REGISTERED NUMBER: 08422472 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

247 NATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J McGill

S J McGill

M Popov

SECRETARY:

K L Johnston

REGISTERED OFFICE:

26 The Business Centre

Molly Millars Lane

Wokingham

Berkshire

RG41 2QY

REGISTERED NUMBER:

08422472 (England and Wales)

AUDITORS:

Cooper Parry Group Limited

Statutory Auditor

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

FIXED ASSETS

Tangible assets

4

216,730

218,570

CURRENT ASSETS

Debtors

5

2,196,826

2,140,717

Cash in hand

52,791

37,845

2,249,617

2,178,562

CREDITORS

Amounts falling due within one year

6

1,724,797

1,990,511

NET CURRENT ASSETS

524,820

188,051

TOTAL ASSETS LESS CURRENT LIABILITIES

741,550

406,621

CREDITORS

Amounts falling due after more than one year

7

(148,805

)

(116,908

)

PROVISIONS FOR LIABILITIES

(52,251

)

(52,269

)

NET ASSETS

540,494

237,444

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

540,493

237,443

SHAREHOLDERS' FUNDS

540,494

237,444

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 and authorised for issue by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

J McGill - Director

1.	STATUTORY INFORMATION

247 National 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.

Going Concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually

associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Leasehold Improvements - 10 years

Motor vehicles - 5 years

Office equipment - 4 years

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 the Statement of comprehensive income.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax

allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Research and development

Research and development expenditure is written off in the year in which it is incurred.

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange

rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Provisions for liabilities

Provisions are made when an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

Office

improvements

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

5,250

23,345

442,533

8,809

479,937

Additions

-

-

81,052

7,724

88,776

At 31 March 2025

5,250

23,345

523,585

16,533

568,713

DEPRECIATION

At 1 April 2024

3,238

17,315

232,885

7,929

261,367

Charge for year

525

5,234

83,415

1,442

90,616

At 31 March 2025

3,763

22,549

316,300

9,371

351,983

NET BOOK VALUE

At 31 March 2025

1,487

796

207,285

7,162

216,730

At 31 March 2024

2,012

6,030

209,648

880

218,570

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

19,365

278,095

297,460

Additions

-

81,053

81,053

At 31 March 2025

19,365

359,148

378,513

DEPRECIATION

At 1 April 2024

14,927

90,692

105,619

Charge for year

4,438

62,469

66,907

At 31 March 2025

19,365

153,161

172,526

NET BOOK VALUE

At 31 March 2025

-

205,987

205,987

At 31 March 2024

4,438

187,403

191,841

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

368,390

377,090

Amounts owed by group undertakings

1,804,732

1,763,627

Prepayments and accrued income

23,704

-

2,196,826

2,140,717

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

51,259

46,537

Trade creditors

108,861

93,691

Amounts owed to group undertakings

1,412,655

1,797,192

Tax

101,500

2,153

Social security and other taxes

29,648

12,183

Accruals and deferred income

20,874

38,755

1,724,797

1,990,511

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

148,805

116,908

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

200,064

163,445

Amounts payable under finance leases or hire purchase contracts are secured on the underlying assets.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

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

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

11.	CONTINGENT LIABILITIES

The company is not part of the Group invoice discounting agreement but has provided a cross guarantee in respect of this. At the year end, there was a contingent liability relating to this of £2,364,607 (2024 - £2,058,926). The Group companies party to the invoice discounting agreement are Surelock McGill Limited, Stafford Bridge Doors Limited and Tindall Engineering Limited.

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under paragraph 33.1A of FRS 102 not to disclose transactions with other wholly owned group members.

13.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Surelock McGill Limited, a company incorporated in England.

J McGill, director, is also a director and the majority shareholder of Surelock McGill Limited, and thus has ultimate control.

Copies of the group accounts can be obtained from 26, The Business Centre, Molly Millars Lane, Wokingham, Berkshire, RG41 2QY.