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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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H.D. SHARMAN LIMITED
COMPANY INFORMATION
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H.D. SHARMAN LIMITED
CONTENTS
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H.D. SHARMAN LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
This is a balanced and comprehensive review of the performance of our business during the year and its position at the year end consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.
Financial overview
The Company achieved an operating profit of £6.0million, ahead of the 2024 comparative of £3.4million. This upturn has resulted from the 29% turnover growth achieved in 2025 coupled with a 1.2% gross margin increase arising from procurement and productivity initiatives. The Directors are pleased with the performance of the business and expect a similar level of performance for the year ahead subject to influence of external economic factors. Turnover Management consider the results for the year to be in line with the overall performance of the market. Operating costs Through effective operational management, operating cost growth relative to 29% turnover growth.
The management of the business and the nature of the Companys strategy are subject to a number of risks. Management have set out below the principal risks facing the business. Where possible, processes are in place to monitor and mitigate such risks.
Economic downturn The success of the business is reliant on demand within the industrial and commercial repair maintenance and improvement (RMI) sector. Macro-economic downturns can result in a reduction of RMI demand and follow on to impact the turnover achieved by the Company. In response to this risk, management aim to keep abreast of economic downturn, marketing and pricing strategies are modified to reflect the new market conditions. Manufacturing of products The Company is reliant on its products being of a high quality and relevance to the demands of the RMI sector. This exposes the Company to risks in a number of areas which are dependant on its manufacturing in respect of: - quality of the products. - pricing of the products. - range of types of product offered. Management are confident that the products produced will be of a continued high quality and will meet the markets demands.
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H.D. SHARMAN LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company measures its financial performance in several areas as follows:
1. Within its offering the busines manufactures, markets and sells a number of roof and gutter refurbishment systems to contractors through a number of different sales channels. In order to measure performance, and to support strategic development, the business segmentally reports its sales and profitability by product. 2. The key aspect of the Company's working capital management is credit control and cash collection. Sales ledger performance is reported monthly with particular focus on overdue balances.
The Company measure its non-financial performance in several areas as follows:
1. New roofing contractor business generation is reported through the numbers trained each month as approved installers. In regards to specification led business generation the number of CPDs delivered to surveyors and other specifiers is published within monthly KPI information. 2. Conversion rate of quotes to orders is reports weekly within the business and is used to drive CRM activity and to understand lost business. The latter is recorded by reason code to best understand market dynamics. 3. Quality control is a business priority throughout the business and monthly meetings take place during which production and non-conformances are quantified in order to identify trends and improvement ideas. The same focus is also applied to customer service issues.
This report was approved by the board on 20 August 2026 and signed on its behalf.
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H.D. SHARMAN LIMITED
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 judgments 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 £4,469,745 (2024 - £2,753,906).
The directors have issued a final dividend of £Nil (2024 - £Nil).
The directors who served during the year were:
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H.D. SHARMAN LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Under section 487(2) of the Companies Act 2006, Price Bailey LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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H.D. SHARMAN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF H.D. SHARMAN LIMITED
We have audited the financial statements of H.D. Sharman Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, the Balance Sheet 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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H.D. SHARMAN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF H.D. SHARMAN LIMITED (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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H.D. SHARMAN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF H.D. SHARMAN LIMITED (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 gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. This included those regulations directly related to the financial statements, including financial reporting, tax legislation and industry regulations including GDPR, employment law, health and safety and warranties. We communicated the identified laws and regulations with the audit team and remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following: - agreeing the financial statement disclosures to underlying supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - enquiries of management including those responsible for key regulations; - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;. In addressing the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness, assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of significant transactions outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation as to what extent the audit was considered capable of detecting irregularities, including fraud.
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.
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H.D. SHARMAN LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF H.D. SHARMAN LIMITED (CONTINUED)
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
Tennyson House
Cambridge Business Park
CB4 0WZ
Date:
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H.D. SHARMAN LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
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H.D. SHARMAN LIMITED
REGISTERED NUMBER: 00945570
BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 11 to 25 form part of these financial statements.
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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
H.D. Sharman Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is 13 Flemming Court, Whistler Drive, Castleford, West Yorkshire, WF10 5HW.
The principal activity of the Company continues to be that of the manufacture of specialist plastic and agricultural products.
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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The Company's functional and presentational currency is GBP.
The financial statements have been rounded to the nearest pound.
The following principal accounting policies have been applied:
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
The directors have prepared projected budgets and on the basis of these budgets, the directors have considered the company to continue to operate as a going concern. The directors are confident that the company will have sufficient funds to meet its liabilities as they fall due for a period of not less than 12 months from the date of approval of these financial statements.
The directors continue to monitor cashflow closely and exercise tight credit control and, based on their forecasts and built up reserves, consider it appropriate to continue to prepare the financial statements on a going concern basis.
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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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.
Amortisation is provided on the following basis:
Computer software - 20 - 25% Straight line
Depreciation is provided on the following basis:
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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H.D. SHARMAN LIMITED
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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H.D. SHARMAN LIMITED
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. 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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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Estimates and judgements are continually evaluated. 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 revision and future periods where the revision affects both current and future periods. Details of the company's significant accounting judgements and critical accouting estimates include: Tangible fixed assets Each year the company reviews the estimated useful lives and residual values of tangible fixed assets and these are adjusted if appropriate. The depreciation rates are calculated according to the useful economic life that management believe to be appropriate based on the nature of the asset in operation. Impairment of stock and work in progress Management have assessed the need to write off or provide against any specific items based on the levels held at period end and the expected sales of such items in the immediate period post year end. Management take into account historic sales data at the date the estimate is made. Impairment of trade debtors The recoverability has been assessed at the period end and up until the date of signing these financial statements. Management have based the decision to provide for any amounts based on their judgement of all the available information and their experience of the specific nature of the trade debtor in question. Categorising leases In categorising leases as finance leases of operating leases, management make judgements to whether significant risks and rewards of ownership to the company as lessee.
0% of the Company's turnover (2024 - 2%) is attributable to geographical markets outside of the United Kingdom.
Analysis of turnover by country of destination:
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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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H.D. SHARMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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