ACCOUNTS - Final Accounts preparation

OPERATING PROFIT

The operating profit is stated after charging:

Registered number: 01536154

ATKINSON NORTHERN LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

ATKINSON NORTHERN LIMITED

COMPANY INFORMATION

DIRECTORS	Mr J E Atkinson
	Mr J J Boyd FCA
	Mr M R Atkinson
	Mr J D E Atkinson
	Mr J A Atkinson
	Mrs S M Gilbertson
	Mr C J Gilbertson


REGISTERED NUMBER	01536154


REGISTERED OFFICE	Thornton House
	Cargo Fleet Lane
	Middlesbrough
	TS3 8DE


INDEPENDENT AUDITORS	Waltons Business Advisers Limited
	Chartered Accountants & Statutory Auditors
	Maritime House
	Harbour Walk
	The Marina
	Hartlepool
	Teesside
	TS24 0UX

ATKINSON NORTHERN LIMITED

CONTENTS

	Page
Directors' report	1 - 5
Group strategic report	6 - 8
Independent auditors' report	9 - 12
Consolidated profit and loss account	13
Consolidated balance sheet	14 - 15
Company balance sheet	16
Consolidated statement of changes in equity	17
Company statement of changes in equity	18
Consolidated statement of cash flows	19 - 20
Consolidated analysis of net debt	21
Notes to the financial statements	22 - 42

ATKINSON NORTHERN 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 judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙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 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.

PRINCIPAL ACTIVITY

During the year the Group was engaged in the trade of builders' merchants and in property investment.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £4,670,109 (2023 - £4,675,959).

Dividends of £1,356,650 were paid during the year.

DIRECTORS

The directors who served during the year were:

Mr J E Atkinson

Mr J J Boyd FCA

Mr M R Atkinson

Mr J D E Atkinson

Mr J A Atkinson

Mrs S M Gilbertson

Mr C J Gilbertson

Page 1

ATKINSON NORTHERN LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

HEALTH AND SAFETY OF EMPLOYEES

The well-being of the Group’s employees is safeguarded through strict adherence to health and safety standards. The Safety, Health and Welfare at Work Act 1989 imposes certain requirements on employers and the Group has taken the necessary action to ensure compliance with the Act, including the adoption of a safety statement.

ENVIRONMENTAL MATTERS

The Group will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The Group has complied with all applicable legislation and regulations.

FUTURE DEVELOPMENTS

The Group aims to continue increasing its share of the construction materials market across the north of England by opening appropriately located branches and focussing on improving its online offering to customers and acquiring good quality freehold property.

RESEARCH AND DEVELOPMENT ACTIVITIES

Research & development activities continue to focus on the increasingly significant area of on-line sales.

ENGAGEMENT WITH EMPLOYEES

The directors recognise the importance of good communication and relationships with employees and carrying
out regular consultations to take employees' views into account.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The Group recognises the importance of its position within the supply chain and the need to deal with suppliers and customers ethically and to represent the company’s values for the long term success of the business.
Consideration is taken of the company’s impact on the local communities and it acts fairly and responsibly with both suppliers and customers alike. Three members of the board engage regularly with key customers and are kept informed of customer performance and activity through direct reports from management teams.
J T Atkinson & Sons Limited is a member of an independent builders merchant buying group, Fortis Merchants Limited, for which two directors are directly involved in negotiations and relationship management with key suppliers.

DISABLED EMPLOYEES

It is Group policy to give full and fair consideration to the employment needs of disabled persons and to comply
with any legislation with regard to disabled persons, and to assist in their training and career development.

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

Third party indemnity insurance policy was in place for the benefit of the directors during the year.

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENERGY EFFICIENCY ACTION

The Group's greenhouse gas emissions and energy consumption for the year are as follows:

Page 2

ATKINSON NORTHERN LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

	Units	Current reporting year (2024) Location based	Current reporting year (2024) Market based (voluntary)	Comparison reporting year (2023) Location Based	Comparison reporting year (2023) Market based (voluntary)
Emissions from combustion of gas (Scope 1)	tCO2e	170	0	188	0
Emissions from combustion of fuel for transport purposes (Scope 1)	tCO2e	1,790	1,790	2,664	2,664
Emissions from purchased electricity (Scope 2)	tCO2e	355	0	172	0
Emissions from generation of electricity that is consumed in a transmission and distribution system for which the company does not own or control (Scope 3)	tCO2e	31	0	15	0
Emissions from business travel in rental cars or employee-owned vehicles where company is responsible for purchasing the fuel (Scope 3)	tCO2e	0	0	0	0
Total Gross emissions	tCO2e	2,346	1,790	3,039	2,664
Energy consumption used to calculate above emissions	kWh	10,168,866	7,540,067	14,332,364	12,487,711
Intensity Measurement	(£M) Annual Turnover	136	136	134	134
Intensity Ratio	tCO2e/ (£M) Annual Turnover	17.25	13.16	22.68	19.88
Total Gas Usage	kWh	913,297	0	1,011,997	0
Total Electricity Usage	kWh	1,715,502	0	832,656	0
Total Transport Usage	kWh	6,315,145	6,315,145	11,156,666	11,156,666
On site transport usage	kWh	1,224,922	1,224,922	1,334,045	1,331,045
Solar generation & Biomass	kWh	added within electricity usage	0	790,567	0
Scope 1 Gas Emissions	tCO2e	170	0	188	0
Scope 2 Electricity Emissions	tCO2e	355.19	0	172	0
Scope 3 Electricity Emissions	tCO2e	31.39	0	15	0
Scope 1 Transport Emissions	tCO2e	1,510	1,510	2,349	2,349
Scope 3 Transport Emissions	tCO2e	0	0	0	0
On site Transport Emissions	tCO2e	280	280	315	315

Page 3

ATKINSON NORTHERN LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

The SECR information disclosed pertains exclusively to J T Atkinson & Sons Limited, which serves as the principal trading entity within the Group.
J T Atkinson & Sons Limited have followed the 2019 HM Government Environmental Reporting Guidelines and have used the 2024 UK Government's Conversion Factors for Company Reporting. An operational approach has been used to to define boundaries.
The primary source for energy consumption is consolidated invoices and supplier interval data.
The electricity and gas data has been recorded over a 12-month period from Jan 2024 to Dec 2024. The data was collated directly from monthly invoices. The reporting spreadsheet provides a breakdown of monthly and annual consumption for each meter in KWh. Where consumption has gone beyond the reporting period a pro rata figure has been used.
Company transport data was provided by J T Atkinson & Sons Ltd, data was generated over the course of supply period. Transport has been outlined according to total mileage for all vehicle types (Van, HGV, diesel and petrol cars). Emissions generated from Forklift trucks have been outlined using number of hours used within the reporting period. To calculate relevant emissions for forklift usage, an estimate of 2.4 litres of diesel per hour of usage and 2.8 litres of LPG per hour of usage has been used.
Burning oil has also been recorded, with usage staying constant from previous year and recorded as such.
All J T Atkinson & Sons Ltd gas and electric sites are supplied by green contracts, please see market-based figures outlining this. J T Atkinson & Sons Limited have continued with PV installations and replacement of company cars with hybrid or electric vehicles.

MATTERS COVERED IN THE STRATEGIC REPORT

The following matters are included in the strategic report: the business review, the principal risks and uncertainties and financial performance indicators.

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

Since the balance sheet date, a newly incorporated company, PTH (Moulton) Limited, became a 100% owned subsidiary of Northern General Properties Limited.

AUDITORS

The auditors, Waltons Business Advisers Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 4

ATKINSON NORTHERN LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

This report was approved by the board on 31 July 2025 and signed on its behalf.

Mr J E Atkinson

Director

Page 5

ATKINSON NORTHERN LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Atkinson Northern Limited is a private limited company, incorporated in the UK and registered in England and Wales. Its trading subsidiaries are J T Atkinson & Sons Limited whose principal activity is the operation of a builders merchant and Northern General Properties Limited whose principal activity is the ownership and rental of properties for investment purposes and group useage.

BUSINESS REVIEW

The group achieved an operating profit of £7.1m and the group’s net assets rose from £73.1m to £76.5m. Group sales rose by 1.5%, the Directors view the financial performance as satisfactory given the challenges presented by turbulent economic conditions in the year. The Directors expect similar market conditions to persist throughout 2025. Atkinson Northern remains committed to providing finance to fund the growth of its subsidiaries J T Atkinson & Sons Limited and Northern General Properties Limited.
The builders merchant strategy continues to be increasing the market share of J T Atkinson & Sons Limited and maintaining the position as a leading supplier of construction materials within the existing trading area across the north of England. The directors are pleased to see J T Atkinson & Sons Limited branches which have been opened in recent years reach maturity and make meaningful contributions to the overall branch network.
Northern General Properties Limited remains committed to providing good quality premises for the builders merchants. The property valuation carried out in 2022 was reused in the year, as it was felt unlikley that this would have materially changed, resulting in no movement in the revaluation reserve.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties remain the level of demand in the repair, maintenance, improvements and construction markets in the North of England and the competitive pressures in those markets.

FINANCIAL KEY PERFORMANCE INDICATORS

The board monitors performance using a range of indicators, some of the most significant of which are as follows :-

Key Performance Indicators	2024	2023	2022	2021	2020
Sales growth	1.5%	-2.2%	3.8%	25.8%	8.6%
Gross margin growth	4.1%	-3.3%	-1.4%	25.3%	7.9%
Gross profit %	29.1%	28.4%	29.7%	31.3%	31.4%
Employee cost as a % of gross margin	50.4%	53.4%	47.7%	40.4%	42.5%

Page 6

ATKINSON NORTHERN LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

DIRECTORS' STATEMENT OF COMPLIANCE WITH DUTY TO PROMOTE THE SUCCESS OF THE GROUP

Section 172(1) Statement

The directors act in good faith to make decisions, the outcome of which, they consider will be most likely to promote the success of the Group for the benefit of its members as a whole both in current periods and in the long term.

In discharging their duties above, the directors carefully consider amongst other matters, the impact on and interests of other stakeholders in the Group and factor these into their decision making process.

Employees

Directors receive information on various staff metrics. The directors are committed to promoting a healthy workforce comprising both physical and mental wellbeing. The directors keep staff informed of key issues through structured communication channels, promote inclusion in the workplace and also provide training and development opportunities where they are considered of benefit to the company and employees. Using the Group’s recruitment and development strategies, the directors seek to attract and retain talented staff.

The Group’s policy regarding disabled persons is set out in the Directors Report as well as further detail regarding communication with employees.

Customers

The directors commit considerable time, effort and resources into understanding and responding to the needs of our customers with a view to fostering long term mutually beneficial partnerships. We act to service our customers' needs to the highest standards and work quickly to resolve any isolated disagreements that may arise from time to time.

Suppliers

The directors have established Group procedures to ensure that external suppliers are individually verified to ensure they meet an approved standard required by the Group. The Group seeks to pay all suppliers any undisputed amounts due and that conform with the Group’s billing requirements within agreed terms. The Group has established procedures for dispute resolution in a timely and fair manner.
Community and the environment

The Group takes its role within the community very seriously and promotes and encourages community and charitable contribution. The Group also recognises the importance of its environmental responsibilities and has measures in place to monitor and control its impact on the local environment and its compliance with any regulatory environmental standards. The Group seeks to implement policies aimed at reducing any potential detrimental environmental impact of its activities.
Standards and conduct

The Group, of which the Company is a member, and the Company have a series of defined codes of practice regarding ethical standards and the conduct of business. These are clearly communicated to every staff member and adherence to which is expected and enforced.

Page 7

ATKINSON NORTHERN LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

This report was approved by the board on 31 July 2025 and signed on its behalf.

Mr J E Atkinson

Director

Page 8

ATKINSON NORTHERN LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATKINSON NORTHERN LIMITED

UNQUALIFIED OPINION

We have audited the financial statements of Atkinson Northern Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the consolidated profit and loss account, 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 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'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 9

ATKINSON NORTHERN LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATKINSON NORTHERN 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 Report. 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. 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.

Page 10

ATKINSON NORTHERN LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATKINSON NORTHERN LIMITED (CONTINUED)

RESPONSIBILITIES OF DIRECTORS

As explained more fully in the directors' responsibilities statement set out on page 1, 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.

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, the group and the industry in which they operate, and considered the risk of acts by the company and group that were contrary to applicable laws and regulations, including fraud. 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, forgery or intentional misrepresentations, or through collusion.
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 and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. 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, review of provisions and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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 11

ATKINSON NORTHERN LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATKINSON NORTHERN 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 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 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.

P C A Harrison MSc, BSc, FCA (senior statutory auditor)

for and on behalf of

Waltons Business Advisers Limited

Chartered Accountants

Statutory Auditors

Maritime House

Harbour Walk

The Marina

Hartlepool

Teesside

TS24 0UX

12 September 2025

Page 12

ATKINSON NORTHERN LIMITED

CONSOLIDATED PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	136,049,873	134,075,411
Cost of sales		(96,357,100)	(96,049,351)
GROSS PROFIT		39,692,773	38,026,060
Distribution costs		(19,498,495)	(19,839,938)
Administrative expenses		(12,372,387)	(12,092,186)
Other operating income	5	515,007	671,137
Other operating charges		(1,210,862)	(1,210,862)
OPERATING PROFIT	6	7,126,036	5,554,211
Interest receivable and similar income	10	402,565	181,108
Interest payable and similar expenses	11	(44,616)	(39,156)
PROFIT BEFORE TAX		7,483,985	5,696,163
Tax on profit	12	(2,813,876)	(1,020,204)
PROFIT FOR THE FINANCIAL YEAR		4,670,109	4,675,959

PROFIT FOR THE YEAR ATTRIBUTABLE TO:
Owners of the parent	4,670,109	4,675,959
	4,670,109	4,675,959

There are no items of other comprehensive income for 2024 or 2023 other than the profit for the year. As a result, no separate Statement of Comprehensive Income has been presented.

The notes on pages 22 to 42 form part of these financial statements.

Page 13

ATKINSON NORTHERN LIMITED

REGISTERED NUMBER: 01536154

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

FIXED ASSETS
Intangible assets	14		5,439,593		6,650,455
Tangible assets	15		36,388,306		35,091,888
Investments	17		2,627		2,627
Investment property	16		4,563,034		4,563,034
			46,393,560		46,308,004
CURRENT ASSETS
Stocks	18	18,441,799		19,437,116
Debtors: amounts falling due within one year	19	16,088,627		17,298,212
Cash at bank and in hand	20	16,833,433		8,163,295
		51,363,859		44,898,623
Creditors: amounts falling due within one year	21	(18,996,727)		(15,622,939)
NET CURRENT ASSETS			32,367,132		29,275,684
TOTAL ASSETS LESS CURRENT LIABILITIES			78,760,692		75,583,688
Creditors: amounts falling due after more than one year	22		(432,936)		(819,736)
PROVISIONS FOR LIABILITIES
Deferred taxation	25		(1,873,420)		(1,623,075)
NET ASSETS			76,454,336		73,140,877

CAPITAL AND RESERVES
Called up share capital	27	272,030	272,030
Revaluation reserve	26	6,886,627	6,911,494
Capital redemption reserve	26	404,250	404,250
Profit and loss account	26	68,891,429	65,553,103
		76,454,336	73,140,877

Page 14

ATKINSON NORTHERN LIMITED

REGISTERED NUMBER: 01536154

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 31 July 2025.

Mr J E Atkinson	Mr J J Boyd FCA
Director	Director

The notes on pages 22 to 42 form part of these financial statements.

Page 15

ATKINSON NORTHERN LIMITED

REGISTERED NUMBER: 01536154

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

FIXED ASSETS
Investments	17		38,342,409		43,842,409
			38,342,409		43,842,409
CURRENT ASSETS
Debtors: amounts falling due within one year	19	3,181		5,809
Cash at bank and in hand	20	16,141,805		6,393,498
		16,144,986		6,399,307
Creditors: amounts falling due within one year	21	(304,240)		(1,097,305)
NET CURRENT ASSETS			15,840,746		5,302,002
TOTAL ASSETS LESS CURRENT LIABILITIES			54,183,155		49,144,411


NET ASSETS			54,183,155		49,144,411

CAPITAL AND RESERVES
Called up share capital	27	272,030	272,030
Capital redemption reserve	26	404,250	404,250
Profit and loss account		53,506,875	48,468,131
		54,183,155	49,144,411

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2025.

Mr J E Atkinson	Mr J J Boyd FCA
Director	Director

The notes on pages 22 to 42 form part of these financial statements.

Page 16

ATKINSON NORTHERN LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Capital redemption reserve	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 January 2024	272,030	404,250	6,911,494	65,553,103	73,140,877

Profit for the year	-	-	-	4,670,109	4,670,109
Transfer to/from profit and loss account	-	-	(24,867)	24,867	-
Dividends: Equity capital	-	-	-	(1,356,650)	(1,356,650)
AT 31 DECEMBER 2024	272,030	404,250	6,886,627	68,891,429	76,454,336

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Capital redemption reserve	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 January 2023	272,030	404,250	7,131,248	62,014,040	69,821,568

Profit for the year	-	-	-	4,675,959	4,675,959
Transfer to/from profit and loss account	-	-	(219,754)	219,754	-
Dividends: Equity capital	-	-	-	(1,356,650)	(1,356,650)
AT 31 DECEMBER 2022	272,030	404,250	6,911,494	65,553,103	73,140,877

The notes on pages 22 to 42 form part of these financial statements.

Page 17

ATKINSON NORTHERN LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	272,030	404,250	48,468,131	49,144,411

Profit for the year	-	-	6,395,394	6,395,394
Dividends: Equity capital	-	-	(1,356,650)	(1,356,650)
AT 31 DECEMBER 2024	272,030	404,250	53,506,875	54,183,155

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2023	272,030	404,250	43,518,023	44,194,303

Profit for the year	-	-	6,306,758	6,306,758
Dividends: Equity capital	-	-	(1,356,650)	(1,356,650)
AT 31 DECEMBER 2023	272,030	404,250	48,468,131	49,144,411

The notes on pages 22 to 42 form part of these financial statements.

Page 18

ATKINSON NORTHERN LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

			2024	2023
			£	£

CASH FLOWS FROM OPERATING ACTIVITIES
Profit for the financial year	4,670,109	4,675,959
ADJUSTMENTS FOR:
Amortisation of intangible assets	1,210,862	1,210,862
Depreciation of tangible assets	2,510,281	2,368,913
Loss on disposal of tangible assets	(6,010)	(86,960)
Interest paid	44,616	39,156
Interest received	(402,565)	(181,108)
Taxation charge	2,813,876	48,508
Decrease in stocks	995,317	2,976,177
Decrease in debtors	593,502	983,541
Increase/(decrease) in creditors	350,822	(232,062)
Corporation tax (paid)	(1,059,355)	(1,244,518)
NET CASH GENERATED FROM OPERATING ACTIVITIES	11,721,455	10,558,468

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of tangible fixed assets	(4,009,241)	(7,323,440)
Sale of tangible fixed assets	208,552	712,684
Purchase of investment properties	-	(151,034)
Interest received	402,565	181,108
NET CASH FROM INVESTING ACTIVITIES	(3,398,124)	(6,580,682)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of finance leases	(484,952)	(468,202)
Dividends paid	(1,356,650)	(1,356,650)
Interest paid	(4,265)	(1,620)
HP interest paid	(40,351)	(37,536)
NET CASH USED IN FINANCING ACTIVITIES	(1,886,218)	(1,864,008)
INCREASE IN CASH AND CASH EQUIVALENTS	6,437,113	2,113,778

Page 19

ATKINSON NORTHERN LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

		2024	2023
		£	£


Cash and cash equivalents at beginning of year	6,451,423	4,337,645
CASH AND CASH EQUIVALENTS AT THE END OF YEAR	12,888,536	6,451,423

CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE:
Cash at bank and in hand	16,833,433	8,163,295
Bank overdrafts	(3,944,897)	(1,711,872)
	12,888,536	6,451,423

The notes on pages 22 to 42 form part of these financial statements.

Page 20

ATKINSON NORTHERN 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	8,163,295	8,670,138	16,833,433
Bank overdrafts	(1,711,872)	(2,233,025)	(3,944,897)
Debt due within 1 year	-	-	-
Finance leases	(1,304,688)	484,952	(819,736)
	5,146,735	6,922,065	12,068,800

The notes on pages 22 to 42 form part of these financial statements.

Page 21

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

The company is a private company, limited by shares, incorporated in England and Wales.
The registered office is:-
Thornton House
Cargo Fleet Lane
Middlesbrough
TS3 8DE

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 judgment 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 profit and loss account 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 profit and loss account from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

Going concern

The directors, having made due and careful enquiry and preparing forecasts, are of the opinion that the Group and company have adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the Group and company have adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 22

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

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.

2.5

Intangible assets

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 profit and loss account over its useful economic life of 10 years.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model, other than freehold land and buildings, long leasehold property (see note 2.7) and investment properties (see note 2.8), 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.

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.

Page 23

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Group use buildings	-	50 years
Short term leasehold buildings	-	Over the period of the lease
Plant and equipment	-	Between 4 and 8 years
Motor vehicles	-	Between 4 and 5 years
Fixtures and fittings	-	Between 4 and 8 years
Computer equipment	-	Over 4 years

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.

2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in the statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.8

Investment property

Investment property is carried at fair value determined by a external valuers and derived from the market value of similar properties and the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit and loss account.

2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 24

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.10

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 plus re-location costs on an average cost basis.
Stock cost is further reduced for rebates receivable as these effectively reduce the cost of the stock.
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 the profit or loss account

2.11

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

2.12

Pensions

Defined contribution pension plan
The Group contributes to 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 obligations.
The contributions are recognised as an expense in the profit and loss account 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 25

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES 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 directors believe that the following judgements are critical due to the degree of estimation required and/or the potential material impact on the financial statements:
PROVISIONS
The recognition of the debtor in respect of rebates receivable, the related stock provision, and the impairment provision for old and obsolete stock.
The rebates receivable provision is based on the amount of stock purchased from each individual supplier multiplied by the rebate percentage which is agreed with each supplier. This is compared to total rebates received in the year and the remaining amount due is included in the financial statements as a debtor.
A provision is accounted for in the financial statements to reduce the value of the stock held at the year end to account for the reduction in stock prices which arise from the rebates receivable from suppliers.
The stock impairment provision is calculated based on the age of stock and is designed to provide for older stock which may otherwise be carried at above realisable value.
PROPERTY VALUATIONS
The directors consider that the investment properties, freehold land and buildings and long term leasehold properties are valued at their fair value in the financial statements. The valuations are undertaken by an external professional valuer who carried out a desktop review at 31 December 2022. In the opinion of the directors there has been no significant change in value since this date.

TURNOVER

The whole of the turnover is attributable to the operations of a builders merchant.

All turnover arose within the United Kingdom.

5.	OTHER OPERATING INCOME
		2024	2023
		£	£

Net rents receivable	426,187	414,648
Solar panel income	88,820	96,489
Lease surrender fee	-	160,000
	515,007	671,137

Page 26

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Depreciation of tangible fixed assets	2,594,751	2,280,747
Amortisation of intangible assets, including goodwill	1,210,862	1,210,862
Other operating lease rentals	389,162	389,162

Fees payable to the Group's auditors and their associates for the audit of the Group's financial statements	44,105	42,000
Fees payable to the Group's auditors in respect of:
Taxation compliance services	16,450	9,208
All non-audit services not included above	26,853	27,050

Page 27

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	EMPLOYEES
	Staff costs, including directors' remuneration, were as follows:

		Group	Group
		2024	2023
		£	£


Wages and salaries	17,558,483	17,803,422
Social security costs	1,484,089	1,746,936
Cost of defined contribution scheme	554,051	521,595
	19,596,623	20,071,953

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.

Sales and distribution	463	470	-	-
Administration and management	65	67	7	7

	528	537	7	7

9.	DIRECTORS' REMUNERATION
		2024	2023
		£	£

Directors' emoluments	458,821	504,049
Group contributions to defined contribution pension schemes	17,840	20,150
	476,661	524,199

	During the year retirement benefits were accruing to 4 directors (2023 - 4) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £159,905 (2023 - £161,325).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £8,449 (2023 - £9,734).

Page 28

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	INTEREST RECEIVABLE
		2024	2023
		£	£

	Bank and other interest receivable	402,565	181,108
		402,565	181,108

11.	INTEREST PAYABLE AND SIMILAR EXPENSES
		2024	2023
		£	£

Bank interest payable	957	670
Finance leases and hire purchase contracts	40,351	37,536
Other interest payable	3,308	950
	44,616	39,156

Corporation tax
Current tax on profits for the year	2,714,743	1,106,046
Adjustments in respect of previous periods	(151,212)	(26,017)
	2,563,531	1,080,029

Total current tax	2,563,531	1,080,029

Deferred tax
Origination and reversal of timing differences	250,345	(59,825)
Total deferred tax	250,345	(59,825)


		2,813,876	1,020,204

Page 29

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.TAXATION (CONTINUED)

Profit on ordinary activities before tax

7,483,985

5,696,163

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)	1,870,996	1,447,002
Effects of:
Non deductible amortisation of goodwill and impairment	302,716	163,375
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	21,101	23,915
Capital allowances for year in excess of depreciation	519,930	(508,027)
Adjustments to tax charge in respect of prior periods	(151,212)	(26,017)
Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax	-	(20,219)
Short-term timing difference leading to an increase (decrease) in taxation	250,345	(59,825)
Total tax charge for the year	2,813,876	1,020,204

FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

Deferred tax in respect of the investment properties and freehold land and buildings which are held at valuation is assessed at £Nil as the overall net indexed cost of these assets is in excess of their valuation.

13.	DIVIDENDS
		2024	2023
		£	£

'G' Ordinary
Dividends	491,500	491,500
'J' Ordinary
Dividends	865,150	865,150
	1,356,650	1,356,650

Page 30

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	INTANGIBLE ASSETS
	Group

		Goodwill
		£
	Cost
	At 1 January 2024	12,108,299
	At 31 December 2024	12,108,299
	Amortisation
	At 1 January 2024	5,457,844
	Charge for the year on owned assets	1,210,862
	At 31 December 2024	6,668,706
	Net book value
	At 31 December 2024	5,439,593
	At 31 December 2023	6,650,455

There are no intangible fixed assets held in the parent company.
The net book value of the goodwill on consolidation amounts to £692,676 and purchased goodwill £4,746,917.

Page 31

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	TANGIBLE FIXED ASSETS
	Group

	Land and buildings	Short-term leasehold property	Plant and equipment, fixtures & fittings, computer equipment & motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	21,092,245	6,784,764	18,199,266	46,076,275
Additions	9,272	1,444,435	2,555,534	4,009,241
Disposals	-	-	(1,293,046)	(1,293,046)
At 31 December 2024	21,101,517	8,229,199	19,461,754	48,792,470
Depreciation
At 1 January 2024	268,168	1,155,889	9,560,330	10,984,387
Charge for the year on owned assets	180,092	335,772	1,682,017	2,197,881
Charge for the year on financed assets	-	-	312,400	312,400
Disposals	-	-	(1,090,504)	(1,090,504)
At 31 December 2024	448,260	1,491,661	10,464,243	12,404,164
Net book value
At 31 December 2024	20,653,257	6,737,538	8,997,511	36,388,306
At 31 December 2023	20,824,077	5,628,875	8,638,936	35,091,888

Page 32

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of land and buildings may be further analysed as follows:
	2024	2023
	£	£

Freehold	19,580,321	19,737,693
Long leasehold	1,072,936	1,086,384
Short leasehold	6,737,538	5,628,875
	27,390,795	26,452,952

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2024	2023
	£	£


Motor vehicles	1,246,810	1,557,838
	1,246,810	1,557,838

The land and buildings and long term leasehold property were valued at 31 December 2022 at £19,170,000 by Holder & Co Limited, an independent property advisor, based on a desktop review. The valuations were made at fair value, in accordance with the RICS valuation professional standard definition. The directors consider this to remain a fair value of the investment property at 31 December 2024.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
	2024	2023
	£	£

Group
Cost	19,298,546	19,298,546
Accumulated depreciation	(2,727,520)	(2,491,068)
Net book value	16,571,026	16,807,478

There are no tangible fixed assets in the holding company.

Page 33

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

16.	INVESTMENT PROPERTY
	Group

		Freehold investment property
		£
	Valuation
	At 1 January 2024	4,563,034
	At 31 December 2024	4,563,034

The 2022 valuations were made by Holder & Co Limited, an independent property advisor based on a desktop review. The valuations are made at fair value in accordance with the RICS valuation professional standard definition, on an open market value for existing use basis.

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2024	2023
	£	£

	Historic cost	2,515,630	2,515,630
		2,515,630	2,515,630

Page 34

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17.	FIXED ASSET INVESTMENTS
	Group

		Unlisted investments
		£
	Cost or valuation
	At 1 January 2024	2,627
	At 31 December 2024	2,627

	Net book value
	At 31 December 2024	2,627
	At 31 December 2023	2,627

	Company

	Investments in subsidiary companies	Unlisted investments	Loans to subsidiaries	Total
	£	£	£	£
Cost
At 1 January 2024	8,342,392	17	35,500,000	43,842,409
Repayment	-	-	(5,500,000)	(5,500,000)
At 31 December 2024	8,342,392	17	30,000,000	38,342,409

Net book value
At 31 December 2024	8,342,392	17	30,000,000	38,342,409
At 31 December 2023	8,342,392	17	35,500,000	43,842,409

Page 35

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

DIRECT SUBSIDIARY UNDERTAKINGS
The following were direct subsidiary undertakings of the company:
Name	Registered office	Class of shares	Holding

J T Atkinson & Sons Limited	Thornton House, Cargo Fleet Land, Middlesbrough	£ Ordinary	100%
Northern General Properties Limited	as above	£ Ordinary	100%
The Builders Supply Co (Kendal) Limited - dormant	as above	£ Ordinary	100%
Arch Building Supplies Limited - dormant	as above	£ Ordinary	100%

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 were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

J T Atkinson & Sons Limited	4,717,220	2,679,115
Northern General Properties Limited	25,188,676	1,111,854
The Builders Supply Co (Kendal) Limited - dormant	5,000	-
Arch Building Supplies Limited - dormant	10,000	-

INDIRECT SUBSIDIARY UNDERTAKINGS
The following were indirect subsidiary undertakings of the company:
Name	Registered office	Class of shares	Holding

BTSCO Limited - dormant	Thornton House, Cargo Fleet Land, Middlesbrough	£1 Ordinary	100%
Harrogate Timber Limited - dormant	as above	£1 Ordinary	100%
B & TS Timber Merchants Ltd - dormant	as above	£1 Ordinary	100%

	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
		£

	BTSCO Limited- dormant	100
	Harrogate Timber Limited- dormant	2
	B & T S Builders Merchants Ltd- dormant	1,000

Page 36

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

18.	STOCKS
		Group	Group
		2024	2023
		£	£

Finished goods and goods for resale	18,441,799	19,437,116
	18,441,799	19,437,116

The carrying value of stocks are stated net of impairment losses totalling £2,103,542 (2023 - £1,489,072). Impairment losses totalling £614,470 (2023 - £85,402) were recognised in profit and loss.

19.

DEBTORS

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


Trade debtors	11,162,628	11,982,164	-	-
Other debtors	207,807	743,821	3,181	5,809
Prepayments and accrued income	4,718,192	4,572,227	-	-
	16,088,627	17,298,212	3,181	5,809

20.	CASH AND CASH EQUIVALENTS
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Cash at bank and in hand	16,833,433	8,163,295	16,141,805	6,393,498
Less: bank overdrafts	(3,944,897)	(1,711,872)	-	(828,142)
	12,888,536	6,451,423	16,141,805	5,565,356

Page 37

ATKINSON NORTHERN 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 overdrafts	3,944,897	1,711,872	-	828,142
Trade creditors	10,144,874	9,359,945	402	-
Corporation tax	1,365,455	477,362	265,250	230,574
Other taxation and social security	1,246,757	1,369,793	-	-
Obligations under finance lease and hire purchase contracts	386,800	484,952	-	-
Other creditors	208,655	300,757	-	-
Accruals and deferred income	1,699,289	1,918,258	38,588	38,589
	18,996,727	15,622,939	304,240	1,097,305

The parent company bankers hold, as security against any overdraft of the company or certain members of the Group, a composite guarantee given by each of Northern General Properties Limited and J T Atkinson & Sons Limited in favour of Atkinson Northern Limited and a composite guarantee by Atkinson Northern Limited in favour of each of those two companies.
J T Atkinson & Sons Limited have a fixed and floating charge over all current and future assets of the company.
The obligations under finance leases and hire purchase contacts are secured upon the assets to which they relate.

22.	CREDITORS: Amounts falling due after more than one year
		Group	Group
		2024	2023
		£	£

Net obligations under finance leases and hire purchase contracts	432,936	819,736
	432,936	819,736

Page 38

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

23.	HIRE PURCHASE AND FINANCE LEASES
	Minimum lease payments under hire purchase fall due as follows:
		Group	Group
		2024	2023
		£	£

Within one year	386,800	484,952
Between 1-5 years	432,936	819,736
	819,736	1,304,688

24.	FINANCIAL INSTRUMENTS
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Financial assets
Financial assets measured at fair value through profit or loss	12,891,163	8,105,578	54,484,214	4,940,407,765
Financial assets that are debt instruments measured at amortised cost	15,543,031	16,245,979	206,800	5,809
	28,434,194	24,351,557	54,691,014	4,940,413,574

	Financial liabilities
	Financial assets that are debt instruments measured at amortised cost	(14,269,178)	(14,253,441)	(38,174)	(38,589)

Financial assets measured at fair value through profit and loss account comprise investments and cash.
Financial assets measured at amortised cost comprise trade debtors, other debtors and rebates receivable.
Financial liabilities measured at amortised cost comprise trade creditors, other creditors, net obligations under finance lease and hire purchase contracts and accruals.

Page 39

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

25.	DEFERRED TAXATION
	Group

	2024	2023
	£	£

At beginning of year	1,623,075	1,682,900
Charged to profit or loss	250,345	(59,825)
At end of year	1,873,420	1,623,075

Company



At end of year	-	-

The provision for deferred taxation is made up as follows:
	Group	Group
	2024	2023
	£	£

	Accelerated capital allowances	1,873,420	1,623,075
		1,873,420	1,623,075

26.

RESERVES

Revaluation reserve

Included in the revaluation reserve is £2,088,868, which relates to the investment property revaluation reserve, with the remaining balance relating to the freehold land and buildings revaluation reserve.

Capital redemption reserve

The capital redemption reserve represents the cost of the shares acquired by the company by a purchase of own share agreement.

Profit and loss account

The profit and loss account represents the cumulative profits and losses, net of dividends and other adjustments.

Page 40

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

27.	SHARE CAPITAL
		2024	2023
		£	£

Allotted, called up and fully paid

9,830 (2023 - 9,830) 'G' Ordinary shares of £10.00 each	98,300	98,300
17,303 (2023 - 17,303) 'J' Ordinary shares of £10.00 each	173,030	173,030
35,000 (2023 - 35,000) 'G' Founder shares of £0.01 each	350	350
35,000 (2023 - 35,000) 'J' Founder shares of £0.01 each	350	350

	272,030	272,030

All shares carry equal voting rights but the Founder shares do not carry any rights to a share in any surplus assets in the event of the company being wound up, nor to any dividends. The Founder shares are regarded as non-equity shares.

28.	PENSION COMMITMENTS

The company contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
Contributions totalling £1,324 (2023: £6,507) were payable to the fund at the balance sheet date.

29.	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
		2024	2023
		£	£

Not later than 1 year	825,400	801,400
Later than 1 year and not later than 5 years	3,107,933	3,089,850
Later than 5 years	6,858,092	7,459,575
	10,791,425	11,350,825

The company has no operating lease commitments.

Page 41

ATKINSON NORTHERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

30.	RELATED PARTY TRANSACTIONS
	Dividends totalling £769,810 were paid to directors during the year. Rent of £195,875 was paid to pension schemes in which Mr J E Atkinson, Mr M R Atkinson and Mr J J Boyd have a beneficial interest. At 31 December 2024, £20,000 (1 January 2024: £20,000) was due to Mrs S M Gilbertson.

Page 42