Company registration number 13664062 (England and Wales)
ARBURY HILL LIMITED
ANNUAL REPORT AND GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
ARBURY HILL LIMITED
COMPANY INFORMATION
Directors
S Stringer
S Bayliss
Company number
13664062
Registered office
Oakley House
Headway Business Park
3 Saxon Way West
Corby
Northamptonshire
NN18 9EZ
Auditor
Moore
Oakley House
Headway Business Park
3 Saxon Way West
Corby
Northamptonshire
NN18 9EZ
ARBURY HILL LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 9
Profit and loss account
10
Group statement of comprehensive income
11
Group balance sheet
12 - 13
Company balance sheet
14
Group statement of changes in equity
15
Company statement of changes in equity
16
Group statement of cash flows
17
Company statement of cash flows
18
Notes to the financial statements
19 - 39
ARBURY HILL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the year ended 30 April 2025.

Review of the business

Arbury Hill Ltd is a UK-based decentralised group of SME’s focused on engineering and general manufacturing operating through four wholly-owned subsidiary companies. The Group provides a wide range of high-quality products across a wide range of sectors including retail furniture, temporary power, sheet steel sub-assembly and cast stone products, offering a range of design, fabrication, and assembly services.

The Group continues to develop its competitive advantage through engineering excellence, operational efficiency, and investment in innovation and sustainability. Our core capabilities include precision manufacturing, bespoke engineering solutions and component supply.

For the financial year, the group generated a combined turnover of £10,013,945 (2024: £8,251,183), representing a 21.4% year-on-year increase, driven predominantly by the full year impact of strategic acquisitions in 2023/24.

Group Structure

The group consists of the following wholly-owned subsidiaries:

1. Seeco (UK) Limited – Specialises in the engineering of sub-assembly steel components.

2. Integral Electrical Services Limited – Focuses on manufacture of electricity distribution and control apparatus

3. Serene Stone Limited – Manufactures cast stone solutions for the UK housebuilding sector.

4. Acegate (Manufacturing) Ltd – in the engineering of sub-assembly sheet and tube steel components.

5. Arbury Stone Products Limited - Holding company for Serene Stone Limited

6. Arbury Precision Engineering Ltd - Holding company for Seeco (UK) Limited and Acegate (Manufacturing) Ltd

7. Arbury Electrical Services Ltd - Holding company for Integral Electrical Services Limited

Business Model and Strategy

The group’s business model centres on strategic acquisition in the UK SME engineering and manufacturing sector. Focus is on long-established businesses with an excellent trading history.

The group subsidiaries focus on the same operating model based around:

• Improving revenue through pricing, margin enhancement, business development and product improvement.

• Driving value through long-term planning, capital spending, HR principles and system improvement.

• Financial control including cash management, cost review and efficiency savings.

The strategic focus remains on:

• Strengthening relationships with key clients across the UK and EU.

• Investing in modernising production facilities and digital automation.

• Driving operational efficiencies and improving margins through lean manufacturing principles.

Principal risks and uncertainties

The board actively monitors key risks to safeguard long-term performance. The main risks identified include:

1. Economic Volatility: Changes in UK market conditions may impact demand. Mitigation includes sector diversification and minimising exposure to a single customer.

2. Supply Chain Disruption: Delays or cost inflation in raw materials can affect production. The group mitigates this through multi-sourcing strategies and increased inventory planning.

3. Skilled Labour Shortages: A tight labour market for engineers and the impact of central government policy remains a concern. A consistent process of high-quality recruitment, staff upskilling and progression are in place.

ARBURY HILL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Key performance indicators

Metric FY25 FY24 Change

Turnover £10,013,945 £8,251,183 +21.4%

Gross Profit £4,240,675 £3,548,322 +19.5%

Operating Profit £327,921 £398,598 -17.7%

Net (Loss)/Profit Before Tax (£320,232) (£97,735) -227%

Cash at Bank £787,065 £1,886,637 -58.3%

Net (liabilities)/assets (£265,026) £53,669

Changes in financial performance during 2024/25 relate almost entirely to acquisitions made in the previous financial year, in particular the acquisition of Acegate (Manufacturing) Ltd in April 2024.

Other information and explanations

Future Outlook

Looking ahead to FY26, the directors remain cautiously optimistic. The group is planning a number of key appointments and is implementing strategies across all four subsidiaries to increase and stabilise future revenue. Planned investments (subsidiary specific) include:

• Increasing production capacity by 25%.

• Recruitment of experts to expand potential customer base.

• Upgrading to a full ERP system.

• Recruitment of commercial focussed Managing Director.

The board expects revenue growth and continued improvement in operating margins over the next 12 months, barring significant macroeconomic shocks.

Conclusion

Following acquisitions in the previous financial year, FY25 has been a year of consolidation and integration. Despite volatility in central government impacting investment in the broader UK economy the group has established a foundation to allow growth through FY26. Our continued investment in people and technology provides a strong platform for future expansion. The directors thank all staff, customers, and stakeholders for their contributions.

Promoting the success of the company

In accordance with Section 172 of the Companies Act 2006, the directors confirm they have acted in good faith to promote the success of the group. As a decentralised group of SME’s focused on engineering and general manufacturing, the directors make decisions in a hands-on and collaborative way, with direct oversight of day-to-day operations. The following illustrates how these duties have been considered during the financial year:

• Long-term decision making: Investments in new machinery and tooling were made during the year to improve production efficiency and meet anticipated customer demand. These decisions were taken with a view to ensuring long-term sustainability and competitiveness.

• Employees: The directors recognise that the company’s success depends on its skilled workforce. Open communication, fair pay, training opportunities, and a safe working environment remain key priorities. Regular meetings and informal feedback help ensure staff are engaged and supported.

• Customers and suppliers: Strong relationships with customers and suppliers are essential to the business. The company maintains regular contact and works collaboratively to meet quality standards and delivery timelines.

• Community and environment: While our environmental impact is relatively small, we have taken steps to reduce waste and energy consumption, including recycling materials and using energy-efficient equipment.

• Business conduct: The directors aim to uphold high standards of integrity, quality, and professionalism in all aspects of the business. Compliance with health and safety, data protection, and industry standards is regularly reviewed

ARBURY HILL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

On behalf of the board

S Stringer
Director
19 December 2025
ARBURY HILL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Principal activities

The principal activity of the company continued to be that of a holding company.

The principal activities of the group companies continued to be as follows:

Arbury Stone Products Limited - that of a holding company

Arbury Precision Engineering Ltd - that of a holding company

Arbury Electrical Services Ltd - that of a holding company

Serene Stone Limited - cutting, shaping and finishing stone

Seeco (UK) Limited - that of engineering iron and steel components

Integral Electrical Services Limited - that of manufacture of electricity distribution and control apparatus

Acegate (Manufacturing) Ltd - that of manufacture of precision metal work

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

S Stringer
S Bayliss
Auditor

The auditor, Moore, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
S Stringer
Director
19 December 2025
ARBURY HILL LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ARBURY HILL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ARBURY HILL LIMITED
- 6 -

Qualified opinion

We have audited the financial statements of Arbury Hill Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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).

In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 30 April 2025 and of the group's loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

With respect to stock having a brought forward carrying amount of £25,301 the audit evidence available to us was limited because we did not observe the counting of the physical stock as at 30 June 2023, since that date was prior to our appointment as auditor of the company. Owing to the nature of the company’s records, we were unable to obtain sufficient appropriate audit evidence regarding the stock quantities by using other audit procedures.

W ith respect to stock having a carrying amount of £169,353 at 30 April 2024 the audit evidence available to us was limited because we did not observe the counting of the physical stock as at 30 April 2024, since t his date w as prior to our appointment as auditor of the company. Owing to the nature of the company’s records, we were unable to obtain sufficient appropriate audit evidence regarding the stock quantities by using other audit procedures for the prior year.

With respect to WIP having a carrying amount of £104,134 at 30 April 2025, the audit evidence available to us was limited due to the system being unable to provide an accurate value for the WIP items that we sampled. Owing to the nature of the company’s records, we were unable to obtain sufficient appropriate audit evidence regarding the value of WIP by using other audit procedures.

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 qualified opinion.

Conclusions relating to going concern

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 group's and parent 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.

ARBURY HILL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ARBURY HILL LIMITED
- 7 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves with regards to the value of stock and WIP. We have concluded where the other information refers to the inventory balance or WIP, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the directors' r eport 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.

Matters on which we are required to report by exception

Except for the matters referred to in the basis for qualified opinion section of our report in the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

In respect solely of the limitation on our work relating to stock and WIP, described above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records had been maintained for stock; and

- adequate accounting records have not been maintained with regards to WIP

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made;

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

ARBURY HILL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ARBURY HILL LIMITED
- 8 -
Auditor's responsibilities for the audit of the financial statements

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 auditor's 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.

As part of our audit, we directed, supervised and performed the group audit in accordance with International Standards on Auditing (UK) (ISAs (UK)). The group audit was conducted entirely by our audit team and no other auditors were involved. We remain responsible for the direction, supervision and performance of the group audit and for the audit opinion expressed on the group financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Explanation as to what extent the audit was considered capable of detecting irregularities including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.

We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

Going concern was reviewed by assessing the companies available financial resources and accuracy of cashflow forecasting as well as enquiries of management.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

The comparative figures for the financial statements of Arbury Stone Products Limited, Arbury Electrical Services Ltd and Arbury Precision Engineering Ltd have not been subject to audit.

ARBURY HILL LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ARBURY HILL LIMITED
- 9 -

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Amanda Etty
For and on behalf of Moore
Statutory Auditor
Chartered Accountants
Oakley House
Headway Business Park
3 Saxon Way West
Corby
Northamptonshire
NN18 9EZ
19 December 2025
ARBURY HILL LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
2025
2024
as restated
Notes
£
£
Turnover
3
10,013,945
8,251,183
Cost of sales
(5,773,270)
(4,702,861)
Gross profit
4,240,675
3,548,322
Administrative expenses
(3,916,947)
(3,151,680)
Other operating income
4,193
1,956
Operating profit
4
327,921
398,598
Interest receivable and similar income
7
6,755
6,368
Interest payable and similar expenses
8
(654,908)
(553,182)
Amounts written off investments
9
-
50,481
Loss before taxation
(320,232)
(97,735)
Tax on loss
10
(13,620)
(276,063)
Loss for the financial year
26
(333,852)
(373,798)
Loss for the financial year is all attributable to the owners of the parent company.
ARBURY HILL LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
2025
2024
as restated
£
£
Loss for the year
(333,852)
(373,798)
Other comprehensive income
Revaluation of tangible fixed assets
-
0
1,013,848
Cash flow hedges gain arising in the year
-
0
-
0
Tax relating to other comprehensive income
15,157
(232,718)
Other comprehensive income for the year
15,157
781,130
Total comprehensive income for the year
(318,695)
407,332
Total comprehensive income for the year is all attributable to the owners of the parent company.
ARBURY HILL LIMITED
GROUP BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 12 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Goodwill
11
3,829,035
4,301,341
Total intangible assets
3,829,035
4,301,341
Tangible assets
12
1,962,399
2,083,939
5,791,434
6,385,280
Current assets
Stocks
15
593,371
608,434
Debtors
16
2,709,640
2,808,288
Cash at bank and in hand
787,065
1,886,637
4,090,076
5,303,359
Creditors: amounts falling due within one year
17
(5,861,224)
(6,350,513)
Net current liabilities
(1,771,148)
(1,047,154)
Total assets less current liabilities
4,020,286
5,338,126
Creditors: amounts falling due after more than one year
18
(3,893,580)
(4,851,851)
Provisions for liabilities
Provisions
22
22,476
21,800
Deferred tax liability
23
369,256
410,806
(391,732)
(432,606)
Net (liabilities)/assets
(265,026)
53,669
Capital and reserves
Called up share capital
25
100
100
Share premium account
26
99,900
99,900
Revaluation reserve
26
652,684
698,156
Profit and loss reserves
26
(1,017,710)
(744,487)
Total equity
(265,026)
53,669
ARBURY HILL LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 13 -

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 19 December 2025 and are signed on its behalf by:
19 December 2025
S Stringer
Director
Company registration number 13664062 (England and Wales)
ARBURY HILL LIMITED
COMPANY BALANCE SHEET
AS AT 30 APRIL 2025
30 April 2025
- 14 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Investments
13
102
102
Current assets
Debtors
16
6,185,085
6,493,587
Cash at bank and in hand
89,018
623,203
6,274,103
7,116,790
Creditors: amounts falling due within one year
17
(2,263,237)
(2,169,295)
Net current assets
4,010,866
4,947,495
Total assets less current liabilities
4,010,968
4,947,597
Creditors: amounts falling due after more than one year
18
(3,863,421)
(4,829,754)
Net assets
147,547
117,843
Capital and reserves
Called up share capital
25
100
100
Share premium account
26
99,900
99,900
Profit and loss reserves
26
47,547
17,843
Total equity
147,547
117,843

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £29,705 (2024 - £21,195 profit).

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

The financial statements were approved by the board of directors and authorised for issue on 19 December 2025 and are signed on its behalf by:
19 December 2025
S Stringer
Director
Company registration number 13664062 (England and Wales)
ARBURY HILL LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 15 -
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
£
As restated for the period ended 30 April 2024:
Balance at 1 May 2023
100
99,900
-
0
(453,663)
(353,663)
Year ended 30 April 2024:
Loss for the year
-
-
-
(373,798)
(373,798)
Other comprehensive income:
Revaluation of tangible fixed assets
-
-
1,013,848
-
1,013,848
Tax relating to other comprehensive income
-
-
(232,718)
-
0
(232,718)
Total comprehensive income
-
-
781,130
(373,798)
407,332
Transfers
-
-
(82,974)
82,974
-
Balance at 30 April 2024
100
99,900
698,156
(744,487)
53,669
Year ended 30 April 2025:
Loss for the year
-
-
-
(333,852)
(333,852)
Other comprehensive income:
Tax relating to other comprehensive income
-
-
15,157
-
0
15,157
Total comprehensive income
-
-
15,157
(333,852)
(318,695)
Transfers
-
-
(60,629)
60,629
-
Balance at 30 April 2025
100
99,900
652,684
(1,017,710)
(265,026)
ARBURY HILL LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
As restated for the period ended 30 April 2024:
Balance at 1 May 2023
100
99,900
(3,352)
96,648
Year ended 30 April 2024:
Profit and total comprehensive income for the year
-
-
21,195
21,195
Balance at 30 April 2024
100
99,900
17,843
117,843
Year ended 30 April 2025:
Profit and total comprehensive income
-
-
29,704
29,704
Balance at 30 April 2025
100
99,900
47,547
147,547
ARBURY HILL LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 17 -
2025
2024
as restated
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
29
1,263,388
(309,835)
Interest paid
(654,908)
(553,182)
Income taxes (paid)/refunded
(466,335)
427,776
Net cash inflow/(outflow) from operating activities
142,145
(435,241)
Investing activities
Increase in subsidiary value
(4,200)
-
Purchase of tangible fixed assets
(42,904)
(76,111)
Proceeds from disposal of tangible fixed assets
5,690
118,586
Purchase of subsidiaries, net of cash acquired
-
(3,608,405)
Interest received
6,755
6,368
Net cash used in investing activities
(34,659)
(3,559,562)
Financing activities
Proceeds from new bank loans
-
6,524,453
Repayment of bank loans
(1,204,016)
(1,688,181)
Payment of finance leases obligations
(3,042)
(40,787)
Net cash (used in)/generated from financing activities
(1,207,058)
4,795,485
Net (decrease)/increase in cash and cash equivalents
(1,099,572)
800,682
Cash and cash equivalents at beginning of year
1,886,637
1,085,955
Cash and cash equivalents at end of year
787,065
1,886,637
ARBURY HILL LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
30
371,609
(6,031,388)
Interest paid
(628,845)
(364,425)
Net cash outflow from operating activities
(257,236)
(6,395,813)
Investing activities
Interest received
627,067
305,915
Dividends received
300,000
400,000
Net cash generated from investing activities
927,067
705,915
Financing activities
Repayment of bank loans
(1,204,016)
6,166,453
Net cash (used in)/generated from financing activities
(1,204,016)
6,166,453
Net (decrease)/increase in cash and cash equivalents
(534,185)
476,555
Cash and cash equivalents at beginning of year
623,203
146,648
Cash and cash equivalents at end of year
89,018
623,203
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 19 -
1
Accounting policies
Company information

Arbury Hill Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is, Headway Business Park, 3 Saxon Way West, Corby, Northamptonshire, NN18 9EZ.

The group consists of Arbury Hill Limited and all of its subsidiaries.

1.1
Basis of preparation

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.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Arbury Hill Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 30 April 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 20 -

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
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.

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

1.6
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.7
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 21 -
1.8
Tangible fixed assets

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

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

Leasehold land and buildings
15% reducing balance/2% straight line
Plant and equipment
15% reducing balance
Fixtures and fittings
25%/15% reducing balance
Computers
20% & 33% straight line/20% reducing balance
Motor vehicles
33%/20%/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 recognised in the profit and loss account.

1.9
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 22 -
1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11
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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.12
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 23 -
1.13
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 24 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.14
Compound instruments

The component parts of compound instruments issued by the group are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.

1.15
Equity instruments

Equity instruments issued by the group 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 group.

1.16
Taxation

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

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 25 -
Current tax

The tax currently payable is based on taxable profit for the year. 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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 end 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 if, and only if, there is 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.

1.17
Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.18
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.

1.19
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 26 -
1.20
Leases

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 d asset are consumed.

1.21
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
9,645,454
7,831,673
Europe
368,491
419,510
10,013,945
8,251,183
2025
2024
£
£
Other revenue
Interest income
6,755
6,368
Grants received
500
-
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 27 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Research and development costs
1,026
1,684
Government grants
(500)
-
Fees payable to the group's auditor for the audit of the group's financial statements
11,144
5,000
Depreciation of owned tangible fixed assets
156,183
205,565
Loss/(profit) on disposal of tangible fixed assets
15,486
(11,309)
Amortisation of intangible assets
476,506
372,011
Operating lease charges
154,947
169,557
5
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
86
80
3
2

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
3,261,536
2,733,123
40,962
-
0
Social security costs
157,640
115,241
4,699
-
Pension costs
68,060
86,023
1,213
-
0
3,487,236
2,934,387
46,874
-
0
6
Directors' remuneration - Group
2025
2024
£
£
Remuneration for qualifying services
278,100
239,003
Company pension contributions to defined contribution schemes
24,997
41,126
303,097
280,129
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
6
Directors' remuneration - Group
(Continued)
- 28 -
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
86,750
96,003
Company pension contributions to defined contribution schemes
22,473
32,605
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
6,755
6,368
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
6,755
6,368
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
630,359
524,032
Other finance costs:
Interest on finance leases and hire purchase contracts
5,403
1,632
Other interest
19,146
27,518
Total finance costs
654,908
553,182
9
Amounts written off investments
2025
2024
£
£
Gain on disposal of investments held at fair value
-
50,481
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
156,826
161,353
Adjustments in respect of prior periods
(83,849)
1,520
Total current tax
72,977
162,873
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
10
Taxation
2025
2024
£
£
(Continued)
- 29 -
Deferred tax
Origination and reversal of timing differences
(59,357)
113,190
Total tax charge
13,620
276,063

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(320,232)
(97,735)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(80,058)
(24,434)
Tax effect of expenses that are not deductible in determining taxable profit
2,870
1,709
Effect of change in corporation tax rate
(17,202)
(2,638)
Permanent capital allowances in excess of depreciation
(2,763)
4,453
Other non-reversing timing differences
5,751
11,193
Other permanent differences
26
-
0
Under/(over) provided in prior years
(83,850)
1,520
Deferred tax adjustments in respect of prior years
(9,842)
2,750
Tax at marginal rate
(32)
-
0
Dividend income
-
(50,000)
Short term timing differences
4,594
(302)
Effect of elimination of inter company items
194,126
331,812
Taxation charge
13,620
276,063

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2025
2024
£
£
Deferred tax arising on:
Revaluation of property
(15,157)
232,718
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 30 -
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 May 2024
4,768,326
Additions
4,200
At 30 April 2025
4,772,526
Amortisation and impairment
At 1 May 2024
466,985
Amortisation charged for the year
476,506
At 30 April 2025
943,491
Carrying amount
At 30 April 2025
3,829,035
At 30 April 2024
4,301,341
The company had no intangible fixed assets at 30 April 2025 or 30 April 2024.
12
Tangible fixed assets
Group
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 May 2024
1,291,999
2,083,607
54,202
66,613
106,410
3,602,831
Additions
-
0
6,674
11,346
10,991
26,808
55,819
Disposals
-
0
(8,112)
(5,516)
-
0
(24,495)
(38,123)
At 30 April 2025
1,291,999
2,082,169
60,032
77,604
108,723
3,620,527
Depreciation and impairment
At 1 May 2024
35,284
1,324,620
48,894
62,754
47,340
1,518,892
Depreciation charged in the year
26,288
114,337
2,116
2,177
11,265
156,183
Eliminated in respect of disposals
-
0
-
0
(5,516)
-
0
(11,431)
(16,947)
At 30 April 2025
61,572
1,438,957
45,494
64,931
47,174
1,658,128
Carrying amount
At 30 April 2025
1,230,427
643,212
14,538
12,673
61,549
1,962,399
At 30 April 2024
1,256,715
758,987
5,308
3,859
59,070
2,083,939
The company had no tangible fixed assets at 30 April 2025 or 30 April 2024.
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
12
Tangible fixed assets
(Continued)
- 31 -

Tangible fixed assets with a carrying amount of £1,783,745 were revalued during the financial period ending 30 April 2024 using a third party valuation on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar assets.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Motor vehicles with a cost of £82,420 (2024 £82,420), accumulated depreciation of £65,934 (2024 £62,083), and carrying value of £16,486 (2024 £20,337).

Plant and equipment with a cost of £2,217,044 (2024 £2,220,595), accumulated depreciation of £2,093,250 (2024 £2,070,690), and carrying value of £123,794 (2024 £149,905).

Leasehold land and buildings with a cost of £1,073,810 (2024 £1,073,810), accumulated depreciation of £412,655 (2024 £391,179), and carrying value of £661,155 (2024 £682,631).

13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
102
102
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 May 2024 and 30 April 2025
102
Carrying amount
At 30 April 2025
102
At 30 April 2024
102
14
Subsidiaries

Details of the company's subsidiaries at 30 April 2025 are as follows:

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
14
Subsidiaries
(Continued)
- 32 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Arbury Stone Products Limited
England and Wales
Ordinary £1 shares
100.00
Arbury Electrical Services Ltd
England and Wales
Ordinary £1 shares
100.00
Arbury Precision Engineers Ltd
Engalnd and Wales
Ordinary £1 shares
100.00
Seeco (UK) Limited
England and Wales
Ordinary 'A' £1 shares and Ordinary £1 shares
100.00
Serene Stone Limited
England and Wales
Ordinary 'A', 'B', 'C', and 'D' shares, Ordinary £1 shares
100.00
Acegate (Manufacturing) Ltd
England and Wales
Ordinary £1 shares
100.00
Integral Electrical Services Limited
England and Wales
Ordinary £1 shares
100.00
15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
313,916
337,945
-
-
Work in progress
190,734
191,358
-
-
Finished goods and goods for resale
88,721
79,131
-
0
-
0
593,371
608,434
-
-
16
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,942,206
2,045,014
-
0
-
0
Unpaid share capital
100
100
-
0
-
0
Corporation tax recoverable
6,011
-
0
-
0
-
0
Amounts owed by group undertakings
-
-
5,653,253
5,826,954
Other debtors
623,355
711,177
531,832
666,633
Prepayments and accrued income
134,837
51,997
-
0
-
0
2,706,509
2,808,288
6,185,085
6,493,587
Deferred tax asset (note 23)
3,131
-
0
-
0
-
0
2,709,640
2,808,288
6,185,085
6,493,587
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 33 -
17
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Convertible loans
21
50,000
50,000
50,000
50,000
Bank loans
19
1,099,016
1,336,699
1,099,016
1,336,699
Obligations under finance leases
20
17,922
16,111
-
0
-
0
Trade creditors
1,535,473
1,146,588
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
1,070,475
777,597
Corporation tax payable
162,837
580,017
9,859
-
0
Other taxation and social security
364,058
387,885
-
-
Other creditors
2,483,265
2,736,894
23,887
-
0
Accruals and deferred income
148,653
96,319
10,000
4,999
5,861,224
6,350,513
2,263,237
2,169,295
18
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
19
3,863,421
4,829,754
3,863,421
4,829,754
Obligations under finance leases
20
30,159
22,097
-
0
-
0
3,893,580
4,851,851
3,863,421
4,829,754
Amounts included above which fall due after five years are as follows:
Payable by instalments
-
1,304,127
-
1,304,127
19
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
4,962,437
6,166,453
4,962,437
6,166,453
Payable within one year
1,099,016
1,336,699
1,099,016
1,336,699
Payable after one year
3,863,421
4,829,754
3,863,421
4,829,754

The long term loans relate to a loan with Close Brothers, secured over the assets of Arbury Hill Limited and its subsidiaries.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 34 -
20
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
17,921
16,110
-
0
-
0
In two to five years
30,160
22,098
-
0
-
0
48,081
38,208
-
-

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The lease terms are of variable length. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

21
Convertible loan notes
Group
Company
2025
2024
2025
2024
£
£
£
£
Liability component of convertible loan notes
50,000
50,000
50,000
50,000

The net proceeds received from the issue of the convertible loan notes have been split between the financial liability element and an equity component, representing the fair value of the embedded option to convert the financial liability into equity.

The liability component is measured at amortised cost, and the difference between the carrying amount of the liability at the date of issue and the amount reported in the Balance Sheet represents the effective interest rate less interest paid to that date.

22
Provisions for liabilities
Group
Company
2025
2024
2025
2024
£
£
£
£
22,476
21,800
-
-
Movements on provisions:
Group
£
At 1 May 2024
21,800
Other movements
676
At 30 April 2025
22,476
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 35 -
23
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Group
£
£
£
£
Accelerated capital allowances
148,047
175,858
(2,867)
-
Tax losses
-
-
5,998
-
Revaluations
222,392
232,717
-
-
Short term timing differences
(1,183)
2,231
-
-
369,256
410,806
3,131
-
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 May 2024
410,806
-
Credit to profit or loss
(44,681)
-
Liability at 30 April 2025
366,125
-

The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period. The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

24
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
68,060
86,023

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

25
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 36 -
26
Reserves
Share premium

The share premium reserve represents the amount received by the company over and above the nominal value of the shares issued.

Revaluation reserve

The revaluation reserve arises from the revaluation of property, plant and equipment to fair value. It represents the cumulative increase in the value of assets over their historical cost, net of any deferred tax where applicable.

27
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
292,071
363,054
-
-
Between two and five years
280,000
308,322
-
-
In over five years
116,667
186,667
-
-
688,738
858,043
-
-
28
Controlling party

Arbury Hill Limited is owned in the majority equally by two companies. These are Stringer-Bourne Limited whose registered office is 21a Villa Way, Wootton, Northamptonshire, NN 4 6JH and Primary Corporate Finance Limited whose registered office is Devonports Las Ltd, The Rivendell Centre, White Horse Lane, Maldon, Essex, CM9 5QP.

ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 37 -
29
Cash generated from/(absorbed by) group operations
2025
2024
£
£
Loss after taxation
(333,852)
(373,798)
Adjustments for:
Taxation charged
13,620
276,063
Finance costs
654,908
553,182
Investment income
(6,755)
(6,368)
Loss/(gain) on disposal of tangible fixed assets
15,486
(11,309)
Amortisation and impairment of intangible assets
476,506
372,011
Depreciation and impairment of tangible fixed assets
156,183
205,565
Increase in provisions
676
21,800
Movements in working capital:
Decrease in stocks
15,063
68,250
Decrease/(increase) in debtors
107,790
(1,517,160)
Increase in creditors
163,763
101,929
Cash generated from/(absorbed by) operations
1,263,388
(309,835)
30
Cash generated from/(absorbed by) operations - company
2025
2024
£
£
Profit after taxation
29,704
21,195
Adjustments for:
Taxation charged
9,859
-
0
Finance costs
628,845
364,425
Investment income
(927,067)
(705,915)
Disposal of subsidiary
-
(102)
Movements in working capital:
Decrease/(increase) in debtors
308,502
(6,493,587)
Increase in creditors
321,766
782,596
Cash generated from/(absorbed by) operations
371,609
(6,031,388)
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 38 -
31
Analysis of changes in net debt - group
1 May 2024
Cash flows
New finance leases
30 April 2025
£
£
£
£
Cash at bank and in hand
1,886,637
(1,099,572)
-
787,065
Borrowings excluding overdrafts
(6,166,453)
1,204,016
-
(4,962,437)
Obligations under finance leases
(38,208)
3,042
(12,915)
(48,081)
Convertible loan notes
(50,000)
-
-
(50,000)
(4,368,024)
107,486
(12,915)
(4,273,453)
32
Analysis of changes in net debt - company
1 May 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
623,203
(534,185)
89,018
Borrowings excluding overdrafts
(6,166,453)
1,204,016
(4,962,437)
Convertible loan notes
(50,000)
-
(50,000)
(5,593,250)
669,831
(4,923,419)
33
Prior period adjustment
Reconciliation of changes in equity - group
1 May
30 April
2023
2024
Notes
£
£
Adjustments to prior year
Deferred tax movement on revaluation
1
-
(343,138)
Equity as previously reported
(353,663)
396,807
Equity as adjusted
(353,663)
53,669
Analysis of the effect upon equity
Revaluation reserve
-
(315,692)
Profit and loss reserves
-
(27,446)
-
(343,138)
ARBURY HILL LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
33
Prior period adjustment
(Continued)
- 39 -
Reconciliation of changes in loss for the previous financial period
2024
Notes
£
Adjustments to prior year
Deferred tax movement on revaluation
1
(110,420)
Loss as previously reported
(263,378)
Loss as adjusted
(373,798)
Reconciliation of changes in equity - company
The prior period adjustments do not give rise to any effect upon equity.
Reconciliation of changes in profit for the previous financial period
2024
£
Adjustments to prior year
Total adjustments
-
Profit as previously reported
21,195
Profit as adjusted
21,195
Notes to reconciliation
Deferred tax movement on revaluation

A prior period adjustment has been included to correct the revaluation reserve and deferred tax movements for the fixed asset revaluation that took place in the period ending 30 April 2024. A transfer of the excess depreciation from the revaluation reserve to retained earnings has been included, to account for the difference in the depreciation charge between the cost value and the revalued amount.

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