1.
General Information
Connect Plumbing & Heating Supplies Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
06025052
. The registered office is Courtauld House, Courtauld Road, Basildon, Essex, SS13 1RZ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2.
Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 March 2025.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3.
Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.4.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.
Goodwill arising on the acquisition of subsidiaries is included in Intangible Assets. Goodwill arising on the acquisition of associates and joint ventures is included in the related equity accounted investment value.
Goodwill is amortised over its expected useful life which is estimated to be 10 years.
Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
|
| Plant & Machinery |
|
2.7.
Leasing and Hire Purchase Contracts
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.
Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy fortangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2.8.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.9.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.10.
Financial Instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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 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 Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans 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.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.11.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.12.
Provisions and Contingencies
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Contingencies
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.
Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of
economic benefits is probable.
2.13.
Pensions
The group operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.14.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.15.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
3.
Turnover
Analysis of turnover by class of business is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Fees | 252,758 | - | |
| Sale of goods | 16,181,649 | - | |
| 16,434,407 | - | ||
4.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income |
|
|
|
| 9,056 | 3,477 | ||
5.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | 15,420 | 30,103 | |
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
6.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the group and company's financial statements |
|
|
|
| Other Services | |||
| Other non-audit services |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Wages and salaries |
|
|
|
|
|||
| Social security costs |
|
|
|
|
|||
| Other pension costs |
|
|
|
|
|||
|
|
|
|
|
||||
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
8.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| Office and administration |
|
|
|
|
|||
| Sales, marketing and distribution |
|
|
|
|
|||
|
|
|
|
|
||||
9.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
Information regarding the highest paid director was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
10.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| Other interest receivable | 6,767 | - | |
| 27,258 | 4,769 | ||
11.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
12.
Tax on Profit
|
The tax charge on the profit for the year was as follows:
|
|||||
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Prior period adjustment |
|
( |
|||
|
|
|
||||
| Deferred Tax | |||||
| Deferred taxation |
( |
( |
|||
| Total tax charge for the period |
|
|
|||
...CONTINUED
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
|
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 576,089 | 890,580 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Capital allowances |
|
( |
|||
| Prior period adjustment |
|
( |
|||
| Total tax charge for the period | 167,411 | 217,251 | |||
13.
Intangible Assets
Group
Company
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 April 2024 |
|
||
| Additions |
|
||
| As at 31 March 2025 |
|
||
| Amortisation | |||
| As at 1 April 2024 |
|
||
| Provided during the period |
|
||
| As at 31 March 2025 |
|
||
| Net Book Value | |||
| As at 31 March 2025 |
|
||
| As at 1 April 2024 |
|
||
The company had no intangible fixed assets as at 31 March 2025 or 31 March 2024.
14.
Tangible Assets
Group
Company
| Land & Property | |||
|---|---|---|---|
| Leasehold | Plant & Machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2024 |
|
|
|
| Additions |
|
|
|
| Disposals |
|
( |
( |
| As at 31 March 2025 |
|
|
|
...CONTINUED
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Depreciation | |||
| As at 1 April 2024 |
|
|
|
| Provided during the period |
|
|
|
| Disposals |
|
( |
( |
| As at 31 March 2025 |
|
|
|
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
| Land & Property | |||
|---|---|---|---|
| Leasehold | Plant & Machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2024 |
|
|
|
| Additions |
|
|
|
| As at 31 March 2025 |
|
|
|
| Depreciation | |||
| As at 1 April 2024 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2025 |
|
|
|
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
15.
Investments
Group
Company
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2024 |
|
| Disposals |
( |
| As at 31 March 2025 |
|
| Provision | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
| Net Book Value | |
| As at 31 March 2025 |
|
| As at 1 April 2024 |
|
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Subsidiaries | Unlisted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2024 |
|
|
|
| Additions |
|
|
|
| Disposals |
|
( |
( |
| As at 31 March 2025 |
|
|
|
| Provision | |||
| As at 1 April 2024 |
|
|
- |
| As at 31 March 2025 |
|
|
- |
| Net Book Value | |||
| As at 31 March 2025 |
|
|
|
| As at 1 April 2024 |
|
|
|
Subsidiaries
Details of the group's subsidiaries as at 31 March 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
5 Margaret Road, Romford, England, RM2 5SH |
|
|
- |
|
|
5 Margaret Road, Romford, England, RM2 5SH |
|
|
70.00% |
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
| Capital and Reserves | Profit/(loss) | |
|---|---|---|
| £ | £ | |
| Train The Trade Ltd |
( |
( |
| No More Water Leaks Ltd |
( |
( |
In August 2024, the Group incorporated a new subsidiary as part of its strategic expansion plan. This subsidiary was established to facilitate the acquisition of No More Water Leaks Limited, which was completed in late September 2024 for a cash consideration of £62,670 in exchange for 100% of its share capital.
Analysis of the acquisition of Train The Trade Ltd and its subsidiary
|
Total
|
||
|
£
|
||
|
Goodwill
|
62,570
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|
|
|
62,570
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|
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
|
£
|
||
|
Satisfied by
|
||
|
Share capital for Train The Trade
|
(100)
|
|
|
Consideration paid for 70% holding
|
62,670
|
|
|
62,570
|
Train The Trade Ltd and its subsidiary made a loss before tax for the period ended 31 March 2025 of £113,617 of which £51,977 arose in the period of 1 July 2024 to 30 September 2024.
The summarised profit and loss account for the period from 1 July 2024 to the date of acquisition is as follows
|
£
|
||
|
Turnover
|
65,327
|
|
|
Cost of sales
|
(18,804)
|
|
|
Administrative expenses
|
(99,306)
|
|
|
Other operating income
|
1,000
|
|
|
Interest payable and similar charges
|
(194)
|
|
|
(51,977)
|
||
|
|
Under section 479C of the Companies Act 2006,
Connect Plumbing & Heating Supplies Ltd
, registration number
06025052
, being the parent undertaking has guaranteed the liabilities of the following subsidiaries in order that they qualify for the exemption from audit under section 479A of the Companies Act 2006 in respect of the year ended 31 March 2025:
| Name of undertaking | Registered Number |
|---|---|
|
|
15886574 |
|
|
11730876 |
16.
Stocks
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Finished goods |
|
|
|
|
|||
17.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Amounts owed by group undertakings | - | - | 248,878 | - | |||
| Other debtors | 213,470 | 140,710 | 211,809 | 140,710 | |||
|
|
|
|
|
||||
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
18.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Trade creditors |
|
|
|
|
|||
| Bank loans and overdrafts |
|
|
|
|
|||
| Amounts owed to participating interests |
|
|
|
|
|||
| Other creditors | 367,568 | 382,887 | 460,633 | 382,887 | |||
| Corporation tax |
|
|
|
|
|||
| Taxation and social security | 85,469 | 13,706 | 83,313 | 13,706 | |||
| Accruals and deferred income | 231,216 | 242,174 | 233,916 | 242,174 | |||
|
|
|
|
|
||||
19.
Loans
An analysis of the maturity of loans is given below:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Amounts falling due within one year or on demand: | |||||||
| Bank loans |
|
|
|
|
|||
20.
Provisions for Liabilities
| Group | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 April 2024 |
|
64,255 |
| Utilised |
( |
(7,695) |
| Balance at 31 March 2025 |
|
56,560 |
Tax rate at 25% (2024-25%) was applied to deferred tax calculation.
| Company | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 April 2024 |
|
64,255 |
| Utilised |
( |
(7,695) |
| Balance at 31 March 2025 |
|
56,560 |
Tax rate at 25% (2024-25%) was applied to deferred tax calculation.
Connect Plumbing & Heating Supplies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
22.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Not later than one year |
|
|
|
|
|||
| Later than one year and not later than five years |
|
|
|
|
|||
| Later than five years |
|
|
|
|
|||
|
|
|
|
|
||||
23.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to the income statement in respect of defined contribution schemes was £71,130 (2024: £97,415).
At the statement of financial position date contributions of £6,420 (2024: £6,420) were due to the fund and are included in creditors.
24.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
|
|
|
25.
Related Party Disclosures
Transactions with the related parties are as follows:
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Purchases from Group Companies
|
1,232,765
|
2,024,224
|
|
|
Sales to Group Companies
|
51,752
|
46,643
|
|
|
Amounts due to Group Companies
|
75,391
|
301,334
|
|
|
Amounts due from Group Companies
|
248,878
|
-
|
|
|
Amounts due to director
|
90,000
|
80,000
|
26.
Controlling Parties
The company's immediate parent undertaking is
PGR Enterprises Ltd
.
The ultimate parent undertaking is
PGR Enterprises Ltd
(incorporated in England & Wales). Its registered office is
Courtauld House, Courtauld Road, Basildon, Essex, England, SS13 1RZ
.
Copies of the group accounts may be obtained from the company's registered office.