REGISTERED NUMBER: 05091291 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WIL EL MIL ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K M Brown

R T Goode

Ms R Y Walker

SECRETARY:

Ms R Y Walker

REGISTERED OFFICE:

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

BUSINESS ADDRESS:

Unit 7

Ashville Industrial Estate

Bristol Road

Gloucester

Gloucestershire

GL2 5EU

REGISTERED NUMBER:

05091291 (England and Wales)

SENIOR STATUTORY AUDITOR:

Ryan Moore CA

INDEPENDENT AUDITORS:

Randall & Payne LLP

Statutory Auditor

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

97,669

107,582

97,669

107,582

CURRENT ASSETS

Stocks

744,985

664,080

Debtors

6

670,687

238,888

Cash at bank and in hand

749,604

37,701

2,165,276

940,669

CREDITORS

Amounts falling due within one year

7

1,703,121

712,779

NET CURRENT ASSETS

462,155

227,890

TOTAL ASSETS LESS CURRENT LIABILITIES

559,824

335,472

PROVISIONS FOR LIABILITIES

21,902

19,676

NET ASSETS

537,922

315,796

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

507,922

285,796

SHAREHOLDERS' FUNDS

537,922

315,796

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

K M Brown - Director

R T Goode - Director

Ms R Y Walker - Director

1.	STATUTORY INFORMATION

Wil El Mil Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the invoiced value of services provided during the year, stated net of Value Added Tax. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.

Profit attributable to contract activity is recognised if the final outcome of such contracts can be reliably assessed.

Revenue from services provided on a short-term or one-off basis is recognised when the service is complete.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was being amortised evenly over its estimated useful life of twenty years. It has now been fully amortised.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance and 20% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation

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

Pension costs

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.

Going concern

There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern

Provisions for liabilities

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

120,000

AMORTISATION

At 1 January 2024

and 31 December 2024

120,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

474,954

65,362

540,316

Additions

9,994

8,650

18,644

Disposals

-

(16,925

)

(16,925

)

At 31 December 2024

484,948

57,087

542,035

DEPRECIATION

At 1 January 2024

394,766

37,968

432,734

Charge for year

21,218

7,339

28,557

Eliminated on disposal

-

(16,925

)

(16,925

)

At 31 December 2024

415,984

28,382

444,366

NET BOOK VALUE

At 31 December 2024

68,964

28,705

97,669

At 31 December 2023

80,188

27,394

107,582

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

(Unaudited)

£

£

Trade debtors

654,004

218,677

Amounts owed by group undertakings

4,962

2,922

Other debtors

-

640

VAT

-

10,429

Prepayments

11,721

6,220

670,687

238,888

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

(Unaudited)

£

£

Trade creditors

1,261,246

374,361

Amounts owed to group undertakings

297,959

297,959

Corporation Tax

64,076

-

PAYE/NI

14,068

11,906

Pension control

1,606

1,501

VAT

43,292

-

Accruals and deferred income

20,874

27,052

1,703,121

712,779

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

The Report of the Auditors was unqualified.

Ryan Moore CA (Senior Statutory Auditor)

for and on behalf of Randall & Payne LLP

9.	RELATED PARTY DISCLOSURES

There is an amount owed to the ultimate parent company of Wil El Mil Engineering Limited, Columbia Machine Inc. of £297,959 (2023: £297,959). There is also an amount owed to Columbia UK Holdings Limited of £4,962 (2023: £2,922). There are no set repayment terms or interest accruing on these loans.

10.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Columbia UK Holdings Ltd. The ultimate parent undertaking is Columbia Machine Inc.