REGISTERED NUMBER: 02427750 (England and Wales)

WENTLOOG INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G Hannah

A J Phillips

C Bryan

P Postle

SECRETARY:

P G Hannah

REGISTERED OFFICE:

C/O Resource Limited

The Maltings

East Tyndall Street

CARDIFF

CF24 5EA

REGISTERED NUMBER:

02427750 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

737,760

773,406

Investments

5

541,178

541,178

Investment property

6

14,519,500

14,519,500

15,798,438

15,834,084

CURRENT ASSETS

Debtors

7

12,588,786

18,062,923

Cash at bank

68

2,412,957

12,588,854

20,475,880

CREDITORS

Amounts falling due within one year

8

(8,575,161

)

(15,392,575

)

NET CURRENT ASSETS

4,013,693

5,083,305

TOTAL ASSETS LESS CURRENT LIABILITIES

19,812,131

20,917,389

CREDITORS

Amounts falling due after more than one year

9

(10,476,327

)

(10,735,240

)

PROVISIONS FOR LIABILITIES

11

(717,009

)

(688,260

)

NET ASSETS

8,618,795

9,493,889

CAPITAL AND RESERVES

Called up share capital

12

85,000

85,000

Share premium

2,107,285

2,107,285

Non-distributable reserve

3,701,203

3,701,203

Retained earnings

2,725,307

3,600,401

SHAREHOLDERS' FUNDS

8,618,795

9,493,889

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 30 September 2025 and were signed on its behalf by:

P Postle - Director

1.	STATUTORY INFORMATION

Wentloog Investments 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 company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

There have been no material departures from the Financial Reporting Standard 102 1A.

Preparation of consolidated financial statements

The financial statements contain information about Wentloog Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

The turnover shown in the profit and loss account represents rent receivable for the year, exclusive of Value Added Tax.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery

10% straight line

Motor vehicles

20% straight line

Other site assets

Not depreciated

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Other

Plant and

and

site

machinery

Fittings

assets

Totals

£

£

£

£

COST

At 1 January 2024

747,487

30,698

88,641

866,826

Additions

43,989

-

-

43,989

At 31 December 2024

791,476

30,698

88,641

910,815

DEPRECIATION

At 1 January 2024

62,653

30,211

556

93,420

Charge for year

79,148

487

-

79,635

At 31 December 2024

141,801

30,698

556

173,055

NET BOOK VALUE

At 31 December 2024

649,675

-

88,085

737,760

At 31 December 2023

684,834

487

88,085

773,406

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

541,178

NET BOOK VALUE

At 31 December 2024

541,178

At 31 December 2023

541,178

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

14,519,500

NET BOOK VALUE

At 31 December 2024

14,519,500

At 31 December 2023

14,519,500

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

14,519,500

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

10,253,812

10,253,812

Investment property was valued on an open market basis on 17 April 2022 by appointed Registered Valuers .

In the opinion of the Directors, the fair value of the property is unchanged from the April 2022 formal valuation.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

46,790

52,028

Other debtors

672,910

894,614

Amounts due from related

parties

11,788,240

17,066,443

VAT

9,119

-

Prepayments and accrued income

71,727

49,838

12,588,786

18,062,923

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank overdraft

85,354

-

Hire purchase contracts

99,117

113,819

VAT

-

110,453

Trade creditors

62,002

49,127

Amounts owed to group undertakings

2,058,603

4,964,653

Amounts due to related parties

320,223

3,181,354

Commercial loan

611,140

267,985

Other secured loan

5,138,659

6,539,856

Accruals and deferred income

200,063

165,328

8,575,161

15,392,575

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Commercial loan - 2-5 years

2,578,918

5,185,077

Commercial loan > 5 years

7,603,007

5,176,420

Hire purchase contracts

294,402

373,743

10,476,327

10,735,240

Amounts falling due in more than five years:

Repayable by instalments

Commercial loan > 5 years

7,603,007

5,176,420

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

393,519

487,562

Other secured loan

5,138,659

6,539,856

Commercial loan

10,301,482

10,629,482

15,833,660

17,656,900

The borrowings are secured by way of a fixed and floating charge over the company's assets.

11.	PROVISIONS FOR LIABILITIES

Provisions for liabilities relate solely to deferred tax.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

85,000

Ordinary

£1

85,000

85,000

13.	CONTINGENT LIABILITIES

There is an unlimited cross guarantee in place between Wentloog Investments Limited, Euro Clad (Developments) Limited and Wentloog Properties Limited in respect of a commercial loan. No liabilities are expected to arise in the foreseeable future.

14.	OTHER FINANCIAL COMMITMENTS

The following lease payments are committed to under non-cancellable leases as follows:

2024

2023

£

£

Due within 1 year

135,200

135,200

Due between 1 and 5 years

540,800

540,800

Due after more than 5 years

766,133

901,333

1,442,133

1,577,333