REGISTERED NUMBER: 01631813 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

T.D. CROSS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTOR:

M D I Capewell

REGISTERED OFFICE:

Shady Lane

Great Barr

Birmingham

West Mids

B44 9EU

REGISTERED NUMBER:

01631813 (England and Wales)

AUDITORS:

Prime

Chartered Accountants

Statutory Auditor

Corner Oak

1 Homer Road

Solihull

B91 3QG

The director presents his strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

T D Cross Limited is a wholly owned subsidiary (ultimately) of Astwood Holdings Limited. The company trading as Cross & Morse is a leading manufacturer and distributor of mechanical power transmission products. T D Cross has been well established in the UK for over 100 years, operating from its factory in Birmingham. It also sells worldwide to over 70 countries.

2024 remained a very challenging year for industry in the UK and the world beyond. Turnover has been affected accordingly, falling from £5.2m in 2023 to £4.9m. Inflationary pressures continued to increase material, labour and overhead input costs. However, while these pressures remained the business did manage to deliver a net profit in line with the previous year.

During the year the company was acquired by Astwood Group. As new owners, we are seeking to sustainably grow and build the business further in the coming years.

This approach together with the company's wide customer and extensive industry base will allow the company to weather any further economic challenges.

PRINCIPAL RISKS AND UNCERTAINTIES

Inflation continues to be a concern, although hopefully we are through the worst of this impact. Increased shipping costs continue to impact margins, arising from both the disruption in the Middle East and arising from Brexit. Selling into the EU continues to be a challenge with customers having to incur customs charges. The company is looking to other geographical areas to offset this, while also refocusing its UK sales focus.

Customers are continually looking for more competitive pricing, supported by large stock availability. In order to support this the company will undertake a stock and pricing review, starting in the forthcoming year.

As part of the acquisition of the business by Astwood Group the company took on a finance facility. Current trading comfortably supports this facility, but this will require ongoing monitoring.

DEVELOPMENT AND PERFORMANCE

The company continues to be a strong local employer, with a large percentage of its staff long serving. It is now looking to formally recognise this service, while continuing to invest and develop in young people through its apprenticeship scheme.

KEY PERFORMANCE INDICATORS

In conjunction with its ISO accreditation the company monitors a number of KPIs.

The financial KPI is value added per £1 of payroll cost. A target of £1.80 was set for 2024, £1.59 was achieved, arising from lower sales and higher labour costs. Other KPIs comprise performance to promise to customers, level of works order rejects and on time works orders. All of these for 2024 were within target.

KPI's will be reviewed and updated for next year's results.

ON BEHALF OF THE BOARD:

M D I Capewell - Director

30 September 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS

During the year dividends were paid totalling £48,000 (2023: £111,000).

DIRECTORS

The directors who have held office during the period from 1 January 2024 to the date of this report are as follows:

D W Shadbolt - resigned 13 November 2024

M D Scudamore - resigned 13 November 2024

M D I Capewell - appointed 13 November 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 these financial statements, the director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he 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 company's auditors are aware of that information.

AUDITORS

The auditors, Prime, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M D I Capewell - Director

30 September 2025

Opinion

We have audited the financial statements of T.D. Cross Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 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; 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 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director 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 Report of the Director.

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, 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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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.

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

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 industry 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;

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; and

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

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 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;

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

- reviewing correspondence with HMRC and other relevant parties.

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.

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.

Morgan Davies FCA (Senior Statutory Auditor)

for and on behalf of Prime

Chartered Accountants

Statutory Auditor

Corner Oak

1 Homer Road

Solihull

B91 3QG

30 September 2025

TURNOVER

3

4,946,901

5,243,132

Cost of sales

1,645,300

1,827,704

GROSS PROFIT

3,301,601

3,415,428

Distribution costs

2,138,634

2,185,014

Administrative expenses

1,060,553

953,981

3,199,187

3,138,995

OPERATING PROFIT

5

102,414

276,433

Interest receivable and similar income

22,883

16,043

125,297

292,476

Interest payable and similar expenses

6

56,655

-

PROFIT BEFORE TAXATION

68,642

292,476

Tax on profit

7

17,160

69,880

PROFIT FOR THE FINANCIAL YEAR

51,482

222,596

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

51,482

222,596

FIXED ASSETS

Tangible assets

9

2,205,954

2,339,132

Investments

10

200

200

2,206,154

2,339,332

CURRENT ASSETS

Stocks

11

1,093,880

1,332,319

Debtors

12

4,315,519

1,014,808

Cash at bank and in hand

80,086

1,379,946

5,489,485

3,727,073

CREDITORS

Amounts falling due within one year

13

1,288,372

709,706

NET CURRENT ASSETS

4,201,113

3,017,367

TOTAL ASSETS LESS CURRENT LIABILITIES

6,407,267

5,356,699

CREDITORS

Amounts falling due after more than one year

14

(1,078,953

)

-

PROVISIONS FOR LIABILITIES

17

(445,798

)

(477,665

)

NET ASSETS

4,882,516

4,879,034

CAPITAL AND RESERVES

Called up share capital

18

388,761

388,761

Share premium

91,667

91,667

Revaluation reserve

1,102,620

1,102,620

Retained earnings

3,299,468

3,295,986

SHAREHOLDERS' FUNDS

4,882,516

4,879,034

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

M D I Capewell - Director

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

388,761

3,184,390

91,667

1,102,620

4,767,438

Changes in equity

Dividends

-

(111,000

)

-

-

(111,000

)

Total comprehensive income

-

222,596

-

-

222,596

Balance at 31 December 2023

388,761

3,295,986

91,667

1,102,620

4,879,034

Changes in equity

Dividends

-

(48,000

)

-

-

(48,000

)

Total comprehensive income

-

51,482

-

-

51,482

Balance at 31 December 2024

388,761

3,299,468

91,667

1,102,620

4,882,516

1.	STATUTORY INFORMATION

T.D. Cross 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets

Going concern

The company continues to be profitable and well resourced. The directors have a reasonable expectation that the company will continue in operational existence for at least 12 months from the date of approval of the financial statements. Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about T.D. Cross Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. The consolidation has been prepared in the immediate parent company Cross Holdings Limited.

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.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reporting of assets, liabilities, income and expenses. Estimates and underlying assumptions are reviewed on an ongoing basis. Actual results may differ from estimates calculated using these judgements and assumptions. Key sources of estimated uncertainty and critical accounting judgements is as follows:

Valuation of Stock

Stock comprises goods purchased for resale. Provisions are made against slow moving, obsolete and damaged stock for which the net realisable value is estimated to be less than cost. Determining the net realisable value of the wide range of products held in many locations requires estimation to be applied to determine the likely saleability of products and the potential prices that can be achieved. In arriving at any provisions for net realisable value, the Directors take into account the age, condition, quality of the products in stock and recent sales trends. The actual realisable value of stock may differ from the estimated value on which the provision is based. The company held provisions in respect of stock balances at 31 December 2024 amounting to £516k (2023: £491k)

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

The directors have adopted a policy of revaluation with regards to freehold property.

Freehold property is carried at its revalued amount, being fair value at the date of valuation less subsequent losses arising from impairment reviews. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure the carrying amount does not differ materially from those that would be determined using fair values at the end of each accounting period.

Any revaluation increase in the carrying amount of freehold property is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in the profit and loss account, in which case the increase is credited to the profit and loss to the extent that the previous decrease is expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against the revaluation reserve in equity; decreases exceeding the balance in the revaluation reserve relating to an asset are recognised in profit or loss.

Freehold property is not depreciated as the company performs an annual impairment review in order to identify any impairment in fair value and any depreciation further to this review would be considered to be immaterial.

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 Statement of Comprehensive Income, 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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for the decrease in impairment loss, and the decrease can be related objectively to an event occuring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

4,285,616

4,408,702

Rest of Europe

370,024

502,342

America

208,797

215,075

Australia and Far East

65,753

92,667

Central and Southern Africa

2,589

14,030

Middle East & Northern Africa

14,122

10,316

4,946,901

5,243,132

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

2,082,525

2,124,951

Other pension costs

56,109

60,063

2,138,634

2,185,014

The average number of employees during the year was as follows:

2024

2023

Production staff

39

41

Sales & distribution staff

13

14

Administrative staff and management

6

7

58

62

2024

2023

£

£

Directors' remuneration

195,036

205,419

Directors' pension contributions to money purchase schemes

16,720

18,240

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024

2023

£

£

Depreciation - owned assets

154,169

138,131

(Profit)/loss on disposal of fixed assets

(850

)

948

Auditors' remuneration

26,113

17,824

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank loan interest

56,655

-

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

49,027

9,228

Deferred tax

(31,867

)

60,652

Tax on profit

17,160

69,880

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

68,642

292,476

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 19%)

17,161

55,570

Effects of:

Expenses not deductible for tax purposes

-

4,930

Income not taxable for tax purposes

(213

)

-

Capital allowances in excess of depreciation

-

(51,273

)

Depreciation in excess of capital allowances

32,079

-

Rounding

-

1

Deferred Tax

(31,867

)

60,652

Total tax charge

17,160

69,880

8.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Interim

48,000

111,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2024

1,500,000

3,489,008

509,456

48,781

5,547,245

Additions

-

16,551

4,440

-

20,991

Disposals

-

(6,562

)

(45,319

)

-

(51,881

)

At 31 December 2024

1,500,000

3,498,997

468,577

48,781

5,516,355

DEPRECIATION

At 1 January 2024

-

2,689,948

486,786

31,379

3,208,113

Charge for year

-

139,713

10,106

4,350

154,169

Eliminated on disposal

-

(6,562

)

(45,319

)

-

(51,881

)

At 31 December 2024

-

2,823,099

451,573

35,729

3,310,401

NET BOOK VALUE

At 31 December 2024

1,500,000

675,898

17,004

13,052

2,205,954

At 31 December 2023

1,500,000

799,060

22,670

17,402

2,339,132

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2010

684,906

-

-

-

684,906

Valuation in 2015

100,000

-

-

-

100,000

Valuation in 2023

600,000

-

-

-

600,000

Cost

115,094

3,498,997

468,577

48,781

4,131,449

1,500,000

3,498,997

468,577

48,781

5,516,355

If Freehold Property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

115,094

115,094

Freehold Property was valued on an open market basis on 8 August 2024 by Innes England .

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

200

NET BOOK VALUE

At 31 December 2024

200

At 31 December 2023

200

11.

STOCKS

2024

2023

£

£

Raw materials

36,573

40,504

WIP and components

234,663

274,331

Finished goods

822,644

1,017,484

1,093,880

1,332,319

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,000,346

1,000,044

Amounts owed by group undertakings

3,280,952

-

Prepayments

34,221

14,764

4,315,519

1,014,808

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 15)

695,487

-

Trade creditors

327,069

427,149

Amounts owed to group undertakings

200

200

Tax

49,027

9,228

Social security and other taxes

40,306

49,819

VAT

119,986

135,695

Accrued expenses

56,297

87,615

1,288,372

709,706