REGISTERED NUMBER: 06800188 (England and Wales)

WYE CYLINDER ENGINEERING LIMITED

Unaudited Financial Statements for the Year Ended 31 January 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

K J Bayliss

R J Williams

SECRETARY:

Mrs E J Bayliss

REGISTERED OFFICE:

403 Netherwood Road

Rotherwas Industrial Estate

Hereford

Herefordshire

HR2 6JU

REGISTERED NUMBER:

06800188 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

4

1,358,012

1,428,277

CURRENT ASSETS

Stocks

860,829

1,036,923

Debtors

5

1,211,525

1,166,101

Cash at bank and in hand

913,429

950,496

2,985,783

3,153,520

CREDITORS

Amounts falling due within one year

6

1,102,735

1,201,240

NET CURRENT ASSETS

1,883,048

1,952,280

TOTAL ASSETS LESS CURRENT LIABILITIES

3,241,060

3,380,557

CREDITORS

Amounts falling due after more than one year

7

(481,877

)

(461,819

)

PROVISIONS FOR LIABILITIES

(179,831

)

(211,779

)

NET ASSETS

2,579,352

2,706,959

CAPITAL AND RESERVES

Called up share capital

9

236

236

Capital redemption reserve

10

264

264

Retained earnings

10

2,578,852

2,706,459

SHAREHOLDERS' FUNDS

2,579,352

2,706,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 28 October 2025 and were signed on its behalf by:

R J Williams - Director

1.	STATUTORY INFORMATION

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

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.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Stocks

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 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

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.

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.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2024 - 49 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2024

4,293,219

149,894

100,496

4,543,609

Additions

350,051

2,097

-

352,148

At 31 January 2025

4,643,270

151,991

100,496

4,895,757

DEPRECIATION

At 1 February 2024

2,918,975

143,180

53,177

3,115,332

Charge for year

403,278

2,674

16,461

422,413

At 31 January 2025

3,322,253

145,854

69,638

3,537,745

NET BOOK VALUE

At 31 January 2025

1,321,017

6,137

30,858

1,358,012

At 31 January 2024

1,374,244

6,714

47,319

1,428,277

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 February 2024

1,109,850

49,162

1,159,012

Additions

323,102

-

323,102

Transfer to ownership

(450,000

)

-

(450,000

)

At 31 January 2025

982,952

49,162

1,032,114

DEPRECIATION

At 1 February 2024

197,532

12,276

209,808

Charge for year

214,943

12,276

227,219

Transfer to ownership

(202,500

)

-

(202,500

)

At 31 January 2025

209,975

24,552

234,527

NET BOOK VALUE

At 31 January 2025

772,977

24,610

797,587

At 31 January 2024

912,318

36,886

949,204

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

1,143,139

1,114,588

Amounts owed by participating interests

3,958

3,958

Directors' current accounts

24,429

-

Prepayments and accrued income

31,504

40,555

Other debtors

8,495

7,000

1,211,525

1,166,101

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

49,000

49,000

Hire purchase contracts

240,685

251,844

Trade creditors

583,721

623,198

Tax

8,245

-

Social security and other taxes

94,863

100,021

Other creditors

12,446

9,935

Directors' current accounts

-

245

Accruals and deferred income

106,275

159,497

Deferred government grants

7,500

7,500

1,102,735

1,201,240

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans - 1-2 years

16,333

49,000

Bank loans - 2-5 years

-

16,334

Hire purchase contracts

449,919

373,360

Deferred government grants

15,625

23,125

481,877

461,819

Deferred Government grants of £23,125 (2024: £30,625) relate to a number of Government grants received as a contribution towards the cost of fixed assets.

The Government grants have been treated as deferred income in the balance sheet and credited to the profit and loss account over the useful economic life of the related asset, as the terms and conditions are being satisfied.

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

65,333

114,334

Hire purchase contracts

690,604

625,204

755,937

739,538

Hire purchase liabilities are secured against the asset to which they relate.

Lloyds Bank Plc holds a fixed and floating charge over the assets of the company in respect of the loan.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

100

Ordinary A

£1

100

100

136

Ordinary B

£1

136

136

236

236

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 February 2024

2,706,459

264

2,706,723

Deficit for the year

(97,607

)

(97,607

)

Dividends

(30,000

)

(30,000

)

At 31 January 2025

2,578,852

264

2,579,116

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wye Cylinder Engineering Limited for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wye Cylinder Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wye Cylinder Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Wye Cylinder Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wye Cylinder Engineering Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wye Cylinder Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wye Cylinder Engineering Limited. You consider that Wye Cylinder Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wye Cylinder Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

29 October 2025