Maple Sunscreening Limited Company accounts

COMPANY REGISTRATION NUMBER: 07333371

Maple Sunscreening Limited

Financial Statements

31 December 2024

Maple Sunscreening 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 comprehensive income	10

Statement of financial position	11

Statement of changes in equity	12

Statement of cash flows	13

Notes to the financial statements	14

Maple Sunscreening Limited

Officers and Professional Advisers

The board of directors	Mr J McGrath
	Mr S McGrath

Registered office	Bramhall Technology Park
	Units 11a-11d
	Pepper Road, Hazel Grove
	Stockport
	Cheshire
	SK7 5SA

Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU

Maple Sunscreening Limited

Strategic Report

Year ended 31 December 2024

The directors present their strategic report for the year ended 31st December 2024. Principal activity The principal activity of the company continues to be that of the design, manufacture and installation of solar shading, weather protection and screening for building exteriors and interiors.

Review of business 2024 has been a good year showing an improvement in trading. Turnover has decreased in 2024 from £24.75m to £20.78m mainly due to timing of contracts. A number of contracts were delayed on site in the early part of the year. The gross profit percentage improved in the year as material costs stabilised and we were able to build this into tendered margins. We also didn't have any legacy contracts form the covid era so there were minimal write downs in the year. Gross profit value increased from £5m to £5.6m, resulting in a profit before tax of £3.1m (2023: £2.81m). Our overheads have increased as we have invested for future growth. We see this continuing but at a slower pace. We continue to monitor our overhead costs, ensuring we have sufficient resources to deliver our turnover effectively. We have delivered for our customers in 2024 and we expect to increase GP% in the coming year due to building in cost increases to our tenders and the efficiencies we have gained through implementing our quality system. The directors and management team are constantly monitoring our three-year business plan which is planned for growth. We have strengthened and invested in our team to achieve our growth forecasts and continue to do so. We continued to deliver our service safely and effectively and maintained our relationship with our key customers and suppliers. We work well with our customers and aim to be their subcontractor of choice by offering them innovative solutions. We have organised more customer events in 2024 to explore what our customers want and to educate them on the latest products in the market. We feel this has come about due to a combination of hard work and expertise in our field; we understand our products and processes. We are also focused on great customer service, product innovation and quality. This has enabled us to deliver our customers with products and services that go above and beyond the norm.We constantly ask our customers for feedback which is mostly positive. Where feedback can lead to improvements, we work with our clients to ensure we improve at the next opportunity. We continue to invest in our facilities, equipment, technology and colleagues. We aim to pay our suppliers within agreed credit terms. The working capital cycle was uneventful with changes in stock/debtors/creditors reflecting the growth in turnover. We have continued to invest in the business with investment in technology and increased investment in our people. and the. The company did not borrow during the year so we expect to steadily increase our cash reserves. We acquired the d Maple has continued to provide more products and services to new and existing clients and build on our continuing success. During the year the company undertook some research and development activities as it continues to advance and grow its knowledge in the sector and increased our R & D concerning Data centres.

Principal risks and uncertainties. The key business risks and uncertainties affecting the company are considered to relate to: - Supply chain disruption - Market conditions in the United Kingdom. The company aims to differentiate its service by consistently delivering high-quality products coupled with a strategy of continuous innovation of both products and manufacturing processes. The directors monitor the state of the market segments that affect the business and evolves the business strategy as required.

Key performance indicators. The company utilises a range of measures to assess its performance on the most appropriate time basis. These range from financial measures across the company to operational measures within individual departments. Development and performance The company continues to invest in manufacturing capacity and innovative products to ensure its future success. This will give it the capability to deal with both opportunities and problems as they arise. As the business is moving into new markets, this is allowing the business to continue to invest in its people, processes and technology. The business is on a journey towards becoming more automated in its processes and allowing the business to scale in the coming years. Part of this development is continuing to bring new products to the market and perfecting our pre-construction support for our customers.

This report was approved by the board of directors on 30 September 2025 and signed on behalf of the board by:

Mr S McGrath

Director

Registered office:

Bramhall Technology Park

Units 11a-11d

Pepper Road, Hazel Grove

Stockport

Cheshire

SK7 5SA

Maple Sunscreening 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:

Mr J McGrath
Mr S McGrath

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

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 30 September 2025 and signed on behalf of the board by:

Mr S McGrath

Director

Registered office:

Bramhall Technology Park

Units 11a-11d

Pepper Road, Hazel Grove

Stockport

Cheshire

SK7 5SA

Maple Sunscreening Limited

Independent Auditor's Report to the Members of Maple Sunscreening Limited

Year ended 31 December 2024

Opinion

We have audited the financial statements of Maple Sunscreening Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, 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: - Review of directors minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that company must follow in the year and to the date of signing the financial statements - The assessment of fraud was consider as low due to the segregation of duties seen, the low levels of cash handled and the regular reporting required of the company to its parent. A review of journal entries and consideration of their appropriateness was carried out through the audit - During the audit we speak to management, test the systems and speak to various members of the finance function to understand the entity its processes and the nature of trade to assist in determining if the financial statements are true and fair. - Challenging assumptions made by management in making their significant accounting estimates. - Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations - Review work in progress and estimates around % completion, ensure margins are reasonable and expected due to post balance sheet movements. - Ensure investments are materially stated, and no impairment is due. - Review and challenge health and safety requirements, onsite and in the factory to ensure compliance with the HSE. Review external audit reports and investigate if any breaches have been incurred or reportable instances are due. 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.

Penelope Bowden ACA

(Senior Statutory Auditor)

For and on behalf of

Riverside Accountancy Lancaster Limited

Chartered accountants & statutory auditor

Suite 2, 2 Mannin Way

Lancaster Business Park

Caton Road

Lancaster

LA1 3SU

30 September 2025

Maple Sunscreening Limited

Statement of Comprehensive Income

Year ended 31 December 2024

		2024	2023
Note		£	£
Turnover	4	20,778,709	24,755,481

Cost of sales	15,159,781	19,711,512
	-------------	-------------
Gross profit	5,618,928	5,043,969

Administrative expenses		2,862,432	2,307,179
		------------	------------
Operating profit	5	2,756,496	2,736,790

Other interest receivable and similar income	9	131,011	80,064
Interest payable and similar expenses	10	21,108	438
		------------	------------
Profit before taxation		2,866,399	2,816,416

Tax on profit	11	549,661	345,753
		------------	------------
Profit for the financial year and total comprehensive income		2,316,738	2,470,663
		------------	------------

All the activities of the company are from continuing operations.

Maple Sunscreening Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	13	532,151	591,589
Tangible assets	14	186,353	237,570
Investments	15	10,004	10,004
		---------	---------
		728,508	839,163

Current assets

Stocks	16	240,461	1,003,676
Debtors	17	8,896,644	7,341,059
Cash at bank and in hand		3,537,450	3,940,403
		-------------	-------------
		12,674,555	12,285,138

Creditors: amounts falling due within one year	18	4,416,740	4,323,327
		-------------	-------------
Net current assets		8,257,815	7,961,811
		------------	------------
Total assets less current liabilities		8,986,323	8,800,974

Provisions	19	391,558	313,126
		------------	------------
Net assets		8,594,765	8,487,848
		------------	------------

Capital and reserves

Called up share capital	22	211	202
Share premium account	23	299,982	299,982
Profit and loss account	23	8,294,572	8,187,664
		------------	------------
Shareholders funds		8,594,765	8,487,848
		------------	------------

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr S McGrath

Director

Company registration number: 07333371

Maple Sunscreening Limited

Statement of Changes in Equity

Year ended 31 December 2024

		Called up share capital	Share premium account	Profit and loss account	Total
		£	£	£	£
At 1 January 2023		202	299,982	6,358,993	6,659,177

Profit for the year				2,470,663	2,470,663
		----	---------	------------	------------
Total comprehensive income for the year		–	–	2,470,663	2,470,663

Dividends paid and payable	12	–	–	( 641,992)	( 641,992)
		----	---------	------------	------------
Total investments by and distributions to owners		–	–	( 641,992)	( 641,992)

At 31 December 2023		202	299,982	8,187,664	8,487,848

Profit for the year				2,316,738	2,316,738
		----	---------	------------	------------
Total comprehensive income for the year		–	–	2,316,738	2,316,738

Issue of shares		9	–	–	9
Dividends paid and payable	12	–	–	( 2,209,830)	( 2,209,830)
		----	----	------------	------------
Total investments by and distributions to owners		9	–	( 2,209,830)	( 2,209,821)

		----	---------	------------	------------
At 31 December 2024		211	299,982	8,294,572	8,594,765
		----	---------	------------	------------

Maple Sunscreening Limited

Statement of Cash Flows

Year ended 31 December 2024

	2024	2023
	£	£

Cash flows from operating activities

Profit for the financial year	2,316,738	2,470,663

Adjustments for:
Depreciation of tangible assets	66,586	64,969
Amortisation of intangible assets	146,089	135,229
Other interest receivable and similar income	( 131,011)	( 80,064)
Interest payable and similar expenses	21,108	438
Loss on disposal of tangible assets	10,732	–
Gains on disposal of intangible assets	( 19,567)	( 316)
Tax on profit	549,661	345,753
Accrued (income)/expenses	( 65,329)	5,108

Changes in:
Stocks	763,215	( 231,174)
Trade and other debtors	( 1,555,585)	894,431
Trade and other creditors	( 278,192)	( 27,797)
Provisions and employee benefits	91,000	( 475)
	------------	------------
Cash generated from operations	1,915,445	3,576,765

Interest paid	( 21,108)	( 438)
Interest received	131,011	80,064
Tax paid	( 284,448)	( 89,781)
	------------	------------
Net cash from operating activities	1,740,900	3,566,610
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 28,947)	( 67,033)
Proceeds from sale of tangible assets	11,999	–
Purchase of intangible assets	( 96,066)	( 40,983)
Proceeds from sale of intangible assets	28,982	1,379
	------------	------------
Net cash used in investing activities	( 84,032)	( 106,637)
	------------	------------

Cash flows from financing activities

Proceeds from issue of ordinary shares	9	–
Payments of finance lease liabilities	–	( 13,803)
Dividends paid	( 2,059,830)	( 641,992)
	------------	------------
Net cash used in financing activities	( 2,059,821)	( 655,795)
	------------	------------

Net (decrease)/increase in cash and cash equivalents	( 402,953)	2,804,178
Cash and cash equivalents at beginning of year	3,940,403	1,136,225
	------------	------------
Cash and cash equivalents at end of year	3,537,450	3,940,403
	------------	------------

Maple Sunscreening 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 Bramhall Technology Park, Units 11a-11d, Pepper Road, Hazel Grove, Stockport, Cheshire, SK7 5SA.

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 assets and liabilities and investment properties measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements are rounded to the nearest £1.

Judgements and key sources of estimation uncertainty

The following judgements and estimations have been made in the process of applying the company's accounting polices that have had the most significant effect on amounts recognised in the financial statements. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where it affects only that period or in both current and future periods. Construction Contracts and work in progress The directors assess the stage of completion of each long term contract based on the costs incurred to date compared with the total estimated costs of the contract. The directors undertake detailed reviews on a monthly basis in order to exercise judgement over the outcome of each contract. Useful economic lives of tangible fixed assets The annual deprecation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. These are assessed by the directors on an annual basis.

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 sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. In respect of long-term contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for ongoing services is recognised by reference to the stage of completion.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	Over its estimated life of 20 years
Patents, trademarks and licences	-	Over their estimated life of 4 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

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:

Plant and machinery	-	25% reducing balance and 10% of costs
Motor vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Sale of goods	20,778,709	24,755,481
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging/crediting:

	2024	2023
	£	£
Amortisation of intangible assets	146,089	135,229
Depreciation of tangible assets	66,586	64,969
Loss on disposal of tangible assets	10,732	–
Gains on disposal of intangible assets	( 19,567)	( 316)
Impairment of trade debtors	408,035	82,105
Operating lease rentals	228,091	151,232
Foreign exchange differences	( 43,408)	( 3,115)
	---------	---------

6. Auditor's remuneration

	2024	2023
	£	£
Fees payable for the audit of the financial statements	7,975	7,975
	-------	-------

7. 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	39	41
Administrative staff	19	19
Management staff	5	5
Number of sales & marketing staff	14	14
	----	----
	77	79
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	3,085,268	3,203,852
Social security costs	377,671	359,263
Other pension costs	100,601	98,541
	------------	------------
	3,563,540	3,661,656
	------------	------------

8. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2024	2023
	£	£
Remuneration	44,370	30,258
	--------	--------

9. Other interest receivable and similar income

	2024	2023
	£	£
Interest on bank deposits	130,967	80,064
Interest receivable	44	–
	---------	--------
	131,011	80,064
	---------	--------

10. Interest payable and similar expenses

	2024	2023
	£	£
Interest on obligations under finance leases and hire purchase contracts	–	3,369
Interest payable	3,219	( 423)
Other interest payable and similar charges	17,889	( 2,508)
	--------	-------
	21,108	438
	--------	-------

11. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	528,737	359,713
Adjustments in respect of prior periods	33,492	( 10,561)
	---------	---------
Total current tax	562,229	349,152
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 12,568)	( 3,399)
	---------	---------
Tax on profit	549,661	345,753
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower 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	2,866,399	2,816,416
	------------	------------
Profit on ordinary activities by rate of tax	716,600	661,857
Adjustment to tax charge in respect of prior periods	33,492	( 10,561)
Effect of expenses not deductible for tax purposes	80,357	28,352
Effect of capital allowances and depreciation	56,424	31,032
Deferred Tax	(12,568)	(3,399)
R&D Credits	(77,797)	(110,488)
Patent box claim	(246,847)	(251,040)
	------------	------------
Tax on profit	549,661	345,753
	------------	------------

12. Dividends

	2024	2023
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	2,209,830	641,992
	------------	---------

13. Intangible assets

	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 January 2024	650,000	561,176	1,211,176
Additions	–	96,066	96,066
Disposals	–	( 109,579)	( 109,579)
	---------	---------	------------
At 31 December 2024	650,000	547,663	1,197,663
	---------	---------	------------
Amortisation
At 1 January 2024	430,614	188,973	619,587
Charge for the year	32,500	113,589	146,089
Disposals	–	( 100,164)	( 100,164)
	---------	---------	------------
At 31 December 2024	463,114	202,398	665,512
	---------	---------	------------
Carrying amount
At 31 December 2024	186,886	345,265	532,151
	---------	---------	------------
At 31 December 2023	219,386	372,203	591,589
	---------	---------	------------

14. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024	790,355	34,560	824,915
Additions	2,089	26,858	28,947
Disposals	( 165,498)	( 12,000)	( 177,498)
	---------	--------	---------
At 31 December 2024	626,946	49,418	676,364
	---------	--------	---------
Depreciation
At 1 January 2024	574,375	12,970	587,345
Charge for the year	55,745	10,841	66,586
Disposals	( 154,767)	–	( 154,767)
Transfers	–	(9,153)	(9,153)
	---------	--------	---------
At 31 December 2024	475,353	14,658	490,011
	---------	--------	---------
Carrying amount
At 31 December 2024	151,593	34,760	186,353
	---------	--------	---------
At 31 December 2023	215,980	21,590	237,570
	---------	--------	---------

15. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	10,004
	--------
Impairment
At 1 January 2024 and 31 December 2024	–
	--------

Carrying amount
At 31 December 2024	10,004
	--------
At 31 December 2023	10,004
	--------

16. Stocks

	2024	2023
	£	£
Work in progress	240,461	1,003,676
	---------	------------

17. Debtors

	2024	2023
	£	£
Trade debtors	5,729,348	4,326,068
Amounts owed by group undertakings	2,561,438	2,481,123
Prepayments and accrued income	202,579	198,808
Other debtors	403,279	335,060
	------------	------------
	8,896,644	7,341,059
	------------	------------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors - desc in a/cs	170,000	170,000
	---------	---------

18. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,847,984	2,652,085
Accruals and deferred income	1,469,558	620,474
Corporation tax	626,541	348,760
Social security and other taxes	229,611	124,304
Dividends payable	150,000	–
Other creditors	93,046	577,704
	------------	------------
	4,416,740	4,323,327
	------------	------------

19. Provisions

	Warranties	Deferred tax (note 20)	Total
	£	£	£
At 1 January 2024	266,100	47,026	313,126
Additions	135,000	–	135,000
Charge against provision	( 44,000)	( 12,568)	( 56,568)
	---------	--------	---------
At 31 December 2024	357,100	34,458	391,558
	---------	--------	---------

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 19)	34,458	47,026
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	34,458	47,026
	--------	--------

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 100,601 (2023: £ 98,541 ).

22. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	202	202	202	202
Ordinary A shares of £ 1 each	1	1	–	–
Ordinary B shares of £ 1 each	1	1	–	–
Ordinary C shares of £ 1 each	1	1	–	–
Ordinary D shares of £ 1 each	1	1	–	–
Ordinary E shares of £1 each	1	1	–	–
Ordinary F shares of £1 each	1	1	–	–
Ordinary G shares of £1 each	1	1	–	–
Ordinary A1 shares of £1 each	1	1	–	–
Ordinary B1 shares of £1 each	1	1	–	–
	----	----	----	----
	211	211	202	202
	----	----	----	----

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	3,940,403	(402,953)	3,537,450
	------------	---------	------------

25. Operating leases

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

	2024	2023
	£	£
Not later than 1 year	94,636	77,819
Later than 1 year and not later than 5 years	108,305	131,778
	---------	---------
	202,941	209,597
	---------	---------

During the year the cost to the company on operating leases was £150,636.

26. Related party transactions

Included within debtors are amounts owed from connected parties of £2,561,438 (2023 £2,481,123). Included within creditors are amounts owed to connected parties of £nil, (2023 - £45,610). During the year the directors are key management personnel and had salaries as outlined in the notes above, there were also P11d benefits in kind for directors and connected parties totalling £15,402 (2023 - £10,200 ).

27. Controlling party

The company is controlled by Maple Sunscreening Holdings Limited , the immediate holding company, company no 09503531. The ultimate controlling party are the directors. Consolidated accounts can be found at Bramhall Technology Park, Units 11a-11b Pepper Road, Hazel Grove, Stockport SK7 5SA.