REGISTERED NUMBER: 03067652 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2025

for

KWI Grinding Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P F Kelly

C F Kelly

REGISTERED OFFICE:

Leofric House

Binley Road

Coventry

West Midlands

CV3 1JN

REGISTERED NUMBER:

03067652 (England and Wales)

ACCOUNTANTS:

Leigh Christou Ltd

Chartered Certified Accountants

Leofric House

Binley Road

Coventry

CV3 1JN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

188,711

225,734

188,711

225,734

CURRENT ASSETS

Stocks

7,000

27,500

Debtors

6

270,042

306,101

Cash at bank

156,514

69,462

433,556

403,063

CREDITORS

Amounts falling due within one year

7

219,098

238,660

NET CURRENT ASSETS

214,458

164,403

TOTAL ASSETS LESS CURRENT LIABILITIES

403,169

390,137

CREDITORS

Amounts falling due after more than one year

8

(21,282

)

(50,221

)

PROVISIONS FOR LIABILITIES

(36,470

)

(44,974

)

NET ASSETS

345,417

294,942

CAPITAL AND RESERVES

Called up share capital

4,500

4,500

Capital redemption reserve

4,500

4,500

Retained earnings

336,417

285,942

SHAREHOLDERS' FUNDS

345,417

294,942

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

P F Kelly - Director

1.	STATUTORY INFORMATION

KWI Grinding 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 represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five 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.

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.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

Straight line over 4 years

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.

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.

Deferred taxation

Deferred taxation arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the coompany's accounts. Deferred taxation is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based upon current tax rates and laws.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 31 July 2025

11,500

AMORTISATION

At 1 August 2024

and 31 July 2025

11,500

NET BOOK VALUE

At 31 July 2025

-

At 31 July 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 August 2024

82,969

866,114

9,413

Additions

-

1,606

-

At 31 July 2025

82,969

867,720

9,413

DEPRECIATION

At 1 August 2024

22,191

719,704

9,274

Charge for year

11,805

22,202

21

At 31 July 2025

33,996

741,906

9,295

NET BOOK VALUE

At 31 July 2025

48,973

125,814

118

At 31 July 2024

60,778

146,410

139

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 August 2024

50,648

8,746

1,017,890

Additions

-

-

1,606

At 31 July 2025

50,648

8,746

1,019,496

DEPRECIATION

At 1 August 2024

32,241

8,746

792,156

Charge for year

4,601

-

38,629

At 31 July 2025

36,842

8,746

830,785

NET BOOK VALUE

At 31 July 2025

13,806

-

188,711

At 31 July 2024

18,407

-

225,734

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 August 2024

212,094

4,925

217,019

Transfer to ownership

(184,869

)

(4,925

)

(189,794

)

At 31 July 2025

27,225

-

27,225

DEPRECIATION

At 1 August 2024

138,378

1,463

139,841

Charge for year

11,057

865

11,922

Transfer to ownership

(141,634

)

(2,328

)

(143,962

)

At 31 July 2025

7,801

-

7,801

NET BOOK VALUE

At 31 July 2025

19,424

-

19,424

At 31 July 2024

73,716

3,462

77,178

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

257,526

293,522

Staff loans

6,156

6,985

Prepayments

6,360

5,594

270,042

306,101

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans and overdrafts

9,644

9,768

Hire purchase contracts

17,408

19,076

Trade creditors

50,854

107,004

Tax

57,804

33,607

VAT

44,449

41,629

Other creditors

373

-

Pension control account

2,336

2,236

Social security and other tax

13,679

11,698

Accrued expenses

22,551

13,642

219,098

238,660

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans - 1-2 years

-

9,848

Bank loans - 2-5 years

-

294

Hire purchase contracts

21,282

40,079

21,282

50,221

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.25

31.7.24

£

£

Bank loans

9,644

19,910

Hire purchase contracts

38,690

59,155

48,334

79,065

The hire purchase creditor is secured on the asset purchased under the agreement.

The bank loan is secured by way of fixed and floating charges over the assets of the company and

is also secured by way of personal guarantee from the director, Mr P Kelly, up to a limit of £30,000.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2025 and 31 July 2024:

31.7.25

31.7.24

£

£

C F Kelly

Balance outstanding at start of year

-

42,181

Amounts advanced

42,876

-

Amounts repaid

(42,876

)

(42,181

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

P F Kelly

Balance outstanding at start of year

-

-

Amounts advanced

52,000

-

Amounts repaid

(52,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Interest is charged on the Director's loans at the HMRC official rate of interest.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P Kelly via virtue of his majority shareholding in the parent company Errigal Holdings Limited