Company registration number 01131910 (England and Wales)
D C NORRIS & COMPANY LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
D C NORRIS & COMPANY LTD
COMPANY INFORMATION
Directors
Mr I Jones
Mr D Norris
Mrs A Sapsed
(Appointed 1 February 2025)
Mr S Manson
(Appointed 1 March 2025)
Secretary
Mr D Norris
Company number
01131910
Registered office
Sand Road Industrial Estate
Sand Road
Great Gransden
Sandy
Beds
SG19 3AH
Auditor
TC Audit Limited
Suite 501
The Nexus Building
Broadway
Letchworth Garden City
Herts
SG6 3TA
Business address
Sand Road Industrial Estate
Sand Road
Great Gransden
Sandy
Beds
SG19 3AH
D C NORRIS & COMPANY LTD
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Profit and loss account
9
Group statement of comprehensive income
10
Group balance sheet
11
Company balance sheet
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 34
D C NORRIS & COMPANY LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

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

Review of the business

The principal activity of the group continues to be that of design, development, and production of equipment for the food processing, beverage, and confectionary as well as allied industries.

The group continues to invest in new equipment and technology as well as IT and infrastructure, as well as expanding head office footprint. This has improved efficiencies and therefore improved margins. The group starts 2025/26 with a strong order book. Enquiries remain at a very high level, and the group is expected to see further growth with many orders coming from overseas.

During the year, the group acquired AE Mixers Limited, a company based in the north of England. AE Mixers offer a comprehensive range of industrial mixers and mixing solutions throughout the food and beverage industry, this compliments and expands the groups range of products. The group are extending the head office site to accommodate the increasing work levels. The group continue to look for further opportunities to acquire other businesses to expand its offering.

The group has continued to develop new products and equipment and continues to invest in R&D projects which gives the group a platform to increase sales and profit.

BCH (Rochdale) Ltd are in the process of expanding their production facility to cope with the high demand for their equipment, the company is a market leader in the confectionary industry and are currently receiving significant orders for their equipment.

Gilwood Ltd is in the process of developing its own range of products that compliment both DCN & BCH equipment and solutions as they will be aimed at the Food Manufacturing Industry and can therefore be offered by sales teams in all locations.

D C Norris North America continues to grow, and the company intends to expand further to push forward in what is still seen as a largely untapped market for DCN/BCH technology and equipment solutions. There are several large potential contracts being worked on currently and the company has now started to manufacture some products in the USA.

Principal risks and uncertainties

Skills shortages and supply chain issues remain to be risks in the year under review. A strong recruitment drive continues and this is showing good results to date.

Financial risk management objectives and policies

Credit risk

Investment of cash surpluses and borrowings are made through banks approved by the directors. All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision made for bad debts where necessary.

Development and performance

Future developments

The directors are please with the current status of the group and feel positive about the future. The directors are continuously looking at other companies that may become available for acquisition both within the UK and elsewhere, and should such opportunities arise then the group is in a strong position to take advantage of these at the right price.

The group is always looking for new markets and is now looking at other sectors of the food processing market.

D C NORRIS & COMPANY LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
Key performance indicators

Financial key performance indicators

The financial key performance indicators with which the directors have measured the overall progress of the group are:-

- Growth in turnover, being the percentage increase in turnover from the previous year

- Growth in profit, being the percentage increase in profits before tax from the previous year

- Gross profit margin being the ratio of gross profits to sales expressed as a percentage

The following are the results of the key performance indicators:

2025 2024

Growth in turnover (4.1)% 2.2%

Growth in profit before tax (26.2)% (16.8)%

Gross profit margin 44.7% 45.9%

On behalf of the board

Mr D Norris
Director
11 May 2026
D C NORRIS & COMPANY LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -

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

Principal activities

The principal activity of the group continues to be that of design, development and production of equipment for the food processing and confectionary industry.

Results and dividends

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

Ordinary dividends of £100,000 (2024: £nil) were paid during the year. 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 I Jones
Mr D Norris
Mrs A Sapsed
(Appointed 1 February 2025)
Mr S Manson
(Appointed 1 March 2025)
Research and development

The company has an on-going research and development programme in order to continue producing high quality innovative equipment for resale. All costs associated with research and development activities are charged to the profit or loss in the period in which they occur.

Auditor

TC Audit Limited were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Energy and carbon report

As the group has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

Strategic report

The true group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the review of the business, principal risks and uncertainties and key performance indicators.

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 auditor of the company 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 auditor of the company is aware of that information.

D C NORRIS & COMPANY LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
On behalf of the board
Mr D Norris
Director
11 May 2026
D C NORRIS & COMPANY LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -

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

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

D C NORRIS & COMPANY LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF D C NORRIS & COMPANY LTD
- 6 -
Opinion

We have audited the financial statements of D C Norris & Company Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group 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 group's and the parent company's affairs as at 31 August 2025 and of the group's 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 group and parent 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 group's and 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 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' report 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.

D C NORRIS & COMPANY LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF D C NORRIS & COMPANY LTD
- 7 -
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 their 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 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 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 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 directors either intend to liquidate the parent 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.

Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the company, which were contrary to applicable laws and regulations including fraud, 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 manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition.

D C NORRIS & COMPANY LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF D C NORRIS & COMPANY LTD
- 8 -

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

- Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and

- Considering the risk of acts by the company which were contrary to the applicable laws and regulations, including fraud; and

- Enquiring of management as to actual and potential litigation and claims.

Our audit procedures in relation to fraud included but were not limited to:

- Discussing amongst the engagement team the risks of fraud;

- Making enquiries of management on whether they had knowledge of any actual, suspected or alleged fraud; and

- Gaining an understanding of the internal controls established to mitigate risks related to fraud; and

- Corroborating the basis for material accounting estimates; and

- Addressing the risks of fraud through management override of controls by performing substantive and analytical journal testing; and

- Obtaining support and reasonable explanation for any manual journal postings.

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 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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Peter Woodhall FCA (Senior Statutory Auditor)
For and on behalf of TC Audit Limited
15 May 2026
Statutory Auditor
Suite 501
The Nexus Building
Broadway
Letchworth Garden City
Herts
SG6 3TA
D C NORRIS & COMPANY LTD
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
24,567,235
25,622,749
Cost of sales
(13,583,718)
(13,859,989)
Gross profit
10,983,517
11,762,760
Administrative expenses
(9,755,606)
(9,429,760)
Other operating income
340,907
73,036
Operating profit
6
1,568,818
2,406,036
Interest receivable and similar income
592,603
642,090
Interest payable and similar expenses
(33,651)
(164,994)
Profit before taxation
2,127,770
2,883,132
Tax on profit
8
(365,250)
(669,875)
Profit for the financial year
1,762,520
2,213,257
Profit for the financial year is all attributable to the owners of the parent company.
D C NORRIS & COMPANY LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
- 10 -
2025
2024
£
£
Profit for the year
1,762,520
2,213,257
Other comprehensive income
-
-
Total comprehensive income for the year
1,762,520
2,213,257
Total comprehensive income for the year is all attributable to the owners of the parent company.
D C NORRIS & COMPANY LTD
GROUP BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
11
729,851
372,684
Tangible assets
9
9,930,247
9,057,608
10,660,098
9,430,292
Current assets
Stocks and work in progress
14
3,409,124
2,811,473
Debtors
15
12,565,888
10,077,782
Cash at bank and in hand
13,348,995
11,581,623
29,324,007
24,470,878
Creditors: amounts falling due within one year
17
(12,571,340)
(8,156,142)
Net current assets
16,752,667
16,314,736
Total assets less current liabilities
27,412,765
25,745,028
Provisions for liabilities
Deferred tax liability
18
904,823
899,606
(904,823)
(899,606)
Net assets
26,507,942
24,845,422
Capital and reserves
Called up share capital
20
74
74
Other reserves
21
290,063
290,063
Profit and loss reserves
21
26,217,805
24,555,285
Total equity
26,507,942
24,845,422
The financial statements were approved by the board of directors and authorised for issue on 11 May 2026 and are signed on its behalf by:
11 May 2026
Mr D Norris
Director
Company registration number 01131910 (England and Wales)
D C NORRIS & COMPANY LTD
COMPANY BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
3,463,861
2,525,659
Investments
12
1,825,941
1,019,872
5,289,802
3,545,531
Current assets
Stocks and work in progress
14
1,814,212
1,605,691
Debtors falling due after more than one year
15
2,466,180
2,466,180
Debtors falling due within one year
15
7,490,433
5,819,818
Cash at bank and in hand
8,495,258
7,801,124
20,266,083
17,692,813
Creditors: amounts falling due within one year
17
(5,201,766)
(3,356,079)
Net current assets
15,064,317
14,336,734
Total assets less current liabilities
20,354,119
17,882,265
Provisions for liabilities
Deferred tax liability
18
359,053
347,713
(359,053)
(347,713)
Net assets
19,995,066
17,534,552
Capital and reserves
Called up share capital
20
74
74
Other reserves
21
290,063
290,063
Profit and loss reserves
21
19,704,929
17,244,415
Total equity
19,995,066
17,534,552

As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £2,560,514 (2024 - £1,528,220 profit).

The financial statements were approved by the board of directors and authorised for issue on 11 May 2026 and are signed on its behalf by:
11 May 2026
Mr D Norris
Director
Company registration number 01131910 (England and Wales)
D C NORRIS & COMPANY LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 13 -
Share capital
Other Reserves
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 September 2023
74
290,063
22,342,028
22,632,165
Year ended 31 August 2024:
Profit and total comprehensive income
-
-
2,213,257
2,213,257
Balance at 31 August 2024
74
290,063
24,555,285
24,845,422
Year ended 31 August 2025:
Profit and total comprehensive income
-
-
1,762,520
1,762,520
Dividends
10
-
-
(100,000)
(100,000)
Balance at 31 August 2025
74
290,063
26,217,805
26,507,942
D C NORRIS & COMPANY LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 14 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 September 2023
74
290,063
15,716,195
16,006,332
Year ended 31 August 2024:
Profit and total comprehensive income for the year
-
-
1,528,220
1,528,220
Balance at 31 August 2024
74
290,063
17,244,415
17,534,552
Year ended 31 August 2025:
Profit and total comprehensive income
-
-
2,560,514
2,560,514
Dividends
10
-
-
(100,000)
(100,000)
Balance at 31 August 2025
74
290,063
19,704,929
19,995,066
D C NORRIS & COMPANY LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
4,267,363
1,921,968
Interest paid
(33,651)
(164,994)
Income taxes paid
(977,913)
(138,136)
Net cash inflow from operating activities
3,255,799
1,618,838
Investing activities
Purchase of intangible assets
(451,458)
-
Purchase of tangible fixed assets
(1,787,681)
(2,509,473)
Proceeds from disposal of tangible fixed assets
258,623
60,019
Repayment of loans
(514)
(36,572)
Interest received
592,603
642,090
Net cash used in investing activities
(1,388,427)
(1,843,936)
Financing activities
Dividends paid to equity shareholders
(100,000)
-
0
Net cash used in financing activities
(100,000)
-
Net increase/(decrease) in cash and cash equivalents
1,767,372
(225,098)
Cash and cash equivalents at beginning of year
11,581,623
11,806,721
Cash and cash equivalents at end of year
13,348,995
11,581,623
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 16 -
1
Accounting policies
Company information

D C Norris & Company Ltd. ("the company") is a private company limited by shares, and is registered, domiciled and incorporated in England and Wales. The registered office is Sand Road Industrial Estate, Sand Road, Great Gransden, Sandy, Bedfordshire. SG19 3AH.

The group consists of D C Norris & Company Ltd, its wholly owned subsidiaries, BCH (Rochdale) Limited, D C Norris North America LLC, Gilwood Limited, AE Mixers Limited, Advanced Engineering (Middleton) Limited and Sand House Kitchen Limited.

The company's and the group's principal activities and nature of its operations are disclosed in the Directors' Report.

Under section 479A of the Companies Act 2006, D C Norris & Company Ltd has given a parental guarantee to Sand House Kitchen Limited and Gilwood Limited for the period ended 31 August 2024. The subsidiary company has taken advantage of the exemption from audit.

Under this parental guarantee D C Norris & Company Ltd guarantees all outstanding liabilities to which the subsidiary company is subject to at the end of the financial year to which the guarantee relates, until they are satisfied in full. Furthermore, D C Norris & Company Ltd affirms that the guarantee is enforceable against the parent undertaking by any person to whom the subsidiary company is liable in respect of those liabilities.

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, including the provisions of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Reduced Disclosure Framework

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures.

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 17 -
1.2
Basis of consolidation

The consolidated financial statements incorporate those of D C Norris & Company Ltd, and its subsidiaries BCH (Rochdale) Limited, D C Norris North America LLC, Sand House Kitchen Limited, Gilwood Limited, AE Mixers Limited and Advanced Engineering (Middleton) Limited (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 31 August 2025 except those of AE Mixers Limited and Advanced Engineering (Middleton) Limited which currenty have accounting reference dates at the end of March. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.3
Going concern

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

1.4
Turnover

Turnover represents the fair value of consideration receivable for goods and services net of VAT and trade discounts.

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

Revenue on long term contracts is taken as the work s carried out if the outcome can be assessed with reasonable certainty. The revenue included is calculated to reflect the proportion of work carried out at the period end, as contract activity progresses. Provisions are made for all foreseeable losses. The amount by which revenue exceeds payments on account is included within creditors.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business 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.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
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. Costs represents purchase price together with any incidental costs of acquisition.

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 18 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold buildings
Straight line over 30 years
Plant and equipment
10% reducing balance
Fixtures and fittings
15% reducing balance
Computers
25% reducing balance
Motor vehicles
33.3% reducing balance

Assets in the course of construction are not depreciated.

No depreciation is provided on freehold land.

Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life.

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 recognised in the profit and loss account.

1.7
Fixed asset investments

In separate accounts of the company, interests in subsidiaries and jointly controlled entities are initially measure at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary in an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

In the consolidated accounts these jointly controlled entities are accounted for using the equity method and a share of the results of the jointly controlled entity is recognised in the group financial statements. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment loss are recognised immediately in the profit or loss.

Unlisted investments represent tangible assets held by the group for mid to long term appreciation in value. These are carried at the lower of cost and net realisable value and assessed for impairment by the Directors annually, with any impairment or reversal in impairment being recognised in the profit and loss.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 19 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.9
Stocks and work in progress

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.

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.

Work in progress represents the cost of goods that were partially completed at the reporting date but not yet ready for sale.

1.10
Cash and cash equivalents

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

1.11
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 20 -
Impairment of financial assets

Financial assets 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 group 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 group after deducting all of its liabilities.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the group's contractual obligations are discharged, cancelled, or they expire.

1.12
Equity instruments

Equity instruments issued by the group 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 group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax. Current tax assets are recognised when tax paid exceeds the tax payable

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 21 -

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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax asses and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

1.14
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.

1.15
Retirement benefits

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

1.16
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 leased asset are consumed.

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 22 -
1.17
Foreign exchange

Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

1.18

Research and development

Research expenditure is written off against profits in the year in which it is incurred.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Revenue recognition

The Group uses the stage of completion method in accounting for its long term contracts. The stage of completion is normally measured by the proportion of contract costs incurred and/or hours worked to date compared to the estimated total contract costs or total hours worked, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 23 -
3
Turnover
2025
2024
£
£
Turnover analysed by class of business
Sale of goods
24,197,239
25,283,638
Sale of services
369,996
339,111
24,567,235
25,622,749
2025
2024
£
£
Other revenue
Interest income
592,603
642,090
Grants received
-
-
592,603
642,090
2025
2024
£
£
Turnover analysed by geographical market
UK
11,030,654
10,977,028
Europe
972,059
831,564
USA
4,455,283
4,274,565
Rest of world
8,109,239
9,539,592
24,567,235
25,622,749

4
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Production staff
173
183
76
87
Office staff
52
51
40
40
Directors
13
11
4
2
Other
1
1
1
1
Total
239
246
121
130
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
4
Employees
(Continued)
- 24 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
11,345,477
6,765,680
5,710,046
3,787,120
Social security costs
1,341,324
1,187,714
721,830
640,792
Pension costs
344,403
239,037
140,480
130,722
13,031,204
8,192,431
6,572,356
4,558,634
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
614,916
232,549
Company pension contributions to defined contribution schemes
8,965
4,185
623,881
236,734
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2)
6
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
134,142
(6,260)
Research and development costs
14,398
8,797
Depreciation of owned tangible fixed assets
704,357
672,982
(Profit)/loss on disposal of tangible fixed assets
(44,210)
3,807
Amortisation of intangible assets
94,291
77,813
Audit of the financial statements of the group and company
40,000
43,500
7
Interest receivable and similar income
2025
2024
£
£
Interest on bank deposits
530,114
464,371
Other interest income
62,489
177,719
Total income
592,603
642,090
Included within other interest income is £28,838 (2024: £26,091) which relates to interest received for a loan agreement with Clarence Investments Limited (see note 23)
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 25 -
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
573,499
596,986
Adjustments in respect of prior periods
(197,412)
13,353
Total UK current tax
376,087
610,339
Foreign current tax on profits for the current period
-
0
15,881
Total current tax
376,087
626,220
Deferred tax
Origination and reversal of timing differences
(10,837)
43,655
Total tax charge
365,250
669,875

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
2,127,770
2,883,132
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
531,943
720,783
Tax effect of expenses that are not deductible in determining taxable profit
1,681
2,230
Tax effect of income not taxable in determining taxable profit
(38,781)
(46,519)
Unutilised tax losses carried forward
11,400
-
0
Adjustments in respect of prior years
(197,411)
13,353
Fixed asset timing differences
6,660
39,891
Remeasurement of deferred tax for changes in rates
(106,792)
-
0
Other timing differences
83,819
-
0
Impact of overseas tax rates
72,731
(59,863)
Taxation charge
365,250
669,875
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 26 -
9
Tangible fixed assets
Group
Freehold buildings
Leasehold improvements
Assets under construction
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
£
Cost or Valuation
At 1 September 2024
6,450,601
-
0
109,663
5,008,651
304,703
126,493
1,011,328
13,011,439
Additions
902,989
-
0
6,413
259,656
24,234
13,601
310,730
1,517,623
Business combinations
-
0
28,978
-
0
219,598
12,402
-
0
9,080
270,058
Disposals
-
0
-
0
2,613
(2,352)
(542)
-
0
(110,852)
(113,746)
At 31 August 2025
7,353,590
28,978
119,804
5,485,553
340,797
140,094
1,220,286
14,689,102
Depreciation and impairment
At 1 September 2024
1,461,318
-
0
-
0
1,740,298
114,866
67,157
570,192
3,953,831
Depreciation charged in the year
148,039
1,207
-
0
339,835
26,908
16,297
172,071
704,357
Eliminated in respect of disposals
-
0
-
0
-
0
(1,112)
(166)
-
0
(99,111)
(100,389)
Business combinations
-
0
18,990
-
0
163,887
9,483
-
0
8,696
201,056
At 31 August 2025
1,609,357
20,197
-
0
2,242,908
151,091
83,454
651,848
4,758,855
Carrying amount
At 31 August 2025
5,744,233
8,781
119,804
3,242,645
189,706
56,640
568,438
9,930,247
At 31 August 2024
4,989,283
-
0
109,663
3,268,353
189,837
59,336
441,136
9,057,608
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 27 -
Company
Freehold buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or Valuation
At 1 September 2024
2,192,706
1,814,415
230,545
599,543
4,837,209
Additions
881,981
198,609
9,638
168,438
1,258,666
Disposals
-
0
-
0
(542)
(59,300)
(59,842)
At 31 August 2025
3,074,687
2,013,024
239,641
708,681
6,036,033
Depreciation and impairment
At 1 September 2024
1,080,639
785,492
90,570
354,849
2,311,550
Depreciation charged in the year
85,248
107,132
21,389
101,957
315,726
Eliminated in respect of disposals
-
0
-
0
(166)
(54,938)
(55,104)
At 31 August 2025
1,165,887
892,624
111,793
401,868
2,572,172
Carrying amount
At 31 August 2025
1,908,800
1,120,400
127,848
306,813
3,463,861
At 31 August 2024
1,112,067
1,028,923
139,975
244,694
2,525,659
In April 2025, the company acquired the freehold property previously owned by its subsidiary Advanced Engineering (Middleton) Limited, for £881,981.
Freehold land and buildings with a historical cost of £991,016 were valued to £1,200,000 on 2 July 2008 by Paul Wallace Professional, independant chartered surveyors, on an open market basis
If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:
Group
Company
2025
2024
2025
2024
£
£
£
£
Cost
1,676,016
1,676,016
1,676,016
1,676,016
Accumulated depreciation
1,181,365
1,125,498
1,181,365
1,125,498
Carrying value
2,857,381
2,801,514
2,857,381
2,801,514
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 28 -
10
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
100,000
-
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 September 2024
491,451
Additions
451,458
At 31 August 2025
942,909
Amortisation and impairment
At 1 September 2024
118,767
Amortisation charged for the year
94,291
At 31 August 2025
213,058
Carrying amount
At 31 August 2025
729,851
At 31 August 2024
372,684
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
1,825,941
1,019,872
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
12
Fixed asset investments
(Continued)
- 29 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 September 2024
1,019,872
Additions
806,069
At 31 August 2025
1,825,941
Carrying amount
At 31 August 2025
1,825,941
At 31 August 2024
1,019,872
13
Subsidiaries

Details of the company's subsidiaries at 31 August 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
BCH (Rochdale) Limited
6th Floor, 25 Farringdon Street, London, United Kingdom, EC4A 4AB
Ordinary
100.00
DC Norris North America LLC
1564 Northern Star Drive, Traverse City, MI 49696
100.00
Sand House Kitchen Limited
Sand Road Industrial Estate Sand Road, Bedforshire, SG19 3AH
Ordinary
100.00
Gilwood Limited
1st Floor, Gallery Court, 28 Arcadia Avenue, London, United Kingdom, N3 2FG
Ordinary
100.00
AE Mixers Limited
Sand Road Industrial Estate Sand Road, Bedforshire, SG19 3AH
Ordinary
100.00
Advanced Engineering (Middleton) Limited
Sand Road Industrial Estate Sand Road, Bedforshire, SG19 3AH
Ordinary
100.00
14
Stocks and work in progress
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
984,896
1,055,742
984,896
1,055,742
Work in progress
903,443
582,296
829,316
549,949
Finished goods and goods for resale
1,520,785
1,173,435
-
0
-
0
3,409,124
2,811,473
1,814,212
1,605,691
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 30 -
15
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
4,433,559
3,892,440
1,668,988
1,546,784
Gross amounts owed by contract customers
1,769,995
1,401,458
555,889
692,795
Corporation tax recoverable
906,341
336,676
906,341
336,676
Amounts owed by group undertakings
-
0
-
0
2,006,131
758,782
Other debtors
3,728,733
2,745,867
2,069,182
2,233,397
Prepayments and accrued income
1,727,260
1,701,341
283,902
251,384
12,565,888
10,077,782
7,490,433
5,819,818
Amounts falling due after more than one year:
Amounts owed by group undertakings
-
0
-
0
2,466,180
2,466,180
Total debtors
12,565,888
10,077,782
9,956,613
8,285,998
Amounts owed by group undertakings are subject to interest and are due on 31 August 2028. The loan is secured by way of a fixed and floating charge over all assets of the subsidiary company.
Other debtors relates to amounts receivable from long term loan between related party (see note 23).
16
Security over assets

The company has granted a fixed and floating charge over all property and undertakings in favour of Barclays Bank plc. At the year end, there were no outstanding borrowings secured under this arrangement.

17
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Payments received on account
7,063,848
3,066,694
2,486,642
1,167,245
Trade creditors
1,325,119
1,297,709
627,686
721,665
Amounts owed to group undertakings
-
0
-
0
383,855
332,539
Corporation tax payable
37,150
86,786
-
0
-
0
Other taxation and social security
803,380
468,238
369,095
230,396
Deferred income
1,647,172
1,758,521
-
0
-
0
Other creditors
66,122
264,390
28,634
26,409
Accruals and deferred income
1,628,549
1,213,804
1,305,854
877,825
12,571,340
8,156,142
5,201,766
3,356,079
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 31 -
18
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
918,246
901,096
Retirement benefit obligations
(6,494)
-
Other timing differences
(6,929)
(1,490)
904,823
899,606
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
365,547
348,280
Retirement benefit obligations
(6,494)
-
Other timing differences
-
(567)
359,053
347,713
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 September 2024
899,606
347,713
Charge to profit or loss
5,217
11,340
Liability at 31 August 2025
904,823
359,053
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
344,403
239,037

A defined contribution pension scheme is operated for all qualifying employees. The assets of the schemes are held separately from those of the group in independently administered funds.

Contributions outstanding at year end amounted to £53,693 (2024: £47,976).

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 32 -
20
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
74
74
74
74

Ordinary shares have attached to them full voting, dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption.

D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 33 -
21
Reserves
Other reserves
Other reserves represent the cumulative revaluation gains and losses in respect of land and buildings except revaluation gains and losses recognised in profit or loss.
Profit and loss reserves
Profit and loss reserves represents cumulative profit and loss net of distributions to owners.
22
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
1,762,520
2,213,257
Adjustments for:
Taxation charged
365,250
669,875
Finance costs
33,651
164,994
Investment income
(592,603)
(642,090)
(Gain)/loss on disposal of tangible fixed assets
(44,210)
3,807
Amortisation and impairment of intangible assets
94,291
77,813
Depreciation and impairment of tangible fixed assets
704,357
672,982
Movements in working capital:
Increase in stocks
(597,651)
(461,296)
Increase in debtors
(1,917,927)
(923,092)
Increase/(decrease) in creditors
4,576,183
(1,307,702)
(Decrease)/increase in deferred income
(111,349)
1,453,420
Cash generated from operations
4,272,512
1,921,968
23
Operating lease commitments
Lessee

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

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
2,715
2,715
2,715
2,715
Between two and five years
4,752
6,110
4,752
6,110
7,467
8,825
7,467
8,825
D C NORRIS & COMPANY LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 34 -
24
Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel of the group, who are also directors of the company and its subsidiaries, is as follows:
2025
2024
£
£
Aggregate compensation
1,028,916
774,923
No guarantees have been give or received.
The group is related to Clarence Investments Limited by virtue of the interests of the controlling director. During the year the group was engaged in a loan agreement with Clarence Investments Limited. A proportion of the loan bears interest and the group received interest of £28,838 (2024: £26,091).
At the reporting date the group was owed £1,605,723 (2024: 1,605,209) by D A Norris. The amount is included in debtors due within one year. The loan does not bear any interest and is repayable on demand.
25
Controlling party
The ultimate controlling party is D A Norris, the director by virtue of his controlling interest in the issued ordinary share capital. The remaining share capital is held by the Norris family.
26
Analysis of changes in net funds - group
1 September 2024
Cash flows
31 August 2025
£
£
£
Cash at bank and in hand
11,581,623
1,767,372
13,348,995
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