REGISTERED NUMBER: 13120048 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024

FOR

BECK PRODUCTS HOLDINGS LTD

Page

Company information

1

Group strategic report

2

Report of the directors

4

Report of the independent auditors

6

Consolidated income statement

10

Consolidated other comprehensive income

11

Consolidated balance sheet

12

Company balance sheet

13

Consolidated statement of changes in equity

14

Company statement of changes in equity

15

Consolidated cash flow statement

16

Notes to the consolidated cash flow statement

17

Notes to the consolidated financial statements

19

Directors:

J M Dupont

D J Dupont

C P Dupont

Registered office:

Gateway House

Holme Lacy Road

Rotherwas

Hereford

Herefordshire

HR2 6EQ

Registered number:

13120048 (England and Wales)

The directors present their strategic report of the company and the group for the year ended 31st December 2024.

The principal activity of the Group continues to be the supply of sustainable protection solutions in the construction industry.

Review of business

This year saw an increase in sales to £13.76m (2023: £13.45m) The gross profit also increased to £4.35m a GP% of 31.6% (2023: £4.17m and 31%). Profit before tax came in at £1.91m (2023: £2m), to give another good result this year.

The cash balance remained strong at £1.32m (2023: £1.58m), at the year ended 31st December 2024, allowing the Group to take advantage of opportunities as they arise.

The working capital cycle was uneventful with no significant movement in stock/debtors/creditors. There were also no significant fixed asset purchase during the year.

At the year end, the Group had shareholders' funds of £3.43m (2023: £3.83m), which the directors believe is a strong foundation to build the business further.

Principal risks and uncertainties

The key business risks and uncertainties affecting the Group are considered to relate to:

-

Market conditions within the construction industry in the UK

-

Geopolitical events resulting in supply chain disruptions

-

Foreign exchange currency risks

The Group aims to differentiate its service by delivering consistently high- quality products, coupled with a strategy of continuous improvement in both service offering and range of goods. The directors monitor the state of market sectors that affect the business divisions and evolve the strategic plan as required.

With this in mind, the directors believe that the quality of our products and services will help mitigate these risks and expect to see satisfactory trading results in 2025.

Key performance indicators

The Group utilises a range of measures to assess its performance on the most appropriate time basis. These range from financial measures across the group as a whole to operational and selling measures within the individual departments.

Development and performance

The first 7 months of this year are promising in terms of sales and gross profit, indicating another strong result is expected for the 2025 year.

Continued economic headwinds and potential new legislation will bring their own challenges, but we believe the Group is in a strong position to make the most of the growth opportunities as they arise. To achieve this, our strategic focus will continue to be on extending our range of recycled products to improve sustainability in the construction industry.

On behalf of the board:

C P Dupont - Director

12th September 2025

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

Dividends

The total distribution of dividends for the year ended 31st December 2024 will be £1,541,130.

A dividend totalling £1,541,888 was duly authorised and paid on 7th April 2025.

Future developments

The directors expect continued improvement in the level of activity and operational profits for the

forthcoming year ending 31st December 2025. No changes in the operational activities are expected in the

foreseeable future.

Directors

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

J M Dupont

D J Dupont

C P Dupont

Financial instruments

A proportion of currency is hedged through forward contracts.

The company enters into no further complex financial instruments.

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). 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Auditors

The auditors, Chris Duckett (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

C P Dupont - Director

12th September 2025

Opinion

We have audited the financial statements of Beck Products Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2024 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 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 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the goods supply sector;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

-

understanding the design of the company's remuneration policies.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims; and

-

reviewing correspondence with HMRC, relevant regulators and the Group's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

Other matters which we are required to address

Comparative information in the financial statements is derived from the Group's prior period financial statements which were not audited.

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.

Chris Duckett (Senior Statutory Auditor)

for and on behalf of Chris Duckett (Audit) Limited

Chartered Accountants & Statutory Auditors

Network House

Thorn Office Centre

Rotherwas

Hereford

HR2 6JT

12th September 2025

Turnover

13,761,110

13,447,234

Cost of sales

9,406,375

9,272,616

Gross profit

4,354,735

4,174,618

Administrative expenses

2,444,333

2,148,637

1,910,402

2,025,981

Other operating income

-

13,025

Operating profit

4

1,910,402

2,039,006

Interest receivable & similar income

18,708

-

1,929,110

2,039,006

Interest payable & similar expenses

5

20,906

43,513

Profit before taxation

1,908,204

1,995,493

Tax on profit

6

468,882

455,143

Profit for the financial year

1,439,322

1,540,350

Profit attributable to:

Owners of the parent

1,439,322

1,540,350

Profit for the year

1,439,322

1,540,350

Other comprehensive income

-

-

Total comprehensive income for the year

1,439,322

1,540,350

Total comprehensive income attributable to:

Owners of the parent

1,439,322

1,540,350

Fixed assets

Intangible assets

10

-

23,333

Tangible assets

11

979,776

907,366

Investments

12

-

-

Investment property

13

-

-

979,776

930,699

Current assets

Stocks

14

1,976,214

1,870,773

Debtors

15

1,972,471

2,052,038

Cash at bank and in hand

1,319,236

1,575,842

5,267,921

5,498,653

Creditors

Amounts falling due within one year

16

2,753,501

2,405,181

Net current assets

2,514,420

3,093,472

Total assets less current liabilities

3,494,196

4,024,171

Creditors

Amounts falling due after more than one year

17

(43,171

)

(190,440

)

Provisions for liabilities

20

(22,700

)

(3,600

)

Net assets

3,428,325

3,830,131

Capital and reserves

Called up share capital

21

802

300,800

Capital redemption reserve

22

300,000

-

Retained earnings

22

3,127,523

3,529,331

3,428,325

3,830,131

The financial statements were approved by the Board of Directors and authorised for issue on 12th September 2025 and were signed on its behalf by:

C P Dupont - Director

Fixed assets

Intangible assets

10

-

-

Tangible assets

11

858,973

-

Investments

12

300,800

300,800

Investment property

13

-

858,973

1,159,773

1,159,773

Current assets

Debtors

15

-

143,108

Cash at bank and in hand

43,651

65,739

43,651

208,847

Creditors

Amounts falling due within one year

16

805,371

572,839

Net current liabilities

(761,720

)

(363,992

)

Total assets less current liabilities

398,053

795,781

Creditors

Amounts falling due after more than one year

17

43,171

190,440

Net assets

354,882

605,341

Capital and reserves

Called up share capital

21

802

300,800

Capital redemption reserve

22

300,000

-

Retained earnings

22

54,080

304,541

354,882

605,341

Company's profit for the financial year

1,590,669

977,503

The financial statements were approved by the Board of Directors and authorised for issue on 12th September 2025 and were signed on its behalf by:

C P Dupont - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st January 2023

300,800

2,727,481

-

3,028,281

Changes in equity

Dividends

-

(738,500

)

-

(738,500

)

Total comprehensive income

-

1,540,350

-

1,540,350

Balance at 31st December 2023

300,800

3,529,331

-

3,830,131

Changes in equity

Increase in share capital

2

-

-

2

Reduction in share capital

(300,000

)

-

-

(300,000

)

Dividends

-

(1,541,130

)

-

(1,541,130

)

Total comprehensive income

-

1,139,322

300,000

1,439,322

Balance at 31st December 2024

802

3,127,523

300,000

3,428,325

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st January 2023

300,800

65,538

-

366,338

Changes in equity

Dividends

-

(738,500

)

-

(738,500

)

Total comprehensive income

-

977,503

-

977,503

Balance at 31st December 2023

300,800

304,541

-

605,341

Changes in equity

Increase in share capital

2

-

-

2

Reduction in share capital

(300,000

)

-

-

(300,000

)

Dividends

-

(1,541,130

)

-

(1,541,130

)

Total comprehensive income

-

1,290,669

300,000

1,590,669

Balance at 31st December 2024

802

54,080

300,000

354,882

Cash flows from operating activities

Cash generated from operations

1

1,626,941

2,084,563

Interest paid

(20,906

)

(43,513

)

Tax paid

(504,982

)

(553,643

)

Net cash from operating activities

1,101,053

1,487,407

Cash flows from investing activities

Purchase of tangible fixed assets

(99,107

)

(24,894

)

Interest received

18,708

-

Net cash from investing activities

(80,399

)

(24,894

)

Cash flows from financing activities

Loan repayments in year

(205,633

)

(217,777

)

Amount introduced by directors

578,057

-

Amount withdrawn by directors

-

(228,927

)

Capital redemption

(300,000

)

-

Share issue

2

-

Related party loan movement

191,444

149,750

Equity dividends paid

(1,541,130

)

(738,500

)

Net cash from financing activities

(1,277,260

)

(1,035,454

)

(Decrease)/increase in cash and cash equivalents

(256,606

)

427,059

Cash and cash equivalents at beginning of year

2

1,575,842

1,148,783

Cash and cash equivalents at end of year

2

1,319,236

1,575,842

1.	Reconciliation of profit before taxation to cash generated from operations

31.12.24

31.12.23

£

£

Profit before taxation

1,908,204

1,995,493

Depreciation charges

50,030

74,067

Finance costs

20,906

43,513

Finance income

(18,708

)

-

1,960,432

2,113,073

Increase in stocks

(105,441

)

(135,085

)

Increase in trade and other debtors

(63,541

)

(170,472

)

(Decrease)/increase in trade and other creditors

(164,509

)

277,047

Cash generated from operations

1,626,941

2,084,563

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 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

1,319,236

1,575,842

Year ended 31st December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,575,842

1,148,783

3.	Analysis of changes in net funds

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

1,575,842

(256,606

)

1,319,236

1,575,842

(256,606

)

1,319,236

Debt

Debts falling due within 1 year

(61,076

)

58,364

(2,712

)

Debts falling due after 1 year

(190,440

)

147,269

(43,171

)

(251,516

)

205,633

(45,883

)

Total

1,324,326

(50,973

)

1,273,353

1.	Statutory information

Beck Products Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates

The following judgements and estimations have been made in the process of applying the company's

accounting policies that have had the most significant effect on amounts recognised in the financial

statements.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where it affects only that period

or in both current and future periods.

Stock provision

In calculating the stock provision, the Directors assess the nature and condition of the items in stock at

the year end and how long they have been held. This provision is included within the stock balance in

notes.

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful

economical lives and residual values of the assets. These are assessed by the Directors on an annual

basis.

Useful economic lives of intangible fixed assets

The annual amortisation charge for intangible assets is sensitive to changes in the estimated useful

economical lives and residual values of the assets. These are assessed by the Directors on an annual

basis.

Turnover

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