Company registration number 01502152 (England and Wales)
CHP SUPPLIES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
CHP SUPPLIES LIMITED
COMPANY INFORMATION
Directors
J T Shirley
B Hodkinson
H J Hollowed
S P Hollowed
Secretary
S P Hollowed
Company number
01502152
Registered office
55 Pottery Road
Wigan
Lancashire
WN3 5AA
Auditor
Sumer Auditco Limited
Fourth Floor
Unit 5B, The Parklands
Bolton
BL6 4SD
CHP SUPPLIES LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Profit and loss account
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 23
CHP SUPPLIES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

The directors present the strategic report for the year ended 30 June 2025.

Review of the business

The company reports turnover totaling £14.3m for the period (2024: £15.0m), as the company continues to sell its products and services to customers. The directors report a profit before tax of £1.1m (2024: £0.7m) which is in line with directors expectations based on the economic climate they faced during the year.

The company operates out of six depots across the North West and in the Midlands region: Wigan, Stoke, Manchester, Preston, Wolverhampton and Workington.

Principal risks and uncertainties

A risk assessment is carried out on a regular basis by the directors to formally identify the risks most important to the company. Risk management and internal control reviews are also carried throughout the year.

Liquidity risk

The company manages its cash requirements in order to maximise interest income and minimize interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Credit risk

Credit risk from trade debtors is managed by operating strict credit control procedures, including detailed credit reference checks on new customers, regular reviews of credit limits, daily monitoring of payments received against agreed terms, and comparing debtor days on a regular basis.

Future Developments and Performance

The directors are optimistic about the company’s potential for both revenue and profit growth over the coming years. Given the number of new housing projects that are in place across the country it provides a steady base of customers who will require the company's products. They are satisfied that the company remains financially stable, with adequate resources as well as a diversified customer base.

The strong operational performance was supported by the growing investment portfolio. This remains well diversified, and continues to grow in value post year end. The directors regularly review and monitor this position to ensure it remains aligned with the long-term objectives of the directors and the business.

Key performance indicators

Key performance indicators continue to be used throughout the business. The main focus of the company is to improve gross margins and to continue to generate profits.

| 2025 | 2024
| £m | £m
Turnover | 14.3 | 15.0
GP Margin | 21.7% | 22.9%
Overheads | 2.8 | 3.0
Number of employees | 54 | 59
Number of depots | 6 | 6

The KPIs are aligned with the directors expectations taking into account the economic climate faced during the year. The company are looking to increase their market share by increasing sales through existing depots as well as looking for opportunities to open new depots at key strategic locations.

CHP SUPPLIES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

On behalf of the board

S P Hollowed
Director
14 August 2026
CHP SUPPLIES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 June 2025.

Principal activities

The principal activity of the company is the wholesale of central heating parts and general plumbing requisites and the retail of bathroom furniture and accessories.

Results and dividends

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

Ordinary dividends were paid amounting to £101,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J T Shirley
B Hodkinson
H J Hollowed
S P Hollowed
P H Wilding
(Resigned 24 April 2026)
Future developments

In accordance with s414(c)(11) of the Companies Act, included in the strategic report is information relating to the future developments of the business and principal risks and uncertainty which would otherwise be required by schedule 7 of the "Large and Medium Sized Company's (Accounts and Reports) Regulations 2008" to be contained in the directors report.

Auditor

Sumer Auditco Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006 and is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

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 company and of the profit or loss of the company for that period.

- select suitable accounting policies 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 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.

CHP SUPPLIES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
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 company’s auditor 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 company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
S P Hollowed
Director
14 August 2026
CHP SUPPLIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHP SUPPLIES LIMITED
- 5 -
Opinion

We have audited the financial statements of CHP Supplies Limited (the 'company') for the year ended 30 June 2025 which comprise the profit and loss account, the balance sheet, the statement of changes in equity, the 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 company's affairs as at 30 June 2025 and of its 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 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 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' r eport 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.

CHP SUPPLIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHP SUPPLIES LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its 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, or returns adequate for our audit have not been received from branches not visited by us; or

- the 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 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 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussions with the Directors (as required by auditing standards) and discussed with the Directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect; laws related to data protection, employment, and health and safety.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance.

CHP SUPPLIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CHP SUPPLIES LIMITED (CONTINUED)
- 7 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

We design procedures in line with our responsibilities, outlined below to detect material misstatement due to fraud:

- Matters are discussed amongst the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud

- Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud

- Detecting and responding to the risks of fraud following discussions with management and enquiring as to whether management have knowledge of any actual, suspected or alleged fraud;

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

Nilesh Modhvadia (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited, Statutory Auditor
Fourth Floor
Unit 5B, The Parklands
Bolton
BL6 4SD
14 August 2026
CHP SUPPLIES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
14,341,971
15,010,899
Cost of sales
(11,219,632)
(11,566,351)
Gross profit
3,122,339
3,444,548
Administrative expenses
(2,826,209)
(3,040,930)
Operating profit
4
296,130
403,618
Interest receivable and similar income
7
802,568
333,450
Profit before taxation
1,098,698
737,068
Tax on profit
8
(299,993)
(132,335)
Profit for the financial year
798,705
604,733

The profit and loss account has been prepared on the basis that all operations are continuing operations.

There is no comprehensive income for the year. The total comprehensive income is the total profit for the financial year shown above.

CHP SUPPLIES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
10
41,353
67,471
Tangible assets
11
60,032
90,871
Investments
12
5,678,313
2,984,559
5,779,698
3,142,901
Current assets
Stocks
13
1,649,353
1,790,163
Debtors
14
1,907,546
2,143,348
Cash at bank and in hand
3,295,543
5,004,936
6,852,442
8,938,447
Creditors: amounts falling due within one year
15
(2,139,575)
(2,442,098)
Net current assets
4,712,867
6,496,349
Total assets less current liabilities
10,492,565
9,639,250
Provisions for liabilities
Deferred tax liability
16
183,189
27,579
(183,189)
(27,579)
Net assets
10,309,376
9,611,671
Capital and reserves
Called up share capital
18
5,001
5,001
Capital redemption reserve
19
205,029
205,029
Profit and loss reserves
10,099,346
9,401,641
Total equity
10,309,376
9,611,671

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 14 August 2026 and are signed on its behalf by:
S P Hollowed
Director
Company registration number 01502152 (England and Wales)
CHP SUPPLIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2023
5,001
205,029
8,932,408
9,142,438
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
604,733
604,733
Dividends
9
-
-
(135,500)
(135,500)
Balance at 30 June 2024
5,001
205,029
9,401,641
9,611,671
Year ended 30 June 2025:
Profit and total comprehensive income
-
-
798,705
798,705
Dividends
9
-
-
(101,000)
(101,000)
Balance at 30 June 2025
5,001
205,029
10,099,346
10,309,376
CHP SUPPLIES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
455,602
1,448,142
Income taxes paid
(150,105)
(220,739)
Net cash inflow from operating activities
305,497
1,227,403
Investing activities
Purchase of tangible fixed assets
(24,204)
-
0
Proceeds from disposal of tangible fixed assets
1,500
5,400
Purchase of investments
(2,006,850)
-
0
Interest received
108,814
125,721
Dividends received
6,850
-
0
Net cash (used in)/generated from investing activities
(1,913,890)
131,121
Financing activities
Dividends paid
(101,000)
(135,500)
Net cash used in financing activities
(101,000)
(135,500)
Net (decrease)/increase in cash and cash equivalents
(1,709,393)
1,223,024
Cash and cash equivalents at beginning of year
5,004,936
3,781,912
Cash and cash equivalents at end of year
3,295,543
5,004,936
CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
1
Accounting policies
Company information

CHP Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Pottery Road, Wigan, Lancashire, WN3 5AA.

1.1
Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

1.2
Going concern

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

1.3
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
20% straight line
1.5
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.

CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 13 -

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:

Leasehold land and buildings
Straight line over the life of the lease
Plant and machinery
7% and 25% straight line
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company 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.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost is calculated using the first in first out method.

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.

1.8
Cash and cash equivalents

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

1.9
Financial instruments

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

Financial assets and liabilities are offset, with 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. Financial assets classified as receivable within one year are not amortised.

CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 14 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, 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 company 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 company 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 paymen ts 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. A m ounts 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 the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company 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 company.

CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 15 -
1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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.

1.13
Retirement benefits

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

1.14
Leases
As lessee

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 lease s asset are consumed.

CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 16 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’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.

Management consider that there are no key judgements in the application of accounting policies or key sources of uncertainty.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Wholesale
13,578,374
14,263,345
Retail
763,597
747,554
14,341,971
15,010,899
2025
2024
£
£
Other revenue
Interest income
108,814
125,721
Dividends received
6,850
-
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
22,000
16,900
Depreciation of tangible fixed assets
55,043
53,887
Profit on disposal of tangible fixed assets
(1,500)
(5,400)
Amortisation of intangible assets
26,118
26,118
Operating lease charges
421,191
460,210
CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 17 -
5
Employees

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

2025
2024
Number
Number
Administration
10
8
Selling and distribution
44
51
Total
54
59

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,481,217
1,495,912
Social security costs
144,753
131,686
Pension costs
27,481
31,847
1,653,451
1,659,445
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
171,749
186,898
Company pension contributions to defined contribution schemes
7,542
5,814
179,291
192,712

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 3).

The directors are also considered to be the key management personnel.

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
108,814
125,721
Other income from investments
Dividends received
6,850
-
0
Gains on financial instruments measured at fair value through profit or loss
686,904
207,729
Total income
802,568
333,450
CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 18 -
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
144,383
150,105
Deferred tax
Origination and reversal of timing differences
155,610
(17,770)
Total tax charge
299,993
132,335

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
1,098,698
737,068
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
274,675
184,267
Effects of:
Expenses that are not deductible in determining taxable profit
48,602
(51,932)
Income not taxable in determining taxable profit
(172,102)
-
0
Permanent capital allowances in excess of depreciation
(6,792)
-
0
Deferred tax
155,610
-
0
Taxation charge in the financial statements
299,993
132,335
9
Dividends
2025
2024
£
£
Interim paid
101,000
135,500
CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 19 -
10
Intangible fixed assets
Software
£
Cost
At 1 July 2024 and 30 June 2025
130,590
Amortisation and impairment
At 1 July 2024
63,119
Amortisation charged for the year
26,118
At 30 June 2025
89,237
Carrying amount
At 30 June 2025
41,353
At 30 June 2024
67,471
11
Tangible fixed assets
Leasehold land and buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
256,042
88,293
533,161
514,555
1,392,051
Additions
-
0
-
0
1,895
22,309
24,204
Disposals
-
0
-
0
-
0
(11,500)
(11,500)
At 30 June 2025
256,042
88,293
535,056
525,364
1,404,755
Depreciation and impairment
At 1 July 2024
256,042
88,293
533,161
423,684
1,301,180
Depreciation charged in the year
-
0
-
0
227
54,816
55,043
Eliminated in respect of disposals
-
0
-
0
-
0
(11,500)
(11,500)
At 30 June 2025
256,042
88,293
533,388
467,000
1,344,723
Carrying amount
At 30 June 2025
-
0
-
0
1,668
58,364
60,032
At 30 June 2024
-
0
-
0
-
0
90,871
90,871
12
Fixed asset investments
2025
2024
£
£
Unlisted investments
5,678,313
2,984,559
CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
12
Fixed asset investments
(Continued)
- 20 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2024
2,984,559
Additions
2,006,850
Valuation changes
686,904
At 30 June 2025
5,678,313
Carrying amount
At 30 June 2025
5,678,313
At 30 June 2024
2,984,559
13
Stocks
2025
2024
£
£
Finished goods and goods for resale
1,649,353
1,790,163
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,505,579
1,788,680
Other debtors
31,594
96,281
Prepayments and accrued income
370,373
258,387
1,907,546
2,143,348
15
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,538,457
2,029,407
Corporation tax
144,383
150,105
Other taxation and social security
219,650
72,399
Other creditors
201,171
160,489
Accruals and deferred income
35,914
29,698
2,139,575
2,442,098
CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 21 -
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company:

Liabilities
Liabilities
2025
2024
Balances:
£
£
ACAs
14,456
27,579
Investments
168,733
-
183,189
27,579
2025
Movements in the year:
£
Liability at 1 July 2024
27,579
Charge to profit or loss
155,610
Liability at 30 June 2025
183,189
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
27,481
31,847

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

As at the year end, contributions due to the schemes in respect of the current reporting year were £5,973 (2024: £6,257).

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
3,751
3,751
3,751
3,751
Ordinary B shares of £1 each
251
251
251
251
Ordinary C shares of £1 each
999
999
999
999
5,001
5,001
5,001
5,001

The holders of all classes of ordinary shares are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regard to Company's residual value.

CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 22 -
19
Capital redemption reserve

The capital redemption reserve records the nominal value of shares repurchased by the company.

20
Operating lease commitments
As lessee

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

2025
2024
£
£
Within 1 year
107,474
109,859
Years 2-5
125,836
248,179
233,310
358,038
21
Directors' transactions

Dividends totalling £101,000 (2024 - £135,500) were paid in the year in respect of shares held by the company's directors and close family members.

During the year, Miss H Hollowed charged rent to the company in relation to various branches totaling £312,548 (2024: £312,548).

At the year end the company owed £194,671 (2024: £94,969) to the directors. No interest is paid on the loan and there are no fixed terms for repayment.

Shareholders that are not directors of the company have received employee benefits of £12,173 (2024: £12,173) during the year.

22
Ultimate controlling party

The company is controlled by S Hollowed.

CHP SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 23 -
23
Cash generated from operations
2025
2024
£
£
Profit after taxation
798,705
604,733
Adjustments for:
Taxation charged
299,993
132,335
Investment income
(802,568)
(333,450)
Gain on disposal of tangible fixed assets
(1,500)
(5,400)
Amortisation and impairment of intangible assets
26,118
26,118
Depreciation and impairment of tangible fixed assets
55,043
53,887
Movements in working capital:
Decrease in stocks
140,810
589,137
Decrease in debtors
235,802
353,056
(Decrease)/increase in creditors
(296,801)
27,726
Cash generated from operations
455,602
1,448,142
24
Analysis of changes in net funds
1 July 2024
Cash flows
30 June 2025
£
£
£
Cash at bank and in hand
5,004,936
(1,709,393)
3,295,543
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