Company registration number 02089946 (England and Wales)
TYNE INSULATION SUPPLIES LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
TYNE INSULATION SUPPLIES LTD
COMPANY INFORMATION
Directors
D McKenna
Mrs K McKenna
Secretary
Mrs K McKenna
Company number
02089946
Registered office
Unit 21 Orion Way
Orion Business Park
North Shields
Tyne And Wear
United Kingdom
NE29 7SN
Auditor
Azets Audit Services
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS
TYNE INSULATION SUPPLIES LTD
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 23
TYNE INSULATION SUPPLIES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

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

Review of the business

Tyne Insulation Supplies Limited had an improved trading year, with results showing an increase on the previous year.

Turnover for the year is up by 18% (2024: decrease of 12%) with operating profit down by 10.6%.

The balance sheet has fallen slightly, with net assets at the financial year end decreasing to 9.7m (2024: 10.3m).

The company will continue to control costs, whilst at the same time targeting new profitable business from creditworthy customers.

Principal risks and uncertainties

The company's activities expose it to a number of financial risks including cash flow risk, credit risk and price risk.

Cash flow risk

The liquidity of the company is monitored by the directors, who ensure that the company has sufficient working capital.

Credit Risk

The company's credit risk is primarily attributable to its trade customers. The company has no significant concentration of credit risk, with exposure being spread over a large number of customers. All risks are reduced by the company with the management of financial credit limits and creditworthiness procedures.

Price Risk

The company is exposed to risk due to product price fluctuations, and increased competition. The directors manage price risk on an ongoing basis by continually monitoring prices to ensure that we remain competitive. The insulation market continues to grow due to long term increases in overall demand, and the outlook remains positive.

Key performance indicators

The directors consider the key performance indicators (KPI's) to be turnover, operating profit and net assets, which based on continuing operations are the most effective measure of progress towards achieving the company's objectives.

| 2025 | 2024
Turnover | £15,998,326 | £13,575,268
Operating Profit | £862,802 | £965,092
Net Assets | £9,727,034 | £10,270,688

On behalf of the board

D McKenna
Director
5 March 2026
TYNE INSULATION SUPPLIES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

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

Principal activities

The principal activity of the company continued to be that of supply of insulation and associated materials to the construction industry.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £250,000. The directors do not recommend payment of a final dividend.

Directors

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

D McKenna
Mrs K McKenna
N Topping
(Resigned 28 November 2024)
Financial instruments

The company does not actively use financial instruments as part of its financial risk management. It has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are only conducted in sterling. The company does not enter into any hedging transactions.

Research and development

The company will continue to look at new products in markets associated with our business. The company intends to continue with the research and development required to bring new products to market, which will improve our overall profitability over the short to medium term.

Future developments

The directors anticipate the business environment will remain competitive. They believe that the company is in a good financial position and remain confident that the company will continue to grow.

Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services Limited be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

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 company and of the profit or loss of the company 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; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

TYNE INSULATION SUPPLIES LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 company’s auditor 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 company’s auditor 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
D McKenna
Director
5 March 2026
TYNE INSULATION SUPPLIES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TYNE INSULATION SUPPLIES LTD
- 4 -
Opinion

We have audited the financial statements of Tyne Insulation Supplies Ltd (the 'company') for the year ended 30 June 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the 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 the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit 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 opinion

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 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 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 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.

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.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the 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.

TYNE INSULATION SUPPLIES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TYNE INSULATION SUPPLIES LTD (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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:

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

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

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

- we have not received all the information and explanations we require for our audit.

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 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 company or to cease operations, or have no realistic alternative but to do so.

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.

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.

TYNE INSULATION SUPPLIES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TYNE INSULATION SUPPLIES LTD (CONTINUED)
- 6 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the field in which the company operates, we identified the following area as the most likely to have a material impact on the financial statements: compliance with the UK Companies Act.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. The primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the company and its management.

Use of our report

This report is made solely to the 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 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

TYNE INSULATION SUPPLIES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TYNE INSULATION SUPPLIES LTD (CONTINUED)
- 7 -
Joanne Regan FCA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS
5 March 2026
TYNE INSULATION SUPPLIES LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
15,998,326
13,575,268
Cost of sales
(11,868,470)
(9,881,036)
Gross profit
4,129,856
3,694,232
Administrative expenses
(3,311,806)
(2,776,726)
Other operating income
44,752
47,586
Operating profit
4
862,802
965,092
Interest receivable and similar income
7
140,018
185,880
Profit before taxation
1,002,820
1,150,972
Tax on profit
8
(296,474)
(290,847)
Profit for the financial year
706,346
860,125

The profit and loss account has been prepared on the basis that all operations are continuing operations.

TYNE INSULATION SUPPLIES LTD
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
5,426,561
5,022,445
Current assets
Stocks
11
1,269,356
1,306,529
Debtors
13
3,385,998
3,111,926
Cash at bank and in hand
3,049,089
3,768,534
7,704,443
8,186,989
Creditors: amounts falling due within one year
14
(3,093,674)
(2,778,915)
Net current assets
4,610,769
5,408,074
Total assets less current liabilities
10,037,330
10,430,519
Provisions for liabilities
Deferred tax liability
15
310,296
159,831
(310,296)
(159,831)
Net assets
9,727,034
10,270,688
Capital and reserves
Called up share capital
18
900
1,000
Capital redemption reserve
19
100
-
0
Profit and loss reserves
20
9,726,034
10,269,688
Total equity
9,727,034
10,270,688

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

The financial statements were approved by the board of directors and authorised for issue on 5 March 2026 and are signed on its behalf by:
D McKenna
Director
Company registration number 02089946 (England and Wales)
TYNE INSULATION SUPPLIES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2023
1,000
-
0
9,649,563
9,650,563
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
860,125
860,125
Dividends
9
-
-
(240,000)
(240,000)
Balance at 30 June 2024
1,000
-
0
10,269,688
10,270,688
Year ended 30 June 2025:
Profit and total comprehensive income
-
-
706,346
706,346
Dividends
9
-
-
(250,000)
(250,000)
Own shares acquired
-
-
(1,000,000)
(1,000,000)
Redemption of shares
18
(100)
100
-
0
-
0
Balance at 30 June 2025
900
100
9,726,034
9,727,034
TYNE INSULATION SUPPLIES LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
1,439,406
925,073
Income taxes paid
(290,291)
(45,646)
Net cash inflow from operating activities
1,149,115
879,427
Investing activities
Purchase of tangible fixed assets
(794,676)
(398,376)
Proceeds on disposal of tangible fixed assets
26,098
37,248
Loan repayments/(advances)
(50,000)
(62,000)
Interest received
140,018
185,880
Net cash used in investing activities
(678,560)
(237,248)
Financing activities
Company repurchase of shares
(1,000,000)
-
0
Dividends paid
(190,000)
(180,000)
Net cash used in financing activities
(1,190,000)
(180,000)
Net (decrease)/increase in cash and cash equivalents
(719,445)
462,179
Cash and cash equivalents at beginning of year
3,768,534
3,306,355
Cash and cash equivalents at end of year
3,049,089
3,768,534
TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
1
Accounting policies
Company information

Tyne Insulation Supplies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 21 Orion Way, Orion Business Park, North Shields, Tyne And Wear, United Kingdom, NE29 7SN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
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:

Freehold land and buildings
2% on cost
Leasehold land and buildings
2% on cost
Plant and equipment
15% on reducing balance on assets purchased up to 30 June 2007 and 15% on cost on assets purchased on or after 1 July 2007
Computers
25% on cost
Motor vehicles
25% on cost

Freehold land is not depreciated.

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

TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 13 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

1.6
Stocks

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

Cost is calculated using the first in first out method

1.7
Cash and cash equivalents

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

1.8
Financial instruments

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

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction. Financial assets classified as receivable within one year are not amortised.

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.

Classification of financial liabilities

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

TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 14 -
Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

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

1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the 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 company’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 when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

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

1.12
Retirement benefits

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

1.13
Leases

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

TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 15 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. In the directors' opinion, no such judgements or estimates exist.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Sale of goods
15,998,326
13,575,268
2025
2024
£
£
Other revenue
Interest income
140,018
185,880
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
11,185
10,690
Depreciation of owned tangible fixed assets
361,700
294,261
Loss on disposal of tangible fixed assets
2,762
9,474
Operating lease charges
64,686
64,497
5
Employees

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

2025
2024
Number
Number
Staff
24
22
Directors
2
3
Total
26
25
TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
5
Employees
(Continued)
- 16 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,333,178
1,201,667
Social security costs
133,090
117,281
Pension costs
261,214
175,971
1,727,482
1,494,919
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
187,593
250,118
Company pension contributions to defined contribution schemes
241,500
158,500
429,093
408,618

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 3).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
n/a
120,000

As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
140,018
185,880
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
140,018
185,880
TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 17 -
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
146,009
290,291
Deferred tax
Origination and reversal of timing differences
150,465
556
Total tax charge
296,474
290,847

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

2025
2024
£
£
Profit before taxation
1,002,820
1,150,972
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
250,705
287,743
Tax effect of expenses that are not deductible in determining taxable profit
4,547
3,104
Depreciation on assets not qualifying for tax allowances
41,222
-
0
Taxation charge for the year
296,474
290,847
9
Dividends
2025
2024
£
£
Interim paid
250,000
240,000
TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 18 -
10
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 July 2024
3,385,139
1,536,847
764,242
45,342
971,463
6,703,033
Additions
-
0
-
0
662,450
15,678
116,548
794,676
Disposals
-
0
-
0
(173,051)
(1,685)
(50,041)
(224,777)
At 30 June 2025
3,385,139
1,536,847
1,253,641
59,335
1,037,970
7,272,932
Depreciation and impairment
At 1 July 2024
437,196
84,962
529,642
37,279
591,509
1,680,588
Depreciation charged in the year
54,176
30,737
133,544
5,383
137,860
361,700
Eliminated in respect of disposals
-
0
-
0
(170,622)
(1,673)
(23,622)
(195,917)
At 30 June 2025
491,372
115,699
492,564
40,989
705,747
1,846,371
Carrying amount
At 30 June 2025
2,893,767
1,421,148
761,077
18,346
332,223
5,426,561
At 30 June 2024
2,947,943
1,451,885
234,600
8,063
379,954
5,022,445

The carrying value of land and buildings comprises:

2025
2024
£
£
Freehold land
676,340
676,340
11
Stocks
2025
2024
£
£
Raw materials and consumables
1,269,356
1,306,529
12
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
5,643,749
6,271,049
Carrying amount of financial liabilities
Measured at amortised cost
2,708,588
2,285,126
TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 19 -
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,594,660
2,249,159
Other debtors
-
0
253,356
Prepayments and accrued income
791,338
609,411
3,385,998
3,111,926
14
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,607,269
2,194,316
Corporation tax
155,734
300,016
Other taxation and social security
229,352
193,773
Other creditors
3,270
3,452
Accruals and deferred income
98,049
87,358
3,093,674
2,778,915
15
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
311,671
159,831
Retirement benefit obligations
(1,375)
-
310,296
159,831
2025
Movements in the year:
£
Liability at 1 July 2024
159,831
Charge to profit or loss
150,465
Liability at 30 June 2025
310,296

D eferred tax of £79,000 is expected to reverse in the next year and relates to accelerated capital allowances that are expected to mature within the same period.

TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 20 -
16
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
261,214
175,971

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

17
Share-based payment transactions

On 6 October 2016, under an Enterprise Management Incentives (EMI) scheme, the company granted an option to 1 employee to subscribe for 125 ‘B’ ordinary share of £1 in total. The option is exercisable on the happening of an Exercise Event, but lapses on the tenth anniversary of the grant of the option, or on the employee ceasing employment with the company, if earlier. There are no performance requirements or qualification criteria for the exercise of the option. There have been no lapses, cancellations or exercises during the year.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
''A' Ordinary of £1 each
600
600
600
600
''C' Ordinary of £1 each
0
100
-
0
100
''D' Ordinary of £1 each
300
300
300
300
900
1,000
900
1,000

A, C and D ordinary shares all have voting rights and a right to both dividend and income distributions.

19
Capital redemption reserve
2025
2024
£
£
At the beginning of the year
-
0
-
0
Transfers
100
-
At the end of the year
100
-
0

On 28 November 2024, the company bought back 100 £1 Ordinary C shares for consideration of £1,000,000.

TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 21 -
20
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
10,269,688
9,649,563
Adjusted balance
10,269,688
9,649,563
Profit for the year
706,346
860,125
Dividends declared and paid in the year
(250,000)
(240,000)
Own shares acquired
(1,000,000)
-
0
At the end of the year
9,726,034
10,269,688
TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 22 -
21
Operating lease commitments
As lessee

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

2025
2024
£
£
Within 1 year
57,500
57,500
Years 2-5
253,958
23,958
311,458
81,458
22
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
-
365,034
23
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Dividends declared
Property rental
2025
2024
2025
2024
£
£
£
£
Other related parties
190,000
180,000
57,500
57,500
24
Directors' transactions

Dividends totalling £60,000 (2024 - £60,000) were paid in the year in respect of shares held by the company's directors.

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan
-
10,000
50,000
(60,000)
-
10,000
50,000
(60,000)
-
TYNE INSULATION SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 23 -
25
Cash generated from operations
2025
2024
£
£
Profit after taxation
706,346
860,125
Adjustments for:
Taxation charged
296,474
290,847
Investment income
(140,018)
(185,880)
Loss on disposal of tangible fixed assets
2,762
9,474
Depreciation and impairment of tangible fixed assets
361,700
294,261
Movements in working capital:
Decrease/(increase) in stocks
37,173
(79,150)
(Increase)/decrease in debtors
(284,072)
232,746
Increase/(decrease) in creditors
459,041
(497,350)
Cash generated from operations
1,439,406
925,073
26
Analysis of changes in net funds
1 July 2024
Cash flows
30 June 2025
£
£
£
Cash at bank and in hand
3,768,534
(719,445)
3,049,089
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