REGISTERED NUMBER: 05014850 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ZIP-CLIP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M G Clay Michael

J M Forster

S Goldsworthy

Ms F M J Chaublet

R D Macken

SECRETARY:

M G Clay Michael

REGISTERED OFFICE:

5 Buttington

Welshpool

Powys

SY21 8SS

REGISTERED NUMBER:

05014850 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Intangible assets

4

9,053

14,688

Tangible assets

5

667,234

716,616

676,287

731,304

CURRENT ASSETS

Stocks

1,436,991

1,621,280

Debtors

6

2,389,712

1,991,295

Cash at bank and in hand

332,773

133,151

4,159,476

3,745,726

CREDITORS

Amounts falling due within one year

7

2,419,681

2,091,247

NET CURRENT ASSETS

1,739,795

1,654,479

TOTAL ASSETS LESS CURRENT LIABILITIES

2,416,082

2,385,783

CREDITORS

Amounts falling due after more than one year

8

158,936

206,254

NET ASSETS

2,257,146

2,179,529

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

2,257,044

2,179,427

2,257,146

2,179,529

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

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

The directors acknowledge their responsibilities for:

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

(b)

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

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

M G Clay Michael - Director

1.	STATUTORY INFORMATION

Zip-Clip Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twelve years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Research and development

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 46 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

Cost

At 1 January 2024

and 31 December 2024

122,000

21,788

143,788

Amortisation

At 1 January 2024

108,583

20,517

129,100

Charge for year

5,000

635

5,635

At 31 December 2024

113,583

21,152

134,735

Net book value

At 31 December 2024

8,417

636

9,053

At 31 December 2023

13,417

1,271

14,688

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 January 2024

1,029,419

407,889

57,860

1,495,168

Additions

26,416

3,764

-

30,180

At 31 December 2024

1,055,835

411,653

57,860

1,525,348

Depreciation

At 1 January 2024

529,599

223,639

25,314

778,552

Charge for year

52,623

18,802

8,137

79,562

At 31 December 2024

582,222

242,441

33,451

858,114

Net book value

At 31 December 2024

473,613

169,212

24,409

667,234

At 31 December 2023

499,820

184,250

32,546

716,616

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

884,263

807,846

Amounts owed by group undertakings

1,201,477

832,210

Other debtors

303,972

351,239

2,389,712

1,991,295

The trade debtors are subject to a debt factoring agreement.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

1,378,717

734,300

Hire purchase contracts (see note 9)

8,038

8,037

Trade creditors

612,286

711,915

Taxation and social security

116,743

150,189

Other creditors

303,897

486,806

2,419,681

2,091,247

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

128,593

169,213

Hire purchase contracts (see note 9)

30,343

37,041

158,936

206,254

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

8,038

8,037

Between one and five years

30,343

37,041

38,381

45,078

Non-cancellable

operating leases

2024

2023

£

£

Within one year

93,562

86,921

Between one and five years

57,526

74,123

In more than five years

6,708

25,735

157,796

186,779

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdraft and loans

1,358,446

780,808

Factoring Loan

215,445

424,159

1,573,891

1,204,967

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the year end was Zip -Clip Group Limited. Their registered office is 5 Buttington, Welshpool, Powys, Wales, SY21 8SS.