Company registration number 00942199 (England and Wales)
SALAMANDER FABRICATIONS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
SALAMANDER FABRICATIONS LIMITED
COMPANY INFORMATION
Directors
Mr M Haskell
D McStrafick
Company number
00942199
Registered office
Salamander Works
Old Bank
Slaithwaite
Huddersfield
HD7 5HB
Auditor
Wheawill & Sudworth Limited
35 Westgate
Huddersfield
West Yorkshire
HD1 1PA
Bankers
National Westminster Bank plc
55 High Street
Uppermill
Oldham
OL3 6AP
SALAMANDER FABRICATIONS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
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 - 20
The following pages do not form part of the statutory financial statements
SALAMANDER FABRICATIONS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

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

Business review

The business achieved another satisfactory trading result despite challenging inflationary conditions.

Principal risks and uncertainties

The business remains exposed to a range of risk factors including the sourcing and pricing of materials, adequate supply of skilled labour and general economic and political uncertainties. These are managed through careful market and data analysis, sensible planning, maintaining close dialogue with customers and suppliers and early reaction to changes affecting the business.

Performance and developments during the year

The directors are continuing to pursue initiatives to increase turnover and improve the gross margin. Capital expenditure in the group is enhancing production efficiencies.

Financial instruments

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no material exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances the liquidity risk is managed by maintaining a balance between the effective use of cash reserves and maintenance of a working capital buffer. Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both length of time and credit limits. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Financial key performance indicators

A range of KPIs, including order intake, margin achievement, overhead control and collection of trade receivables will continue to be monitored as part of the ongoing management of the company's operations.

Outlook

Based on current data, the directors anticipate another profitable year during 202 5/2 6.

On behalf of the board

Mr M Haskell
Director
2 March 2026
SALAMANDER FABRICATIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

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

Principal activities

The principal activit ies of the company during the year were those of catering and laboratory equipment manufacturers and sheet metal workers.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £1,400,000. 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:

Mr M Haskell
D McStrafick
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.

On behalf of the board
Mr M Haskell
Director
2 March 2026
SALAMANDER FABRICATIONS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

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.

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.

SALAMANDER FABRICATIONS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SALAMANDER FABRICATIONS LIMITED
- 4 -
Opinion

We have audited the financial statements of Salamander Fabrications Limited (the 'company') for the year ended 30 September 2025 which comprise the profit and loss account, 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 September 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.

SALAMANDER FABRICATIONS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SALAMANDER FABRICATIONS LIMITED (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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with the framework;

Assessment of the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur;

Ensured whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations;

Gained clear understanding of the entity's current activities, the scope of its authorisation and confirmed the effectiveness of its control environment where the entity is a regulated entity;

SALAMANDER FABRICATIONS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SALAMANDER FABRICATIONS LIMITED (CONTINUED)
- 6 -

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- 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. 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.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

David Butterworth
Senior Statutory Auditor
For and on behalf of Wheawill & Sudworth Limited
2 March 2026
Chartered Accountants
Statutory Auditor
35 Westgate
Huddersfield
West Yorkshire
HD1 1PA
SALAMANDER FABRICATIONS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
6,796,261
5,966,503
Cost of sales
(4,295,565)
(3,985,598)
Gross profit
2,500,696
1,980,905
Administrative expenses
(1,469,536)
(1,367,705)
Operating profit
4
1,031,160
613,200
Interest receivable and similar income
7
21,433
12,785
Interest payable and similar expenses
8
(58,876)
(58,876)
Profit before taxation
993,717
567,109
Tax on profit
9
(219,654)
(1,060)
Profit for the financial year
774,063
566,049

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

SALAMANDER FABRICATIONS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
£
£
Profit for the year
774,063
566,049
Other comprehensive income
-
-
Total comprehensive income for the year
774,063
566,049
SALAMANDER FABRICATIONS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
11
379,852
444,598
Debtors
12
3,945,525
3,449,324
Cash at bank and in hand
1,917,848
1,257,469
6,243,225
5,151,391
Creditors: amounts falling due within one year
13
(3,370,870)
(1,653,099)
Net current assets
2,872,355
3,498,292
Capital and reserves
Called up share capital
15
3,000
3,000
Profit and loss reserves
2,869,355
3,495,292
Total equity
2,872,355
3,498,292

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 2 March 2026 and are signed on its behalf by:
Mr M Haskell
Director
Company registration number 00942199 (England and Wales)
SALAMANDER FABRICATIONS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2023
3,000
2,929,243
2,932,243
Year ended 30 September 2024:
Profit and total comprehensive income
-
566,049
566,049
Balance at 30 September 2024
3,000
3,495,292
3,498,292
Year ended 30 September 2025:
Profit and total comprehensive income
-
774,063
774,063
Dividends
10
-
(1,400,000)
(1,400,000)
Balance at 30 September 2025
3,000
2,869,355
2,872,355
SALAMANDER FABRICATIONS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
17
2,211,000
758,808
Interest paid
(58,876)
(58,876)
Corporation tax paid
(93,178)
(73,108)
Net cash inflow from operating activities
2,058,946
626,824
Investing activities
Provision of loans
(20,000)
-
0
Interest received
21,433
12,785
Net cash generated from investing activities
1,433
12,785
Financing activities
Dividends paid
(1,400,000)
-
0
Net cash used in financing activities
(1,400,000)
-
Net increase in cash and cash equivalents
660,379
639,609
Cash and cash equivalents at beginning of year
1,257,469
617,860
Cash and cash equivalents at end of year
1,917,848
1,257,469
SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
1
Accounting policies
Company information

Salamander Fabrications Limited is a private company limited by shares incorporated in England and Wales. The registered office is Salamander Works, Old Bank, Slaithwaite, Huddersfield, HD7 5HB.

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
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
Revenue

Turnover is measured at the fair value of the consideration received or receivable for ggods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on dispatch of the goods); 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 transactions can be measured reliably.

1.4
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.

1.5
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.

SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.6
Financial instruments

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

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include 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 method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company 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 company after deducting all of its liabilities.

SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 14 -
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. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 s ubsequently 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 company’s contractual obligations expire or are discharged or cancelled.

1.7
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.

1.8
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.

SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.9
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.

1.10
Retirement benefits

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

1.11
Leases
As lessee

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.

2
Judgements and key sources of estimation uncertainty

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of goods
6,796,261
5,966,503
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
6,796,261
5,966,503
2025
2024
£
£
Other revenue
Interest income
21,433
12,785
SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 16 -
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
11,500
10,500
Operating lease charges
98,114
89,000
5
Employees

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

2025
2024
Number
Number
Production staff
47
48
Administrative staff
9
10
Management staff
1
2
Sales staff
2
2
Total
59
62

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,368,071
2,276,605
Social security costs
227,953
194,984
Pension costs
74,220
70,003
2,670,244
2,541,592
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
182,797
163,469
Company pension contributions to defined contribution schemes
22,035
22,475
204,832
185,944

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 17 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
21,433
12,785
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
21,433
12,785
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost
Other interest on financial liabilities
58,876
58,876
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
219,654
93,178
Adjustments in respect of prior periods
-
0
(92,118)
Total current tax
219,654
1,060

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
993,717
567,109
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
248,429
141,777
Tax effect of expenses that are not deductible in determining taxable profit
1,648
(135)
Effect of R&D expenditure
(30,423)
(140,582)
Taxation charge for the year
219,654
1,060
SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
10
Dividends
2025
2024
£
£
Final paid
1,400,000
-
0
11
Stocks
2025
2024
£
£
Raw materials and consumables
257,817
275,163
Work in progress
105,994
151,653
Finished goods and goods for resale
16,041
17,782
379,852
444,598
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,686,108
1,257,992
Amounts owed by group undertakings
2,151,848
2,124,970
Other debtors
20,849
1,828
Prepayments and accrued income
86,720
64,534
3,945,525
3,449,324
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
467,167
377,595
Amounts owed to group undertakings
1,400,000
-
0
Corporation tax
219,654
93,178
Other taxation and social security
355,752
276,293
Other creditors
594,680
591,632
Accruals and deferred income
333,617
314,401
3,370,870
1,653,099
SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
14
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
74,220
70,003

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.

15
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,000
3,000
3,000
3,000
16
Related party transactions

Included in debtors is a loan of £2,151,848 (2024: £2,124,970) owed by Salamander Haskell Limited, a fellow subsidiary of Salamander Haskell Holdings Limited.

Included in other debtors is a loan of £107 (2024: £232) owed by M & M Haskell Limited, and £80 (2024: £nil) owed by Haskell Properties Limited, companies controlled by a director. These loans are unsecured, repayable on demand, and currently interest free.

Also included in other debtors is a loan of £20,000 (2024: £nil) owed by a director. This loan was unsecured and was repaid during December 2025.

Included in creditors is a loan of £1,400,000 (2024: £nil) owing to the parent company, Salamander Haskell Holdings Limited. This loan is unsecured, repayable on demand, and currently interest free.

Included in other creditors is a loan of £588,763 (2024: £588,763) owing to a director. This loan is unsecured, repayable on demand, and bears interest at 10% per annum.

The company is a wholly owned subsidiary of Salamander Haskell Holdings Limited, a company incorporated in England and Wales. The ultimate controlling party of the company is M Haskell.

SALAMANDER FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 20 -
17
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
774,063
566,049
Adjustments for:
Taxation charged
219,654
1,060
Finance costs
58,876
58,876
Investment income
(21,433)
(12,785)
Movements in working capital:
Decrease/(increase) in stocks
64,746
(32,493)
(Increase)/decrease in debtors
(476,201)
101,382
Increase in creditors
1,591,295
76,719
Cash generated from operations
2,211,000
758,808
18
Analysis of changes in net funds
1 October 2024
Cash flows
30 September 2025
£
£
£
Cash at bank and in hand
1,257,469
660,379
1,917,848
2025-09-30 2024-10-01 false false false CCH Software CCH Accounts Production 2025.300 Mr M Haskell D McStrafick 00942199 2024-10-01 2025-09-30 00942199 bus:Director1 2024-10-01 2025-09-30 00942199 bus:Director2 2024-10-01 2025-09-30 00942199 bus:RegisteredOffice 2024-10-01 2025-09-30 00942199 bus:Agent1 2024-10-01 2025-09-30 00942199 2025-09-30 00942199 2023-10-01 2024-09-30 00942199 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 00942199 core:RetainedEarningsAccumulatedLosses 2024-10-01 2025-09-30 00942199 2024-09-30 00942199 core:CurrentFinancialInstruments 2025-09-30 00942199 core:CurrentFinancialInstruments 2024-09-30 00942199 core:ShareCapital 2025-09-30 00942199 core:ShareCapital 2024-09-30 00942199 core:RetainedEarningsAccumulatedLosses 2025-09-30 00942199 core:RetainedEarningsAccumulatedLosses 2024-09-30 00942199 core:ShareCapital 2023-09-30 00942199 core:RetainedEarningsAccumulatedLosses 2023-09-30 00942199 core:ShareCapitalOrdinaryShareClass1 2025-09-30 00942199 core:ShareCapitalOrdinaryShareClass1 2024-09-30 00942199 2024-09-30 00942199 2023-09-30 00942199 core:UKTax 2024-10-01 2025-09-30 00942199 core:UKTax 2023-10-01 2024-09-30 00942199 1 2024-10-01 2025-09-30 00942199 1 2023-10-01 2024-09-30 00942199 bus:OrdinaryShareClass1 2024-10-01 2025-09-30 00942199 bus:OrdinaryShareClass1 2025-09-30 00942199 bus:OrdinaryShareClass1 2024-09-30 00942199 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 00942199 bus:FRS102 2024-10-01 2025-09-30 00942199 bus:Audited 2024-10-01 2025-09-30 00942199 bus:FullAccounts 2024-10-01 2025-09-30 xbrli:pure xbrli:shares iso4217:GBP