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Registration number: 01313718

Sugden Limited
Filleted Financial Statements
for the Year Ended 30 April 2025

Sugden Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 12

Sugden Limited

Company Information

Directors | Mr C Baldwin Mr P Ashworth Mr J Beattie Mrs P M Metcalfe

Registered office | Unit 6 Pendle Court Nelson Lancashire BB9 7BT

Auditors | Hargreaves Brown & Benson Chartered Accountants and Registered Auditor 1 Bond Street Colne Lancashire BB8 9DG

Sugden Limited

(Registration number: 01313718)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 354,946 | 570,466
Tangible assets | 5 | 305,276 | 296,572
|  | 660,222 | 867,038
Current assets |  |  |
Stocks | 6 | 456,022 | 1,514,304
Debtors | 7 | 6,053,391 | 5,218,697
Cash at bank and in hand |  | 659,930 | 690,532
|  | 7,169,343 | 7,423,533
Creditors: Amounts falling due within one year | 8 | (4,987,611) | (5,266,543)
Net current assets |  | 2,181,732 | 2,156,990
Total assets less current liabilities |  | 2,841,954 | 3,024,028
Creditors: Amounts falling due after more than one year | 8 | (13,133) | (213,000)
Provisions for liabilities |  | (51,470) | 3,657
Net assets |  | 2,777,351 | 2,814,685
Capital and reserves |  |  |
Called up share capital | 10 | 20,100 | 20,100
Retained earnings |  | 2,757,251 | 2,794,585
Shareholders' funds |  | 2,777,351 | 2,814,685

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:

......................................... Mr C Baldwin Director

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6
Pendle Court
Nelson
Lancashire
BB9 7BT

These financial statements were authorised for issue by the Board on 22 December 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency is considered to be Pounds Sterling because it is the operational currency of the primary economic environment in which the company operates.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 22 December 2025 was Steven Wood FCA, who signed for and on behalf of Hargreaves Brown & Benson.

Going concern

The financial statements have been prepared on a going concern basis.

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of Value Added Tax, returns, rebates and discounts.
Revenue from the sale of goods and provision of services is recognised when the significant risks and rewards of ownership are transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred, or to be incurred, in respect of the transactionscan be measured reliably.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.
Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated amortisation and accumulated impairment losses.
Intellectual property in the form of patents, trademarks and licences acquired are identified where there is an expectation that he cost of acquisition will generate future economic benefits which exceed one year are recognised as an intangible asset. Useful economic life has been assessed as the term of agreement under which royalties are payable in respect of the underlying intellectual property.
Internally generated development costs are identified where there is an expectation that these costs can be reliably measured and will generate future probable economic benefits which exceed one year are recognised as an intangible asset

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Development costs | Over 3 years
Patents, trademarks & intellectual property rights | Over 6 years

Tangible assets

Land and buildings held and used in the company's own activities for the production and supply of goods and services and for administrative purposes are stated in the Balance Sheet at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any subsequent accumulated depreciation or impairment losses. Revaluations are carried out regularly so that carrying amounts do not materially differ from their fair value at the Balance Sheet date.
Any revaluation increase or decrease on land and buildings is credited to the revaluation reserve included in reserves.
Other tangible assets are stated in the Balance Sheet at cost less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | 2% straight line per annum
Furniture, fittings and equipment | 15% reducing balance per annum
Motor vehicles | 25% reducing balance per annum

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors and other receivables are recognised initially at the transaction price less provision for impairment. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors and other payables are recognised at the original transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit And Loss Account as interest payable over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Non-interest bearing borrowings are recorded at fair value net of transaction costs and are are recognised at their original transaction cost.of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified, and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Recognition and measurement
Basic financial instruments, including trade and other receivables, cash and bank balances, and trade and other payables, are initially recognised at the transaction price.
Impairment
At the end of each accounting period, financial instruments are assessed for objective evidence of impairment. If the asset is impaired the impairment loss is recognised in the profit or loss for the accounting period.

Current versus non-current classification

Financial instruments are classified as current if there is no unconditional right, at the end of the reporting period, to defer settlement of the financial instrument for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 53 (2024 - 41).

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

4 | Intangible assets

| Trademarks, patents and licenses £ | Internally generated software development costs £ | Total £
Cost or valuation
At 1 May 2024 | 1,255,030 | 75,919 | 1,330,949
Disposals | - | (56,876) | (56,876)
At 30 April 2025 | 1,255,030 | 19,043 | 1,274,073
Amortisation
At 1 May 2024 | 697,239 | 63,244 | 760,483
Amortisation charge | 209,172 | 6,348 | 215,520
Amortisation eliminated on disposals | - | (56,876) | (56,876)
At 30 April 2025 | 906,411 | 12,716 | 919,127
Carrying amount
At 30 April 2025 | 348,619 | 6,327 | 354,946
At 30 April 2024 | 557,791 | 12,675 | 570,466

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

5 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 May 2024 | 96,723 | 447,529 | 158,540 | 702,792
Additions | 3,054 | 36,254 | 28,034 | 67,342
Disposals | - | - | (27,465) | (27,465)
At 30 April 2025 | 99,777 | 483,783 | 159,109 | 742,669
Depreciation
At 1 May 2024 | 4,708 | 264,743 | 136,769 | 406,220
Charge for the year | 5,211 | 46,317 | 5,842 | 57,370
Eliminated on disposal | - | - | (26,197) | (26,197)
At 30 April 2025 | 9,919 | 311,060 | 116,414 | 437,393
Carrying amount
At 30 April 2025 | 89,858 | 172,723 | 42,695 | 305,276
At 30 April 2024 | 92,015 | 182,786 | 21,771 | 296,572

Included within the net book value of land and buildings above is £53,193 (2024 - £54,349) in respect of freehold land and buildings and £36,665 (2024 - £37,666) in respect of long leasehold land and buildings.

6 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 60,438 | 140,673
Work in progress | 395,584 | 1,373,631
| 456,022 | 1,514,304

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

7 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 989,717 | 643,505
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 11 | 4,886,824 | 4,280,903
Prepayments |  | 153,805 | 121,835
Other debtors |  | 23,045 | 172,454
|  | 6,053,391 | 5,218,697
Less non-current portion |  | (4,886,824) | (4,280,903)
|  | 1,166,567 | 937,794

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 6,567 | 426,548
Trade creditors |  | 893,620 | 1,086,685
Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 149,904 | 544,879
Taxation and social security |  | 45,976 | 32,446
Accruals and deferred income |  | 3,876,292 | 3,169,340
Other creditors |  | 15,252 | 6,645
|  | 4,987,611 | 5,266,543

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 13,133 | 213,000

Creditors include bank loans which are secured of £0 (2024 - £383,400).
Bank borrowings are secured by fixed and floating charges over the assets of the company.

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 213,000
Hire purchase contracts | 13,133 | -
| 13,133 | 213,000

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 170,400
Hire purchase contracts | 6,567 | -
Other borrowings | - | 256,148
| 6,567 | 426,548

The hire purchase contracts are secured on the assets concerned.

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 20,100 | 20,100 | 20,100 | 20,100

Sugden Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

11 | Related party transactions

Summary of transactions with parent

Baldwin Engineering Group Limited
During the year the company advanced unsecured, interest-free loans to Baldwin Engineering Group Limited. At 30 April 2025 the amounts recoverable in respect of loans amounted to £3,893,090 (2024 - £3,901,947). There are no fixed terms for repayment and the loan is repayable on demand. During the year Sugden Limited issued a dividend of £196,000 (2024 - £250,000) to Baldwin Engineering Group Limited.
The bank borrowings of Baldwin Engineering Group Limited are secured on the assets of Baldwin Technical Services Limited and Sugden Limited by fixed and floating charges in an inter-company cross guarantee with Barclays Bank Plc created 27 March 2025. At 30 April 2025 the amounts secured on group assets amounted to £3,013,332.
At 30 April 2024 the bank borrowings of Baldwin Engineering Group Limited which were secured by fixed and floating charges with The Royal Bank of Scotland Plc amounted to £2,143,080.

Summary of transactions with other related parties

Subsidiary companies of Baldwin Engineering Group Limited.
During the year the company advanced unsecured loans to a fellow subsidiary, CFE Lighting Ltd. At 30 April 2025 the amounts recoverable in respect of loans amounted to £993,734 (2024 - £378,956) . There are no fixed terms for repayment and the loan is repayable on demand.

12 | Parent and ultimate parent undertaking

The company's immediate parent is Baldwin Engineering Group Limited, incorporated in England and Wales.
The largest and smallest group into which these financial statements are consolidated is Baldwin Engineering Group Limited. The consolidated financial statements of Baldwin Engineering Group Limited are available upon request from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.