Silverfin false false 31/10/2025 01/11/2024 31/10/2025 B S Dunevein 01/10/2003 J Cox 09/04/1992 L Dunevein 26/01/2024 S A Dunevein 09/04/1992 27 July 2026 The principal activity of the Company during the financial year was the supply of industrial consumables. 01882650 2025-10-31 01882650 bus:Director1 2025-10-31 01882650 bus:Director2 2025-10-31 01882650 bus:Director3 2025-10-31 01882650 bus:Director4 2025-10-31 01882650 2024-10-31 01882650 core:CurrentFinancialInstruments 2025-10-31 01882650 core:CurrentFinancialInstruments 2024-10-31 01882650 core:Non-currentFinancialInstruments 2025-10-31 01882650 core:Non-currentFinancialInstruments 2024-10-31 01882650 core:ShareCapital 2025-10-31 01882650 core:ShareCapital 2024-10-31 01882650 core:RetainedEarningsAccumulatedLosses 2025-10-31 01882650 core:RetainedEarningsAccumulatedLosses 2024-10-31 01882650 core:ComputerSoftware 2024-10-31 01882650 core:ComputerSoftware 2025-10-31 01882650 core:LeaseholdImprovements 2024-10-31 01882650 core:PlantMachinery 2024-10-31 01882650 core:Vehicles 2024-10-31 01882650 core:FurnitureFittings 2024-10-31 01882650 core:ComputerEquipment 2024-10-31 01882650 core:LeaseholdImprovements 2025-10-31 01882650 core:PlantMachinery 2025-10-31 01882650 core:Vehicles 2025-10-31 01882650 core:FurnitureFittings 2025-10-31 01882650 core:ComputerEquipment 2025-10-31 01882650 core:CostValuation 2024-10-31 01882650 core:CostValuation 2025-10-31 01882650 core:CurrentFinancialInstruments core:Secured 2025-10-31 01882650 core:WithinOneYear 2025-10-31 01882650 core:WithinOneYear 2024-10-31 01882650 core:BetweenOneFiveYears 2025-10-31 01882650 core:BetweenOneFiveYears 2024-10-31 01882650 2024-11-01 2025-10-31 01882650 bus:FilletedAccounts 2024-11-01 2025-10-31 01882650 bus:SmallEntities 2024-11-01 2025-10-31 01882650 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 01882650 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 01882650 bus:Director1 2024-11-01 2025-10-31 01882650 bus:Director2 2024-11-01 2025-10-31 01882650 bus:Director3 2024-11-01 2025-10-31 01882650 bus:Director4 2024-11-01 2025-10-31 01882650 core:ComputerSoftware core:TopRangeValue 2024-11-01 2025-10-31 01882650 core:OtherResidualIntangibleAssets 2024-11-01 2025-10-31 01882650 core:LeaseholdImprovements core:TopRangeValue 2024-11-01 2025-10-31 01882650 core:PlantMachinery 2024-11-01 2025-10-31 01882650 core:Vehicles 2024-11-01 2025-10-31 01882650 core:FurnitureFittings 2024-11-01 2025-10-31 01882650 core:ComputerEquipment core:TopRangeValue 2024-11-01 2025-10-31 01882650 2023-11-01 2024-10-31 01882650 core:ComputerSoftware 2024-11-01 2025-10-31 01882650 core:LeaseholdImprovements 2024-11-01 2025-10-31 01882650 core:ComputerEquipment 2024-11-01 2025-10-31 01882650 core:Non-currentFinancialInstruments 2024-11-01 2025-10-31 iso4217:GBP xbrli:pure

Company No: 01882650 (England and Wales)

# CONCEPT PRODUCTS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 October 2025
Pages for filing with the registrar

CONCEPT PRODUCTS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 October 2025

Contents

CONCEPT PRODUCTS LIMITED

## BALANCE SHEET

As at 31 October 2025
CONCEPT PRODUCTS LIMITED

## BALANCE SHEET (continued)

As at 31 October 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 14,417 |  | 31,717
Tangible assets | 4 | 171,579 |  | 190,928
Investments | 5 | 264 |  | 264
|  | 186,260 |  | 222,909
Current assets |  |  |  |
Stocks |  | 238,017 |  | 244,076
Debtors | 6 | 599,368 |  | 580,513
Cash at bank and in hand |  | 246,945 |  | 158,256
|  | 1,084,330 |  | 982,845
Creditors: amounts falling due within one year | 7 | ( 797,189) |  | ( 692,823)
Net current assets |  | 287,141 |  | 290,022
Total assets less current liabilities |  | 473,401 |  | 512,931
Creditors: amounts falling due after more than one year | 8 | ( 43,920) |  | ( 78,189)
Provision for liabilities | 9 | ( 36,988) |  | ( 40,522)
Net assets |  | 392,493 |  | 394,220
Capital and reserves |  |  |  |
Called-up share capital |  | 18,000 |  | 18,000
Profit and loss account |  | 374,493 |  | 376,220
Total shareholders' funds |  | 392,493 |  | 394,220

For the financial year ending 31 October 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 financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Concept Products Limited (registered number: 01882650) were approved and authorised for issue by the Board of Directors on 27 July 2026. They were signed on its behalf by:

B S Dunevein Director |

CONCEPT PRODUCTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2025
CONCEPT PRODUCTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Concept Products Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is 10 Cary Court, Somerton Business Park, Somerton, Somerset, TA11 6SB.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software | 3 years straight line

###### Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 10 years straight line
Plant and machinery | 20 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 20 % reducing balance
Computer equipment | 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of 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 credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is made up of direct materials. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
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.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 31 |  | 33

#### 3. Intangible assets

| Computer software |  | Total
| £ |  | £
Cost |  |  |
At 01 November 2024 | 51,900 |  | 51,900
At 31 October 2025 | 51,900 |  | 51,900
Accumulated amortisation |  |  |
At 01 November 2024 | 20,183 |  | 20,183
Charge for the financial year | 17,300 |  | 17,300
At 31 October 2025 | 37,483 |  | 37,483
Net book value |  |  |
At 31 October 2025 | 14,417 |  | 14,417
At 31 October 2024 | 31,717 |  | 31,717

#### 4. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 November 2024 | 11,094 |  | 169,022 |  | 64,007 |  | 141,471 |  | 102,289 |  | 487,883
Additions | 0 |  | 30,000 |  | 0 |  | 0 |  | 0 |  | 30,000
Disposals | 0 |  | ( 27,305) |  | 0 |  | 0 |  | 0 |  | ( 27,305)
At 31 October 2025 | 11,094 |  | 171,717 |  | 64,007 |  | 141,471 |  | 102,289 |  | 490,578
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 November 2024 | 7,770 |  | 127,514 |  | 25,477 |  | 111,130 |  | 25,064 |  | 296,955
Charge for the financial year | 1,110 |  | 12,626 |  | 9,633 |  | 6,068 |  | 18,800 |  | 48,237
Disposals | 0 |  | ( 26,193) |  | 0 |  | 0 |  | 0 |  | ( 26,193)
At 31 October 2025 | 8,880 |  | 113,947 |  | 35,110 |  | 117,198 |  | 43,864 |  | 318,999
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 October 2025 | 2,214 |  | 57,770 |  | 28,897 |  | 24,273 |  | 58,425 |  | 171,579
At 31 October 2024 | 3,324 |  | 41,508 |  | 38,530 |  | 30,341 |  | 77,225 |  | 190,928

#### 5. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 November 2024 | 264 |  | 264
At 31 October 2025 | 264 |  | 264
Carrying value at 31 October 2025 | 264 |  | 264
Carrying value at 31 October 2024 | 264 |  | 264

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 392,798 |  | 467,432
Amounts owed by directors | 170,755 |  | 105,405
Other debtors | 35,815 |  | 7,676
| 599,368 |  | 580,513

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 26,765 |  | 30,039
Trade creditors | 306,671 |  | 201,503
Other loans (secured) | 273,276 |  | 229,723
Corporation tax | 16,065 |  | 54,248
Other taxation and social security | 94,582 |  | 83,441
Obligations under finance leases and hire purchase contracts (secured) | 28,153 |  | 26,148
Other creditors | 51,677 |  | 67,721
| 797,189 |  | 692,823

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 19,945 |  | 46,755
Obligations under finance leases and hire purchase contracts (secured) | 23,975 |  | 31,434
| 43,920 |  | 78,189

The obligations under finance leases and hire purchase contracts are secured on the underlying assets which are included within plant & machinery, motor vehicles and intangible assets. The net book value of the relevant assets at the balance sheet date is £65,222 (2024 - £69,966).
Within bank loans is a balance of £6,667 relating to an outstanding amount due from a Covid Bounce Back Loan (2024 - £16,667). The UK government has guaranteed 100% of the value of the loan.
Within other loans is a balance of £273,276 (2024 - £229,723) which is secured by a fixed and floating charge over the assets of the company.

#### 9. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 36,988 |  | 40,522

#### 10. Financial commitments

Commitments

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

| 2025 |  | 2024
| £ |  | £
Within one year | 57,451 |  | 54,919
Between one and five years | 59,523 |  | 56,043
Total future minimum lease payments under non-cancellable operating leases | 116,974 |  | 110,962

This relates to non-cancellable operating leases over the business premises and hire of certain items of office equipment and motor vehicles.

#### 11. Related party transactions

Transactions with the entity's directors

Advances

The Directors' loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 November 2024, the balance owed by the directors was £105,405. During the year, £116,338 was advanced to the directors, and £50,988 was repaid by the directors. At 31 October 2025, the balance owed by the directors was £170,755.
At 1 November 2023, the balance owed by the directors was £101,844. During the year, £224,190 was advanced to the directors, and £220,629 was repaid by the directors. At 31 October 2024, the balance owed by the directors was £105,405.