REGISTERED NUMBER: 00668250 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

BENNETT ARCHITECTURAL ALUMINIUM

SOLUTIONS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L E J Grant

Mr R W Bennett

Mrs J A Grant

Mr J Trueman

Mr D S Frost

Mrs J Picken

SECRETARY:

Mrs J A Grant

REGISTERED OFFICE:

Rosevale Business Park

Rosevale Road

Newcastle-under-Lyme

Staffordshire

ST5 7UB

REGISTERED NUMBER:

00668250 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

BANKERS:

Handelsbanken

Island Reach

Festival Way

Festival Park

Stoke-on-Trent

Staffordshire

ST1 5SW

ASSETS

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

189,398

48,337

189,398

48,337

CURRENT ASSETS

Stocks

28,039

33,734

Debtors: amounts falling due within one year

7

1,213,281

1,476,547

Debtors: amounts falling due after more than one year

7

168,474

230,519

Prepayments and accrued income

99,352

95,385

Cash at bank and in hand

259,921

45,685

1,769,067

1,881,870

1,958,465

1,930,207

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Fair value reserve

503,048

-

Retained earnings

(325,121

)

141,905

SHAREHOLDER FUNDS

187,927

151,905

PROVISIONS FOR LIABILITIES

6,223

11,318

CREDITORS

Amounts falling due within one year

8

1,704,660

1,614,064

Amounts falling due after more than one year

9

45,960

131,799

1,750,620

1,745,863

ACCRUALS AND DEFERRED INCOME

13,695

21,121

1,958,465

1,930,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 December 2025 and were signed on its behalf by:

Mr L E J Grant - Director

Mr R W Bennett - Director

1.	STATUTORY INFORMATION

Bennett Architectural Aluminium Solutions Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00668250 and the registered office address is Rosevale Business Park, Rosevale Road, Newcastle-Under-Lyme, Staffordshire, ST5 7UB.

The principal activity of the company is the specialised production of high quality architectural aluminium solutions.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has taken advantage of the following disclosure exemptions available under FRS 102 Section 1A:

- No cash flow statement has been prepared.

- Key management personnel compensation is not disclosed.

- Financial instrument disclosures are limited to basic instruments.

Functional currency

The financial statements are prepared in sterling (£) which is the functional currency of the company.

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate.

The most significant areas include:

- Amounts recoverable on contracts: Estimation of stage of completion and recoverability.

- Deferred tax asset: Assessment of future profitability to support recognition.

- Revaluation of plant and machinery: Determination of fair value based on market conditions and asset usage.

Income recognition

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided at the following annual rates in order to write off each asset over it's estimated useful life less the residual value of the asset:

Computer software - 20% straight line

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its useful life or, if held under a finance lease, over the lease term, whichever is the shorter. The depreciation methods have been modified in 2017 to ensure that the net book values of assets are more realistic. In most instances this has involved revising the useful economic lives of the assets.

Improvements to property

- 5 years straight line

Plant and machinery

- 3 to 10 years straight line and reducing balance (lower value assets 1 year straight line)

Fixtures and fittings

- 3 to 10 years straight line (lower value assets 6 months - 1 year straight line)

Stocks

Raw materials stock is valued at lower of cost and estimated selling price less costs to sell. Cost is calculated using the FIFO method.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants received in relation to tangible fixed assets are credited to deferred income and released to profit and loss over the useful lives of the related assets, whereas those in relation to expenditure are credited to profit and loss when the expenditure is charged to profit and loss.

Government grants, which include amounts received under the Coronavirus Job Retention Scheme, are recognised at the fair value of the grant received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. The income is recognised in other income on a systematic basis over the periods in which the associated costs are incurred, using the accrual model.

Government grants, which include the amounts received from the Coronavirus Business Interruption Loan Scheme that cover interest and fees payable to the lender, are treated as basic financial instruments. The interest and fees paid by the Government are included as grants in the period where the benefit is received.

Rates holiday

Business rates holidays received are set off against the applicable rate expense for the period covered by the holiday.

Financial risk management policies and objectives

The company uses a number of financial instruments which include stock funding, cash, equity and other various items such as trade debtors and trade creditors which arise directly from, its operations. The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below. The significant risks arising from the Group's financial instruments are interest rate risk, liquidity risk and credit risk. The directors review and agree policies for the management of each of these risks which are noted below. These policies are consistent with those from the previous year.

Other income

Other income is generally composed primarily of one off none trading receipts and profit and losses on disposal of assets.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the, company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Impairment of Tangible Assets

Property, plant and equipment are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. Any impairment in value is charged to the income statement in the period in which it occurs.

Revaluation of Tangible Assets

Tangible fixed assets are initially measured at cost, which includes expenditure directly attributable to bringing the asset into working condition for its intended use.

Where the directors consider that the carrying amount of a tangible fixed asset does not reflect its fair value, and that a revaluation is necessary to present a true and fair view, the asset is revalued in accordance with the revaluation model permitted under FRS 102 Section 17.

Revaluation Model

- Assets are revalued to fair value at the date of revaluation, less any subsequent accumulated depreciation and impairment losses.

- Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from fair value at the balance sheet date.

- All assets within a class are revalued simultaneously to ensure consistency.

Revaluation Gains and Losses

- Increases in value are recognised in other comprehensive income and accumulated in a revaluation reserve, unless they reverse a previous revaluation decrease recognised in profit or loss.

- Decreases in value are recognised in profit or loss, unless they reverse a previous revaluation surplus.

Depreciation

- Depreciation is charged on a straight-line basis over the asset's estimated useful life.

- The revalued amount is depreciated from the date of revaluation.

Disclosures

In accordance with FRS 102 Section 1A.6, additional disclosures are provided to ensure the financial statements give a true and fair view, including:

-The basis of revaluation and date of valuation

- Whether the valuation was performed by an independent valuer

- The carrying amount that would have been recognised under the cost model

- The revaluation reserve and movements during the period

Property, plant and equipment are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. Any impairment in value is charged to the income statement in the period in which it occurs.

Leased assets

Where assets are financed by leasing agreements which give rights approximating to ownership, the assets are treated as if they had been purchased outright. The amount capitalised is the lower of the fair value or the present value of the minimum lease payments during the lease term at the inception of the lease. The assets are depreciated over the shorter of the lease term or their useful life. Obligations relating to finance leases, net of finance charges in respect of future periods, are included, as appropriate, under borrowings due within or after one year. The finance charge element of rentals is charged to finance costs in the income statement over the lease term.

All other leases are operating leases and the rental payments are generally charged to the income statement in the period to which the payments relate, except for those leases which incorporate fixed minimum rental uplift clauses.

Leases which contain fixed minimum rental uplifts are charged to the income statement on a straight line basis over the lease term.

Incentives received or paid to enter into lease agreements are released to the income statement on a straight line basis over the lease term.

Trade receivables

Trade receivables are initially recognised at fair value and are subsequently measured at amortised cost less any provision for bad and doubtful debts.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Going concern

The accounts are prepared on a going concern basis despite the net liability position of the company. The directors are confident that business performance will improve in the short and long term and so believe that the company will continue to trade for the next twelve months.

Economic outlook

The success of the business is reliant on consumer spending which fuels the construction industry. Any economic downturn, resulting in a reduction of consumer spending power, will have a direct impact on the income achieved by the company. In response to this risk, senior management aims to keep abreast of economic conditions. In cases of severe economic downturn, marketing and pricing strategies are modified to reflect the new market conditions.

Amounts recoverable on contracts

Long-term contracts are assessed on a contract-by-contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract and the business. Where it is considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion, the prudently calculated attributable profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for that contract.

The amount by which recorded turnover is in excess of payments on account is classified as 'amounts recoverable on contracts' and separately disclosed within debtors.

The balance of payments on account (in excess of amounts (i) matched with turnover; and (ii) offset against long-term contract balances) is classified as payments on account and separately disclosed within creditors.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2024 - 48 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1st April 2024

and 31st March 2025

66,945

AMORTISATION

At 1st April 2024

and 31st March 2025

66,945

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1st April 2024

5,609

416,944

184,438

606,991

Additions

-

7,389

-

7,389

Revaluations

-

161,455

-

161,455

At 31st March 2025

5,609

585,788

184,438

775,835

DEPRECIATION

At 1st April 2024

5,609

377,237

175,808

558,654

Charge for year

-

25,090

2,693

27,783

At 31st March 2025

5,609

402,327

178,501

586,437

NET BOOK VALUE

At 31st March 2025

-

183,461

5,937

189,398

At 31st March 2024

-

39,707

8,630

48,337

In accordance with FRS 102 Section 1A.6, the directors have reviewed the carrying value of tangible fixed assets and determined that a revaluation of plant and machinery was necessary to ensure the financial statements present a true and fair view. This revaluation was carried out by the directors during the year ended 31 March 2025.

The revaluation was based on the directors' assessment of fair value, taking into account current market conditions and the asset's condition and usage. The resulting revaluation surplus of £161,455 has been recognised in other comprehensive income and credited to a revaluation reserve within equity, in accordance with FRS 102 Section 17.15A-17.15D.

The company applies the revaluation model to all tangible fixed assets stated at historical cost. Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from fair value at the reporting date.

Had plant and machinery been stated under the cost model, the carrying amount at 31 March 2025 would have been £22,006.

Cost or valuation at 31st March 2025 is represented by:

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Cost

5,609

585,788

184,438

775,835

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

299,160

350,906

Amounts recoverable on contract

524,341

1,103,484

Other debtors

389,780

22,157

1,213,281

1,476,547

Amounts falling due after more than one year:

Trade debtors

168,474

230,519

Aggregate amounts

1,381,755

1,707,066

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

-

1

Payments on account

-

16,959

Trade creditors

1,536,854

1,057,272

Taxation and social security

72,493

67,180

Other creditors

95,313

472,652

1,704,660

1,614,064

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

45,960

131,799

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

1

Other loans

29,650

66,290

29,650

66,291

2025

2024

£

£

Amounts falling due between one and two years:

Other loans - 1-2 years

-

29,650

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

-

1

Other loans

29,650

95,940

Other creditors

-

346,083

29,650

442,024

There exists a debenture in favour of Lionel Grant and Robert Bennett dated 07/09/2021, incorporating fixed and floating charges and a negative pledge.

There exists a secured debt regarding a factoring account, secured against trade debtors.

12.	OTHER FINANCIAL COMMITMENTS

The company has total future operating lease commitments of £608,761 (2024 - £532,687), of which £207,419 (2024: £188,081) is due within one year.

13.	REVALUATION RESERVE - REVALUATION RESERVE MOVEMENT

During the year, the directors revalued plant and machinery to fair value, resulting in a revaluation surplus of £161,455. This amount has been recognised in other comprehensive income and credited to the revaluation reserve.

Description

Opening Balance

NIL

Revaluation Surplus

£161,455

Closing Balance

£161,455

Had the asset been stated under the cost model, its carrying amount would have been £22,006.

Deferred Tax Asset

A deferred tax asset of £341,593 has been recognised in respect of timing differences and tax losses carried forward. The directors are confident that sufficient future taxable profits will be available to utilise the asset, based on forecasts and strategic plans.

Source of Deferred Tax Asset

Tax losses carried forward

£289.000

Timing difference (e.g. depreciation vs capital allowances)

£52,593

Total

£341,593

Post Balance Sheet Events

There were no material post balance sheet events requiring disclosure in these financial statements.