The directors present the strategic report for the year ended 31 December 2025.
During the year under review, the parent company's principal activity continued to be the sale of equestrian products.
The group's turnover decreased by 3.6% to £24.4m (2024: £25.3m) with an increased profit before tax of £593k (2024: £302k).
The activity of the 90.48% subsidiary company in the People's Republic of China, Nevada Blanket Manufacturing (Xiamen) Co Limited, continued to be the manufacture of equestrian products. The turnover decreased to £1.02m (2024: £1.1m) resulting in a loss before tax of £12k (2024: loss of £89k).
The activity of the 100% subsidiary company in the US, Shires Equestrian Inc. continued to be the sale of equestrian products. The turnover for the year amounted to £4.9m (2024: £4.6m) resulting in a loss before tax of £200k (2024: loss of £104k).
The 100% subsidiary in the US, 36BR Realty Inc. rented premises to the US subsidiary Shires Equestrian Inc. The rental income for the year amounted to £56.7k (2024: £58k) resulting in a profit before tax of £31k (2024: £29k).
The activity of the 100% subsidiary company in Ireland, Shires Equestrian (Ireland) Limited. continued to be the sale of equestrian products. The turnover for the year amounted to £1.4m (2024: £1.6m) resulting in a profit before tax of £141k (2024: £91k).
The group owns 33.3% of Nantong Mario Lentini Garment Decoration Co Limited, a company incorporated in the People's Republic of China. The activity of Nantong Mario Lentini Garment Decoration Co Limited continued to be the manufacture of equestrian products.
The group continued its policy of investing funds in research and development to increase its product range and improve its product range.
The principal risks and uncertainties faced by the group are brought about by:
(a) foreign exchange risk since the majority of the group purchases are imports and the majority of these are imported in US dollars, and
(b) the global unrest affecting the supply chain.
The directors have taken the appropriate measures to hedge against adverse exchange rate movements, minimise the effect of Brexit and relationships with customers and suppliers within the EU remain good. The directors believe that the group is financially sound and should be able to overcome any problems. The group ensures that it complies with all regulations and legislations relating to the industry.
The group uses the following key performance indicators to assess performance:
| 2025 | 2024 |
| £ | £ |
Operating profit | 708,028 | 126,808 |
| Days | Days |
Stock turn (in days) | 213 | 214 |
Debtor days | 37 | 38 |
Creditor days | 76 | 77 |
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 December 2025.
The results for the year are set out on page 8.
The results for the year were satisfactory despite current economic trends.
In an effort to keep ahead of the opposition in a very competitive market, the group is continually undertaking research and development to further develop and improve products.
During 2024, the group purchased a warehouse in Ireland, which is owned by the subsidiary Shires Equestrian (Ireland) Limited. The purchase was funded from existing group cash resources and the warehouse was operational during the last quarter of the 2024 financial year.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The company is exposed to foreign exchange risk since the majority of its purchases are imports and of these, the majority are denominated in US dollars.
The company hedges against adverse exchange rate movements by forward buying the US dollar.
To mitigate exposure to price risk relating to goods bought from overseas, the group employs a purchasing manager in China to enable company to obtain competitive purchase prices.
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 group and parent company, and of the profit or loss of the group for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have audited the financial statements of M.J.Ainge & Co.Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group 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).
Basis for opinion
Conclusions relating to going concern
Other information
Opinions on other matters prescribed by the Companies Act 2006
As explained more fully in the directors' responsibilities statement, 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 group's and parent 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 group or parent company or to cease operations, or have no realistic alternative but to do so.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or operations of the company and group, including the Companies Act 2006 and taxation legislation and;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where their knowledge of actual, suspected and alleged fraud; and
considering internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual transactions or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
reading the minutes of meetings of those charged with governance; and
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through conclusion.
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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £573,435 (2024 - £230,378 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
M.J.Ainge & Co.Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 15 Southern Avenue, Leominster, Herefordshire, HR6 0QF.
The group consists of M.J.Ainge & Co.Limited and all of its subsidiaries.
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The consolidated group financial statements consist of the financial statements of the parent company M.J.Ainge & Co.Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
At the time of approving the financial statements, the directors have a reasonable expectation that the group and parent company have adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
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.
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 recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the parent company financial statements, investments in associates are accounted for at cost less impairment.
Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
At each reporting period end date, the group reviews the carrying amounts of its tangible 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. The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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, 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.
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.
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.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group 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.
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 group after deducting all of its 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group 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 group.
The tax expense represents the sum of the tax currently payable and deferred 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 if, and only if, there is 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.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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 leased asset are consumed.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
In the application of the group’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.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Provisions are calculated for slow moving and obsolete stock are calculated using management's estimates of the net realisable values which can achieved for the relevant items. The estimates are based on management's judgement and experience in the industry.
In 2024, foreign exchange gains of £194,930 included a profit of £206,492 relating to the changes in the fair values of derivative financial instruments. From 2025 onwards the gains and losses will be shown separately on the face of the profit and loss account.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 3).
Further details on gains or losses on financial instruments are provided in note 16 to the financial statements.
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:
The 2024 current tax charge includes adjustments in relation to prior periods relating to research and development tax credits and double taxation relief.
The company's fixed assets with a carrying amount of £3,307,212 (2024 - £3,132,524) have been pledged to secure bank loans and overdrafts of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.
Group: Freehold property includes land with a cost of £1,588,084 (2024: £1,588,084) which is not depreciated.
Company: Freehold property includes land with a cost of £1,259,514 (2024: £1,259,514) which is not depreciated.
Details of the company's subsidiaries at 31 December 2025 are as follows:
Details of associates at 31 December 2025 are as follows:
The change in fair value recognised in the profit and loss account in the year is a loss of £128,783 (2024: profit of £206,492).
Derivative financial assets and liabilities measured through the profit and loss account comprises forward foreign currency contracts to hedge currency exposures on future purchase commitments.
The fair value of the assets and liabilities held at fair value through profit and loss at the balance sheet date are determined using quoted prices. Where quoted prices are not available for derivatives, the fair values of derivatives has been calculated by discounting the expected future net cash flows at prevailing interest rates.
The bank loans and overdrafts totalling £259,360 (2024 - £367,992) are secured by a charge over 15 Southern Avenue, Hereford, HR6 0QF; a charge over 2 Southern Avenue, Hereford, HR6 0QF; and a charge over all assets of the parent company.
The bank loan matures on 1 February 2028 and is repayable by instalments. Interest on the loan is charged at 0.8% above the bank's base rate.
The following are the major deferred tax liabilities and assets recognised by the group and company:
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period. Other movements above relate to foreign currency translation differences.
The amount of unused federal tax losses carried forward is £318,708 relating to Shires Equestrian Inc which don't expire for approximately 18-20 years. For state taxes, the losses carried forward are £304,813 as well as other credits of approximately £7,426 available to offset profits tax only. These losses relate to 2025 and 2024.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the company repurchased 300 ordinary shares of £1 each resulting in a capital reduction and corresponding increase in the capital redemption reserve.
The capital redemption reserve records the nominal value of shares repurchased by the company.
Profit and loss reserves represent accumulated realised earnings from prior and current periods as reduced by accumulated realised losses and dividends.
Contingencies include a bond, guarantees and indemnities facility of £100,000 in favour of HM Revenue and Customs.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The lease expense incurred during the year was £83,828 (2024: £111,350).
Group
The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.
The group is under the control of Mr M J Ainge.
During the year the group bought purchases totalling £190,279 (2024 - £218,373) from a company in which it holds a participating interest. Included in creditors is £41,440 (2024 - £132,375) owed to this company.
During the year the group sold goods totalling £202 (2024 - £489) to a company under the control of the wife of a director. Included in debtors is £127 (2024 - £587) owed by this company.
During the year the group sold goods totalling £66,766 (2024 - £51,458) to a company under the control of the daughter and son-in-law of the controlling shareholder. Included in debtors is £6,881 (2024 - £8,821) owed by this company.
During the year the group sold goods totalling £4,498 (2024 - £3,280) to, and bought purchases totalling £108,350 (2024 - £152,189) from, a company under the control of a director. Included in debtors is £Nil (2024 - £1,041) owed by this company and included in creditors is £8,505 (2024 - £33,976) owed to this company.
During the year the group paid rent totalling £56,971 (2024 - £58,311) to a company under the control of the controlling shareholder. M.J.Ainge & Co. Limited charged interest at a rate of 4% totalling £7,278 (2024- £8,310) on the amount owed by this company.
Included in debtors is £180,421 (2024 - £202,949) owed by this company.
During the year the group used premises owned by the wife of a director and paid £4,523 (2024 - £14,495) in rent. Included in creditors is £1,111 (2024 - £20,023) owed to the controlling shareholder and his wife, both directors of the company.
The group bought goods totalling £Nil (2024- £1,808) from a company in which the controlling shareholder is a director.
Included in debtors is £7,350 (2024 - £4,719) owed to the other directors of the company.
Company
The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.
The company is under the control of Mr M J Ainge.
During the year the company bought purchases totalling £1,004,154 (2024 - £1,051,660) from a subsidiary company. Included in creditors is £376,457 (2024 - £504,937) owed to this company.
During the year the company bought purchases totalling £190,279 (2024 - £218,373) from a company in which it holds a participating interest. Included in creditors is £41,440 (2024 - £132,375) owed to this company.
During the year the company sold goods totalling £202 (2024 - £489) to a company under the control of the wife of a director. Included in debtors is £127 (2024 - £587) owed by this company.
During the year the company sold goods totalling £66,766 (2024 - £51,458) to a company under the control of the daughter and son-in-law of the controlling shareholder. Included in debtors is £6,881 (2024- £8,821) owed by this company.
During the year the company sold goods totalling £2,098 (2024 - £183) to, and bought purchases totalling £82,770 (2024- £159,136) from, a company under the control of a director. Included in debtors is £Nil (2024- £Nil) owed by this company and included in creditors is £5,549 (2024 - £4,269) owed to this company.
During the year the company charged interest at a rate of 4% totalling £7,278 (2024 - £8,310) on the amount owed by a company under the control of the controlling shareholder. Included in debtors is £180,421 (2024 - £202,949) owed by this company.
Included in creditors is £1,111 (2024 - £20,023) owed to the controlling shareholder and his wife, both directors of the company.
The company bought purchases totalling £Nil (2024- £Nil) from, a company in which the controlling shareholder is a director. Included in creditors is £7,350 (2024 - (£4,719)) owed to the other directors of the company.