REGISTERED NUMBER: 02029052 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

A & F SPRINKLERS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

J M Stansfield

Mrs L K Stansfield

D L Parker

J O Whitlock

M H Parkinson

N O'Connor

SECRETARY:

Mrs L K Stansfield

REGISTERED OFFICE:

Unit 4, Gorrels Way

Trans-Pennine Trading Estate

Rochdale

OL11 2PX

REGISTERED NUMBER:

02029052 (England and Wales)

AUDITORS:

Cresswells Accountants (UK) Limited

Chartered Accountants

and Statutory Auditors

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

The directors present their strategic report of the company and the group for the year ended 31st March 2025.

The principal activity of the companies continues to be that of:

A&F Sprinklers Limited - Designers and Installers of fire sprinkler protection systems, along with the maintenance and servicing of them.

A&F Sprinklers (Ireland) Limited - Installation of fire sprinklers.

Fire-Mech Fixings Limited - Manufacturers of bespoke bracketry and supply of components for fire sprinklers and other mechanical applications.

REVIEW OF BUSINESS

Turnover is up 3% from the previous year and the profit was significantly higher. This was a key focus and was done by carrying out full reviews of departments, supply chain and internal procedures.

Whilst our core business is warehousing and logistics, we have made strategic decisions in terms of different sectors we are engaging with.

The order book is growing and we have guaranteed main contracts jobs already secured into late 2026. Our other departments have many returning customers and works on-going and guaranteed for the medium to long term.

The fire sprinkler market is currently very buoyant. Thanks to our extensive stock holdings and exceptional customer service, we have strengthened relationships with existing customers while welcoming and expanding our base of new customers.

As ever, we are regularly monitoring our financial performance and being fluid in our decision making which has undoubtedly allowed us to continue improve and regularly analyse the business.

The prospects remain very encouraging.

KEY PERFORMANCE INDICATORS

The company's key performance indicators during the year were as follows:

2025

2024

Change

Turnover

£41.1m

£39.7m

£1.36m

Gross Profit

£18.5m

£16.9m

£1.6m

Gross Profit Margin

45.0%

42.5%

2.5%

EBITDA

£5.3m

£3.8m

£1.5m

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks facing the Company are the competitive environment in which the Company trades, but efforts are made to stay abridge of the industry and to react in a specific way when and if required.

FINANCIAL RISK MANAGEMENT

The Company's operations expose it to a variety of financial risks that include the effects of credit risk, including that with cash and deposits. Customers are continually credit checked through our in-house processes.

We also closely monitor the business via internal KPI's which are reported and discussed in the Directors meetings along with current developments and financial reports.

EMPLOYEE INVOLVEMENT

The group keeps its employees up to date on the matters relevant to them via regular staff meetings.

The training and development of the staff is also important to the group. All staff are given an induction when they start and their training needs are assessed and reviewed throughout the period.

ON BEHALF OF THE BOARD:

D L Parker - Director

9th September 2025

The directors present their report with the financial statements of the company and the group for the year ended 31st March 2025.

DIVIDENDS

Interim dividends per share were paid during the year as follows:

A Ordinary £1

-

£143.77

D Ordinary £1

-

£257.674

B Ordinary £1

-

£124.674

C Ordinary £1

- £124.674

The total distribution of dividends for the year ended 31st March 2025 will be £ 2,396,144 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report.

J M Stansfield

Mrs L K Stansfield

D L Parker

J O Whitlock

M H Parkinson

N O'Connor

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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), 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 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 company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Cresswells Accountants (UK) Limited Chartered Accountants and Statutory Auditors will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D L Parker - Director

9th September 2025

Opinion

We have audited the financial statements of A & F Sprinklers Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 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 affairs as at 31st March 2025 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 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 group's and 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page four, 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 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.

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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures include the following:

-

we obtained an understanding of the legal and regulatory frameworks applicable to the Group and the sector in which it operates. We determined the following laws and regulations were most significant: The Companies Act 2006, FRS 102 and Health and Safety Act.

-

we obtained an understanding of how the Group is complying with those legal and regulatory frameworks by making inquiries to the management.

-

we assessed the susceptibility of the Group's financial statements to material misstatement including how fraud might occur. Audit procedures performed by the audit team included:

-

identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud.

-

understanding how those charged with governance considered and addressed the potential of override of controls or other inappropriate influence over the financial reporting process.

-

challenging assumptions and judgements made by management in its significant accounting estimates.

-

identifying and testing journal entries.

-

assessing the extent of compliance with the relevant laws and regulations.

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 Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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.

Sarah Helliwell BFP ACA FCCA FMAAT (Senior Statutory Auditor)

for and on behalf of Cresswells Accountants (UK) Limited

Chartered Accountants

and Statutory Auditors

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

15th September 2025

TURNOVER

3

41,095,657

39,732,501

Cost of sales

22,610,586

22,853,828

GROSS PROFIT

18,485,071

16,878,673

Administrative expenses

13,703,230

13,541,824

4,781,841

3,336,849

Other operating income

78,235

30,428

OPERATING PROFIT

5

4,860,076

3,367,277

Interest receivable and similar income

14,473

14,268

4,874,549

3,381,545

Interest payable and similar expenses

6

47,831

30,883

PROFIT BEFORE TAXATION

4,826,718

3,350,662

Tax on profit

7

1,057,000

733,781

PROFIT FOR THE FINANCIAL YEAR

3,769,718

2,616,881

Profit attributable to:

Owners of the parent

3,739,660

2,585,003

Non-controlling interests

30,058

31,878

3,769,718

2,616,881

PROFIT FOR THE YEAR

3,769,718

2,616,881

OTHER COMPREHENSIVE INCOME

Minority Interest dividend

-

152,475

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

152,475

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,769,718

2,769,356

Total comprehensive income attributable to:

Owners of the parent

3,739,660

2,737,478

Non-controlling interests

30,058

31,878

3,769,718

2,769,356

FIXED ASSETS

Tangible assets

10

1,456,299

1,694,167

Investments

11

-

-

1,456,299

1,694,167

CURRENT ASSETS

Stocks

12

2,488,125

2,510,167

Debtors

13

9,437,079

9,848,337

Cash at bank

1,904,348

2,072,589

13,829,552

14,431,093

CREDITORS

Amounts falling due within one year

14

7,557,333

9,579,967

NET CURRENT ASSETS

6,272,219

4,851,126

TOTAL ASSETS LESS CURRENT LIABILITIES

7,728,518

6,545,293

CREDITORS

Amounts falling due after more than one year

15

(201,356

)

(340,462

)

PROVISIONS FOR LIABILITIES

19

(262,812

)

(298,055

)

NET ASSETS

7,264,350

5,906,776

CAPITAL AND RESERVES

Called up share capital

20

11,130

11,130

Share premium

21

147,953

147,953

Retained earnings

21

7,084,512

5,740,996

SHAREHOLDERS' FUNDS

7,243,595

5,900,079

NON-CONTROLLING INTERESTS

22

20,755

6,697

TOTAL EQUITY

7,264,350

5,906,776

The financial statements were approved by the Board of Directors and authorised for issue on 9th September 2025 and were signed on its behalf by:

D L Parker - Director

FIXED ASSETS

Tangible assets

10

819,516

1,043,907

Investments

11

1,171

1,171

820,687

1,045,078

CURRENT ASSETS

Debtors

13

7,501,935

7,599,726

Cash at bank

1,761,936

1,863,622

9,263,871

9,463,348

CREDITORS

Amounts falling due within one year

14

5,158,577

6,595,106

NET CURRENT ASSETS

4,105,294

2,868,242

TOTAL ASSETS LESS CURRENT LIABILITIES

4,925,981

3,913,320

CREDITORS

Amounts falling due after more than one year

15

-

(42,238

)

PROVISIONS FOR LIABILITIES

19

(113,081

)

(149,429

)

NET ASSETS

4,812,900

3,721,653

CAPITAL AND RESERVES

Called up share capital

20

11,130

11,130

Share premium

21

147,953

147,953

Retained earnings

21

4,653,817

3,562,570

SHAREHOLDERS' FUNDS

4,812,900

3,721,653

Company's profit for the financial year

3,487,391

2,187,434

The financial statements were approved by the Board of Directors and authorised for issue on 9th September 2025 and were signed on its behalf by:

D L Parker - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1st April 2023

11,130

5,666,149

147,953

Changes in equity

Dividends

-

(2,662,631

)

-

Total comprehensive income

-

2,737,478

-

Balance at 31st March 2024

11,130

5,740,996

147,953

Changes in equity

Dividends

-

(2,396,144

)

-

Total comprehensive income

-

3,739,660

-

Balance at 31st March 2025

11,130

7,084,512

147,953

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1st April 2023

5,825,232

172,294

5,997,526

Changes in equity

Dividends

(2,662,631

)

(197,475

)

(2,860,106

)

Total comprehensive income

2,737,478

31,878

2,769,356

Balance at 31st March 2024

5,900,079

6,697

5,906,776

Changes in equity

Dividends

(2,396,144

)

(16,000

)

(2,412,144

)

Total comprehensive income

3,739,660

30,058

3,769,718

Balance at 31st March 2025

7,243,595

20,755

7,264,350

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1st April 2023

11,130

4,037,767

147,953

4,196,850

Changes in equity

Dividends

-

(2,662,631

)

-

(2,662,631

)

Total comprehensive income

-

2,187,434

-

2,187,434

Balance at 31st March 2024

11,130

3,562,570

147,953

3,721,653

Changes in equity

Dividends

-

(2,396,144

)

-

(2,396,144

)

Total comprehensive income

-

3,487,391

-

3,487,391

Balance at 31st March 2025

11,130

4,653,817

147,953

4,812,900

Cash flows from operating activities

Cash generated from operations

1

3,483,152

5,385,236

Interest paid

(25,786

)

(12,438

)

Interest element of hire purchase payments paid

(22,045

)

(18,445

)

Tax paid

(876,896

)

(742,294

)

Net cash from operating activities

2,558,425

4,612,059

Cash flows from investing activities

Purchase of tangible fixed assets

(215,569

)

(877,242

)

Sale of tangible fixed assets

170,942

102,501

Interest received

14,473

14,268

Net cash from investing activities

(30,154

)

(760,473

)

Cash flows from financing activities

New loans in year

-

200,000

Loan repayments in year

(36,098

)

(28,308

)

Capital repayments in year

(173,196

)

(142,940

)

Amount withdrawn by directors

(75,074

)

-

Subsidiary minority Interest dividend

(16,000

)

(45,000

)

Equity dividends paid

(2,396,144

)

(2,662,631

)

Net cash from financing activities

(2,696,512

)

(2,678,879

)

(Decrease)/increase in cash and cash equivalents

(168,241

)

1,172,707

Cash and cash equivalents at beginning of year

2

2,072,589

899,882

Cash and cash equivalents at end of year

2

1,904,348

2,072,589

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

4,826,718

3,350,662

Depreciation charges

341,211

378,231

Profit on disposal of fixed assets

(58,716

)

(23,937

)

Government grants

(2,080

)

(2,080

)

Finance costs

47,831

30,883

Finance income

(14,473

)

(14,268

)

5,140,491

3,719,491

Decrease/(increase) in stocks

22,042

(248,442

)

Decrease in trade and other debtors

363,331

1,270,495

(Decrease)/increase in trade and other creditors

(2,042,712

)

643,692

Cash generated from operations

3,483,152

5,385,236

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

1,904,348

2,072,589

Year ended 31st March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,072,589

899,882

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,072,589

(168,241

)

1,904,348

2,072,589

(168,241

)

1,904,348

Debt

Finance leases

(334,459

)

173,196

(161,263

)

Debts falling due within 1 year

(41,104

)

-

(41,104

)

Debts falling due after 1 year

(130,587

)

36,098

(94,489

)

(506,150

)

209,294

(296,856

)

Total

1,566,439

41,053

1,607,492