REGISTERED NUMBER: 00715801 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Westlands Casting Co Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J C Laverick

R J Yorke

SECRETARY:

J C Laverick

REGISTERED OFFICE:

Vaux Road

Finedon Road Industrial Estate

Wellingborough

Northamptonshire

NN8 4TG

REGISTERED NUMBER:

00715801 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Kepier House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Intangible assets

4

5,194

6,319

Tangible assets

5

285,574

218,687

290,768

225,006

CURRENT ASSETS

Stocks

6

110,228

102,537

Debtors

7

79,035

387,312

Cash at bank

423,004

139,198

612,267

629,047

CREDITORS

Amounts falling due within one year

8

(251,171

)

(271,124

)

NET CURRENT ASSETS

361,096

357,923

TOTAL ASSETS LESS CURRENT LIABILITIES

651,864

582,929

PROVISIONS FOR LIABILITIES

10

(51,865

)

(37,508

)

NET ASSETS

599,999

545,421

CAPITAL AND RESERVES

Called up share capital

11

300

300

Share premium

600

600

Revaluation reserve

13,400

14,046

Retained earnings

585,699

530,475

SHAREHOLDERS' FUNDS

599,999

545,421

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.

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 12 September 2025 and were signed on its behalf by:

R J Yorke - Director

1.	STATUTORY INFORMATION

Westlands Casting Co 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.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Turnover

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

Income recognition

Turnover represents the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on delivery of goods.

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 seven years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks and work in progress

Stock and work in progress are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

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.

Leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

7,500

AMORTISATION

At 1 January 2024

1,181

Amortisation for year

1,125

At 31 December 2024

2,306

NET BOOK VALUE

At 31 December 2024

5,194

At 31 December 2023

6,319

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2024

182,760

239,090

5,856

427,706

Additions

12,975

120,834

1,009

134,818

At 31 December 2024

195,735

359,924

6,865

562,524

DEPRECIATION

At 1 January 2024

88,829

116,220

3,970

209,019

Charge for year

3,915

63,450

566

67,931

At 31 December 2024

92,744

179,670

4,536

276,950

NET BOOK VALUE

At 31 December 2024

102,991

180,254

2,329

285,574

At 31 December 2023

93,931

122,870

1,886

218,687

The company has adopted the transition exemption under FRS 102 and has elected to use a previous revaluation as deemed cost.

The historical cost analysis of the land and buildings valued at the date of transition to FRS102 using the deemed cost exemption:

2024

2023

£

£

Cost

150,000

150,000

Accumulated depreciation

(87,750

)

(84,750

)

Carrying value

62,250

65,250

6.

STOCKS

2024

2023

£

£

Stocks

51,222

53,237

Work-in-progress

59,006

49,300

110,228

102,537

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

55,175

48,260

Amounts owed by group undertakings

-

330,988

Other debtors

5,978

5,516

Prepayments and accrued income

17,882

2,548

79,035

387,312

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

197,130

192,076

Amounts owed to group undertakings

4,241

-

Taxation and social security

27,066

55,602

Other creditors

4,576

11,187

Accruals and deferred income

18,158

12,259

251,171

271,124

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

-

1,791

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

51,865

37,508

Deferred

tax

£

Balance at 1 January 2024

37,508

Accelerated capital allowances

14,357

Balance at 31 December 2024

51,865

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

300

Ordinary

£1.00

300

300

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of 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 or those concluded under normal market conditions.

13.	ULTIMATE PARENT COMPANY

The company is a subsidiary undertaking of Teescraft Engineering Limited, Unit 2, South Church Enterprise Park, Bishop Auckland, County Durham, DL14 6XB.