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REGISTERED NUMBER: 03756447 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Foster & Company Weldtech Limited

Foster & Company Weldtech Limited (Registered number: 03756447)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Foster & Company Weldtech Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R G Foster
C R Foster
J Baxter
S R Irwin





REGISTERED OFFICE: Matrix House
Gelders Hall Road
Shepshed
Loughborough
Leicestershire
LE12 9NH





REGISTERED NUMBER: 03756447 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Foster & Company Weldtech Limited (Registered number: 03756447)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 138,092 192,491
138,092 192,491

CURRENT ASSETS
Stocks 622,850 527,128
Debtors 6 2,460,313 1,537,689
Cash at bank and in hand 696,613 775,663
3,779,776 2,840,480
CREDITORS
Amounts falling due within one year 7 (1,698,742 ) (1,638,012 )
NET CURRENT ASSETS 2,081,034 1,202,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,219,126

1,394,959

CREDITORS
Amounts falling due after more than one
year

8

(8,516

)

(19,140

)

PROVISIONS FOR LIABILITIES (26,159 ) (38,249 )
NET ASSETS 2,184,451 1,337,570

CAPITAL AND RESERVES
Called up share capital 10,104 10,104
Share premium 5,304 5,304
Retained earnings 2,169,043 1,322,162
2,184,451 1,337,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Foster & Company Weldtech Limited (Registered number: 03756447)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:





J Baxter - Director


Foster & Company Weldtech Limited (Registered number: 03756447)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Foster & Company Weldtech 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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover 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 turnover can be measure 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 reliable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of ten years.

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.

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 - 10% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.


Foster & Company Weldtech Limited (Registered number: 03756447)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

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 19 (2023 - 22 ) .

Foster & Company Weldtech Limited (Registered number: 03756447)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 125,000
AMORTISATION
At 1 January 2024
and 31 December 2024 125,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2024 8,803 305,842 276,956 591,601
Additions - 4,519 - 4,519
At 31 December 2024 8,803 310,361 276,956 596,120
DEPRECIATION
At 1 January 2024 999 279,328 118,783 399,110
Charge for year 880 6,599 51,439 58,918
At 31 December 2024 1,879 285,927 170,222 458,028
NET BOOK VALUE
At 31 December 2024 6,924 24,434 106,734 138,092
At 31 December 2023 7,804 26,514 158,173 192,491

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 1,435,226 1,451,429
Amounts owed by group undertakings 935,274 35,274
Other debtors 89,813 50,986
2,460,313 1,537,689

Other debtors includes prepayments and accrued income of £89,813 (2023: £50,980).

Foster & Company Weldtech Limited (Registered number: 03756447)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Finance leases 10,624 9,847
Trade creditors 1,047,517 990,089
Taxation and social security 473,908 491,024
Other creditors 166,693 147,052
1,698,742 1,638,012

Other creditors includes accruals and deferred income of £112,839 (2023: £90,322).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Finance leases 8,516 19,140

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Finance leases 19,140 28,987

Obligations under finance lease contracts are secured on the assets to which they relate.

10. OTHER FINANCIAL COMMITMENTS

The company has guaranteed amounts due of £2,450,000 (2023: £3,350,000) on behalf of its parent undertaking.

11. OPERATING LEASE COMMITMENTS

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £125,816 (2023: £245,075).

12. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Foster Industrial Holdings Limited, a company incorporated in England. The address of its registered office is Matrix House, Gelders Hall Road, Shepshed, Loughborough, LE12 9NH.