REGISTERED NUMBER: 00006028 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

CRAVEN DUNNILL & CO.LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P J Howells

S J Howells

D Jones

SECRETARY:

S J Howells

REGISTERED OFFICE:

Stourbridge Road

Bridgnorth

Shropshire

WV15 6AS

REGISTERED NUMBER:

00006028 (England and Wales)

AUDITORS:

Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

FIXED ASSETS

2,120,809

Tangible assets

4

2,033,515

60,842

Investments

5

60,842

2,181,651

2,094,357

CURRENT ASSETS

1,086,569

Stocks

1,249,841

540,990

Debtors

6

505,834

22,371

Cash at bank

30,135

1,649,930

1,785,810

CREDITORS

1,052,539

Amounts falling due within one year

7

1,497,578

597,391

NET CURRENT ASSETS

288,232

2,779,042

TOTAL ASSETS LESS CURRENT LIABILITIES

2,382,589

CREDITORS

206,898

Amounts falling due after more than one year

8

108,323

2,572,144

NET ASSETS

2,274,266

CAPITAL AND RESERVES

54,606

Called up share capital

11

54,606

42,504

Capital redemption reserve

42,504

2,475,034

Retained earnings

2,177,156

2,572,144

SHAREHOLDERS' FUNDS

2,274,266

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2025 and were signed on its behalf by:

S J Howells - Director

1.	STATUTORY INFORMATION

Craven Dunnill & Co.limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements contain information about Craven Dunnill & Co. Limited as an individual company and do not contain consolidated financial information as the parent of a group. Craven Dunnill Holdings Limited, the company's parent undertaking, prepares consolidated financial statements in which the results of Craven Dunnill & Co. Limited and its subsidiary undertaking are included. The consolidated financial statements of Craven Dunnill Holdings Limited are separately available.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably,

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2.5% on reducing balance

Plant and machinery

-

30% on reducing balance, 25% on cost, 20% on reducing balance and 6.6% on cost

Equipment

-

30% on cost, 20% on cost, 15% on cost, 10% - 30% on reducing balance, 5% on cost and 4% on cost

Motor vehicles

-

33% on reducing balance

Investments in subsidiaries and associates

Investments in subsidiaries are initially recorded at the fair value of the consideration paid in exchange for control of the acquiree including costs directly attributable to the acquisition of the subsidiary.

Investments are reviewed annually for indicators of impairment. Where indicators are identified the company assess the recoverable amount of the investment and where this is lower than its carrying value an impairment charge is recorded in the income statement. The recoverable amount of assets is the higher of fair value less costs to sell and value in use.

Investments in associates are held at cost less accumulated impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 53 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

Totals

buildings

etc

£

£

£

COST

At 1st January 2024

4,029,346

2,031,717

1,997,629

Additions

8,000

-

8,000

Disposals

(56,255

)

-

(56,255

)

At 31st December 2024

3,981,091

2,031,717

1,949,374

DEPRECIATION

At 1st January 2024

1,908,537

565,501

1,343,036

Charge for year

93,719

31,119

62,600

Eliminated on disposal

(54,680

)

-

(54,680

)

At 31st December 2024

1,947,576

596,620

1,350,956

NET BOOK VALUE

At 31st December 2024

2,033,515

1,435,097

598,418

At 31st December 2023

2,120,809

1,466,216

654,593

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

Totals

undertakings

associate

£

£

£

COST

At 1st January 2024

and 31st December 2024

60,842

60,002

840

NET BOOK VALUE

At 31st December 2024

60,842

60,002

840

At 31st December 2023

60,842

60,002

840

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

442,516

399,966

Amounts owed by group undertakings

-

16,664

Other debtors

63,318

124,360

505,834

540,990

Amounts owed by group undertakings are repayable on demand, unsecured and non-interest bearing.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

347,273

304,695

Trade creditors

413,667

297,445

Amounts owed to group undertakings

150,479

-

Taxation and social security

137,774

133,773

Other creditors

448,385

316,626

1,497,578

1,052,539

Amounts owed to group undertakings are repayable on demand, unsecured and non-interest bearing.

Bank loans are repaid in equal instalments terminating in November 2026 and carry a fixed rate of interest of 3.08%.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

108,323

206,898

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

124,345

124,725

Between one and five years

150,953

227,910

275,298

352,635

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

217,646

318,138

Bank loans are secured by a legal charge against the freehold property held by the company.

Under an agreement with the company's bankers dated 3 May 2006, the company has provided the bank with an unlimited inter-company guarantee in respect of its subsidiaries Craven Dunnill Jackfield Limited and Craven Dunnill Project Ceramics Limited.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

54,606

Ordinary

1

54,606

54,606

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren Foot FCA (Senior Statutory Auditor)

for and on behalf of Stanton Ralph & Co Limited

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14.	POST BALANCE SHEET EVENTS

The premises located in Alderley have been temporarily closed since February 2025 and have been placed on the market for lease. In Management’s opinion, there are no indications of impairment that would require the recognition of an impairment loss on fixed assets as of December 31, 2024.

Between the date of the financial statements and the date of their issuance, no other significant events have occurred that would require adjustment to or disclosure in the financial statements as of December 31, 2024.

15.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling undertaking is Craven Dunnill Holdings Limited. Mr P J Howells is considered to be the ultimate controlling party by virtue of his controlling interest in Craven Dunnill Holdings Limited.