REGISTERED NUMBER: 03755401 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 30 December 2024

for

Solutions Diverse Ltd.

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Income Statement

6

Balance Sheet

7

Notes to the Financial Statements

8

DIRECTORS:

Mr M R Hufford

Mr A J Horsley

Ms J M Horsley

REGISTERED OFFICE:

23 Newbold Road

Kirkby Mallory

Leicester

LE9 7QG

REGISTERED NUMBER:

03755401 (England and Wales)

SENIOR STATUTORY AUDITOR:

Graham Smith FCCA, CMgr, FCMI

AUDITORS:

Cunnington & Co Limited

Edward House

Grange Business Park

Whetstone

Leicestershire

LE8 6EP

The directors present their report with the financial statements of the company for the year ended 30 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 31 December 2023 to the date of this report.

Mr M R Hufford

Mr A J Horsley

Ms J M Horsley

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of 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 judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr A J Horsley - Director

30 September 2025

Opinion

We have audited the financial statements of Solutions Diverse Ltd. (the 'company') for the year ended 30 December 2024 which comprise the Income Statement, Balance Sheet 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 30 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 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 directors are responsible for the other information. The other information comprises the information in 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, 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; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

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:

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.

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. We did not identify any key audit matters relating to irregularities, including fraud.

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.

Graham Smith FCCA, CMgr, FCMI (Senior Statutory Auditor)

for and on behalf of Cunnington & Co Limited

Edward House

Grange Business Park

Whetstone

Leicestershire

LE8 6EP

30 September 2025

TURNOVER

14,385,324

8,196,309

Cost of sales

10,165,319

6,042,347

GROSS PROFIT

4,220,005

2,153,962

Distribution costs

596,710

525,046

Administrative expenses

1,475,731

1,376,701

2,072,441

1,901,747

OPERATING PROFIT

4

2,147,564

252,215

Interest receivable and similar income

5

4

2,147,569

252,219

Interest payable and similar expenses

4,966

4,115

PROFIT BEFORE TAXATION

2,142,603

248,104

Tax on profit

544,774

69,030

PROFIT FOR THE FINANCIAL YEAR

1,597,829

179,074

FIXED ASSETS

Intangible assets

5

2,627

3,152

Tangible assets

6

247,139

279,771

249,766

282,923

CURRENT ASSETS

Stocks

51,015

74,882

Debtors

7

7,232,128

6,585,059

Cash at bank and in hand

1,344,374

141,165

8,627,517

6,801,106

CREDITORS

Amounts falling due within one year

8

2,508,190

2,303,158

NET CURRENT ASSETS

6,119,327

4,497,948

TOTAL ASSETS LESS CURRENT LIABILITIES

6,369,093

4,780,871

CREDITORS

Amounts falling due after more than one year

9

(25,521

)

(35,447

)

PROVISIONS FOR LIABILITIES

10

(39,915

)

(39,596

)

NET ASSETS

6,303,657

4,705,828

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

19,000

19,000

Retained earnings

6,283,657

4,685,828

SHAREHOLDERS' FUNDS

6,303,657

4,705,828

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr A J Horsley - Director

1.	STATUTORY INFORMATION

Solutions Diverse Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting

policies adopted are set out below.

Turnover

Turnover comprises the value of actual work performed during the year on contracts by reference to the estimated margin of these contracts, net of Value Added Tax and trade discounts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

- 30% Reducing Balance

Motor Vehicles

- 15% Reducing Balance

Computer Equipment

- 15% Reducing Balance

Improvements to property

- 20% Reducing Balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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

2024

2023

£

£

Wages and salaries

1,209,253

1,047,807

Social security costs

128,784

105,283

Other pension costs

21,187

18,571

1,359,224

1,171,661

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

2024

2023

Production

16

13

Administration

13

16

Directors

3

3

32

32

Directors' Remuneration

The aggregate remuneration of the directors during the year was as follows:

- Emoluments £25,152

- Company pension contributions to defined contribution schemes £190

Total: £25,342

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

50,938

60,430

Patents and licences amortisation

525

525

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 31 December 2023

and 30 December 2024

44,524

AMORTISATION

At 31 December 2023

41,372

Charge for year

525

At 30 December 2024

41,897

NET BOOK VALUE

At 30 December 2024

2,627

At 30 December 2023

3,152

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 December 2023

712,773

Additions

18,306

At 30 December 2024

731,079

DEPRECIATION

At 31 December 2023

433,002

Charge for year

50,938

At 30 December 2024

483,940

NET BOOK VALUE

At 30 December 2024

247,139

At 30 December 2023

279,771

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

916,839

1,171,934

Amounts owed by group undertakings

5,294,154

4,356,021

Other debtors

1,021,135

1,057,104

7,232,128

6,585,059

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

9,926

8,755

Trade creditors

1,259,515

549,355

Taxation and social security

868,716

331,659

Other creditors

370,033

1,413,389

2,508,190

2,303,158

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

25,521

35,447

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

39,915

39,596

Deferred

tax

£

Balance at 31 December 2023

39,596

Fixed asset timing differences

319

Balance at 30 December 2024

39,915

11.	RELATED PARTY DISCLOSURES

The company has a balance due from its parent undertaking, Solutions Diverse Holdings Ltd, amounting to £5,294,154 (2023: £4,356,021).

The loan is interest-free and repayable on demand.

The directors consider the loan to be recoverable in full.

No guarantees have been given or received.