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REGISTERED NUMBER: 01327799 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2025

for

W. Spence & Son (Blacksmiths) Limited

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

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 |

W. Spence & Son (Blacksmiths) Limited

Company Information

for the Year Ended 30 April 2025

| DIRECTORS: | S W Spence

| Mrs J J Spence

| R S Spence

| SECRETARY: | Mrs J J Spence

| REGISTERED OFFICE: | Bolton House

| Bolton Lane

| Hose

| Melton Mowbray

| Leicestershire

| LE14 4JE

| REGISTERED NUMBER: | 01327799 (England and Wales)

| ACCOUNTANTS: | SRB Associates (Leicestershire) Limited

| Pera Business Park

| Nottingham Road

| Melton Mowbray

| Leicestershire

| LE13 0PB

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Statement of Financial Position

30 April 2025

| 30.4.25 | 30.4.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 42,898 |  | 39,701 |  |

Investments | 5 | 117,057 |  | 111,451 |  |

159,955 |  | 151,152 |  |

CURRENT ASSETS

Inventories | 4,450 |  | 4,725 |  |

Debtors | 6 | 27,336 |  | 33,176 |  |

Cash at bank | 26,504 |  | 46,668 |  |

58,290 |  | 84,569 |  |

CREDITORS

Amounts falling due within one year | 7 | 43,322 |  | 48,523 |  |

NET CURRENT ASSETS | 14,968 |  | 36,046 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 174,923 |  | 187,198 |  |

PROVISIONS FOR LIABILITIES | 8 | 11,134 |  | 9,462 |  |

NET ASSETS | 163,789 |  | 177,736 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 18,376 |  | 18,376 |  |

Revaluation reserve | 10 | 42,594 |  | 38,053 |  |

Retained earnings | 102,819 |  | 121,307 |  |

SHAREHOLDERS' FUNDS | 163,789 |  | 177,736 |  |

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.

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

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 7 November 2025 and were signed on its behalf by:

S W Spence - Director | Mrs J J Spence - Director

R S Spence - Director

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | STATUTORY INFORMATION

| W. Spence & Son (Blacksmiths) 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 as modified by the revaluation of certain assets.

| Revenue

| Revenue 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

| Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each assets over its expected useful life, as follows:

| Freehold property - no depreciation

| Plant and machinery - 12.5% reducing balance basis

| Fixtures and fittings - 25% reducing balance basis

| Motor vehicles - 25% reducing balance basis

| Inventories

| Inventories 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.

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Investments

| Investments are measured at fair value at each reporting date and changes in fair value are recognised in the income statement and the revaluation reserve.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2024 - 5 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 May 2024 | 10,536 |  | 5,220 |  | 1,896 |  | 83,352 |  | 101,004 |  |

| Additions | - |  | - |  | - |  | 18,990 |  | 18,990 |  |

| Disposals | - |  | - |  | - |  | (14,250 | ) | (14,250 | ) |

| At 30 April 2025 | 10,536 |  | 5,220 |  | 1,896 |  | 88,092 |  | 105,744 |  |

| DEPRECIATION

| At 1 May 2024 | - |  | 4,438 |  | 1,165 |  | 55,700 |  | 61,303 |  |

| Charge for year | - |  | 96 |  | 183 |  | 10,375 |  | 10,654 |  |

| Eliminated on disposal | - |  | - |  | - |  | (9,111 | ) | (9,111 | ) |

| At 30 April 2025 | - |  | 4,534 |  | 1,348 |  | 56,964 |  | 62,846 |  |

| NET BOOK VALUE

| At 30 April 2025 | 10,536 |  | 686 |  | 548 |  | 31,128 |  | 42,898 |  |

| At 30 April 2024 | 10,536 |  | 782 |  | 731 |  | 27,652 |  | 39,701 |  |

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 1 May 2024 | 111,451 |  |

| Revaluations | 5,606 |  |

| At 30 April 2025 | 117,057 |  |

| NET BOOK VALUE

| At 30 April 2025 | 117,057 |  |

| At 30 April 2024 | 111,451 |  |

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

5. | FIXED ASSET INVESTMENTS - continued

| Cost or valuation at 30 April 2025 is represented by:

| Other

| investments

£ |

| Valuation in 2017 | 12,225 |  |

| Valuation in 2018 | 3,640 |  |

| Valuation in 2019 | 4,197 |  |

| Valuation in 2020 | (6,662 | ) |

| Valuation in 2021 | 11,319 |  |

| Valuation in 2022 | 17,193 |  |

| Valuation in 2023 | 1,784 |  |

| Valuation in 2024 | (1,720 | ) |

| Valuation in 2025 | 5,606 |  |

| Cost | 69,475 |  |

117,057 |  |

| If investments had not been revalued they would have been included at the following historical cost:

| 30.4.25 |  | 30.4.24

£ | £ |

| Cost | 69,475 |  | 69,475 |  |

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

| 30.4.25 |  | 30.4.24

£ | £ |

| Trade debtors | 22,241 |  | 26,441 |  |

| Other debtors | 5,095 |  | 6,735 |  |

27,336 |  | 33,176 |  |

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

| 30.4.25 |  | 30.4.24

£ | £ |

| Trade creditors | 16,410 |  | 6,802 |  |

| Taxation and social security | 7,914 |  | 13,161 |  |

| Other creditors | 18,998 |  | 28,560 |  |

43,322 |  | 48,523 |  |

8. | PROVISIONS FOR LIABILITIES

| 30.4.25 |  | 30.4.24

£ | £ |

| Deferred tax | 11,134 |  | 9,462 |  |

W. Spence & Son (Blacksmiths) Limited (Registered number: 01327799)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

8. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 May 2024 | 9,462 |  |

| Charge to Income Statement during year | 1,672 |  |

| Balance at 30 April 2025 | 11,134 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.4.25 |  | 30.4.24

| value: | £ | £ |

| 12,251 | A Ordinary | £1 | 12,251 |  | 12,251 |  |

| 6,125 | B Ordinary | £1 | 6,125 |  | 6,125 |  |

18,376 |  | 18,376 |  |

10. | RESERVES

| Revaluation

| reserve

£ |

| At 1 May 2024 | 38,053 |  |

| Revaluation in year | 5,606 |  |

| Deferred tax movement | (1,065 | ) |

| At 30 April 2025 | 42,594 |  |

| The aggregate surplus on re-measurement of investments, net of associated deferred tax, is transferred to a separate non-distributable reserve in order to assist with the identification of profits available for distribution.