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REGISTERED NUMBER: 06069483 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

WELDRITE UK LIMITED

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| WELDRITE UK LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 30 APRIL 2025

| DIRECTORS: | N York

| T A Strange

| SECRETARY: | Mrs M York

| REGISTERED OFFICE: | Units 17 & 18 Matt's Hill Farm

| Matt's Hill Road

| Rainham

| Kent

| ME9 7UY

| REGISTERED NUMBER: | 06069483 (England and Wales)

| ACCOUNTANTS: | George & Co.

| Chartered Accountants

| 44a Joy Lane

| Whitstable

| Kent

| CT5 4LT

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

STATEMENT OF FINANCIAL POSITION

30 APRIL 2025

| 30.4.25 | 30.4.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 702,289 |  | 667,815 |  |

Investments | 5 | - |  | 25 |  |

702,289 |  | 667,840 |  |

CURRENT ASSETS

Stocks | 13,500 |  | 6,600 |  |

Debtors | 6 | 1,490,002 |  | 1,358,333 |  |

Cash at bank | 808,446 |  | 2,234,044 |  |

2,311,948 |  | 3,598,977 |  |

CREDITORS

Amounts falling due within one year | 7 | 753,878 |  | 959,048 |  |

NET CURRENT ASSETS | 1,558,070 |  | 2,639,929 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,260,359 |  | 3,307,769 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (39,882 | ) | - |  |

PROVISIONS FOR LIABILITIES | (106,384 | ) | (92,809 | ) |

NET ASSETS | 2,114,093 |  | 3,214,960 |  |

CAPITAL AND RESERVES

Called up share capital | 310 |  | 312 |  |

Retained earnings | 2,113,783 |  | 3,214,648 |  |

SHAREHOLDERS' FUNDS | 2,114,093 |  | 3,214,960 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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.

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

STATEMENT OF FINANCIAL POSITION - continued

30 APRIL 2025

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

N York - Director

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1. | STATUTORY INFORMATION

| Weldrite UK 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.

| Revenue

| Revenue represents income earned for services provided to customers. Revenue is recognised as earned when, and to the extent that, the company obtains rights to consideration in exchange for its performance under those contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to customers, including recoverable expenses, but excluding value added tax. For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion and relevant contract terms. Unbilled revenue is included in debtors, under 'amounts recoverable on contracts' and revenue billed in advance is included in creditors under 'payments received on account'.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Short leasehold | - | in accordance with the property

| Plant and machinery | - | 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Inventories

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

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

| 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.

| Cash and cash equivalents

| 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.

| Financial instruments

| Financial Instruments are recognised in the company's statement of financial position 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

| Basic financial assets, which include trade and other receivables 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.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including trade and other payables, 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 receipts 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Judgements and key sources of estimation uncertainty

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| The only main accounting estimation known is depreciation, the accounting policy of which is already disclosed elsewhere. The directors based their depreciation estimates on their knowledge and experience of how long assets last.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 30 (2024 - 28 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024 | 254,007 |  | 887,864 |  | 1,141,871 |  |

| Additions | - |  | 191,724 |  | 191,724 |  |

| Disposals | - |  | (73,110 | ) | (73,110 | ) |

| At 30 April 2025 | 254,007 |  | 1,006,478 |  | 1,260,485 |  |

| DEPRECIATION

| At 1 May 2024 | 5,645 |  | 468,411 |  | 474,056 |  |

| Charge for year | 16,934 |  | 140,316 |  | 157,250 |  |

| Eliminated on disposal | - |  | (73,110 | ) | (73,110 | ) |

| At 30 April 2025 | 22,579 |  | 535,617 |  | 558,196 |  |

| NET BOOK VALUE

| At 30 April 2025 | 231,428 |  | 470,861 |  | 702,289 |  |

| At 30 April 2024 | 248,362 |  | 419,453 |  | 667,815 |  |

| Fixed assets includes those assets with a carrying value of £64,953 (2024 - £5,307) which are held under hire purchase contracts.

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

5. | FIXED ASSET INVESTMENTS

| Interest

| in other

| participating

| interests

£ |

| COST

| At 1 May 2024 | 25 |  |

| Disposals | (25 | ) |

| At 30 April 2025 | - |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  |

| At 30 April 2024 | 25 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.4.25 |  | 30.4.24

£ | £ |

| Trade debtors | 491,489 |  | 862,502 |  |

| Amounts recoverable on contract | 864,034 |  | 387,000 |  |

| Other debtors | 134,479 |  | 108,831 |  |

1,490,002 |  | 1,358,333 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.4.25 |  | 30.4.24

£ | £ |

| Hire purchase contracts (see note 9) | 20,916 |  | 7,494 |  |

| Trade creditors | 450,145 |  | 597,907 |  |

| Taxation and social security | 266,317 |  | 344,470 |  |

| Other creditors | 16,500 |  | 9,177 |  |

753,878 |  | 959,048 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.4.25 |  | 30.4.24

£ | £ |

| Hire purchase contracts (see note 9) | 39,882 |  | - |  |

| WELDRITE UK LIMITED (REGISTERED NUMBER: 06069483) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 30.4.25 |  | 30.4.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 20,916 |  | 7,494 |  |

| Between one and five years | 39,882 |  | - |  |

60,798 |  | 7,494 |  |

| Non-cancellable |

| operating leases |

| 30.4.25 |  | 30.4.24

£ | £ |

| Within one year | 140,075 |  | 164,330 |  |

| Between one and five years | 367,500 |  | 482,575 |  |

| In more than five years | - |  | 25,000 |  |

507,575 |  | 671,905 |  |

| These are the minimum lease payments under operating leases not reflected in the statement of financial position.

10. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.4.25 |  | 30.4.24

£ | £ |

| Hire purchase contracts | 60,798 |  | 7,494 |  |

| Amounts due under finance leases and hire purchase contracts are secured on the associated assets.

11. | RELATED PARTY DISCLOSURES

| On 25th April 2025 the entire issued ordinary share capital of the company was acquired by Weldrite UK United Limited as the Trustee of the Weldrite Employee Ownership Trust. On that date the company made contributions totalling £1,759,731 (2024: £Nil) to the Employee Ownership Trust. Mr N York is one of the directors of that company.

12. | ULTIMATE CONTROLLING PARTY

| The company's ultimate controlling party is Weldrite UK United Limited