REGISTERED NUMBER: 09898088 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

James White Engineering Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Tubbs

D Stevens

SECRETARY:

REGISTERED OFFICE:

James White Engineering Group Limited

Commercial Road

Reading

RG2 0RU

REGISTERED NUMBER:

09898088 (England and Wales)

ACCOUNTANTS:

Braceys Accountants Limited

Unit 1 The Cam Centre

Wilbury Way

Hitchin

Hertfordshire

SG4 0TW

FIXED ASSETS

Intangible assets

4

5,196

9,721

Tangible assets

5

91,719

91,449

96,915

101,170

CURRENT ASSETS

Stocks

682,932

682,738

Debtors

6

352,797

452,105

Cash at bank and in hand

31,894

20,933

1,067,623

1,155,776

CREDITORS

Amounts falling due within one year

7

(597,207

)

(695,321

)

NET CURRENT ASSETS

470,416

460,455

TOTAL ASSETS LESS CURRENT LIABILITIES

567,331

561,625

CREDITORS

Amounts falling due after more than one year

8

(395,374

)

(462,812

)

PROVISIONS FOR LIABILITIES

(10,593

)

(19,159

)

NET ASSETS

161,364

79,654

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

161,264

79,554

161,364

79,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 5 September 2025 and were signed on its behalf by:

I Tubbs - Director

1.	STATUTORY INFORMATION

James White Engineering Group 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

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

Short leasehold

-

Over 6 years

Plant and machinery

-

16.5% straight line

Fixtures and fittings

-

20% Straight Line

Motor vehicles

-

25% on reducing balance

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.

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 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.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

5,000

22,100

27,100

AMORTISATION

At 1 March 2024

4,000

13,379

17,379

Charge for year

500

4,025

4,525

At 28 February 2025

4,500

17,404

21,904

NET BOOK VALUE

At 28 February 2025

500

4,696

5,196

At 29 February 2024

1,000

8,721

9,721

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

21,890

490,267

512,157

Additions

-

68,624

68,624

Disposals

-

(66,332

)

(66,332

)

At 28 February 2025

21,890

492,559

514,449

DEPRECIATION

At 1 March 2024

14,593

406,115

420,708

Charge for year

3,649

28,948

32,597

Eliminated on disposal

-

(30,575

)

(30,575

)

At 28 February 2025

18,242

404,488

422,730

NET BOOK VALUE

At 28 February 2025

3,648

88,071

91,719

At 29 February 2024

7,297

84,152

91,449

Included in tangible assets is £31,353 (2024: £78,011) of net book value for assets held on hire purchase contracts.During the year these assets were depreciated by £10,901 (2024: £21,256).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

342,062

425,718

Other debtors

10,735

26,387

352,797

452,105

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 9)

12,546

10,000

Hire purchase contracts

24,758

45,169

Trade creditors

106,276

160,806

Taxation and social security

321,139

371,412

Other creditors

132,488

107,934

597,207

695,321

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 9)

250,377

321,284

Hire purchase contracts

60,205

18,901

Taxation and social security

-

23,267

Other creditors

84,792

99,360

395,374

462,812

The carrying amount of Time Finance PLC (formerly GENER8 Finance Limited) is £250,376 (2024:

£308,784) and incuded within current borrowings. A fixed and floating charge is held in favour of TimeFinance PLC (formerly GENER8 Finance Limited) over all of the assets the company. An additional personal guarantee exists from the shareholders in their shareholding ratios to the value of £80,000.

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Government Loan

12,546

10,000

Other loans

101,682

71,978

114,228

81,978

Amounts falling due between one and two years:

Time Finance

250,377

321,284

Other loans - Over 1 year

84,792

99,360

335,169

420,644

Included under loans and borrowings is the company acquired Bounce Back loan (BBL) which is

managed by Santander on behalf of, and with the financial backing of, the secretary of state for business,energy and industrial strategy. Included as repayable < 1 year is £10,000 (2024 - £10,000 ) and > 1 year is £2,500 (2024 - £12,500).

10.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments that are not included in the balance sheet is £218,410 (2024: £278,611). Of this amount £60,387 (2023: £60,200) is due within 1 year and £158,022 (2024: £218,410) is due within 2-5 years. This total comprises various contracts that the company are committed to at the balance sheet date to the expiry of the respective contracts.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed £144 (2024: was owed £12,889) by Mr I Tubbs, a director of the company. This loan is provided interest free and is repayable on demand.

At the balance sheet date, the company owed £3,573(2024: £1,593) by Mr D Stevens, a

director of the company. This loan is provided interest free and is repayable on demand.