| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| FOR |
| BURROWS & SMITH LIMITED |
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| FOR |
| BURROWS & SMITH LIMITED |
| BURROWS & SMITH LIMITED (REGISTERED NUMBER: 00366790) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BURROWS & SMITH LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 October 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Unit 2, Charnwood Edge Business Park |
| Syston Road |
| Leicestershire |
| LE7 4UZ |
| BURROWS & SMITH LIMITED (REGISTERED NUMBER: 00366790) |
| BALANCE SHEET |
| 31 October 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BURROWS & SMITH LIMITED (REGISTERED NUMBER: 00366790) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2025 |
| 1. | STATUTORY INFORMATION |
| Burrows & Smith Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is 365 Fosse Way, Syston, Leicestershire, LE7 1NL and the registered number is 00366790. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 £1. |
| Going concern |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company 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. |
| Turnover |
| Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised when goods are despatched. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| 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: |
| Plant & machinery | 20% on a reducing balance basis or over 7 years on a straight line basis |
| Motor vehicles | 25% on a straight line basis |
| Fixtures & fittings | 25% on a reducing balance basis |
| Computer equipment | 25% on a straight line basis |
| 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. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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. |
| BURROWS & SMITH LIMITED (REGISTERED NUMBER: 00366790) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase contracts |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. |
| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability. |
| Pension costs and other post-retirement benefits |
| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. |
| Finance costs |
| Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amounts charged is at a consistent rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
| BURROWS & SMITH LIMITED (REGISTERED NUMBER: 00366790) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Operating leases |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 November 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2025 |
| DEPRECIATION |
| At 1 November 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2025 |
| NET BOOK VALUE |
| At 31 October 2025 |
| At 31 October 2024 |
| The net carrying value of tangible fixed assets includes assets held under finance leases or hire purchase contracts with a net book value of £981,367 (2024 - £277,123). The depreciation charged in respect of these assets was £106,756 (2024 - £53,637). |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by connected companies |
| Prepayments and accrued income |
| BURROWS & SMITH LIMITED (REGISTERED NUMBER: 00366790) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2025 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Amounts owed to connected companies |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| Finance lease payments represent rentals payable by the company for certain tangible fixed assets. Leases include plant and machinery on which capital and interest is payable. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts | 676,464 | 158,288 |
| The hire purchase contracts are secured on the assets concerned. |
| BURROWS & SMITH LIMITED (REGISTERED NUMBER: 00366790) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2025 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | RELATED PARTY DISCLOSURES |
| During the year the company had the following transactions with related companies, all ultimately controlled by Mr C R F Shield. |
| Income from related parties |
| During the year the company made sales of £127,974 (2024 - £87,660) to entities under the control of Mr C R F Shield. |
| Purchases from related parties |
| During the year the company purchased goods of £87,941 (2024 - £319,834) and paid rent costs of £113,700 (2024 - £137,500) to entities under the control of Mr C R F Shield. |
| Amounts owed by related parties |
| At the year end the company was owed £4,240,665 (2024 - £4,015,823) by entities under the control of Mr C R F Shield. |
| Amounts owed to related parties |
| At the year end the company owed £nil (2024 - £244,422) to entities under the control of Mr C R F Shield. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by its parent company, Burrows & Smith Holdings Limited which is controlled by C R F Shield. |