Company registration number 05903424 (England and Wales)
CROWTHER & SHAW LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
CROWTHER & SHAW LIMITED
COMPANY INFORMATION
Directors
Mr M R Gledhill
Mr R S Cowgill
A L Gledhill
Mr E A Gledhill
(Appointed 21 June 2025)
Company number
05903424
Registered office
Unit 23
Ringway Centre
Beck Road
Huddersfield
HD1 5DG
Auditor
Wheawill & Sudworth Limited
Chartered Accountants
35 Westgate
Huddersfield
West Yorkshire
HD1 1PA
Bankers
Handelsbanken
12 Longbow Close
Pennine Business Park
Bradley
Huddersfield
HD2 1GQ
CROWTHER & SHAW LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 19
The following pages do not form part of the statutory financial statements
CROWTHER & SHAW LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 1 -

The directors present the strategic report for the year ended 31 October 2025.

Principal activities

The principal activity of the company during the year was that of commercial refrigeration and air conditioning engineers.

Review of the business

We are pleased to report another profitable year of operations.

The company saw a reduction in turnover due to delays with various installations and subdued customer demand in certain sectors.

Core KPI's monitored by the management team cover order intake, margin achievement, cash collection and customer satisfaction.

Principal risks and uncertainties

Risks to the business in the coming period include government policies increasing employment costs and the knock on effect of a reduction in investment in our sector.

Should any of our larger clients reduce their spend with us this would have a negative impact on our growth although the company does spread its work across a wide marketplace so a major impact would not be expected.

Outlook

The outlook for the coming year appears generally restrained caused by UK government anti-growth policies and global economic and political uncertainties.

In this climate we will continue to adopt a careful and considered approach in running the company's operations and enhancing shareholder value.

On behalf of the board

Mr M R Gledhill
Director
17 April 2026
CROWTHER & SHAW LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 October 2025.

Results and dividends

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

Particulars of recommended dividends are detailed in note 10 to the financial statements.

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 R Gledhill
Mr R S Cowgill
A L Gledhill
Mr E A Gledhill
(Appointed 21 June 2025)
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.

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

Each of the persons who is a director at the date of approval of this report confirms that:

• so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and

• they have taken all steps that they ought to have taken as a director to make themselves aware of any 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 small companies exemption.

CROWTHER & SHAW LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -
On behalf of the board
Mr M R Gledhill
Director
17 April 2026
CROWTHER & SHAW LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CROWTHER & SHAW LIMITED
- 4 -
Opinion

We have audited the financial statements of Crowther & Shaw Limited (the 'company') for the year ended 31 October 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 31 October 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.

CROWTHER & SHAW LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CROWTHER & SHAW 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:

We focused on laws and regulations that could give rise to a material misstatement in the financial statements. Our tests included, but were not limited to:

- agreement of the financial statement disclosures to underlying supporting documentation;

- enquiries of management regarding known or suspected instances of non-compliance with laws and regulations;

- review of minutes of the Directors's Board meetings throughout the year; and

- obtaining an understanding of the control environment in place to prevent and detect irregularities.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

CROWTHER & SHAW LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CROWTHER & SHAW LIMITED (CONTINUED)
- 6 -

As part of an audit in accordance with ISAs (UK), we exercise professional judgment 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.

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.

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
17 April 2026
Chartered Accountants
Statutory Auditor
35 Westgate
Huddersfield
West Yorkshire
HD1 1PA
CROWTHER & SHAW LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
11,807,164
13,478,179
Cost of sales
(9,047,990)
(10,367,889)
Gross profit
2,759,174
3,110,290
Distribution costs
(324,995)
(292,554)
Administrative expenses
(1,677,655)
(1,549,644)
Operating profit
4
756,524
1,268,092
Interest receivable and similar income
7
27,744
40,532
Other gains and losses
8
125,390
62,936
Profit before taxation
909,658
1,371,560
Tax on profit
9
(230,900)
(346,630)
Profit for the financial year
678,758
1,024,930

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

CROWTHER & SHAW LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
82,504
75,035
Current assets
Stocks
13
65,032
61,644
Debtors
15
2,707,124
3,686,043
Investments
14
1,218,950
935,354
Cash at bank and in hand
1,983,924
1,984,211
5,975,030
6,667,252
Creditors: amounts falling due within one year
16
(1,449,636)
(2,747,785)
Net current assets
4,525,394
3,919,467
Total assets less current liabilities
4,607,898
3,994,502
Provisions for liabilities
Deferred tax liability
17
56,837
22,199
(56,837)
(22,199)
Net assets
4,551,061
3,972,303
Capital and reserves
Called up share capital
19
50,000
50,000
Revaluation reserve
157,615
63,730
Profit and loss reserves
4,343,446
3,858,573
Total equity
4,551,061
3,972,303

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 17 April 2026 and are signed on its behalf by:
Mr M R Gledhill
Director
Company registration number 05903424 (England and Wales)
CROWTHER & SHAW LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 9 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 November 2023
50,000
10,435
3,186,938
3,247,373
Year ended 31 October 2024:
Profit
-
-
1,024,930
1,024,930
Other comprehensive income:
Tax relating to other comprehensive income
-
(9,545)
9,545
-
Total comprehensive income
-
(9,545)
1,034,475
1,024,930
Dividends
10
-
-
(300,000)
(300,000)
Other movements
-
62,840
(62,840)
-
Balance at 31 October 2024
50,000
63,730
3,858,573
3,972,303
Year ended 31 October 2025:
Profit
-
-
678,758
678,758
Other comprehensive income:
Tax relating to other comprehensive income
-
(31,347)
31,347
-
Total comprehensive income
-
(31,347)
710,105
678,758
Dividends
10
-
-
(100,000)
(100,000)
Other movements
-
125,232
(125,232)
-
Balance at 31 October 2025
50,000
157,615
4,343,446
4,551,061
CROWTHER & SHAW LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
762,278
1,181,302
Income taxes paid
(490,228)
(285,845)
Net cash inflow from operating activities
272,050
895,457
Investing activities
Purchase of tangible fixed assets
(41,875)
(16,967)
Purchase of investments
(142,935)
(59,600)
Proceeds from disposal of investments
1,000
1,000
Interest received
11,473
6,631
Net cash used in investing activities
(172,337)
(68,936)
Financing activities
Dividends paid
(100,000)
(300,000)
Net cash used in financing activities
(100,000)
(300,000)
Net (decrease)/increase in cash and cash equivalents
(287)
526,521
Cash and cash equivalents at beginning of year
1,984,211
1,457,690
Cash and cash equivalents at end of year
1,983,924
1,984,211
CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 11 -
1
Accounting policies
Company information

Crowther & Shaw Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 23, Ringway Centre, Beck Road, Huddersfield, HD1 5DG.

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, as modified by the revaluation of 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
Turnover

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

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

1.4
Intangible fixed assets - goodwill

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

1.5
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:

Short leasehold property
Over the term of lease
Plant and machinery
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers equipment
25% straight line
Motor vehicles
25% reducing balance

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

CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 12 -
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.

1.7
Financial instruments
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.

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.

1.9
Retirement benefits

The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year.

1.10
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.

1.11

Investments

Investments are stated at market value.

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.

CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 13 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Rendering of services
11,948,280
13,478,179
Analysis per statutory database
11,948,280
13,478,179
Statutory database analysis does not agree to the trial balance by:
141,116
-
2025
2024
£
£
Other revenue
Interest income
11,473
6,631

The turnover was derived from the company's principal activity which was carried out wholly within the United Kingdom.

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
10,000
6,000
Depreciation of owned tangible fixed assets
34,406
33,731
Operating lease charges
330,635
294,333
5
Employees

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

2025
2024
Number
Number
Engineering
39
42
Sales
4
4
Directors and administrative
12
11
Total
55
57
CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
5
Employees
(Continued)
- 14 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,456,549
2,428,719
Social security costs
287,931
252,456
Pension costs
220,720
288,342
2,965,200
2,969,517
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
321,709
300,118
Company pension contributions to defined contribution schemes
138,752
210,028
460,461
510,146
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
169,909
143,792
Company pension contributions to defined contribution schemes
60,000
60,000
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
10,640
4,553
Other interest income
833
2,078
Total interest revenue
11,473
6,631
Income from fixed asset investments
Income from other fixed asset investments
16,271
33,901
Total income
27,744
40,532
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
10,640
4,553
CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 15 -
8
Other gains and losses
2025
2024
£
£
Gain on disposal of financial assets held at fair value through profit or loss
125,390
62,936
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
196,262
340,228
Deferred tax
Other adjustments
34,638
6,402
Total tax charge
230,900
346,630

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
909,658
1,371,560
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
227,415
342,890
Tax effect of expenses that are not deductible in determining taxable profit
6,287
16,734
Tax effect of income not taxable in determining taxable profit
(4,067)
(8,475)
Gains not taxable
39
-
0
Depreciation on assets not qualifying for tax allowances
1,226
1,265
Deferred tax adjustments in respect of prior years
-
0
(5,784)
Taxation charge for the year
230,900
346,630
10
Dividends
2025
2024
£
£
Final paid
100,000
300,000
CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 16 -
11
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2024 and 31 October 2025
5,000
Amortisation and impairment
At 1 November 2024 and 31 October 2025
5,000
Carrying amount
At 31 October 2025
-
0
At 31 October 2024
-
0
12
Tangible fixed assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Computers equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 November 2024
70,384
7,264
55,618
79,485
99,387
312,138
Additions
-
0
-
0
380
-
0
41,495
41,875
At 31 October 2025
70,384
7,264
55,998
79,485
140,882
354,013
Depreciation and impairment
At 1 November 2024
56,506
2,413
49,583
73,344
55,257
237,103
Depreciation charged in the year
7,240
1,213
1,604
2,943
21,406
34,406
At 31 October 2025
63,746
3,626
51,187
76,287
76,663
271,509
Carrying amount
At 31 October 2025
6,638
3,638
4,811
3,198
64,219
82,504
At 31 October 2024
13,878
4,851
6,035
6,141
44,130
75,035
13
Stocks
2025
2024
£
£
Raw materials and consumables
65,032
61,644
CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 17 -
14
Current asset investments
2025
2024
£
£
Other investments
1,218,950
935,354

Investments having a cost of £1,016,425 (2024: £858,061) are listed on a recognised stock exchange and had a market value of £1,218,950 (2024: £935,354).

15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,079,124
3,235,704
Other debtors
400,220
361,120
Prepayments and accrued income
227,780
89,219
2,707,124
3,686,043
16
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
828,518
1,776,554
Corporation tax
46,262
340,228
Other taxation and social security
32,555
60,199
Other creditors
-
0
333
Accruals and deferred income
542,301
570,471
1,449,636
2,747,785
17
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
19,427
16,334
Tax losses
(5,721)
(5,760)
Revaluations
50,631
19,323
Other timing differences
(7,500)
(7,698)
56,837
22,199
CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
17
Deferred taxation
(Continued)
- 18 -
2025
Movements in the year:
£
Liability at 1 November 2024
22,199
Charge to profit or loss
34,638
Liability at 31 October 2025
56,837

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
220,720
288,342

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.

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
50,000
50,000
50,000
50,000
20
Operating lease commitments
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 one year
303,877
294,811
Between two and five years
325,070
506,195
In over five years
-
0
13,217
628,947
814,223
CROWTHER & SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 19 -
21
Related party transactions

Included in debtors is a loan to Ream Estates Limited, a company under common control, amounting to £250,000 (2024: £250,000). The loan is unsecured, repayable on demand and currently interest free. During the year £75,000 (2024: £76,000) was paid in consultancy fees to Ream Estates Limited.

Included in debtors is a loan to Crowther & Shaw Mechanical Services Limited, a fellow subsidiary undertaking, amounting to £142,113 (2024: £nil). The loan is unsecured, repayable on demand and currently interest free.

22
Ultimate controlling party

The company is a wholly owned subsidiary of Crowther & Shaw Holdings Limited. This company is registered in England and is controlled by M R Gledhill.

23
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
678,758
1,024,930
Adjustments for:
Taxation charged
230,900
346,630
Investment income
(27,744)
(40,532)
Depreciation and impairment of tangible fixed assets
34,406
33,731
Other gains and losses
(125,390)
(62,936)
Movements in working capital:
(Increase)/decrease in stocks
(3,388)
94,498
Decrease/(increase) in debtors
978,919
(1,054,910)
(Decrease)/increase in creditors
(1,004,183)
839,891
Cash generated from operations
762,278
1,181,302
24
Analysis of changes in net funds
1 November 2024
Cash flows
31 October 2025
£
£
£
Cash at bank and in hand
1,984,211
(287)
1,983,924
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