Specialised Canvas Services Limited 31/12/2025 iXBRL

Company registration number: 02895710

Specialised Canvas Services Limited

Unaudited filleted financial statements

31 December 2025

Specialised Canvas Services Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Specialised Canvas Services Limited

Directors and other information


	Directors	Mr. P. R. Noble
		Mr. S. E. T. Bramah
		Mr. R. D. Shelton


	Company number	02895710


	Registered office	Adelphi Way
		Ireland Industrial Estate
		Staveley
		Chesterfield
		S43 3LS


	Business address	Adelphi Way
		Ireland Industrial Estate
		Staveley
		Chesterfield
		S43 3LS


	Accountants	Henry Bramall & Co. Limited
		Unit 8, Acorn Business Park
		Woodseats Close
		Sheffield
		South Yorkshire
		S8 0TB

Specialised Canvas Services Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Specialised Canvas Services Limited

Year ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Specialised Canvas Services Limited for the year ended 31 December 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of Specialised Canvas Services Limited, as a body, in accordance with the terms of our engagement letter dated 26 June 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Specialised Canvas Services Limited and state those matters that we have agreed to state to the board of directors of Specialised Canvas Services Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Specialised Canvas Services Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Specialised Canvas Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Specialised Canvas Services Limited. You consider that Specialised Canvas Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Specialised Canvas Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Henry Bramall & Co. Limited

Chartered Certified Accountants

Unit 8, Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

23 July 2026

Specialised Canvas Services Limited

Statement of financial position

31 December 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	111,989		125,659
Tangible assets	6	755,560		685,012
Investments	7	17,562		17,562
		_______		_______
			885,111		828,233

Current assets
Stocks		543,110		506,455
Debtors	8	628,795		574,945
Cash at bank and in hand		488,782		421,630
		_______		_______
		1,660,687		1,503,030
Creditors: amounts falling due
within one year	9	( 1,161,594)		( 955,251)
		_______		_______
Net current assets			499,093		547,779
			_______		_______
Total assets less current liabilities			1,384,204		1,376,012

Creditors: amounts falling due
after more than one year	10		( 65,298)		( 13,254)

Provisions for liabilities			( 133,483)		( 116,349)

			_______		_______
Net assets			1,185,423		1,246,409
			_______		_______

Capital and reserves
Called up share capital			250,000		250,000
Profit and loss account			935,423		996,409
			_______		_______
Shareholders funds			1,185,423		1,246,409
			_______		_______

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 23 July 2026 , and are signed on behalf of the board by:

Mr. P. R. Noble

Director

Company registration number: 02895710

Specialised Canvas Services Limited

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Adelphi Way, Ireland Industrial Estate, Staveley, Chesterfield, S43 3LS.

2. Statement of compliance

The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover

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

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

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably .

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	25 %
Combined other intangible assets	-	33.3 %

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	straight line
Fittings fixtures and equipment	-	25 %	straight line
Motor vehicles	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 102 (2024: 90 ).

5. Intangible assets

	Goodwill	Other intangible assets	Total
	£	£	£
Cost
At 1 January 2025 and 31 December 2025	600,589	33,080	633,669
	_______	_______	_______
Amortisation
At 1 January 2025	478,140	29,870	508,010
Charge for the year	11,525	2,145	13,670
	_______	_______	_______
At 31 December 2025	489,665	32,015	521,680
	_______	_______	_______
Carrying amount
At 31 December 2025	110,924	1,065	111,989
	_______	_______	_______
At 31 December 2024	122,449	3,210	125,659
	_______	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2025	2,052,795	304,423	2,357,218
Additions	254,039	28,493	282,532
Disposals	( 3,058)	( 21,238)	( 24,296)
	_______	_______	_______
At 31 December 2025	2,303,776	311,678	2,615,454
	_______	_______	_______
Depreciation
At 1 January 2025	1,481,157	191,050	1,672,207
Charge for the year	145,984	63,047	209,031
Disposals	( 2,051)	( 19,293)	( 21,344)
	_______	_______	_______
At 31 December 2025	1,625,090	234,804	1,859,894
	_______	_______	_______
Carrying amount
At 31 December 2025	678,686	76,874	755,560
	_______	_______	_______
At 31 December 2024	571,638	113,373	685,011
	_______	_______	_______

7. Investments

	Shares in group undertakings and participating interests	Other investments other than loans	Total
	£	£	£
Cost
At 1 January 2025 and 31 December 2025	7,562	10,000	17,562
	_______	_______	_______
Impairment
At 1 January 2025 and 31 December 2025	-	-	-
	_______	_______	_______
Carrying amount
At 31 December 2025	7,562	10,000	17,562
	_______	_______	_______
At 31 December 2024	7,562	10,000	17,562
	_______	_______	_______

Investments in group undertakings
	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Flagmakers Limited (Dormant)	England and Wales	Ordinary	100

Banner Box Limited (Dormant)	England and Wales	Ordinary	100

George Tutill Limited (Dormant)	England and Wales	Ordinary	100


Other significant holdings
Eagle Flags s.r.o	Czech Republic	Ordinary	50

Investments in joint ventures

	2025	2024
	£	£

	_______	_______
Carrying amount of investments in joint ventures	18,134	11,909
	_______	_______

Summarised financial information of jointly controlled entities:

	2025	2024
	£	£
At the year end
Current assets	66,891	55,633
Current liabilities	( 54,303)	( 47,194)

During the year
Revenues	144,235	146,974
Profit from continuing operations	12,450	8,763

This joint venture is 50% owned by Specialised Canvas Services Limited and as such a intangible transfer to retained earnings amounting to £6,625 (2024 - £4,381) has been retained. This has increased the carrying value to £18,134. (2024 - £11,909)

8. Debtors

	2025	2024
	£	£
Trade debtors	500,769	481,803
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,732	1,732
Other debtors	126,294	91,410
	_______	_______
	628,795	574,945
	_______	_______

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	625,428	384,333
Amounts owed to group undertakings and undertakings in which the company has a participating interest	292	195
Social security and other taxes	234,585	223,613
Other creditors	301,289	347,110
	_______	_______
	1,161,594	955,251
	_______	_______

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	65,298	13,254
	_______	_______

This liability is secured by a charge over the asset concerned.

11. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	170,000	120,000
	_______	_______

The company has a re-occuring lease in respect of the building .

12. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value
	2025	2024
	£	£
Eagle Flags - Turnover	147	138
Eagle Flags - Purchases	( 144,179)	( 147,038)
	_______	_______

The company has entered into a joint venture equity partnership with Velebny & Fam sro, a Czech company, to form Eagle Flags sro , a company incorporated in the Czech Republic and is a 50% equity owner. All respective sales and purchases have been made at open market value.

13. Controlling party

This company is a wholly owned subsidiary of Specialised Canvas Partners Company Limited a company incorporated in England & Wales being the Ultimate parent company.