Company registration number 01972717 (England and Wales)
CONSTRUCTION FASTENER TECHNIQUES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
CONSTRUCTION FASTENER TECHNIQUES LIMITED
COMPANY INFORMATION
Directors
Mr J P Tibbetts
(Appointed 23 December 2024)
Mr S Wilkinson
(Appointed 23 December 2024)
Company number
01972717
Registered office
Tibbetts House
Beaumont Road
Banbury
OX16 1RH
Accountants
Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
CONSTRUCTION FASTENER TECHNIQUES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 11
CONSTRUCTION FASTENER TECHNIQUES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
30 April 2025
31 March 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
28,180
85,462
Current assets
Stocks
531,766
747,847
Debtors
5
1,941,069
1,231,862
Cash at bank and in hand
285,636
685,097
2,758,471
2,664,806
Creditors: amounts falling due within one year
6
(1,423,903)
(1,385,035)
Net current assets
1,334,568
1,279,771
Total assets less current liabilities
1,362,748
1,365,233
Creditors: amounts falling due after more than one year
7
-
(40,831)
Provisions for liabilities
(4,877)
(8,395)
Net assets
1,357,871
1,316,007
Capital and reserves
Called up share capital
9
30,000
30,000
Profit and loss reserves
1,327,871
1,286,007
Total equity
1,357,871
1,316,007
CONSTRUCTION FASTENER TECHNIQUES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial period ended 30 April 2025 the company was entitled to exemption from audit under section 47 9A of the Companies Act 2006 relating to subsidiary companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 December 2025 and are signed on its behalf by:
Mr J P Tibbetts
Director
Company registration number 01972717 (England and Wales)
CONSTRUCTION FASTENER TECHNIQUES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -
Called up share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
30,000
1,134,018
1,164,018
Year ended 31 March 2024:
Profit and total comprehensive income
-
457,989
457,989
Dividends
-
(306,000)
(306,000)
Balance at 31 March 2024
30,000
1,286,007
1,316,007
Period ended 30 April 2025:
Profit and total comprehensive income
-
181,364
181,364
Dividends
-
(139,500)
(139,500)
Balance at 30 April 2025
30,000
1,327,871
1,357,871
CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 4 -
1
Accounting policies
Company information

Construction Fastener Techniques Limited (the "company") is a private company limited by shares and incorporated in England and Wales. The registered office is Tibbetts House, Beaumont Road, Banbury, OX16 1RH.

1.1
Reporting period

The accounting reference date of the company has been changed from 31 March to 30 April, to align with its parent company. These financial statements cover the 13 month period ended 30 April 2025. The comparative period covered the year ended 31 March 2024. Therefore, the figures presented in these financial statements and accompanying notes are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of [XXXXX]. These consolidated financial statements are available from its registered office, [XXXXXX].

1.3
Going concern

On 1 May 2025 the trade and assets of this company were hived up into the parent company, Powell Gee Limited true, and the company ceased trading from this date.

T he financial statements have been prepared on the basis that the company is no longer a going concern however, no adjustments have arisen as a result of the change to the non-going concern basis of accounting.

CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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 transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Other income

Interest income is recognised using the effective interest rate method.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% straight line
Computers
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes, duties, transport and handling directly attributable to bring the stock to its present location and condition. The cost of manufactured finished goods and work in progress includes design costs, raw materials, direct labour and other direct costs and related production overheads (based on normal operating capacity).

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, a mounts owed by group undertakings, a nd cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Differences between contributions payable during the period and contributions actually paid are shown as other creditors.

1.13
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 8 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 consider there to be no key judgments that are material to the company.

Key sources of estimation uncertainty

The estimate s and assumption s which ha ve a significant risk of causing a material adjustment to the carrying amount of assets are as follows:

Stock provision

It is necessary to consider the recoverability of the cost of the stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated sale of finished goods and future usage of raw materials.

Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. At the reporting date, management do not consider it necessary to include a provision.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

Period ended
Year ended
30 April
31 March
2025
2024
Number
Number
Total
10
11
CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 9 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
146,380
11,662
56,371
214,413
Disposals
-
0
-
0
(56,371)
(56,371)
At 30 April 2025
146,380
11,662
-
0
158,042
Depreciation and impairment
At 1 April 2024
107,405
7,453
14,093
128,951
Depreciation charged in the period
12,728
2,276
8,808
23,812
Eliminated in respect of disposals
-
0
-
0
(22,901)
(22,901)
At 30 April 2025
120,133
9,729
-
0
129,862
Carrying amount
At 30 April 2025
26,247
1,933
-
0
28,180
At 31 March 2024
38,975
4,209
42,278
85,462
5
Debtors
April
March
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,151,684
1,180,900
Amounts owed by group undertakings
761,186
-
0
Other debtors
28,199
50,962
1,941,069
1,231,862
6
Creditors: amounts falling due within one year
April
March
Note
2025
2024
£
£
Obligations under finance leases
8
-
0
4,769
Trade creditors
928,773
994,946
Corporation tax
66,000
158,623
Other taxation and social security
157,880
141,435
Other creditors
271,250
85,262
1,423,903
1,385,035
CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 10 -
7
Creditors: amounts falling due after more than one year
April
March
2025
2024
Note
£
£
Obligations under finance leases
8
-
0
40,831
8
Finance lease obligations
April
March
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
-
0
8,141
In two to five years
-
0
49,261
-
0
57,402
Less: future finance charges
-
0
(11,802)
-
0
45,600
Net obligations due:
Within one year
-
0
4,769
After more than one year
-
0
40,831
-
45,600

Finance lease payments represent rentals payable by the company for certain motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. The finance leases were settled during the period.

9
Called up share capital
April
March
April
March
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
30,000
30,000
30,000
30,000
CONSTRUCTION FASTENER TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 11 -
10
Operating lease commitments
As lessee

At the reporting date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

April
March
2025
2024
£
£
Total commitments
164,541
276,948
11
Related party transactions

The company has taken advantage of the exemption provided by FRS102 Section 33, not to disclose transactions and outstanding balances with Tibbetts Holdings Limited and its 100% directly or indirectly controlled subsidiary undertakings which form part of the Tibbetts Group.

12
Events after the reporting date

On 1 May 2025, the trade and assets of the company were hived up to the parent company.

13
Parent company

On 23 December 2024, the company was acquired by Powell Gee Limited, a company registered in England and Wales with a registered office of Tibbetts House, Beaumont Road, Banbury, England, OX16 1RH.

The ultimate parent company and smallest group for which consolidated accounts, which include the results of the company, are prepared is headed by Tibbetts Holdings Limited. The consolidated financial statements are available from its registered office, Tibbetts House, Beaumont Road, Banbury, Oxfordshire, OX16 1RH.

On 10 September 2025, the share capital of Tibbetts Holdings Limited was acquired by the company Abc2025 Limited via a share for share exchange. There was no change of ultimate controlling party.

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