REGISTERED NUMBER: 03709428 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2024 TO 31 JULY 2025

FOR

SKINNERS SHEDS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTOR:

D S White

SECRETARY:

Miss M A Fisher

REGISTERED OFFICE:

Bexhill Road

Ninfield

Bexhill on Sea

East Sussex

TN39 5JP

REGISTERED NUMBER:

03709428 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

The director presents his strategic report of the company and the group for the period 1 September 2024 to 31 July 2025.

REVIEW OF BUSINESS

The business has looked to maintain gross margin and prioritize quality which has resulted in an increase in gross profit and a marginal increase in turnover when factoring in the shortened current accounting period.

The following table shows the key performance indicators.

Gross Profit

ratios (% of

Period

Turnover

Gross Profit

turnover)

Net Profit/Loss

£

£

£

P.E 31.7.25

7,854,995

2,166,543

27.58%

191,020

Y.E 31.8.24

8,455,306

2,190,802

25.91%

376,173

PRINCIPAL RISKS AND UNCERTAINTIES

High rates of inflation have led to a downturn in consumer spending and increased supplier costs, as well as global developments putting increased pressure on supply chains. The company has mitigated these risks by offering a wide array of products for all consumer needs and maintaining strong relationships with European suppliers.

ON BEHALF OF THE BOARD:

D S White - Director

29 April 2026

The director presents his report with the financial statements of the company and the group for the period 1 September 2024 to 31 July 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the period under review was that of the manufacturing and sales of sheds and other outbuildings.

DIVIDENDS

The total distribution of dividends for the period ended 31 July 2025 will be £ 30,828 .

DIRECTOR

D S White held office during the whole of the period from 1 September 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D S White - Director

29 April 2026

Opinion

We have audited the financial statements of Skinners Sheds Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 July 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of 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 group's and of the parent company affairs as at 31 July 2025 and of the group's profit for the period 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

-	the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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

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

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

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

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

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

Based on our understanding of the Group and industry, we identified that the principal risks of

non-compliance with laws and regulations related to employment laws and we considered the extent to which

non-compliance might have a material effect on the financial statements.

We also considered those laws and regulations that have a direct impact on the preparation of the financial

statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for

fraudulent manipulation of the financial statements (including the risk of override of controls), and determined

that the principal risks were related to posting inappropriate journal entries to achieve desired financial results

and the manipulation of exceptional items and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

- enquiries with management, including consideration of known or suspected instances of fraud and

non-compliance with laws and regulations and examining supporting calculations where a provision has been

made in respect of these;

- reading key correspondence with regulatory authorities in relation to compliance with certain employment

laws;- understanding and evaluating the design and implementation of management's controls designed to

prevent and detect irregularities;

- challenging assumptions and judgements made by management in their significant accounting estimates, in

particular in relation to valuation of investment property, impairment of investments in subsidiaries and the

measurement and classification of exceptional items;

- identifying and testing journal entries, in particular any journal entries posted with unusual account

combinations and postings by unusual users

There are inherent limitations in the audit procedures described above 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 would become aware of it. Also, 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 or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Geoffrey David Slater (Senior Statutory Auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

29 April 2026

TURNOVER

7,854,995

8,455,306

Cost of sales

(5,688,451

)

(6,264,504

)

GROSS PROFIT

2,166,544

2,190,802

Administrative expenses

(2,026,364

)

(1,911,535

)

140,180

279,267

Other operating income

40,660

90,749

OPERATING PROFIT

4

180,840

370,016

Interest receivable and similar income

8,725

4,966

PROFIT BEFORE TAXATION

189,565

374,982

Tax on profit

5

(56,257

)

(177,571

)

PROFIT FOR THE FINANCIAL PERIOD

133,308

197,411

Profit attributable to:

Owners of the parent

133,308

197,411

PROFIT FOR THE PERIOD

133,308

197,411

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

133,308

197,411

Total comprehensive income attributable to:

Owners of the parent

133,308

197,411

FIXED ASSETS

Intangible assets

9

13,226

14,681

Tangible assets

10

4,111,246

4,351,159

Investments

11

-

-

Investment property

12

684,747

684,747

4,809,219

5,050,587

CURRENT ASSETS

Stocks

13

2,453,123

2,479,056

Debtors

14

66,425

202,121

Cash at bank and in hand

1,077,510

970,371

3,597,058

3,651,548

CREDITORS

Amounts falling due within one year

15

(1,606,930

)

(1,954,155

)

NET CURRENT ASSETS

1,990,128

1,697,393

TOTAL ASSETS LESS CURRENT LIABILITIES

6,799,347

6,747,980

PROVISIONS FOR LIABILITIES

17

(208,284

)

(259,397

)

NET ASSETS

6,591,063

6,488,583

CAPITAL AND RESERVES

Called up share capital

18

100

100

Revaluation reserve

19

568,918

577,655

Retained earnings

19

6,022,045

5,910,828

SHAREHOLDERS' FUNDS

6,591,063

6,488,583

The financial statements were approved by the director and authorised for issue on 29 April 2026 and were signed by:

D S White - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

3,661,246

3,901,159

Investments

11

465,971

465,971

Investment property

12

684,747

684,747

4,811,964

5,051,877

CURRENT ASSETS

Stocks

13

2,453,123

2,479,056

Debtors

14

66,325

202,021

Cash at bank and in hand

1,077,510

970,371

3,596,958

3,651,448

CREDITORS

Amounts falling due within one year

15

(1,606,929

)

(1,954,154

)

NET CURRENT ASSETS

1,990,029

1,697,294

TOTAL ASSETS LESS CURRENT LIABILITIES

6,801,993

6,749,171

PROVISIONS FOR LIABILITIES

17

(208,284

)

(259,397

)

NET ASSETS

6,593,709

6,489,774

CAPITAL AND RESERVES

Called up share capital

18

100

100

Revaluation reserve

19

568,918

577,655

Retained earnings

19

6,024,691

5,912,019

SHAREHOLDERS' FUNDS

6,593,709

6,489,774

Company's profit for the financial year

134,763

198,602

The financial statements were approved by the director and authorised for issue on 29 April 2026 and were signed by:

D S White - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 September 2023

100

5,755,023

577,655

6,332,778

Changes in equity

Dividends

-

(41,606

)

-

(41,606

)

Total comprehensive income

-

197,411

-

197,411

Balance at 31 August 2024

100

5,910,828

577,655

6,488,583

Changes in equity

Dividends

-

(30,828

)

-

(30,828

)

Total comprehensive income

-

142,045

(8,737

)

133,308

Balance at 31 July 2025

100

6,022,045

568,918

6,591,063

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 September 2023

100

5,755,023

577,655

6,332,778

Changes in equity

Total comprehensive income

-

198,602

-

198,602

Dividends

-

(41,606

)

-

(41,606

)

Balance at 31 August 2024

100

5,912,019

577,655

6,489,774

Changes in equity

Total comprehensive income

-

143,500

(8,737

)

134,763

Dividends

-

(30,828

)

-

(30,828

)

Balance at 31 July 2025

100

6,024,691

568,918

6,593,709

Cash flows from operating activities

Cash generated from operations

1

178,988

1,040,908

Tax paid

(33,106

)

(406,956

)

Net cash from operating activities

145,882

633,952

Cash flows from investing activities

Purchase of tangible fixed assets

(16,782

)

(166,357

)

Purchase of fixed asset investments

-

(465,971

)

Purchase of investment property

-

(684,747

)

Interest received

8,725

4,966

Net cash from investing activities

(8,057

)

(1,312,109

)

Cash flows from financing activities

Amount introduced by directors

15,501

-

Amount withdrawn by directors

(15,359

)

(11,318

)

Equity dividends paid

(30,828

)

(41,606

)

Net cash from financing activities

(30,686

)

(52,924

)

Increase/(decrease) in cash and cash equivalents

107,139

(731,081

)

Cash and cash equivalents at beginning of period

2

970,371

1,701,452

Cash and cash equivalents at end of period

2

1,077,510

970,371

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.9.24

to

Year Ended

31.7.25

31.8.24

£

£

Profit before taxation

189,565

374,982

Depreciation charges

258,150

242,438

Finance income

(8,725

)

(4,966

)

438,990

612,454

Decrease/(increase) in stocks

25,933

(23,922

)

Decrease in trade and other debtors

93,802

260,000

(Decrease)/increase in trade and other creditors

(379,737

)

192,376

Cash generated from operations

178,988

1,040,908

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 July 2025

31.7.25

1.9.24

£

£

Cash and cash equivalents

1,077,510

970,371

Year ended 31 August 2024

31.8.24

1.9.23

£

£

Cash and cash equivalents

970,371

1,701,452

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.24

Cash flow

At 31.7.25

£

£

£

Net cash

Cash at bank and in hand

970,371

107,139

1,077,510

970,371

107,139

1,077,510

Total

970,371

107,139

1,077,510

1.	STATUTORY INFORMATION

Skinners Sheds Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on cost

Short leasehold

-

20% on cost

Improvements to property

-

5% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

Period

1.9.24

to

Year Ended

31.7.25

31.8.24

£

£

Wages and salaries

3,011,793

3,192,457

Social security costs

307,815

303,865

Other pension costs

46,710

55,571

3,366,318

3,551,893

The average number of employees during the period was as follows:

Period

1.9.24

to

Year Ended

31.7.25

31.8.24

Directors

1

1

Administration

3

3

Delivery & installation

15

15

Sales

25

28

Manufacturing

59

63

103

110

Period

1.9.24

to

Year Ended

31.7.25

31.8.24

£

£

Director's remuneration

8,215

8,900