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REGISTERED NUMBER: 10764853 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

WELDLAG LIMITED

WELDLAG LIMITED (REGISTERED NUMBER: 10764853)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

WELDLAG LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: P A Whitfield
P Clarkson





REGISTERED OFFICE: Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB





REGISTERED NUMBER: 10764853 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB

WELDLAG LIMITED (REGISTERED NUMBER: 10764853)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 315,911 255,654

CURRENT ASSETS
Debtors 5 266,147 274,500
Cash at bank and in hand 60,556 66,521
326,703 341,021
CREDITORS
Amounts falling due within one year 6 305,263 273,563
NET CURRENT ASSETS 21,440 67,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,351

323,112

CREDITORS
Amounts falling due after more than one
year

7

158,111

155,583
NET ASSETS 179,240 167,529

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 179,140 167,429
179,240 167,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WELDLAG LIMITED (REGISTERED NUMBER: 10764853)

BALANCE SHEET - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





P A Whitfield - Director


WELDLAG LIMITED (REGISTERED NUMBER: 10764853)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Weldlag 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.

Income recognition
Income is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


WELDLAG LIMITED (REGISTERED NUMBER: 10764853)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 18,000 9,327 326,501 353,828
Additions - - 209,167 209,167
Disposals - - (163,907 ) (163,907 )
At 31 May 2024 18,000 9,327 371,761 399,088
DEPRECIATION
At 1 June 2023 13,282 3,697 81,195 98,174
Charge for year 944 1,126 24,616 26,686
Eliminated on disposal - - (41,683 ) (41,683 )
At 31 May 2024 14,226 4,823 64,128 83,177
NET BOOK VALUE
At 31 May 2024 3,774 4,504 307,633 315,911
At 31 May 2023 4,718 5,630 245,306 255,654

WELDLAG LIMITED (REGISTERED NUMBER: 10764853)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 212,198 200,834
Other debtors 51,513 73,666
Prepayments and accrued income 2,436 -
266,147 274,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 71,992 131,021
Hire purchase contracts 38,904 57,332
Trade creditors 57,438 70,795
Taxation and social security 68,777 9,986
Other creditors 68,152 4,429
305,263 273,563

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 27,779 33,334
Hire purchase contracts 128,635 121,176
Other creditors 1,697 1,073
158,111 155,583

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,556 11,111

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WELDLAG LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Weldlag Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Weldlag Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Weldlag Limited and state those matters that we have agreed to state to the Board of Directors of Weldlag Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Weldlag Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Weldlag Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Weldlag Limited. You consider that Weldlag Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Weldlag Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB


25 February 2025