These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Werit U.K. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Northbank Industrial Park, Darby Road, Irlam, Manchester, M44 5BP.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. A letter of support has also been obtained from the Company's parent company WERIT VTG guaranteeing intercompany loans to the total value of £1,804,022 will not be demanded in full for at least a 12 month period from the balance sheet date. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Revenue 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 revenue can be measured 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 reliably.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Assets under construction are stated at cost and are not depreciated until the asset is available for use. Cost includes all directly attributable expenditure necessary to bring the asset to its intended working condition. This includes the cost of materials, direct labour. Where applicable, borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalised.

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.

Cost is calculated using the first in, first out (FIFO) method.

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.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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 leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was:

During the year £162,892 (2023 - £NIL) of interest costs directly attributable to the financing of freehold property developments were capitalised. The total capitalised interest at 31 December 2024 was £162,892 (2023 - £NIL).

All liabilities outstanding to Werit Kunststoffwerke W.Schneider GmbH & Co. KG, Altenkirchen, are secured by the company by way of a legal charge on the company property.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Amounts contracted for but not provided in the financial statements:

Werit VTG mbh, Traiskirchen have a 100% (2023, 100%), shareholding in Werit UK Limited.

Purchases totalling £121,438 (2023, £153,619) were purchases from Werit VTG mbh, Traiskirchen in the year. The balance outstanding at the year end was £NIL (2023, £1,877,244).

Sales totalling £51,815.19 (2023, £13,616.32) were made to Werit Kunststoffwerke W.Schneider GmbH & Co. KG, Altenkirchen in the year. The balance outstanding at the year end was £34,607 (2023, £13,616).

Loans totalling £1,804,022 (2023: NIL) were due to Werit VTG mbh, Traiskirchen at the year end, the loan is interest free and repayable on demand.

WERIT Handels Gmbh are part of the WERIT group, all transactions were made on a normal trading basis.

Drawdown on loans of £4,976,836 (2023:£NIL) were made during the year from WERIT Handels Gmbh the total loan balance outstanding at the year end was £4,976,836 (2023:NIL), the loan is secured through a collateral transfer agreement and interest is charged at 2.5% above the base rate of the Federal Republic of Germany. Interest charges of £168,982 (2023: NIL) have been capitalised against the asset on which the loan relates.

Purchases totalling £1,489,247 (2023, 401,936.35) were bought from Werit Kunststoffwerke W.Schneider GmbH & Co. KG, Altenkirchen in the year. The balance outstanding at the year end was £326,925 (2023, £401,936).

All liabilities outstanding to Werit Kunststoffwerke W.Schneider GmbH & Co. KG, Altenkirchen, are secured by the company by way of a legal charge on the company property.

Werit Kunststoffwerke W.Schneider GmbH & Co. KG, Altenkirchen are part of the Werit Group, and all transactions were made on a normal trading basis.

Purchases totalling £32,998 (2023, £38,678.11 ) were bought from Werit Wissembourg SAS in the year. The balance outstanding at the year end was £Nil (2023, £38,678).

Werit Wissembourg SAS are part of the Werit Group, and all transactions were made on a normal trading basis.

Balance of loans outstanding at the year end to Werit (Schweiz) AG, (Formerly Isoplex AG), was £270,285 (2023, £269,675). No loans were received in the year (2023, £Nil).

Werit (Schweiz) AG (Formerly Isoplex AG), are part of the Werit Group, and all transactions are made on a normal trading basis.

Purchases totalling £1,718 (2023 £Nil) were bought from Werit Polska Sp z o.o. in the year. The balance outstanding at the year-end was £1,718 (2023: £NIL).

Werit Polska Sp z o.o. are part of the Werit Group, and all transactions were made on a normal trading basis.

Management charges totalling £71,469 (2023, £34,241), were paid to Dr. Helmhold Schneider, Grunstücks GmbH & Co. KG, Altenkirchen during the year. The balance outstanding at the year end was £1,872 (2023, £1,641).

Dr. Helmhold Schneider, Grunstücks GmbH & Co. KG, Altenkirchen are part of the Werit Group, and all transactions were made on a normal trading basis.

The parent undertaking is Werit Vertriebsgesellschaft Mbh, a company incorporated in Austria.