Company No:
Contents
| DIRECTORS | Mr A M Thomas |
| Mr J C Thomas | |
| Mr M P Thomas |
| SECRETARY | Mr M P Thomas |
| REGISTERED OFFICE | C/O Bishop Fleming Llp |
| 10 Temple Back | |
| Bristol | |
| BS1 6FL | |
| United Kingdom |
| BUSINESS ADDRESS | Thomas Way |
| Glastonbury | |
| Somerset | |
| BA6 9LU |
| COMPANY NUMBER | 04468731 (England and Wales) |
| AUDITOR | Bishop Fleming Audit Limited |
| Statutory Auditor | |
| 10 Temple Back | |
| Bristol | |
| BS1 6FL | |
| United Kingdom |
The directors present their Strategic Report for the financial year ended 31 March 2025.
REVIEW OF THE BUSINESS
We consider that the key financial performance indicators are turnover, profit after tax, net current assets and net assets. Together these demonstrate the financial performance and strength of the company.
Turnover for the financial year amounted to £21,092,511 (2024: £20,139,042). The Company earned a profit after taxation totalling £1,370,009 (2023: £1,288,076).
The net current asset position of the Company as at the financial year end amounted to £7,852,013 (2023: net current asset £6,747,152). The net asset position of the Company as at the financial year end amounted to £15,085,093 (2023: net asset £14,531,834).
The directors are satisfied with the financial performance and position of the company.
PRINCIPAL RISKS AND UNCERTAINTIES
As for most companies in the country, the business environment in which we operate continues to be challenging. The scrap market is increasingly competitive and the volatility of the prices makes long-term prediction of performance difficult. In addition, the continuing impact of Brexit upon the company's operations still remains uncertain and may take years to become clear.
FINANCIAL KEY PERFORMANCE INDICATORS
The company's key performance indicators are turnover, profit after tax, net current assets and net assets.
No other KPI analysis is considered necessary for an understanding of the development, performance and position of the company.
Approved by the Board of Directors and signed on its behalf by:
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Mr J C Thomas
Director |
The directors present their annual report on the affairs of the Company, together with the financial statements and auditors’ report, for the financial year ended 31 March 2025.
GOING CONCERN
REVIEW OF THE BUSINESS
Turnover for the financial year amounted to £21,092,511 (2024: £20,139,042). The Company earned a profit after taxation totalling £1,370,009 (2024: £1,288,076).
The net current asset position of the Company as at the financial year end amounted to £7,852,013 (2024: net current asset £6,747,152).
The net asset position of the Company as at the financial year end amounted to £15,085,093 (2024: net asset £14,531,834).
DIVIDENDS
The directors paid a dividend of £816,750 in the current financial year (2024: £783,000).
FUTURE DEVELOPMENTS
The company continues to maintain and upgrade their plant to provide efficiencies in operations. In addition the directors are constantly looking for suitable opportunities to diversify and remain open to further investment opportunities.
DIRECTORS
The directors, who served during the financial year and to the date of this report except as noted, were as follows:
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AUDITOR
Each of the persons who is a director at the date of approval of this report confirms that:
* So far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
* The director has taken all the steps that they ought to have taken as a director in order to make himself/herself aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
Bishop Fleming Audit Limited have expressed their willingness to continue in office as auditor and appropriate arrangements have been put in place for them to be deemed reappointed as auditors in the absence of an Annual General Meeting.
Approved by the Board of Directors and signed on its behalf by:
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Mr J C Thomas
Director |
The directors are responsible for preparing the 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), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. 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 financial 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;
* State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
* 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. The directors 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.
Report on the audit of the financial statements
We have audited the financial statements of J C Thomas & Sons Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of income and retained earning, the Statement of financial position, the 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
* give a true and fair view of the state of the Company's affairs as at 31 March 2025 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 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.
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.
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.
Report on other legal and regulatory requirements
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
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.
As explained more fully in the Directors' responsibilities statement set out on page 6 , 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 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 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:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:
* the nature of the industry and sector, control environment and business performance;
* results of our enquiries of management and the board about their own identification and assessment of the risks of irregularities;
* any matters we identified having obtained and reviewed the company’s documentation of their policies and procedures relating to:
* identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
* detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
* the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
* and the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, which included incorrect recognition of revenue and management override of controls using manual journal entries, and these were identified as the greatest potential area for fraud.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These included compliance with Health and Safety regulations; Company law; and tax and employment legislation.
Our procedures to respond to risks identified included the following:
* reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
* reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
* enquiring of management and those charged with governance concerning actual and potential litigation and claims;
* performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
* reading minutes of meetings of those charged with governance; and
* in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; and assessing whether the judgements made in making accounting estimates are indicative of a potential bias.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the Company's directors, 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 directors 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 directors, as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Statutory Auditor
Bristol
BS1 6FL
United Kingdom
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Turnover | 2 |
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| Cost of sales | (
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| Gross profit |
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| Administrative expenses | (
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| Operating profit |
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| Interest receivable and similar income |
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| Profit before taxation | 3 |
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| Tax on profit | 7 | (
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| Profit for the financial year |
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| Retained earnings at the beginning of financial year |
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| Profit for the financial year |
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| Dividends declared and paid | 8 | (
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| Retained earnings at the end of financial year |
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There were no items of other comprehensive income or losses for the current or prior year other than those included in the Statement of Income and Retained Earnings, accordingly no Statement of Comprehensive Income is presented.
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 9 |
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| Tangible assets | 10 |
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| Investment property | 11 |
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| 8,012,038 | 8,696,027 | |||
| Current assets | ||||
| Stocks | 12 |
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| Debtors | 13 |
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| Investments | 14 |
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| Cash at bank and in hand | 15 |
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| 9,348,517 | 9,577,954 | |||
| Creditors: amounts falling due within one year | 16 | (
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| Net current assets | 7,852,013 | 6,747,152 | ||
| Total assets less current liabilities | 15,864,051 | 15,443,179 | ||
| Provision for liabilities | 17 | (
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| Net assets | 15,085,093 | 14,531,834 | ||
| Capital and reserves | 18 | |||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds | 15,085,093 | 14,531,834 |
The financial statements of J C Thomas & Sons Limited (registered number:
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Mr J C Thomas
Director |
| 2025 | 2024 | ||
| £ | £ | ||
| Net cash flows from operating activities (note 20) | (
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| Cash flows from investing activities | |||
| Proceeds from sale of plant and machinery |
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| Purchase of plant and machinery | (
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| Interest received |
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| Purchase of short-term investments | (4,000,000) | 0 | |
| Net cash flows from investing activities | (
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| Cash flows from financing activities | |||
| Dividends paid (note 9) | (816,750) | (783,000) | |
| Net cash flows from financing activities | (
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| Net (decrease)/increase in cash and cash equivalents | (
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| Cash and cash equivalents at beginning of year |
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| Cash and cash equivalents at end of year |
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| Reconciliation to cash at bank and in hand: | |||
| Cash at bank and in hand at end of year |
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| Cash and cash equivalents at end of year |
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Cash and cash equivalents include £4,000,000 (2024: £Nil) of cash on term-deposits that have been included within current asset investments with the accounts.
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
J C Thomas & Sons Limited (registered number 04468731) is a company, limited by shares, incorporated and registered in England within the United Kingdom. The address of the registered office is C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL and the registered number is 04468731.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with the Companies Act 2006 and Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council.
The functional currency of J C Thomas & Sons Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are help separately from the Company in independently administered funds.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the Statement of Financial Position date. Timing differences are differences between the Company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
When the amount that can be deducted for tax for an asset that is recognised in a business combination is less (more) than the value at which it is recognised, a deferred tax liability (asset) is recognised for the additional tax that will be paid (avoided) in respect of that difference. Similarly, a deferred tax asset (liability) is recognised for the additional tax that will be avoided (paid) because of a difference between the value at which a liability is recognised and the amount that will be assessed for tax.
Deferred tax liabilities are recognised for timing differences arising from investments in subsidiaries and associates, except where the Company is able to control the reversal of the timing difference and it is probable that it will not reverse in the foreseeable future.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date that are expected to apply to the reversal of the timing difference. Deferred tax relating to property, plant and equipment is measured using the revaluation model and investment property is measured using the tax rates and allowances that apply to the sale of the asset.
Where items recognised in the Statement of Comprehensive Income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.
Current tax assets and liabilities are offset only when there is a legally enforceable right to set off the amounts and the Company intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. Deferred tax assets and liabilities are offset only if: a) the Company has a legally enforceable right to set off current tax assets against current tax liabilities; and b) the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on the Company and the Company intends either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
| Goodwill |
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| Land and buildings |
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| Leasehold improvements |
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| Plant and machinery |
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| Vehicles |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.
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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Turnover represents the fair value of goods/services provided to customers during the financial year excluding value added tax.
Breakdown by business class
An analysis of the Company's turnover by class of business is set out below.
| 2025 | 2024 | ||
| £ | £ | ||
| Sale of scrap | 20,834,463 | 19,901,660 | |
| Rental of storage containers | 158,939 | 158,044 | |
| Other income | 63,609 | 45,063 | |
| Rent received | 35,500 | 34,275 | |
| 21,092,511 | 20,139,042 |
Breakdown by geographical market:
An analysis of the Company's turnover by geographical market is set out below.
| 2025 | 2024 | ||
| £ | £ | ||
| United Kingdom | 21,092,511 | 20,139,042 |
Profit before taxation is stated after charging/(crediting):
| 2025 | 2024 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets (note 10) |
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| Amortisation of intangible assets (note 9) |
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An analysis of the auditor's remuneration is as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Fees payable to the Company’s auditor and its associates for the audit of the Company's annual financial statements: | 18,900 | 17,850 | |
| Total audit fees |
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| 2025 | 2024 | ||
| Number | Number | ||
| The average monthly number of employees (including directors) was: | |||
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Their aggregate remuneration comprised:
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| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other retirement benefit costs |
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| 1,084,441 | 957,928 |
| 2025 | 2024 | ||
| £ | £ | ||
| Directors' emoluments |
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| 2025 | 2024 | ||
| £ | £ | ||
| Current tax on profit | |||
| UK corporation tax |
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| Adjustments in respect of prior years | |||
| UK corporation tax |
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| Total current tax |
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| Deferred tax | |||
| Origination and reversal of timing differences | (
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| Changes to tax rates | 0 | 0 | |
| Adjustments in respect of prior periods | (5,795) | 0 | |
| Total deferred tax | (
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| Total tax on profit |
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The tax assessed for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK:
| 2025 | 2024 | ||
| £ | £ | ||
| Profit before taxation | 1,888,739 | 1,780,163 | |
| Tax on profit at standard UK corporation tax rate of 25% (2024: 25%) |
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| Effects of: | |||
| Expenses not deductible for tax purposes |
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| Other timing differences leading to an increase (decrease) in taxation | 1,927 | 0 | |
| Remeasurement of deferred tax for changes in tax rates | (5,795) | 0 | |
| Depreciation on assets ineligible for capital allowances | 44,727 | 46,030 | |
| Other timing differences | 0 | 0 | |
| Total tax charge for year | 514,593 | 492,087 |
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts recognised as distributions to equity holders in the financial year: | |||
| Dividends Paid | 816,750 | 783,000 | |
| Goodwill | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 April 2024 |
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| At 31 March 2025 |
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| Accumulated amortisation | |||
| At 01 April 2024 |
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| Charge for the financial year |
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| At 31 March 2025 |
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| Net book value | |||
| At 31 March 2025 |
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| At 31 March 2024 |
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| Land and buildings |
Leasehold improve- ments |
Plant and machinery | Vehicles | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 April 2024 |
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| Additions |
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| Disposals |
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| At 31 March 2025 |
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| Accumulated depreciation | |||||||||
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| Disposals |
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| Net book value | |||||||||
| At 31 March 2025 | 3,054,625 | 0 | 3,600,278 | 116,454 | 6,771,357 | ||||
| At 31 March 2024 | 3,056,778 | 0 | 4,044,042 | 175,617 | 7,276,437 |
| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2024 |
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| As at 31 March 2025 |
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The 2025 valuations were made by directors, on an open market value for existing use basis.
| 2025 | 2024 | ||
| £ | £ | ||
| Stocks |
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| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| Prepayments and accrued income |
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| 2025 | 2024 | ||
| £ | £ | ||
| Short Term Deposits |
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| £ | £ | ||
| Cash at bank and in hand |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxation and social security |
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| Accruals |
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| Other creditors |
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| Deferred taxation | Total | ||
| £ | £ | ||
| At 01 April 2024 |
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911,345 | |
| Credited to the Statement of Income and Retained Earnings | (
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( 132,387) | |
| At 31 March 2025 |
|
778,958 | |
Deferred tax
| 2025 | 2024 | ||
| £ | £ | ||
| Accelerated capital allowances |
|
|
|
| Other timing differences | (
|
(
|
|
| Provision for deferred tax |
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
|
| Presented as follows: | |||
| Called-up share capital presented as equity | 3 | 3 |
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| within one year |
|
|
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
| 2025 | 2024 | ||
| £ | £ | ||
| Unpaid contributions due to the fund (inc. in other creditors) |
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Operating profit |
|
|
|
| Adjustment for: | |||
| Depreciation and amortisation |
|
|
|
| Profit on sale of plant and equipment | (
|
(
|
|
| Decrease in provisions | (
|
|
|
| Operating cash flows before movement in working capital |
|
|
|
| (Increase)/decrease in stocks | (
|
|
|
| Increase in debtors | (
|
(
|
|
| Decrease in creditors | (
|
(
|
|
| Cash generated by operations |
|
|
|
| Income taxes paid | (
|
(
|
|
| Net cash flows from operating activities | (
|
|
During the year dividends were paid to the directors (See note 8).
At the year end, the company was owed by a company under common control £1,233,537 (2024:Owing £1,500,000). The balance is included within other debtors (2024: Other Creditors), is unsecured and has no fixed date for repayment.