REGISTERED NUMBER: 03184833 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

REFINED PRECIOUS METALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R M Barrett

SECRETARY:

G Phillips

REGISTERED OFFICE:

17-21 Hatton Wall

London

London

EC1N 8JE

REGISTERED NUMBER:

03184833 (England and Wales)

ACCOUNTANTS:

Ashfords Partnership LLP

114 - 116 Goodmayes Road

Ilford

Essex

IG3 9UZ

FIXED ASSETS

Tangible assets

4

623,276

619,717

CURRENT ASSETS

Stocks

3,426,270

3,149,498

Debtors

5

1,244,349

967,348

Cash at bank and in hand

51,616

233,177

4,722,235

4,350,023

CREDITORS

Amounts falling due within one year

6

1,427,627

1,384,775

NET CURRENT ASSETS

3,294,608

2,965,248

TOTAL ASSETS LESS CURRENT LIABILITIES

3,917,884

3,584,965

CREDITORS

Amounts falling due after more than one year

7

(1,872,563

)

(1,628,278

)

PROVISIONS FOR LIABILITIES

(69,000

)

(69,000

)

NET ASSETS

1,976,321

1,887,687

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,976,319

1,887,685

SHAREHOLDERS' FUNDS

1,976,321

1,887,687

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 director acknowledges his 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 director and authorised for issue on 31 October 2025 and were signed by:

R M Barrett - Director

1.	STATUTORY INFORMATION

Refined Precious Metals 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.

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

-

in accordance with the property

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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.

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 11 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 March 2024

4,203

1,377,280

908,948

Additions

-

62,680

40,640

Disposals

-

-

-

At 28 February 2025

4,203

1,439,960

949,588

DEPRECIATION

At 1 March 2024

2,520

1,209,740

676,115

Charge for year

420

34,533

41,021

Eliminated on disposal

-

-

-

At 28 February 2025

2,940

1,244,273

717,136

NET BOOK VALUE

At 28 February 2025

1,263

195,687

232,452

At 29 February 2024

1,683

167,540

232,833

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 March 2024

1,107,864

193,512

115,038

3,706,845

Additions

21,580

-

-

124,900

Disposals

-

(11,800

)

-

(11,800

)

At 28 February 2025

1,129,444

181,712

115,038

3,819,945

DEPRECIATION

At 1 March 2024

971,795

116,472

110,486

3,087,128

Charge for year

23,648

18,820

1,138

119,580

Eliminated on disposal

-

(10,039

)

-

(10,039

)

At 28 February 2025

995,443

125,253

111,624

3,196,669

NET BOOK VALUE

At 28 February 2025

134,001

56,459

3,414

623,276

At 29 February 2024

136,069

77,040

4,552

619,717

5.

DEBTORS

28.2.25

29.2.24

£

£

Amounts falling due within one year:

Trade debtors

113,303

29,702

Other debtors

560,358

388,752

673,661

418,454

Amounts falling due after more than one year:

Amounts owed by associates

421,828

437,283

Other debtors

148,860

111,611

570,688

548,894

Aggregate amounts

1,244,349

967,348

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

833,259

842,822

Hire purchase contracts

7,700

7,700

Trade creditors

113,628

74,760

Taxation and social security

169,210

136,307

Other creditors

303,830

323,186

1,427,627

1,384,775

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans

1,661,014

1,604,536

Hire purchase contracts

16,042

23,742

Amounts owed to associates

195,507

-

1,872,563

1,628,278

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,121,242

1,026,285

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Bank overdrafts

698,316

698,259

Bank loans

1,795,957

1,749,099

2,494,273

2,447,358

The Bank Loan and overdraft is secured by a debenture and a floating charge in favour of the Bank, on the Companies assets, as well as a charge over the properties owned by Associated companies and the director personally.

9.	HOLDING COMPANY

Refined Precious Metals Ltd is a wholly owned subsidiary of Refined Precious Metals Holdings Ltd.