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COMPANY REGISTRATION NUMBER: 05048973
Dunelm Geotechnical & Environmental Limited
Financial Statements
31 December 2024
Dunelm Geotechnical & Environmental Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Officers and professional advisers
1
Strategic report
2
Directors' report
4
Independent auditor's report to the members
6
Statement of income and retained earnings
10
Statement of financial position
11
Statement of cash flows
12
Notes to the financial statements
13
Dunelm Geotechnical & Environmental Limited
Officers and Professional Advisers
The board of directors
J Huntington
K Jones
R Schofield
J O Forsythe
Registered office
Foundation House
St. Johns Road
Meadowfield Industrial Estate
Durham
County Durham
United Kingdom
DH7 8TZ
Auditor
Chipchase Manners
Chartered accountants & statutory auditor
384 Linthorpe Road
Middlesbrough
TS5 6HA
Dunelm Geotechnical & Environmental Limited
Strategic Report
Year ended 31 December 2024
Principal activity and review of the business
The principal activity of the company is that of site investigation for industry. We operate in a wide range of sectors.
Strategy
The company's objective has always been the achievement of organic and sustainable growth and we continue to explore new markets.
People
The retention, welfare and development of employees has always been important to the success of the company. The company is always trying to ensure that it has the services of high calibre and quality staff and investing in training both internally and externally to improve the skill sets within the company.
Future outlook and going concern
The company has always ensured that adequate levels of reserves are retained within the company and are still at an adequate level in the current year under review.
Principal risks and uncertainties
To continue to attract, train and retain high calibre individuals, as within this sector there is a national skills shortage. Mitigation of this risk is achieved by succession planning, training and a competitive pay structure.
Economics
Business confidence is largely built upon anticipated economic conditions, but whilst there is always a level of some uncertainty, the company has some large projects that are being sanctioned.
Competition
The company operates in a highly competitive market local to its offices. To mitigate this risk, the company continues to offer a competitive service, both in terms of quality and price.
Key performance indicators
Key financial performances indicators include monitoring of working capital and continued turnover growth, whilst maintaining and seeking to maintain margin at both the gross and net level They are monitored monthly to ensure that adequate levels are maintained.
2024 2023
£ £
Gross margin % 16 20
Turnover 11,467,121 9,695,815
Key non financial performance indicators include the monitoring of health and safety and quality throughout the company.
Company progress
The board of directors monitor progress on the company's strategy by continually monitoring existing and future markets requirements and ensuring the company's services are suitable to maintain the competitive position in the market place.
Future developments
The directors of the company intend to continue to actively pursue opportunities within its industry sectors as well as investigating potential new markets.
This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:
J O Forsythe
Director
Registered office:
Foundation House
St. Johns Road
Meadowfield Industrial Estate
Durham
County Durham
United Kingdom
DH7 8TZ
Dunelm Geotechnical & Environmental Limited
Directors' Report
Year ended 31 December 2024
The directors present their report and the financial statements of the company for the year ended 31 December 2024 .
Directors
The directors who served the company during the year were as follows:
J Huntington
K Jones
R Schofield
J O Forsythe
Dividends
Particulars of recommended dividends are detailed in note 12 to the financial statements.
Future developments
Information relating to the future developments of the company has been detailed in the strategic report.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, 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 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 profit or loss of the company for that period. In preparing these 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; - 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. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:
J O Forsythe
Director
Registered office:
Foundation House
St. Johns Road
Meadowfield Industrial Estate
Durham
County Durham
United Kingdom
DH7 8TZ
Dunelm Geotechnical & Environmental Limited
Independent Auditor's Report to the Members of Dunelm Geotechnical & Environmental Limited
Year ended 31 December 2024
Opinion
We have audited the financial statements of Dunelm Geotechnical & Environmental Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows 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, including FRS 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 company's affairs as at 31 December 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the 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 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 directors' responsibilities statement, 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 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 example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. The objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud or error. It is also our objective to obtain sufficient appropriate audit evidence regarding the risks we have assessed and respond as appropriate to them. Even though an audit is planned and performed in accordance with the ISA' (UK), an audit has an unavoidable risk that material misstatements in the financial statements may not be detected. In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud, our audit procedures include the following: - We obtained an understanding of the legal and regulatory frameworks applicable to the company and the environment in which they operate. - We obtained an understanding of how the company ensures their compliance with the applicable legal and regulatory frameworks through enquiries to the management and those charged with ensuring such compliance with the company. We corroborated our enquiries through a review of transactions within the financial statements that were linked to compliance with laws and regulations. We also reviewed any available board minutes. - We assessed the susceptibility of the company's financial statements to material misstatement with regards to how fraud might occur. Audit procedures performed by the audit team included: - Identifying and assessing the effectiveness of controls the management of the company has in place to detect and prevent possible fraud; - Understanding how those involved with ensuring compliance considered and addressed the potential override of controls or undue influence over the financial reports; - Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements; As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 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.
Christopher Gorman FCA FCCA
(Senior Statutory Auditor)
For and on behalf of
Chipchase Manners
Chartered accountants & statutory auditor
384 Linthorpe Road
Middlesbrough
TS5 6HA
26 September 2025
Dunelm Geotechnical & Environmental Limited
Statement of Income and Retained Earnings
Year ended 31 December 2024
2024
2023
Note
£
£
Turnover
4
11,467,121
9,695,815
Cost of sales
9,664,875
7,800,195
-------------
------------
Gross profit
1,802,246
1,895,620
Administrative expenses
1,590,576
1,625,056
Other operating income
5
6,600
228,530
------------
------------
Operating profit
6
218,270
499,094
Interest payable and similar expenses
10
8,046
8,614
------------
------------
Profit before taxation
210,224
490,480
Tax on profit
11
57,732
67,202
---------
---------
Profit for the financial year and total comprehensive income
152,492
423,278
---------
---------
Dividends paid and payable
12
( 403,019)
( 585,990)
Retained earnings at the start of the year
1,701,528
1,864,240
------------
------------
Retained earnings at the end of the year
1,451,001
1,701,528
------------
------------
All the activities of the company are from continuing operations.
Dunelm Geotechnical & Environmental Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
13
385,602
451,022
Current assets
Stocks
14
154,211
376,875
Debtors
15
2,991,366
2,531,071
Cash at bank and in hand
963,672
1,025,607
------------
------------
4,109,249
3,933,553
Creditors: amounts falling due within one year
16
2,820,070
2,320,861
------------
------------
Net current assets
1,289,179
1,612,692
------------
------------
Total assets less current liabilities
1,674,781
2,063,714
Creditors: amounts falling due after more than one year
17
63,438
214,486
Provisions
19
95,982
83,340
------------
------------
Net assets
1,515,361
1,765,888
------------
------------
Capital and reserves
Called up share capital
22
1,000
1,000
Share premium account
23
63,360
63,360
Profit and loss account
23
1,451,001
1,701,528
------------
------------
Shareholders funds
1,515,361
1,765,888
------------
------------
These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:
J O Forsythe
Director
Company registration number: 05048973
Dunelm Geotechnical & Environmental Limited
Statement of Cash Flows
Year ended 31 December 2024
2024
2023
£
£
Cash flows from operating activities
Profit for the financial year
152,492
423,278
Adjustments for:
Depreciation of tangible assets
103,104
108,881
Interest payable and similar expenses
8,046
8,614
Gains on disposal of tangible assets
( 833)
–
Tax on profit
57,732
67,202
Accrued income
( 11,204)
( 75,968)
Changes in:
Stocks
222,664
( 165,702)
Trade and other debtors
( 460,295)
717,292
Trade and other creditors
533,319
( 682,143)
---------
---------
Cash generated from operations
605,025
401,454
Interest paid
( 8,046)
( 8,614)
Tax paid
( 66,024)
( 148,548)
---------
---------
Net cash from operating activities
530,955
244,292
---------
---------
Cash flows from investing activities
Purchase of tangible assets
( 37,684)
( 15,150)
Proceeds from sale of tangible assets
833
–
---------
---------
Net cash used in investing activities
( 36,851)
( 15,150)
---------
---------
Cash flows from financing activities
Proceeds from borrowings
( 90,000)
( 90,147)
Proceeds from loans from participating interests
–
( 7,951)
Payments of finance lease liabilities
( 63,020)
( 67,253)
Dividends paid
( 403,019)
( 585,990)
---------
---------
Net cash used in financing activities
( 556,039)
( 751,341)
---------
---------
Net decrease in cash and cash equivalents
( 61,935)
( 522,199)
Cash and cash equivalents at beginning of year
1,025,607
1,547,806
------------
------------
Cash and cash equivalents at end of year
963,672
1,025,607
------------
------------
Dunelm Geotechnical & Environmental Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Foundation House, St. Johns Road, Meadowfield Industrial Estate, Durham, County Durham, DH7 8TZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for the revenues and expenses during the year. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
Straight line over the length of the lease
Plant and machinery
-
15% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Turnover
Turnover arises from:
2024
2023
£
£
Rendering of services
11,467,121
9,695,815
-------------
------------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Other operating income
2024
2023
£
£
Damages and compensation claim receivable
–
221,930
Grant income
6,600
6,600
-------
---------
6,600
228,530
-------
---------
6. Operating profit
Operating profit or loss is stated after charging/crediting:
2024
2023
£
£
Depreciation of tangible assets
103,104
108,881
Gains on disposal of tangible assets
( 833)
–
Impairment of trade debtors
8,796
40,000
---------
---------
7. Auditor's remuneration
2024
2023
£
£
Fees payable for the audit of the financial statements
5,500
5,500
-------
-------
8. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
2024
2023
No.
No.
Production staff
56
55
Administrative staff
12
15
----
----
68
70
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2024
2023
£
£
Wages and salaries
1,882,308
2,287,481
Social security costs
215,018
228,334
Other pension costs
231,190
222,716
------------
------------
2,328,516
2,738,531
------------
------------
9. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:
2024
2023
£
£
Remuneration
227,733
237,601
Company contributions to defined contribution pension plans
29,389
14,256
---------
---------
257,122
251,857
---------
---------
Remuneration of the highest paid director in respect of qualifying services:
2024
2023
£
£
Aggregate remuneration
76,432
76,105
Company contributions to defined contribution pension plans
9,057
8,580
--------
--------
85,489
84,685
--------
--------
10. Interest payable and similar expenses
2024
2023
£
£
Interest on obligations under finance leases and hire purchase contracts
8,046
8,614
-------
-------
11. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
62,065
82,998
Adjustments in respect of prior periods
( 16,975)
544
--------
--------
Total current tax
45,090
83,542
--------
--------
Deferred tax:
Origination and reversal of timing differences
12,642
( 16,340)
--------
--------
Tax on profit
57,732
67,202
--------
--------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25 % (2023: 23.50 %).
2024
2023
£
£
Profit on ordinary activities before taxation
210,224
490,480
---------
---------
Profit on ordinary activities by rate of tax
52,556
115,263
Adjustment to tax charge in respect of prior periods
( 16,975)
544
Effect of expenses not deductible for tax purposes
382
780
Effect of capital allowances and depreciation
16,355
21,928
Utilisation of tax losses
( 7,228)
( 54,973)
Deferred taxation
12,642
(16,340)
---------
---------
Tax on profit
57,732
67,202
---------
---------
12. Dividends
2024
2023
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
403,019
585,990
---------
---------
13. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
77,227
651,780
212,812
94,700
1,036,519
Additions
–
6,705
30,979
–
37,684
Disposals
–
–
–
( 24,799)
( 24,799)
--------
---------
---------
--------
------------
At 31 December 2024
77,227
658,485
243,791
69,901
1,049,404
--------
---------
---------
--------
------------
Depreciation
At 1 January 2024
64,835
317,069
108,893
94,700
585,497
Charge for the year
7,716
69,273
26,115
–
103,104
Disposals
–
–
–
( 24,799)
( 24,799)
--------
---------
---------
--------
------------
At 31 December 2024
72,551
386,342
135,008
69,901
663,802
--------
---------
---------
--------
------------
Carrying amount
At 31 December 2024
4,676
272,143
108,783
–
385,602
--------
---------
---------
--------
------------
At 31 December 2023
12,392
334,711
103,919
–
451,022
--------
---------
---------
--------
------------
14. Stocks
2024
2023
£
£
Work in progress
154,211
376,875
---------
---------
15. Debtors
2024
2023
£
£
Trade debtors
1,941,169
1,520,854
Amounts owed by group undertakings
958,041
958,041
Prepayments and accrued income
75,004
46,167
Other debtors
17,152
6,009
------------
------------
2,991,366
2,531,071
------------
------------
Included in trade debtors are factored debts of £1,058,962 (2023:£1,031,310).
16. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
90,000
90,000
Trade creditors
1,439,553
1,012,646
Accruals and deferred income
495,093
512,897
Corporation tax
62,064
82,998
Social security and other taxes
280,115
331,544
Obligations under finance leases and hire purchase contracts
61,048
63,020
Director loan accounts
1,978
1,978
Other creditors
390,219
225,778
------------
------------
2,820,070
2,320,861
------------
------------
Included in other creditors is £352,075 (2023: £200,153) representing advances from a debt factor. If any debt is outstanding at the year end, the debt factors are secured by a first fixed charge over factored debts and a floating charge over all other property or undertaking of the company. Secured against all property and undertakings of the company and its parent company, Dunelm G & E Holdings Limited, is a fixed and floating charge in favour of G R Dresser, K N Dresser and P A E Izatt-Lowry.
17. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
37,500
127,500
Obligations under finance leases and hire purchase contracts
25,938
86,986
--------
---------
63,438
214,486
--------
---------
18. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
2024
2023
£
£
Not later than 1 year
61,048
63,020
Later than 1 year and not later than 5 years
25,938
86,986
--------
---------
86,986
150,006
--------
---------
19. Provisions
Deferred tax (note 20)
£
At 1 January 2024
83,340
Additions
12,642
--------
At 31 December 2024
95,982
--------
20. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 19)
95,982
83,340
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
95,982
83,340
--------
--------
21. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 231,190 (2023: £ 222,716 ).
22. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
23. Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.
24. Analysis of changes in net debt
At 1 Jan 2024
Cash flows
At 31 Dec 2024
£
£
£
Cash at bank and in hand
1,025,607
(61,935)
963,672
Debt due within one year
(154,998)
1,972
(153,026)
Debt due after one year
(214,486)
151,048
(63,438)
------------
---------
---------
656,123
91,085
747,208
------------
---------
---------
25. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
63,662
74,877
Later than 1 year and not later than 5 years
61,648
44,874
---------
---------
125,310
119,751
---------
---------
26. Directors' advances, credits and guarantees
During the year there were no advances, credits or guarantees made to the directors.
27. Related party transactions
The company operated inter-company loan accounts with associated companies during the year. At the balance sheet date the amounts to be received was £958,041 (2023: £958,041). A dividend of £403,019 (2023: £585,990) was paid to the parent company during the year. During the year, sales of £7,318 (2023: £10,461) and purchases of £243,214 (2023: £140,571) were made to these associated companies. At the balance sheet date, £NIL (2023: £5,583) was due to and £30,147 (2023: £62,024) was owed by Dunelm Geotechnical & Environmental Limited . All transactions were conducted at a true commercial rate.
28. Controlling party
The company is under the control of Dunelm G & E Holdings Ltd by virtue of its 100% shareholding and therefore views Dunelm G&E Holdings Ltd as its ultimate parent undertaking.