounts falling due after more than one year	18		( 1,084,632)	( 1,357,390)

Provisions

Taxation including deferred tax	20	( 266,100)	( 201,848)
		---------------	---------------
Net assets		15,227,333	15,089,355
		---------------	---------------

Capital and reserves

Called up share capital	23	122,000	122,000
Share premium account	24	1,855	1,855
Profit and loss account	24	15,103,478	14,965,500
		---------------	---------------
Shareholder funds		15,227,333	15,089,355
		---------------	---------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 25 August 2025 , and are signed on behalf of the board by:

R M Dewey

Director

Company registration number: 00274745

BATTLE,HAYWARD AND BOWER,LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 DECEMBER 2024

		Called up share capital	Share premium account	Profit and loss account	Total
		£	£	£	£
At 1 January 2023		122,000	1,855	14,762,320	14,886,175

Profit for the year				205,233	205,233
		----------	-------	--------------	--------------
Total comprehensive income for the year		–	–	205,233	205,233

Dividends paid and payable	12	–	–	( 2,053)	( 2,053)
		----------	-------	--------------	--------------
Total investments by and distributions to owners		–	–	( 2,053)	( 2,053)

At 31 December 2023		122,000	1,855	14,965,500	15,089,355

Profit for the year				139,004	139,004
		----------	-------	--------------	--------------
Total comprehensive income for the year		–	–	139,004	139,004

Dividends paid and payable	12	–	–	( 1,026)	( 1,026)
		----	----	-------	-------
Total investments by and distributions to owners		–	–	( 1,026)	( 1,026)

		----------	-------	--------------	--------------
At 31 December 2024		122,000	1,855	15,103,478	15,227,333
		----------	-------	--------------	--------------

BATTLE,HAYWARD AND BOWER,LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crofton Drive, Lincoln, Lincs, LN3 4NP.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of DC Holdings (Lincoln) Limited which can be obtained from the registered office of this company. As such, advantage has been taken of the following disclosure exemption available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements There are no significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies. - Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Those that have the most significant effect on the amounts recognised in the financial statements are as follows: - Provision for obsolete stock of £nil (2023 - £nil) whereby the Directors make an estimate for certain stock lines for which the cost price may not be recoverable and provisioning may be required. Management considers the nature and condition of the stocks when making their assessment. - Manufactured finished goods valuation of £279,366 (2023 - £288,143) whereby the Directors make an estimate of the element of factory overheads to include within the valuation. When making their assessment, management consider all applicable factory costs and the apportionment to stock manufacture.

Investments

Investments are initially recorded at cost and subsequently included in the accounts at the lower of cost and net recoverable amount.

Income from investments is included in the profit and loss account in the accounting period to which it relates.

Revenue recognition

Turnover represents income from customers in respect of the sale of goods and services, net of value added tax. Income is recognised upon despatch of goods.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Intellectual Property	-	20% straight line
Software	-	10%-20% reducing balance and 20%-33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset over the useful economic life of that asset as follows:

Leasehold Property	-	Straight line over the term of the lease
Plant and Machinery	-	10% reducing balance
Fixtures and Fittings	-	20%-50% reducing balance
Motor Vehicles	-	10% reducing balance
IT Equipment	-	20%-33% straight line

Stocks

All stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. In the case of raw materials, cost is calculated on a First-In-First-Out basis. In the case of manufactured finished goods, cost comprises of raw materials, direct labour and an element of factory overheads.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

The company operates a defined contribution pension scheme for all employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Sale of goods	21,949,601	22,180,133
	---------------	---------------

The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2024	2023
	£	£
United Kingdom	21,433,750	21,750,670
Overseas	515,851	429,463
	---------------	---------------
	21,949,601	22,180,133
	---------------	---------------

5. Operating profit

Operating profit or loss is stated after charging/crediting:

	2024	2023
	£	£
Depreciation of tangible assets	310,796	183,557
Gains on disposal of tangible assets	–	( 5,747)
Impairment of trade debtors	73	(64,834)
Operating lease costs	112,876	267,984
	----------	----------

6. Auditor's remuneration

	2024	2023
	£	£
Fees payable for the audit of the financial statements	16,000	17,350
	---------	---------

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2024	2023
	No.	No.
Production staff	105	107
Distribution staff	7	8
Administrative staff	48	31
Management staff	2	2
	----	----
	162	148
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	2,620,793	2,769,837
Social security costs	229,502	228,606
Other pension costs	159,498	141,825
	-------------	-------------
	3,009,793	3,140,268
	-------------	-------------

8. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2024	2023
	£	£
Remuneration	202,707	209,182
Company contributions to defined contribution pension plans	120,000	120,000
	----------	----------
	322,707	329,182
	----------	----------

The number of directors who accrued benefits under company pension plans was as follows:

	2024	2023
	No.	No.
Defined contribution plans	2	2
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2024	2023
	£	£
Aggregate remuneration	98,118	110,882
Company contributions to defined contribution pension plans	60,000	60,000
	----------	----------
	158,118	170,882
	----------	----------

9. Other interest receivable and similar income

	2024	2023
	£	£
Interest on cash and cash equivalents	–	278
	----	----

10. Interest payable and similar expenses

	2024	2023
	£	£
Interest on banks loans and overdrafts	292,461	321,688
Interest on obligations under finance leases and hire purchase contracts	99,479	25,362
Other interest payable and similar charges	8,269	–
	----------	----------
	400,209	347,050
	----------	----------

11. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	64,252	113,354
	---------	----------
Tax on profit	64,252	113,354
	---------	----------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 23.52 %).

	2024	2023
	£	£
Profit on ordinary activities before taxation	203,256	318,587
	----------	----------
Profit on ordinary activities by rate of tax	50,814	74,933
Effect of expenses not deductible for tax purposes	9,709	1,927
Effect of capital allowances and depreciation	3,729	3,494
Effect of different UK tax rates on some earnings	–	33,000
	----------	----------
Tax on profit	64,252	113,354
	----------	----------

12. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2024	2023
	£	£
Equity dividends on ordinary shares	1,026	2,053
	-------	-------

13. Intangible assets

	Development costs	Software	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	44,705	66,865	111,570
	---------	---------	----------
Amortisation
At 1 January 2024 and 31 December 2024	44,705	66,865	111,570
	---------	---------	----------
Carrying amount
At 31 December 2024	–	–	–
	---------	---------	----------
At 31 December 2023	–	–	–
	---------	---------	----------

14. Tangible assets

	Leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	IT equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	1,478,412	3,361,941	666,347	398,112	259,669	6,164,481
Additions	–	53,994	6,317	–	( 451)	59,860
	-------------	-------------	----------	----------	----------	-------------
At 31 Dec 2024	1,478,412	3,415,935	672,664	398,112	259,218	6,224,341
	-------------	-------------	----------	----------	----------	-------------
Depreciation
At 1 Jan 2024	615,660	1,329,185	637,618	74,787	144,008	2,801,258
Charge for the year	13,197	225,685	8,192	28,030	35,692	310,796
	-------------	-------------	----------	----------	----------	-------------
At 31 Dec 2024	628,857	1,554,870	645,810	102,817	179,700	3,112,054
	-------------	-------------	----------	----------	----------	-------------
Carrying amount
At 31 Dec 2024	849,555	1,861,065	26,854	295,295	79,518	3,112,287
	-------------	-------------	----------	----------	----------	-------------
At 31 Dec 2023	862,752	2,032,756	28,729	323,325	115,661	3,363,223
	-------------	-------------	----------	----------	----------	-------------

15. Stocks

	2024	2023
	£	£
Raw materials and consumables	899,476	918,186
Work in progress	96,766	81,903
Finished goods and goods for resale	5,636,033	6,213,212
	-------------	-------------
	6,632,275	7,213,301
	-------------	-------------

16. Debtors

	2024	2023
	£	£
Trade debtors	2,125,181	2,310,409
Amounts owed by group undertakings	10,884,259	10,884,259
Prepayments and accrued income	416,601	384,856
Other debtors	159,012	–
	---------------	---------------
	13,585,053	13,579,524
	---------------	---------------

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

17. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	419	–
Trade creditors	2,083,654	2,404,749
Accruals and deferred income	64,695	153,293
Corporation tax	1,900	8,373
Social security and other taxes	414,299	462,300
Obligations under finance leases and hire purchase contracts	361,700	450,641
Other creditors	3,825,131	4,030,504
	-------------	-------------
	6,751,798	7,509,860
	-------------	-------------

Included within other creditors is a stock financing facility amounting to £3,777,363 (2023: £3,986,306) which is secured by the following charges over company assets held by the company's bankers:

- a fixed and floating charge over the assets of the company; and

- a Legal Charge over Victoria Works, Crofton Drive, Lincoln.

The hire purchase liabilities are secured on the assets to which they relate.

18. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Obligations under finance leases and hire purchase contracts	1,084,632	1,357,390
	-------------	-------------

The hire purchase liabilities are secured on the assets to which they relate.

19. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2024	2023
	£	£
Not later than 1 year	361,700	450,641
Later than 1 year and not later than 5 years	1,084,632	1,357,390
	-------------	-------------
	1,446,332	1,808,031
	-------------	-------------

20. Provisions

	Deferred tax (note 21)
	£
At 1 January 2024	201,848
Additions	64,252
	----------
At 31 December 2024	266,100
	----------

21. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 20)	266,100	201,848
	----------	----------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	556,748	615,259
Unused tax losses	( 275,190)	( 394,299)
Provisions	( 15,458)	( 19,112)
	----------	----------
	266,100	201,848
	----------	----------

The reversal of the deferred tax liability is expected to occur during the year beginning after the reporting period as capital allowances and depreciation charges offset each other in tax calculations.

22. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 159,498 (2023: £ 141,825 ).

23. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	122,000	122,000	122,000	122,000
	----------	----------	----------	----------

24. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.

25. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	95,355	112,209
Later than 1 year and not later than 5 years	248,558	299,597
Later than 5 years	2,041,956	2,090,574
	-------------	-------------
	2,385,869	2,502,380
	-------------	-------------

26. Related party transactions

Control The company is a 100% subsidiary of Battles Limited, a company incorporated in England & Wales. The ultimate controlling party is DC Holdings (Lincoln) Limited which owns 100% of the issued share capital of Battles Limited. DC Holdings (Lincoln) Limited is controlled by R M Dewey and A Clarke . The directors have taken advantage of the exemption in FRS 102 from disclosing related party transactions on the grounds that the company is a subsidiary undertaking where 100% of the voting rights are controlled within the group, and the consolidated financial statements in which the subsidiary undertaking is included are publicly available.