Strut Direct Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Strut Direct Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04071449 . The registered office is Alma Street, Wednesbury, West Midlands, WS10 0QB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are intially measured at cost and subsequently measured at cost or valuation, less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Land - not depreciated / Buldings 2% straight line
Plant & Machinery	25% & 10% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Strut Direct Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

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Strut Direct Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 36 (2024: 33)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost or Valuation
As at 1 May 2024	1,163,912	1,183,384	50,732	43,132	2,441,160
Additions	-	131,824	67,390	1,692	200,906
Disposals	-	(12,995 )	-	-	(12,995 )
Revaluation	255,923	-	-	-	255,923

As at 30 April 2025	1,419,835	1,302,213	118,122	44,824	2,884,994

Depreciation
As at 1 May 2024	46,557	383,017	21,951	30,538	482,063
Provided during the period	23,278	139,369	22,639	3,490	188,776
Disposals	-	(8,331 )	-	-	(8,331 )

As at 30 April 2025	69,835	514,055	44,590	34,028	662,508

Net Book Value
As at 30 April 2025	1,350,000	788,158	73,532	10,796	2,222,486

As at 1 May 2024	1,117,355	800,367	28,781	12,594	1,959,097

Cost or valuation as at 30 April 2025 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
At cost	785,543	1,302,213	118,122	44,824	2,250,702
At valuation	634,292	-	-	-	634,292

	1,419,835	1,302,213	118,122	44,824	2,884,994

Land and buildings with a historical cost of £785,543 were revalued at 30 April 2025 by the director on the basis of market value, the valuation was based on recent market transactions on an arms length basis for similar properties. An independent valuation was carried out on 1st July 2025 which is in line with the 30 April 2025 valuation.

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Strut Direct Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

5. Stocks

	2025	2024
	£	£
Finished goods	1,044,433	609,580

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,264,512	1,095,525
Amounts owed by participating interests	230,703	-
Other debtors	36,432	355,811

	1,531,647	1,451,336

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	91,318	154,737
Trade creditors	1,212,924	1,019,740
Bank loans and overdrafts	413,796	270,579
Amounts owed to participating interests	18,511	4,917
Other creditors	100,578	77,339
Taxation and social security	537,748	361,067

	2,374,875	1,888,379

Bank loans of £26,923 (2024: £26,638) are secured by a debenture over the company's assets and legal charges over Freehold Property. Overdraft of £386,873 (2024: £243,941) is secured by directors personal guarantees of £63,500 and participators guarantees of £33,000.

Obligations under finance leases and hire purchase contracts of £91,318 (2024 £154,737) are secured against the assets to which they relate.

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	175,515	219,718
Bank loans	293,750	319,886
Other loans	150,000	150,000
Other creditors	5,493	8,878

	624,758	698,482

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Strut Direct Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

Bank loans of £293,750 (2024 £319,886) are secured by a debenture over the company's assets and legal charges over the Freehold Property.

Obligations under finance leases and hire purchase contracts of £175,515 (2024 £219,718) are secured against the assets to which they relate.

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	91,318	154,737
Later than one year and not later than five years	175,515	219,718

	266,833	374,455

	266,833	374,455

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,001	1,001

11. Other Commitments

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

	2025	2024
	£	£
Not later than one year	108,804	108,804
Later than one year and not later than five years	147,105	254,500

	255,909	363,304

12. Reserves

	Revaluation Reserve
	£
As at 1 May 2024	378,369
Surplus on revaluation	255,922
Transfer to profit and loss	(22,702 )

As at 30 April 2025	611,589

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Strut Direct Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

13. Related Party Transactions

At the year end the company is owed the following balances held within current assets:

Balances:

SDL Holdings Group Limited £122,759 (2024: £119,915)

Trent Industrial Supplies Limited £6,636 (2024: £11,763) - £5,124 owed under normal trade terms

Pumps2go Limited £101,308 (2024: £123,868) - £86,395 owed under normal trade terms

The balances excluding trade terms amount to £139,184, and are deemed repayable on demand.

During the year the company made sales and purchases below:

Sales:

Trent Industrial Supplies Limited £36,645 (2024: £5,270)

Pumps2go Limited £105,168 (2024: £115,130)

Purchases:

SDL Holdings Group Limited £12,000 (2024: NIL)

Trent Industrial Supplies Limited £17,848 (2024 £9,915)

Pumps2go Limited £24,888 (2024: £2,185)

The company's above all share common directors and shareholders with Strut Direct Limited.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,222,486		1,959,097

			2,222,486		1,959,097
CURRENT ASSETS
Stocks	5	1,044,433		609,580
Debtors	6	1,531,647		1,451,336
Cash at bank and in hand		788		62,611

		2,576,868		2,123,527
Creditors: Amounts Falling Due Within One Year	7	(2,374,875 )		(1,888,379 )

NET CURRENT ASSETS (LIABILITIES)			201,993		235,148

TOTAL ASSETS LESS CURRENT LIABILITIES			2,424,479		2,194,245

Creditors: Amounts Falling Due After More Than One Year	8		(624,758 )		(698,482 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(247,627 )		(329,367 )

NET ASSETS			1,552,094		1,166,396

CAPITAL AND RESERVES
Called up share capital	10		1,001		1,001
Revaluation reserve	12		611,589		378,369
Profit and Loss Account			939,504		787,026

SHAREHOLDERS' FUNDS			1,552,094		1,166,396