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REGISTERED NUMBER: 00450581 (England and Wales)



















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

CASTOLIN EUTECTIC LIMITED

CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CASTOLIN EUTECTIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mr N Cund
Mr M Melcer





REGISTERED OFFICE: Unit 3 Oak Tree Park
Moons Moat North Industrial Estate
Redditch
B98 9NW





REGISTERED NUMBER: 00450581 (England and Wales)





AUDITORS: E R Grove & Co Limited
Chartered Accountants and Statutory Auditors
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,629 24,705
23,629 24,705

CURRENT ASSETS
Stocks 118,026 119,686
Debtors 6 299,618 332,173
Cash at bank 166,051 123,123
583,695 574,982
CREDITORS
Amounts falling due within one year 7 737,960 715,209
NET CURRENT LIABILITIES (154,265 ) (140,227 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(130,636

)

(115,522

)

CREDITORS
Amounts falling due after more than one
year

8

(2,028,933

)

(2,028,933

)

PENSION ASSET 12 1,087,709 1,083,290
NET LIABILITIES (1,071,860 ) (1,061,165 )

CAPITAL AND RESERVES
Called up share capital 2,369,539 2,369,539
Share premium 10 1,633,331 1,633,331
Retained earnings 10 (5,074,730 ) (5,064,035 )
SHAREHOLDERS' FUNDS (1,071,860 ) (1,061,165 )

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 23rd May 2025 and were signed on its behalf by:





Mr N Cund - Director


CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Castolin Eutectic 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.

The company meets its day to day working capital requirements through cash generated from operations and intra group borrowings.

The directors believe that there is no material uncertainty in relation to going concern and that the company has adequate financial resources to continue in operational existence for at least twelve months from the date of signing the financial statements and therefore the directors believe it remains appropriate to prepare the financial statements on a going concern basis. A letter of support has also been received from the parent company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property
Plant and machinery - at varying rates on cost
Fixtures and fittings - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

2. ACCOUNTING POLICIES - continued

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 benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors, including, but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The asset recognised in the Balance Sheet in respect of the defined benefit plan is the adjusted fair value of plan assets at the reporting date less the present value of the defined benefit obligation.

The fair value of plan assets is measured in accordance with the FRS102 fair value hierarchy. This includes the use of appropriate valuation techniques.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments (discount rate).

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in the profit and loss as Interest on pension scheme assets/liabilities.

Defined contribution pension plan

The company also operates a defined contribution pension scheme and the pension charges represent the amount payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1st January 2024
and 31st December 2024 5,475
AMORTISATION
At 1st January 2024
and 31st December 2024 5,475
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st January 2024 33,752 54,416 554 88,722
Additions 7,870 - - 7,870
At 31st December 2024 41,622 54,416 554 96,592
DEPRECIATION
At 1st January 2024 33,752 29,711 554 64,017
Charge for year 2,818 6,128 - 8,946
At 31st December 2024 36,570 35,839 554 72,963
NET BOOK VALUE
At 31st December 2024 5,052 18,577 - 23,629
At 31st December 2023 - 24,705 - 24,705

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 264,327 288,205
Other debtors 35,291 43,968
299,618 332,173

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 355,014 353,951
Amounts owed to group undertakings 296,308 260,638
Taxation and social security 36,250 40,234
Other creditors 50,388 60,386
737,960 715,209

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,028,933 2,028,933

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 59,535 44,120
Between one and five years 86,178 95,932
145,713 140,052

CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1st January 2024 (5,064,035 ) 1,633,331 (3,430,704 )
Deficit for the year (493,574 ) (493,574 )
Actuarial gain/loss 482,879 - 482,879
At 31st December 2024 (5,074,730 ) 1,633,331 (3,441,399 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Stafford (Senior Statutory Auditor)
for and on behalf of E R Grove & Co Limited

12. EMPLOYEE BENEFIT OBLIGATIONS

The company operated a defined benefit scheme.

The contributions are determined by a qualified actuary using the Projected Unit Credit method. The most recent valuation was as at 31st December 2024. The company is not currently paying contributions following the calculation of the pension surplus.

The final salary scheme is closed to new members and there are no active members. No other post-retirement benefit are provided. The scheme is a funded scheme.

The amounts recognised in profit or loss are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Current service cost - -
Net interest from net defined benefit
asset/liability

(35,540

)

(80,142

)
Past service cost - -
Administration costs - 268,190
(35,540 ) 188,048

Actual return on plan assets (40,000 ) 427,200

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Opening defined benefit obligation 5,027,000 5,103,200
Interest cost 208,000 235,000
Actuarial losses/(gains) (108,000 ) 219,800
Benefits paid (678,000 ) (531,000 )
Past service costs awarded and recognised
during the year

302,000

-
4,751,000 5,027,000

CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

12. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the fair value of scheme assets are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Opening fair value of scheme assets 7,214,000 7,375,800
Contributions by employer - 75,000
Interest income / cost 291,000 343,000
Benefits paid (678,000 ) (531,000 )
Administration costs (212,000 ) (133,000 )
Return on plan assets (excluding interest
income)

(331,000

)

84,200
6,284,000 7,214,000

The amounts recognised in other comprehensive income are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Return on plan assets (excluding interest
income)

(331,000

)

84,200
Actuarial gains/(losses) 108,000 (219,800 )
Asset ceiling 705,879 (501,457 )
482,879 (637,057 )

The major categories of scheme assets as amounts of total scheme assets are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Cash & other asset investments 219,000 82,000
Bond/income funds 4,191,000 5,124,000
Equity funds 1,874,000 2,008,000
6,284,000 7,214,000

2024 2023
£ £

Fair value plan assets 6,284,000 7,214,000
Present value plan asset (4,751,000 ) (5,027,000 )
Asset ceiling (445,291 ) (1,103,710 )
Net pension scheme asset 1,087,709 1,083,290

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2024 2023
Discount rate 5.00% 4.30%
Future pension increases 3.45% 3.30%
Expected long term inflation 2.60% 2.60%

CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

13. RELATED PARTY DISCLOSURES

2024 2023
£ £

Amounts due to holding company 2,325,241 2,289,571

These transactions have not been concluded under normal market conditions.

14. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Castolin Eutectic GmBH a company registered in Germany.

The company's ultimate parent undertaking and controlling party is Paragon Partners GmBH, a company incorporated in Germany. Copies of the group financial statements may be obtained from its registered office: Leopoldstrasse 10, D 80802, Munich, Germany.