Standage & Co. Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—7
Profit and Loss Account	8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Statement of Cash Flows	13
Notes to the Financial Statements	14—20

The directors present their strategic report for the year ended 31 December 2024.

Review of the Business

Adaptability and Diversification

Over the past few years, Standage & Co has worked strategically to diversify its client base. This foresight proved critical in 2024, when the market was slower than usual at the start of the year. By remaining agile and pursuing a range of both public- and private-sector projects meant that we were able to navigate fewer tender opportunities while still maintaining momentum.

A developing relationship with Westminster City Council – which this year manifested mainly in our basement refurbishment project at the Grade II listed Porchester Leisure Centre and Paddington Library – provided a reliable pipeline through the first half of 2024. We also completed our regular roster of school refurbishment projects during the summer, ensuring stable revenue and reinforcing our strong reputation and success rate with educational authorities.

Major Projects & Future Outlook

One highlight of the year was securing more private residential projects, a sector that we have taken greater interest in over the last 3 years. The first project of note, 82 Royal Hill, was a full internal and external refurbishment of a Grade II listed house in Greenwich, which tapped into our heritage interests and allowed us to prove our credentials once again in this setting. This project was completed at the start of 2025 with very happy clients. Later in the year, we secured another attractive private heritage project at 32 Morden Road. A unique building in this location, originating as a mid-19th century coach house, the project will repair and refurbish the 1958-conversion to a house and construct a two-storey rear-extension providing additional living quarters. This project will continue through 2025.

Without doubt, we were especially proud to win our largest contract to date: a £6 million refurbishment of Woolwich Town Hall for the Royal Borough of Greenwich. This flagship assignment, extending into 2025 and 2026, demonstrates our capacity to deliver high-value projects and broaden our portfolio.

Although overall revenue trailed behind 2023’s standout performance of recent years, we preserved our profit margins through prudent cost control. By the close of the year, and despite such a slow start, we had secured an order book of over £10 million for 2025 which is the best year-start position we have been in for many years. We plan to leverage this stable workload to invest in back-office improvements and bolster business development, positioning ourselves for growth into 2026 and beyond.

The key financial performance indicators for the year ended 31 December 2024 are set out below:

2024 2023

Turnover £8.51m £13.26m

Gross Profit £1.15m £2.45m

Operating Profit £235k £828k

On the following pages of these financial statements are the results for the year ended 31 December 2024.

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Standage & Co. Limited

Strategic Report (continued)

For The Year Ended 31 December 2024

Principal Risks and Uncertainties

Strategic and Commercial Risk

We continually monitor market fluctuations and economic trends. Our commitment to serving a diverse range of clients helps mitigate the potential impact of a slowdown in any single sector.

Financial Risk

While sales dipped in comparison to last year, vigilant oversight of our overheads and profit margins kept us financially healthy. We regularly track project performance and cash flow, ensuring we’re equipped to meet commitments and fund strategic initiatives.

Operational Risk

Standage & Co’s varied scope of work—from heritage restorations to public-sector programs—demands consistent standards, regulatory compliance, and clear communication. Rigorous operational processes and a proactive approach to risk management underpin the quality and reliability of every project we undertake.

COMMUNITY & CHARITABLE ENGAGEMENT

Standage & Co. remains dedicated to giving back to the communities in which we operate. This year we continued our sponsorship of Southwark Rugby Club, which is the first inner London junior rugby club, providing sport and social opportunities. We were proud supporters of the Southwark Mayor’s Charity Ball which raised funds for three local charities: St Giles Trust, SALEM Academy of Music and London Community Kitchen.

Our Woolwich Town Hall project bid for the Royal Borough of Greenwich included social value initiatives and we can report the full-time employment of a local resident, together with £5000 support to the Children in Care Education Achievement Awards held at The Valley on 11th October.

We also donated to Young Minds as part of World Mental Health Day, and supplied Easter Eggs to our local Ilderton and Phoenix Primary Schools as part of their Easter celebrations.

On behalf of the board

Mr C Brain

Director

26th August 2025

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Standage & Co. Limited

Company No. 00345675

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal Activity

The principle of activity of the company was that of refurbishment and maintenance contractors.

Dividends

The value of dividends paid amounted to £200,000 .

The directors recommended a final dividend of £NIL .

Directors

The directors who held office during the year were as follows:

Mrs G Brain

Mr C Brain

Mr C Moore

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Standage & Co. Limited

Directors' Report (continued)

For The Year Ended 31 December 2024

Independent Auditors

The auditors, McKenzies, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr C Brain

Director

26th August 2025

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Independent Auditor's Report

to the Members of

Standage & Co. Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Standage & Co. Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(loss) 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 entity's ability to continue as a going concern for a period of at least 12 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 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or 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.

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Independent Auditor's Report (continued)

to the Members of

Standage & Co. Limited

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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 financial statements.

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

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company's financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with directors and updating our understanding of the sector in which the company operates.

Laws and regulations of direct significance in the context of the company include The Companies Act 2006, and UK Tax legislation.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

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. Also, 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.

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

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 that we are required to state to them in an auditor's 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.

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Independent Auditor's Report (continued)

to the Members of

Standage & Co. Limited

Colin McCoy BA FCA (Senior Statutory Auditor)

for and on behalf of McKenzies , Statutory Auditor

26th August 2025

McKenzies

2 Station Road West

Oxted

Surrey

RH8 9EP

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Standage & Co. Limited

Profit and Loss Account

For The Year Ended 31 December 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER	3	8,506,838	13,259,438
Cost of sales		(7,353,708 )	(10,806,901 )

GROSS PROFIT		1,153,130	2,452,537

Administrative expenses		(918,344 )	(1,624,212 )

OPERATING PROFIT	4	234,786	828,325
Loss on disposal of fixed assets		(12,322 )	-
Other interest receivable and similar income	9	60,920	58,156
Interest payable and similar charges	10	(3,976 )	(3,034 )

PROFIT BEFORE TAXATION		279,408	883,447
Tax on Profit	11	(48,701 )	(266,536 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		230,707	616,911

The notes on pages 13 to 20 form part of these financial statements.

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Standage & Co. Limited

Statement of Comprehensive Income

For The Year Ended 31 December 2024

Statement of Comprehensive Income

	2024	2023
	£	£
PROFIT FOR THE FINANCIAL YEAR	230,707	616,911
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	230,707	616,911

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Standage & Co. Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 00345675

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		190,481		207,814

			190,481		207,814
CURRENT ASSETS
Stocks	13	1,199,758		1,115,794
Debtors	14	2,374,707		2,555,798
Cash at bank and in hand		1,838,328		2,375,634

		5,412,793		6,047,226
Creditors: Amounts Falling Due Within One Year	15	(1,632,306 )		(2,279,816 )

NET CURRENT ASSETS (LIABILITIES)			3,780,487		3,767,410

TOTAL ASSETS LESS CURRENT LIABILITIES			3,970,968		3,975,224

Creditors: Amounts Falling Due After More Than One Year	16		-		(11,396 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	18		(25,311 )		(48,878 )

NET ASSETS			3,945,657		3,914,950

CAPITAL AND RESERVES
Called up share capital	19		1,000		1,000
Capital redemption reserve			800		800
Profit and Loss Account			3,943,857		3,913,150

SHAREHOLDERS' FUNDS			3,945,657		3,914,950

On behalf of the board

Mr C Brain

Director

26th August 2025

The notes on pages 13 to 20 form part of these financial statements.

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Standage & Co. Limited

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Capital Redemption	Profit and Loss Account	Total
	£	£	£	£
As at 1 January 2023	1,000	800	3,846,239	3,848,039
Profit for the year and total comprehensive income	-	-	616,911	616,911

Dividends paid	-	-	(550,000)	(550,000)

As at 31 December 2023 and 1 January 2024	1,000	800	3,913,150	3,914,950


Profit for the year and total comprehensive income	-	-	230,707	230,707

Dividends paid	-	-	(200,000)	(200,000)

As at 31 December 2024	1,000	800	3,943,857	3,945,657

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Standage & Co. Limited

Statement of Cash Flows

For The Year Ended 31 December 2024

Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(94,181 )	1,356,184
Interest paid		(3,976 )	(3,034 )
Tax paid		(217,658 )	(63,852 )

Net cash (used in)/generated from operating activities		(315,815 )	1,289,298

Cash flows from investing activities
Purchase of tangible assets		(63,798 )	(206,081 )
Proceeds from disposal of tangible assets		25,304	-
Interest received		60,920	58,156

Net cash generated from/(used in) investing activities		22,426	(147,925 )

Cash flows from financing activities
Equity dividends paid		(200,000 )	(550,000 )
Repayment of finance leases		(43,917 )	53,646

Net cash used in financing activities		(243,917 )	(496,354 )



(Decrease)/increase in cash and cash equivalents		(537,306 )	645,019
Cash and cash equivalents at beginning of year	2	2,375,634	1,730,615

Cash and cash equivalents at end of year	2	1,838,328	2,375,634

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Standage & Co. Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 December 2024

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2024	2023
	£	£
Profit for the financial year	230,707	616,911
Adjustments for:
Tax on profit	48,701	266,536
Interest expense	3,976	3,034
Interest income	(60,920 )	(58,156 )
Depreciation of tangible assets	43,505	29,938
Loss on disposal of tangible assets	12,322	-
Movements in working capital:
Increase in stocks	(83,964 )	(37,273 )
Decrease in trade and other debtors	181,091	41,478
(Decrease)/increase in trade and other creditors	(469,599 )	493,716

Net cash (used in)/generated from operations	(94,181 )	1,356,184

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	1,838,328	2,375,634

3. Analysis of changes in net funds

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	2,375,634	(537,306)	1,838,328
Finance leases	(53,646)	43,917	(9,729)

	2,321,988	(493,389)	1,828,599

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Standage & Co. Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Standage & Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00345675 . The registered office is Unit 8 Glengall Business Centre, Glengall Road, London, SE15 6NF.

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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Turnover

Turnover represents amounts recievable for goods and services net of value added tax and trade discounts.

Revenue is applied for in the relation to the completion stage of goods and services provided. Revenue is recognised when a certificate for payment has been agreed and recieved and an invoice raised.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost 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:

Motor Vehicles	20% on cost
Fixtures & Fittings	25% on cost and 10% on cost
Computer Equipment	25% on cost

2.4. Leasing and Hire Purchase Contracts

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

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 profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value.

Work in progress is stated at cost plus attributable profit less cash received or receivable. Cost includes all direct expenditure based on a normal level of activity. Where cash received or receivable exceeds cost plus attributable profit the excess has been shown as payments received on account or amounts recoverable on contract.

2.6. Financial Instruments

i) Financial assets

Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

...CONTINUED

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Standage & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Financial Instruments - continued

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, and loans from fellow Group companies are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2.7. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 pay

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.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2024	2023
	£	£
United Kingdom	8,506,838	13,259,438

	8,506,838	13,259,438

4. Operating Profit

The operating profit is stated after charging:

	2024	2023
	£	£
Operating lease rentals	86,608	156,552
Depreciation of tangible fixed assets	43,505	29,938

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Standage & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	8,500	8,501

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	1,148,320	1,192,785
Social security costs	133,136	136,381
Other pension costs	133,330	67,540

	1,414,786	1,396,706

7. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2024	2023
Office	15	15
Administration	5	6

	20	21

8. Directors' remuneration

	2024	2023
	£	£
Emoluments	304,273	298,975
Company contributions to money purchase pension schemes	10,000	5,700

	314,273	304,675

The number of directors to whom retirement benefits were accruing was as follows:

	2024		2023
Money purchase pension schemes	2		2

Information regarding the highest paid director was as follows:

	2024	2023
	£	£
Emoluments	170,272	176,774
Company contributions to money purchase pension schemes	10,000	5,700

	180,272	182,474

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Standage & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Interest Receivable and Similar Income

	2024	2023
	£	£
Bank interest receivable	60,920	58,156

10. Interest Payable and Similar Charges

	2024	2023
	£	£
Finance charges payable under finance leases and hire purchase contracts	3,976	3,034

11. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the profit for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	23.5%	72,268	217,658
Deferred Tax
Deferred taxation			(23,567 )	48,878


Total tax charge for the period			48,701	266,536


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2024	2023
			£	£
Profit before tax			279,408	883,447

Tax on profit at 25% (UK standard rate)			69,852	207,610
Expenses not deductible for tax purposes			18,365	35,940
Capital allowances			(15,949 )	(26,082 )
Short term timing differences			(23,567 )	-
Difference in tax rates			-	190

Total tax charge for the period			48,701	217,658

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Standage & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

12. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2024	235,081	64,481	299,562
Additions	50,882	12,916	63,798
Disposals	(53,723 )	-	(53,723 )

As at 31 December 2024	232,240	77,397	309,637

Depreciation
As at 1 January 2024	29,186	62,562	91,748
Provided during the period	41,862	1,643	43,505
Disposals	(16,097 )	-	(16,097 )

As at 31 December 2024	54,951	64,205	119,156

Net Book Value
As at 31 December 2024	177,289	13,192	190,481

As at 1 January 2024	205,895	1,919	207,814

13. Stocks

	2024	2023
	£	£
Finished goods	500	500
Work in progress	1,199,258	1,115,294

	1,199,758	1,115,794

14. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	529,907	1,071,602
Prepayments and accrued income	38,080	46,476
Amounts owed by group undertakings	1,806,720	1,437,720

	2,374,707	2,555,798

15. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	9,729	42,250
Trade creditors	492,566	309,522
Other creditors	216,190	316,945
Corporation tax	72,268	217,658
Taxation and social security	267,533	783,483
Accruals and deferred income	574,020	609,958

	1,632,306	2,279,816

Page 18

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Standage & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

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

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	-	11,396

17. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	9,729	42,250
Later than one year and not later than five years	-	11,396

	9,729	53,646

	9,729	53,646

18. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	25,311	48,878

19. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1,000 Ordinary Shares of £ 1.000 each	1,000	1,000

20. Other Commitments

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

	2024	2023
	£	£
Not later than one year	87,055	87,055
Later than one year and not later than five years	329,204	329,204
Later than five years	50,974	138,029

	467,233	554,288

21. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £133,330 (2023: £67,540).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

22. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	200,000	550,000

Page 19

Page 20

Standage & Co. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

23. Controlling Parties

The company's immediate parent undertaking is Standage Group Limited .

The ultimate parent undertaking and that of the smallest and largest group for which group accounts are drawn up of which the company is a member is Standage Group Limited (incorporated in England & Wales). Its registered office is Unit 8, Glengall Business Centre, Glengall Road, London, SE15 6NF .

Copies of the group accounts may be obtained from the company's registered office.

The company's ultimate controlling party is Mr C Brain

Page 20