Registered number: 03899123
FOR THE YEAR ENDED 31 MAY 2025
REALLY USEFUL PRODUCTS LTD
COMPANY INFORMATION
REALLY USEFUL PRODUCTS LTD
CONTENTS
REALLY USEFUL PRODUCTS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2025
The directors present the strategic report and financial statements for the year ended 31 May 2025.
The principal activities of the company are the design, development, manufacture and distribution of innovative plastic storage and organisational products.
The company faces risks similar to other companies with similar products operating in similar markets. The principal risk of the company is price risk which is outlined below. The company also faces risks due to its operations in the world economy which it mitigates through internally hedging with sales income in non-UK currencies.
Financial risk management
In addition to the above, the company is exposed to a moderate level of foreign currency, price, credit, liquidity and cash flow, and interest rate risk.
Foreign currency risk
The company is exposed to foreign currency risk through its overseas trading, mostly with the US. Where necessary, the company mitigates this risk by internally hedging as the company purchases and sells goods in US Dollars.
Price risk
Price risk is managed by continually reviewing changes in the commercial environment and reacting accordingly. The company is exposed to price risk because of changing plastic prices which are dependent on oil prices. The company reviews current trends to manage its exposure to variation in market prices.
Credit risk
The company mainly trades with long standing customers of the company, the nature of these relationships assist management in controlling its credit risk in addition to the normal credit management processes.
Liquidity and cash flow risk
Management control and monitor the company's cash flow on a regular basis, including forecasting future cash flows. We are in regular contact with our bank to ensure our facilities match our needs.
Interest rate risk
The company incurs interest rate risk on its borrowings. We do have some fixed interest rate agreements with asset finance. The company also leases excess factory space to generate rental income, which contributes to its borrowing costs.
Financial risk management
In addition to the above, the company is exposed to a moderate level of foreign currency, price, credit, liquidity and cash flow, and interest rate risk.
Foreign currency risk
The company is exposed to foreign currency risk through its overseas trading, mostly with the US. Where necessary, the company mitigates this risk by internally hedging as the company purchases and sells goods in US Dollars.
Price risk
Price risk is managed by continually reviewing changes in the commercial environment and reacting accordingly. The company is exposed to price risk because of changing plastic prices which are dependent on oil prices. The company reviews current trends to manage its exposure to variation in market prices.
Credit risk
The company mainly trades with long standing customers of the company, the nature of these relationships assist management in controlling its credit risk in addition to the normal credit management processes.
Liquidity and cash flow risk
Management control and monitor the company's cash flow on a regular basis, including forecasting future cash flows. We are in regular contact with our bank to ensure our facilities match our needs.
Interest rate risk
The company incurs interest rate risk on its borrowings. We do have some fixed interest rate agreements with asset finance. The company also leases excess factory space to generate rental income, which contributes to its borrowing costs.
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REALLY USEFUL PRODUCTS LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
The key financial performance indicators of the company are turnover, gross profit, gross profit margin and profit before taxation.
Turnover increased by £2.8m compared to prior year. In the current economic climate, we view this as positive.
Profits before taxation has increased to £0.9m, reflecting our focus on improving efficiency.
The company's statement of financial position shows a satisfactory position with shareholds funds amounting to £17.6m, an increase of £0.7m on the prior year.
Stock decreased by £1.1m in the year, reflecting the reduction in raw materials.
Profits before taxation has increased to £0.9m, reflecting our focus on improving efficiency.
The company's statement of financial position shows a satisfactory position with shareholds funds amounting to £17.6m, an increase of £0.7m on the prior year.
Stock decreased by £1.1m in the year, reflecting the reduction in raw materials.
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REALLY USEFUL PRODUCTS LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
The directors have regard to the matters set out in section 172(1)(a) to (f) of the Companies Act 2006. Under this regulation, the directors have a duty to act in good faith and promote the long term success of the company.
The company is ultimately wholly owned by a director of the company, therefore the interest of the directors and shareholder are aligned with the success of the company.
During the year, the company made several key decisions which affected the business. In making these decisions the company has had to balance the needs and requirement of its key stakeholders. These include shareholders, employees, customers, suppliers and other stakeholders such as general public and the environment.
The company is ultimately wholly owned by a director of the company, therefore the interest of the directors and shareholder are aligned with the success of the company.
During the year, the company made several key decisions which affected the business. In making these decisions the company has had to balance the needs and requirement of its key stakeholders. These include shareholders, employees, customers, suppliers and other stakeholders such as general public and the environment.
∙The company remains in close contact with customers and suppliers.
∙Management considers the company's carbon footprint and constantly seeks to improve its performance. We have already invested significantly in cleaner machines and processes.
The interests of the above key stakeholders are not always totally compatible and may even be mutually exclusive at times. Therefore, the company has to constantly weigh up the needs and requirements of all key stakeholders and attempt to find the right balance where decisions may affect more than one shareholder. At all times, the company remains ethical in its dealings with key stakeholders and attempts to keep all key stakeholders informed of relevant business decisions.
In making long term decisions about the future of the company, at all times we have the requirements of our key stakeholders in mind. The board take our responsibility to ESG (Economic, Social and Corporate Governance) extremely seriously and the likely consequences of all out long-term decision making is part of our ongoing risk management process.
The culture of the business is one of support and inclusiveness with the aim of ensuring our business is sustainable in the long run. We aim to be an equal opportunities employer at all times and deal fairly and ethically with all stakeholders. Robust procedures are in place for conflict resolution.
In making long term decisions about the future of the company, at all times we have the requirements of our key stakeholders in mind. The board take our responsibility to ESG (Economic, Social and Corporate Governance) extremely seriously and the likely consequences of all out long-term decision making is part of our ongoing risk management process.
The culture of the business is one of support and inclusiveness with the aim of ensuring our business is sustainable in the long run. We aim to be an equal opportunities employer at all times and deal fairly and ethically with all stakeholders. Robust procedures are in place for conflict resolution.
Business relationships
We have established strong relationships with suppliers and customers which means we are able to respond to changing demands within the marketplace.
Employee engagement
The directors work closely with employees throughout the business. Site visits take place on a regular basis and the impact on employees is considered by management when making key decisions.
Future developments
The focus in the coming year will continue to be on consolidation and debt reduction as we look to repay debt which built up in order to fund increased capacity. We are moving from being a growth business to a mature one, with attention now being placed on optimisation. We feel our capacity is now at the appropriate level to meet customer demand.
This report was approved by the board and signed on its behalf.
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REALLY USEFUL PRODUCTS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2025
The directors present their report and the financial statements for the year ended 31 May 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the 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 Company'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 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £709,173 (2024 - £37,585).
Dividends declared and paid in the year amounted to £Nil (2024 - £Nil).
The directors who served during the year were:
Research and development is in relation to the continued development and improvement of product ranges.
The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.
Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.
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REALLY USEFUL PRODUCTS LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
The company is exempt from carbon reporting obligations as they are covered by their parent company, Shaman Investment Limited's, group directors report.
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's Strategic Report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the Directors' Report. It has done so in respect of principcal activities, future development and principal risks and uncertainties.
Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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REALLY USEFUL PRODUCTS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REALLY USEFUL PRODUCTS LTD
We have audited the financial statements of Really Useful Products Ltd (the 'Company') for the year ended 31 May 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the 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 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.
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.
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REALLY USEFUL PRODUCTS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REALLY USEFUL PRODUCTS LTD (CONTINUED)
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.
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REALLY USEFUL PRODUCTS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REALLY USEFUL PRODUCTS LTD (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 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:
∙We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, health and safety legistlation and tax legislation.
∙We enquired of the directors and reviewed correspondence with HMRC for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.
∙We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period.
∙The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition, management override of controls and stock valuation.
∙We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.
∙We enquired of the directors about actual and potential litigation and claims.
∙We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.
∙In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.
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.
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REALLY USEFUL PRODUCTS LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REALLY USEFUL PRODUCTS LTD (CONTINUED)
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.
for and on behalf of
Chartered Accountants & Statutory Auditors
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REALLY USEFUL PRODUCTS LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
REGISTERED NUMBER: 03899123
STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 29 form part of these financial statements.
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REALLY USEFUL PRODUCTS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
Really Useful Products Ltd (the 'Company') is a private company limited by shares, registered and incorporated in England and Wales. The registered office and its principal place of business is Whistler Drive, Castleford, West Yorkshire, WF10 5HX.
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 management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
At 31 May 2025 the company had net current assets of £4,499,064 (2024 - £2,622,255).
The directors have prepared trading forecasts extending for a period of 12 months from the date these financial statements were approved. The forecasts suggest continued operating profitability and sufficient cash ability to allow the company to meet is liabilities as they fall due.
The forecasts indicate that the company will continue to meet its financial covenants over the forecast period.
The directors therefore believe that it is appropriate to prepare the financial statements on a going concern basis.
The directors have prepared trading forecasts extending for a period of 12 months from the date these financial statements were approved. The forecasts suggest continued operating profitability and sufficient cash ability to allow the company to meet is liabilities as they fall due.
The forecasts indicate that the company will continue to meet its financial covenants over the forecast period.
The directors therefore believe that it is appropriate to prepare the financial statements on a going concern basis.
Functional and presentation currency
Transactions and balances
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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 the straight-line method.
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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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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 Company 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 Company's Statement of financial position when the Company 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.
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
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.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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.
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.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
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.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
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.
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The directors have concluded that there are no judgements which have a material impact on the financial statements.
Analysis of turnover by country of destination:
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
A bonus issue of 2,000,000 ordinary shares took place on 1 April 2025. The nominal value of each share was £1, no consideration was paid.
Profit and loss account
The Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held seperately from those of the Company in an independently administered fund. During the year, pension contributions totalling £166,856 (2024 - £140,532) were charged through the profit and loss. At the balance sheet date £34,584 (2024 - £30,173 ) was payable to the fund and are included within other creditors.
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REALLY USEFUL PRODUCTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
The Company is controlled by its parent company Shaman Investments Limited which is the smallest and largest group for which consolidated accounts including the company are prepared. The financial statements of Shaman Investments Limited can be obtained from Companies House.
The Company is ultimately controlled byMr Michael Pickles who, during the year owned 100% of the called up share capital of the parent company, Shaman Investments Limited.
The Company is ultimately controlled by
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