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Registered number:
For the Year Ended
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LDL Components Ltd
Company Information
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LDL Components Ltd
Contents
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LDL Components Ltd
Strategic Report
For the Year Ended 31 December 2025
The directors present the strategic report for the year ended 31 December 2025.
Principal activity The principal activity of the company during the year was the distribution of components and furniture for use in the fitted furniture industry. Business model The company operates an ex stock warehouse facility and assembly service, offering over 8,000 SKUs and bespoke width drawers on a next day service. The Company’s aim is to provide its customers with tailored, easy solutions to complex products allied to an industry leading service and product range.
Market conditions remained challenging throughout much of 2025. Whilst inflationary pressures eased compared with previous years and interest rates began to moderate, consumer confidence remained fragile and demand across the housing, renovation and home improvement sectors continued to be subdued. As a result, competition within the market remained intense.
Against this backdrop, the Company delivered a strong financial performance. The Company’s performance during the year was driven primarily by the successful execution of its strategy rather than any material improvement in underlying market conditions. Turnover increased by 12.9% to £14.6 million (2024: £12.9 million), significantly outperforming the wider market and reflecting the continued success of the Company’s strategy. The Directors believe this performance demonstrates an increase in market share, driven by the Company’s reputation for service, product quality, technical expertise and stock availability.
Gross margin increased to 24.0% (2024: 23.7%), despite ongoing competitive pressures, reflecting the resilience of the Company’s customer base and the value placed on its premium product offering and service proposition.
Operating profit increased to £913,528 (2024: £789,846), whilst profit before taxation rose to £786,533 (2024: £641,958). The improvement was driven by increased sales volumes, operational efficiencies and a significant reduction in finance costs following debt repayments made during the year.
The Company continues to strengthen its position as the UK's leading distributor of Blum products and remains focused on delivering industry-leading service levels, technical support and product innovation. Investment continued throughout the year in digital infrastructure, operational capability and product development to support future growth.
The Directors are particularly encouraged by the Company’s ability to deliver growth despite the continuing challenges facing the wider market. The Company’s longstanding strategy of competing on service, expertise and product quality rather than price continues to differentiate the business from competitors and supports both customer retention and sustainable growth.
Whilst economic uncertainty remains, the Directors believe the Company is well positioned to continue outperforming the market through further investment in its people, systems, product offering and customer relationships.
Page 1
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LDL Components Ltd
Strategic Report (continued)
For the Year Ended 31 December 2025
The Company’s activities expose it to a number of risks and uncertainties, notably its connection to the housing market and the impact of macro-economic factors such as interest rates and exchange rates on price and demand.
Market risk The Company’s performance remains linked to activity levels within the housing, renovation and home improvement sectors. Whilst inflation has moderated and interest rates have begun to ease, demand across these sectors remains below historic levels and the pace of recovery remains uncertain.
The Company continues to operate predominantly within the premium segment of the market, where demand has historically proven more resilient than in the value-led sector. Furthermore, the Company’s focus on service, technical expertise, product quality and strong supplier relationships provides a degree of protection from purely price-based competition.
The Directors believe that these factors position the Company well to continue gaining market share even in subdued market conditions, whilst remaining able to benefit from any broader recovery in demand. conditions into 2025 are showing signs of improvement, though the pace of change is slow. Persistent high interest rates, inflation and political uncertainty are still present and will continue to impede growth in the housing and home improvement markets. The company is positioned in the quality sector of the market, the demographic of which is impacted less by these factors than the lower quality, price focused segment. As such, the expectation is that demand will remain relatively consistent.
Inflation risk Whilst reducing, core inflation remains above the Bank of England’s target of 2% and with geopolitical uncertainty producing further inflationary pressures, the cost base of the business may increase. In a competitive market, the Company’s ability to raise selling prices is limited, therefore persistent inflation will erode profitability. The business leverages its excellent, longstanding relationships with brand partners to control the cost of sales and operates a robust tendering process for significant overheads to mitigate this risk. Customer retention The kitchen, bedroom and bathroom market is highly competitive with numerous suppliers offering comparable products, giving the customer the opportunity to source elsewhere. The Company has always been service driven, rather than focusing on price, and has invested in the technical knowledge, range of solutions and infrastructure to differentiate from the competition. This service level is difficult to emulate and ensures strong levels of retention. Supplier retention There are a relatively small number of suppliers to the KBB market that are of the requisite quality for the Company to work with. Losing access to supply would represent a risk to customer retention and incur costs in sourcing a replacement. Fundamentally, sales volumes dictate the long-term viability of a relationship. In addition to delivering volume, the Company has always maintained excellent working relationships with a small number of carefully selected brand partners, fostering trust and ensuring they feel the benefit of our commitment to product innovation and high service levels. Exchange rate risk The Company sources product from premium European suppliers and as such is exposed to fluctuations in both EUR and CHF, whilst sales are denominated only in GBP. Whilst those currencies are relatively stable, the company utilises forward contracts to mitigate the risk of movements in between opportunities to rebase the selling price, to ensure sales remain profitable.
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LDL Components Ltd
Strategic Report (continued)
For the Year Ended 31 December 2025
Financial key performance indicators are as follows:
Other key performance indicators measured by the company are as follows:
- Fulfilment rate - Customer retention - Customer satisfaction
This report was approved by the board and signed on its behalf.
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LDL Components Ltd
Directors' Report
For the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £589,731 (2024 - £480,840).
The directors do not recommend payment of a final dividend.
The directors who served during the year were:
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LDL Components Ltd
Directors' Report (continued)
For the Year Ended 31 December 2025
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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LDL Components Ltd
Independent Auditors' Report to the Members of LDL Components Ltd
We have audited the financial statements of LDL Components Ltd (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, 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 auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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LDL Components Ltd
Independent Auditors' Report to the Members of LDL Components Ltd (continued)
In our opinion, based on the work undertaken in the course of the 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.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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LDL Components Ltd
Independent Auditors' Report to the Members of LDL Components Ltd (continued)
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 Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
Identifying and assessing potential risks related to irregularities In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:
∙The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
∙The outcome of enquiries of management, including whether management was aware of any instances of noncompliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
∙Supporting documentation relating to the Company's policies and procedures for:
−Identifying, evaluating, and complying with laws and regulations; and
−Detecting and responding to the risks of fraud
∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
∙The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
∙The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Antibribery and Corruption.
Audit response to risks identified Our procedures to respond to the risks identified included the following:
∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
∙Evaluation of management’s controls designed to prevent and detect irregularities.
∙Enquiring of management about any actual and potential litigation and claims.
∙Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
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LDL Components Ltd
Independent Auditors' Report to the Members of LDL Components Ltd (continued)
We have also considered the risk of fraud through management override of controls by:
∙Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error;
∙Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
∙Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. 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 Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
SK1 3GG
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LDL Components Ltd
Statement of Comprehensive Income
For the Year Ended 31 December 2025
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LDL Components Ltd
Registered number: 07078986
Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 29 form part of these financial statements.
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LDL Components Ltd
Statement of Changes in Equity
For the Year Ended 31 December 2025
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
LDL Components Limited is a private company limited by members capital and incorporated in England and Wales. The address of its registered office and principal place of business is Unit 12 Graphite Way, Hadfield, Glossop, Derbyshire, SK13 1QH.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of LDL Group Holdings Limited as at 31 December 2025 and these financial statements may be obtained from Unit 12 Graphite Way, Hadfield, Glossop, Derbyshire SK13 1QH.
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
The directors have prepared financial forecasts which indicate that the Company will maintain sufficient financial headroom to enable it to continue meeting its liabilities as they fall due in the normal course of business for at least the next 12 months, following approval of these financial statements. The forecast assessment considers various factors, including historical and projected financial performance, available cash resources, existing and potential sources of financing, and any relevant external factors affecting the business environment.
The directors therefore have a reasonable expectation that the Company has adequate financial and other resources to continue in operational existence for the foreseeable future. Accordingly, they continue to prepare the financial statements on a going concern basis.
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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 ordinary shares.
Changes in accounting estimates may be necessary if there are changes in the circumstances on which the estimate was based or as a result of new information or more experience. Significant accounting policies, estimates and assumptions, and judgements are provided below. Recoverable value of trade debtors The recoverable values of trade and other debtors are reviewed regularly in light of available economic information specific to each debtor and specific provisions are recognised for balances considered to be at risk or irrecoverable. At 31 December 2025 the carrying amount of trade debtors totalled £965,357 (2024: £816,799).
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 19
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 20
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
There were no factors that may affect future tax charges.
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 22
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 23
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 24
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 25
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 26
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
Page 27
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
All shares rank pari-passu.
Profit and loss account
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £33,823 (2024: £30,440). Contributions totalling £6,793 (2024: £5,745) were payable to the fund at the balance sheet date and are included in other creditors.
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LDL Components Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2025
The company is a wholly owned subsidiary undertaking of LDL Corporate Ltd, a company incorporated in England and Wales. The registered address of LDL Corporate Ltd is Unit 12 Graphite Way, Rossington Park, Hadfield, Derbyshire, SK13 1QH.
The largest group in which the results of the company are consolidated is that headed by LDL Group Holdings Limited. The consolidated accounts of this group are available to the public and may be obtained from the Registrar of Companies, Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. No other group accounts include the results of the company. The company has taken advantage of the exemption under paragraph 33.1A of FRS 102 not to disclose transactions with wholly owned subsidiaries. There is no overall controlling party of LDL Group Holdings Limited.
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