REGISTERED NUMBER: 00902520 (England and Wales)

Tipmaster Limited

Financial Statements

for the Year Ended 31 December 2025

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

I H Terry

B Terry

J I Terry

M E Terry

S H Terry

Secretary:

G F Ellis

Registered office:

Rigg Approach

Lea Bridge Road

Leyton

E10 7QN

Registered number:

00902520 (England and Wales)

Auditors:

Clay Ratnage Strevens & Hills

Chartered Accountants and

Statutory Auditor

Construction House, Runwell Road

Wickford

Essex

SS11 7HQ

Fixed assets

Intangible assets

4

2,683

1,633

Tangible assets

5

958,596

1,046,151

961,279

1,047,784

Current assets

Stock

6

280,867

275,627

Debtors

7

716,536

471,772

Cash at bank

47,021

6,956

1,044,424

754,355

Creditors

Amounts falling due within one year

8

669,876

347,141

Net current assets

374,548

407,214

Total assets less current liabilities

1,335,827

1,454,998

Creditors

Amounts falling due after more than one year

9

(682,095

)

(779,424

)

Provisions for liabilities

10

-

(24,549

)

Net assets

653,732

651,025

Capital and reserves

Called up share capital

50,000

50,000

Retained earnings

603,732

601,025

653,732

651,025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

S H Terry - Director

1.	Statutory information

Tipmaster Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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 under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance methods.

Depreciation is provided at the following rates:

Leasehold improvements

- 4% straight line

Plant and machinery

- 20% reducing balance

Motor vehicles

- 25% reducing balance

Computer equipment

- 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress includes labour and attributable overheads.

At each balance sheet date, stock is are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of income and retained earnings.

Financial instruments

The company has elected to apply Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, including trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently carried at amortised cost using the effective interest method, less any impairment provision. Where an arrangement constitutes a financing transaction, whereby payment is deferred beyond normal business terms, it is measured at the present value of future receipts discounted at a market rate of interest. Discounting is omitted where the effect is immaterial.

Impairment of financial assets

Financial assets are assessed for impairment at each reporting date. An impairment loss arises where events subsequent to initial recognition indicate that estimated future cash flows have been adversely affected, and is measured as the difference between the carrying amount and the present value of future cash flows at the original effective interest rate. Where the indicators of impairment subsequently reverse, the impairment loss may be reversed up to the original carrying amount, and is recognised in profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of their contractual arrangements. An equity instrument is any contract that evidences a residual interest in the assets of the company after deduction of all its liabilities.

Basic financial liabilities, including trade and other payables and bank and other loans, are initially measured at transaction price after transaction costs, or where a financing transaction exists, at the present value of future payments discounted at a market rate of interest. Discounting is omitted where the effect is immaterial. All debt instruments, including trade payables, are subsequently carried at amortised cost using the effective interest method.

Trade payables are classified as current liabilities where payment is due within one year, and as non-current liabilities otherwise.

Derecognition of financial instruments

Financial assets are derecognised when contractual rights to future cash flows expire, are settled, or when the asset and substantially all risks and rewards of ownership are transferred to another party. Where significant risks and rewards are retained, the relevant portion continues to be recognised. Financial liabilities are derecognised when the related contractual obligations are discharged, cancelled or expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and nonmonetary items measured at fair value are measured using the exchange rate when fair value was determined.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3.	Employees and directors

The average number of employees during the year was 40 (2024 - 41 ) .

4.	Intangible fixed assets

Patents

and

licences

£

Cost

At 1 January 2025

and 31 December 2025

38,827

Amortisation

At 1 January 2025

37,194

Amortisation for year

167

Charge written back

(1,217

)

At 31 December 2025

36,144

Net book value

At 31 December 2025

2,683

At 31 December 2024

1,633

5.	Tangible fixed assets

Leasehold

Plant and

Motor

Computer

improvements

machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2025

719,867

1,002,083

415,364

64,790

2,202,104

Additions

49,494

37,641

-

2,252

89,387

Disposals

-

(14,800

)

(182,870

)

-

(197,670

)

At 31 December 2025

769,361

1,024,924

232,494

67,042

2,093,821

Depreciation

At 1 January 2025

127,748

702,181

268,751

57,273

1,155,953

Charge for year

29,684

62,171

30,720

2,032

124,607

Eliminated on disposal

-

(14,209

)

(131,126

)

-

(145,335

)

At 31 December 2025

157,432

750,143

168,345

59,305

1,135,225

Net book value

At 31 December 2025

611,929

274,781

64,149

7,737

958,596

At 31 December 2024

592,119

299,902

146,613

7,517

1,046,151

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

2025

2024

£

£

Plant and machinery

73,091

91,364

Motor vehicles

50,197

127,107

123,288

218,471

6.

Stock

2025

2024

£

£

Raw materials and consumables

280,867

275,627

7.

Debtors

2025

2024

£

£

Trade debtors

524,463

276,483

Other debtors

192,073

195,289

716,536

471,772

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Hire purchase contracts

28,551

75,150

Trade creditors

124,295

115,963

Amounts owed to group undertakings

100,000

-

Taxation and social security

122,652

114,397

Other creditors

294,378

41,631

669,876

347,141

9.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Hire purchase contracts

14,276

109,911

Amounts owed to group undertakings

667,819

669,513

682,095

779,424

10.	Provisions for liabilities

2025

2024

£

£

Deferred tax

-

24,549

Deferred

tax

£

Balance at 1 January 2025

24,549

Released during the year

(24,549

)

Balance at 31 December 2025

-

11.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Laura Main (Senior Statutory Auditor)

for and on behalf of Clay Ratnage Strevens & Hills

12.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £27,168 (2024 - £23,688). There were no contributions (2024 - £4,591) payable to the fund at the balance sheet date.

13.	Related party transactions

The directors have elected to take advantage of the exemption as set out in paragraph 33.1A of FRS 102, and have therefore not disclosed transactions with wholly owned members of the group.

14.	Controlling party

The ultimate parent undertaking as at the balance sheet date is Crownfield Holdings Limited which is incorporated in England and Wales. Its registered office is Thurston Building, Hallsford Bridge Industrial Estate, Ongar, Essex, CM5 9RB.

The ultimate controlling parties are I H Terry and J I Terry who are directors of the company.