Registered number: 08332330
FOR THE YEAR ENDED 31 DECEMBER 2024
COMPANY INFORMATION
CONTENTS
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their strategic report of the company and the group for the year ended 31 December 2024.
Perry of Oakley Holdings Limited (the “Group”) is the UK’s most experienced manufacturer of material handling, drying, and storage equipment, established in 1947. Our machinery is in operation in more than 25 countries across four continents, serving agriculture and a wide range of industrial sectors.
Industries we serve include:
Industries we serve include:
∙Agriculture (farms and commercial grain stores)
∙Feed mills and flour mills
∙Flaking mills
∙Waste and recycling (SRF/RDF)
∙Pelleting plants
∙Aggregates
∙Biomass (woodchip, shavings, sawdust)
Our product portfolio spans continuous mixed flow dryers, grain dryers, belt dryers, chain and flight conveyors, belt conveyors, belt and bucket elevators, screw conveyors and augers, aspirator pre-cleaners, twin trace conveyors, grain samplers, and bins/silos.
We also deliver comprehensive services, from plant layout and design through to subcontract fabrication, installation and commissioning, and a robust after-sales service.
We also deliver comprehensive services, from plant layout and design through to subcontract fabrication, installation and commissioning, and a robust after-sales service.
The principal activity of the Company is the management of the fixed assets of the Perry of Oakley group of companies.
The principal activity of the Group is the design and manufacture of bulk material, drying, handling, and storage equipment.
The principal activity of the Group is the design and manufacture of bulk material, drying, handling, and storage equipment.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors consider, assess, and identify the risks that the Group is subject to, and seek to implement operating procedures and financial controls to mitigate those risks. Where necessary, the directors seek advice from relevant professional advisors.
The key risks and uncertainties faced by the Group include:
The key risks and uncertainties faced by the Group include:
∙Steel supply and pricing – Steel is a critical raw material in our manufacturing process. Price increases or shortages can significantly impact profitability. The Group closely monitors steel availability, pricing trends, and forward orders, planning purchases in advance to mitigate volatility.
∙Agricultural cycles – Demand for equipment is influenced by harvest yields and commodity prices, which in turn affect customer investment decisions.
∙Export exposure – Overseas sales expose the Group to risks including currency fluctuations, regulatory barriers, and logistical challenges.
∙Shipping availability and costs – With a proportion of sales exported overseas, the cost and reliability of shipping represent material risks. The directors continually monitor shipping markets and plan logistics in advance to prevent unnecessary delays and to secure cost-effective solutions.
∙Competition – The industry is highly price-sensitive. The Group differentiates itself through its long-standing reputation, engineering quality, and comprehensive after-sales service.
∙Regulation and compliance – Health, safety, and environmental standards continue to evolve, and the Group maintains robust systems to ensure compliance.
The Group recognises that its people are central to its success. We continue to invest in technical training, and professional development to ensure a pipeline of skilled employees. We maintain regular communication with staff, encourage feedback, and foster a safe and supportive working environment.
Research and development remain at the heart of our strategy. Current focus areas include:
∙Development of energy-efficient dryers to lower fuel use and emissions.
∙Integration of automation and digital monitoring to improve plant performance.
∙Adaptation of equipment to support growth markets in renewable energy and recycling.
Investment in R&D ensures Perry remains at the forefront of material handling and drying technology.
The directors have assessed the Group’s resources, forecast cash flows, and financing facilities. With positive cash reserves, modest borrowings, and a strong order pipeline, the Board is satisfied that the Group has adequate resources to continue in operational existence for the foreseeable future. The financial statements are therefore prepared on a going concern basis.
Despite challenging market conditions, the Group remained profitable, generated strong cash inflows, and strengthened its financial position. With market-leading UK expertise, an expanding global presence, and a commitment to innovation, the Group is well positioned for sustainable growth in both domestic and international markets.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board on 26 September 2025 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £202,171 (2023 - £336,459).
Group turnover for 2024 was £8.59m, being £1.88m less than 2023. Group turnover for 2023 had been £3.15m higher than 2022 due to exceptional export sales, such that 2024 represents a return to underlying growth. Gross profit was £3.33m (2023: £4.14m), with gross margin steady at 38.8%. Operating profit was £0.15m (2023: £0.54m).
Profit after tax was £0.2m (2023: £0.34m). Despite reduced profitability, the Group achieved operating cash inflows of £0.68m (2023: outflow of £0.07m), strengthening year-end cash reserves to £0.99m (2023: £0.50m).
The Board does not recommend the payment of a dividend for the year (2023: £nil), with profits retained to support investment and working capital.
Profit after tax was £0.2m (2023: £0.34m). Despite reduced profitability, the Group achieved operating cash inflows of £0.68m (2023: outflow of £0.07m), strengthening year-end cash reserves to £0.99m (2023: £0.50m).
The Board does not recommend the payment of a dividend for the year (2023: £nil), with profits retained to support investment and working capital.
The directors who served during the year were:
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Group is well positioned to take advantage of both domestic and international opportunities. Key areas of development include:
1. Product Innovation and Sustainability
1. Product Innovation and Sustainability
∙Investment continues in the development of energy-efficient grain dryers, designed to reduce fuel consumption and carbon emissions, aligning with sustainability targets across agriculture and biomass industries.
∙Expansion of belt dryer and moisture sensor systems to support waste-to-energy and recycling customers, addressing the growing demand for renewable and sustainable energy solutions.
∙Enhanced automation and digital monitoring will improve efficiency and reduce downtime for customers.
2.Customer-Centric Solutions
∙Strengthening our plant layout and design services, offering turnkey solutions that combine handling, drying, and storage into integrated packages.
∙Expanding our after-sales capability with preventative maintenance contracts, ensuring equipment reliability and customer retention.
3.Operational Efficiency
∙Continued application of lean manufacturing practices to drive down production costs, enhance margins, and mitigate the impact of raw material price volatility.
∙Broader supplier relationships and increased stockholding of critical parts to reduce lead times and insulate the business from supply chain disruption.
4.Sector Diversification
∙Leveraging existing capabilities to broaden our presence in adjacent industries such as pelleting, aggregates, and biomass.
∙Developing equipment adaptations to serve high-growth markets such as renewable energy and recycling.
5.Export Expansion
∙Building on our footprint in more than 25 countries, we will target emerging markets, where modernisation of grain handling infrastructure is accelerating.
∙Modular conveyor and dryer systems are being developed for ease of shipping and rapid installation in overseas environments.
There have been no significant events affecting the Group since the year end.
Page 5
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditors, Griffin, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 26 September 2025 and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PERRY OF OAKLEY (HOLDINGS) LIMITED
We have audited the financial statements of Perry of Oakley (Holdings) Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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 Group's or the parent 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PERRY OF OAKLEY (HOLDINGS) LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PERRY OF OAKLEY (HOLDINGS) LIMITED (CONTINUED)
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 Auditors' 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 Group 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:
Our audit procedures have reviewed for evidence of management override, any ongoing legal cases, completeness of related party transactions as well as an ongoing consideration of fraud and irregularities during the whole audit process.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' 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 Auditors' 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PERRY OF OAKLEY (HOLDINGS) LIMITED (CONTINUED)
for and on behalf of
Chartered Accountants
Courtenay House
Pynes Hill
EX2 5AZ
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 11
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024
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CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025 .
The notes on pages 23 to 44 form part of these financial statements.
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COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
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COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025 .
The notes on pages 23 to 44 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
Page 17
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 18
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
Page 19
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Perry of Oakley Holdings Limited is a private limited liability company incorporated in England & Wales. The registered office is Dunkeswell Airfield, Dunkeswell, Honiton, Devon, England, EX14 4LF.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.
Audit exemption for subsidiaries
For the year ended 31 December 2024, the following subsidiaries of the Group were entitled to exemption from audit of their individual accounts under Section 479A of the Companies Act 2006 relating to subsidiary companies.
Subsidiary name Registration number
Dunkeswell Trading Ltd 12021425
For the year ended 31 December 2024, the following subsidiaries of the Group were entitled to exemption from audit of their individual accounts under Section 479A of the Companies Act 2006 relating to subsidiary companies.
Subsidiary name Registration number
Dunkeswell Trading Ltd 12021425
The directors have considered the financial position of the group and note that it is in a net asset position of £3,187,051 with cash of of £994,104. The directors have considered cash flow forecasts for future financial years and on this basis have concluded that the group is a going concern. The accounts have therefore been prepared on this basis.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance methods.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Critical accounting estimates and assumptions:
The cost of manufactured stock is uplifted to take into account actual inefficiencies in labour time compared to the standard costing system used. This is estimated by the directors based upon prior knowledge and experience within the industry.
Old and slow moving stock is provided for based upon the last time it was used or sold. The timeframe for this is estimated by the directors based upon prior knowledge and experience within the industry.
Bad debts are provided for on the basis that they are deemed irrecoverable to the company. This assessment is carried out by management based upon prior knowledge and experience within the industry.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The turnover and profit before taxation are attributable to the one principal activity of the group.
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 32
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £59,750 (2023 - £15,842 ).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14.Tangible fixed assets (continued)
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Page 36
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Page 37
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Subsidiary undertakings (continued)
Page 38
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 39
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The bank loan is payable in 60 installments and is due to be repaid by May 2027. The loan has an interest rate of 2.36% over the base rate. There is an unlimited debenture incorporating a fixed and floating charge over the assets of the group by way of a cross guarantee.
Page 40
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 41
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Page 42
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There is a cross guarantee and set off arrangement in favour of Lloyds bank in respect of borrowings for the group. The total amounts outstanding with the bank at the year end is £290,000 (2023: £410,000).
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £45,587 (2023 - £50,640). Contributions totalling £8,416 (2023 - £9,103) were payable to the fund at the balance sheet date and are included in creditors.
Page 43
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The ultimate controlling party is David Perry.
Page 44