REGISTERED NUMBER: 00826821 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

BIS Valves Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L P Card

N E Frost

D J Kelly

Mrs K Kelly

Mrs T Thompson

A D Cossins

SECRETARY:

Mrs T Thompson

REGISTERED OFFICE:

Unit 17- 23 Kingfisher Park

Three Cross Road, West Moors

Wimborne

Dorset

BH21 6US

REGISTERED NUMBER:

00826821 (England and Wales)

AUDITORS:

Carter & Coley Limited

Chartered Accountants and Statutory Auditors

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

4

655,469

458,760

Investments

5

100

100

655,569

458,860

CURRENT ASSETS

Stocks

1,752,194

1,394,453

Debtors

6

3,008,075

2,355,638

Cash at bank and in hand

661,132

1,014,029

5,421,401

4,764,120

CREDITORS

Amounts falling due within one year

7

1,862,935

1,335,127

NET CURRENT ASSETS

3,558,466

3,428,993

TOTAL ASSETS LESS CURRENT LIABILITIES

4,214,035

3,887,853

CREDITORS

Amounts falling due after more than one year

8

(23,220

)

(130,508

)

PROVISIONS FOR LIABILITIES

(136,625

)

(96,145

)

NET ASSETS

4,054,190

3,661,200

CAPITAL AND RESERVES

Called up share capital

309,957

309,957

Share premium

77,603

77,603

Capital redemption reserve

306,510

306,510

Retained earnings

3,360,120

2,967,130

4,054,190

3,661,200

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mrs T Thompson - Director

1.	STATUTORY INFORMATION

BIS Valves Limited 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.

Amounts recoverable on contracts are reflected in the accounts on a contract by contract basis by recording turnover and related costs as the contract activity progresses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

25% on reducing balance, 25% on cost, 20% on reducing balance and 15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 88 (2023 - 82 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

298,760

3,092,924

3,391,684

Additions

65,384

235,364

300,748

At 31 December 2024

364,144

3,328,288

3,692,432

DEPRECIATION

At 1 January 2024

234,233

2,698,691

2,932,924

Charge for year

9,236

94,803

104,039

At 31 December 2024

243,469

2,793,494

3,036,963

NET BOOK VALUE

At 31 December 2024

120,675

534,794

655,469

At 31 December 2023

64,527

394,233

458,760

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

26,500

DEPRECIATION

At 1 January 2024

2,208

Charge for year

4,859

At 31 December 2024

7,067

NET BOOK VALUE

At 31 December 2024

19,433

At 31 December 2023

24,292

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakin

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

6.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

2,194,601

1,537,793

Amounts owed by group undertakings

71,265

233,292

Amounts recoverable on contract

501,495

495,633

Other debtors

127,326

88,920

2,894,687

2,355,638

Amounts falling due after more than one year:

Amounts owed by group undertakings

113,388

-

Aggregate amounts

3,008,075

2,355,638

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 9)

99,246

130,176

Hire purchase contracts (see note 10)

9,178

8,423

Payments on account

41,154

85,573

Trade creditors

1,016,610

589,428

Taxation and social security

224,497

168,711

Other creditors

472,250

352,816

1,862,935

1,335,127

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 9)

18,348

116,458

Hire purchase contracts (see note 10)

4,872

14,050

23,220

130,508

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank loans

99,246

130,176

Amounts falling due between one and two years:

Bank loans - 1-2 years

18,348

99,900

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

16,558

Included in Bank loans are two CBILS loans of £250,000 each from Funding Circle. The loans are for a term of 5 years, and are repayable by instalments, one is due to mature in July 2025 and the other in March 2026.

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

9,178

8,423

Between one and five years

4,872

14,050

14,050

22,473

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

22,723

23,410

Between one and five years

150,828

150,828

173,551

174,238

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

14,050

22,473

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Clark BFP FCA (Senior Statutory Auditor)

for and on behalf of Carter & Coley Limited

13.	RELATED PARTY DISCLOSURES

During the year the company paid rent to BIS Valves retirement benefit scheme of £86,500 (2023 £89,183).

The trustee of the scheme is the Director Mr D.J. Kelly.

During the year the company made purchases from BIS Wells Ltd totalling £34,907 (2023 £17,703)

The company made sales and management charges to BIS Wells Ltd of £327,675 (2023 £383,211) in

the year.

As at December 2024 BIS Wells Ltd owed the company £184,653 (2023 £233,292) in loans and £332,058 (2023 £279,417) in Debtors.

BIS Wells Ltd is a wholly owned subsidiary of BIS Valves Limited.

During the year the directors were paid dividends of £63,781 (2023 £90,637).