Wilbar Components Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Wilbar Components Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01578127 . The registered office is Martindale, Hawks Green, Cannock, Staffordshire, WS11 7XN.

2. Accounting Policies

2.1. Basis of Preparation of 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of hydraulic couplings and specialised components is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

2.3. Tangible Fixed Assets and Depreciation

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.

Freehold	- not provided
Plant & Machinery	- 10% on reducing balance
Motor Vehicles	- 25% on reducing balance
Fixtures & Fittings	- 33.3% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operation as intended.

2.4. Leasing and Hire Purchase Contracts

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2.5. Stocks and Work in Progress

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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Wilbar Components Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.6. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.8. Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

2.9. Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2024: 15)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost or Valuation
As at 1 August 2024	725,000	1,799,406	50,991	57,581	2,632,978

As at 31 July 2025	725,000	1,799,406	50,991	57,581	2,632,978

...CONTINUED

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Wilbar Components Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

Depreciation
As at 1 August 2024	-	1,246,561	33,845	51,904	1,332,310
Provided during the period	-	55,266	4,287	1,170	60,723

As at 31 July 2025	-	1,301,827	38,132	53,074	1,393,033

Net Book Value
As at 31 July 2025	725,000	497,579	12,859	4,507	1,239,945

As at 1 August 2024	725,000	552,845	17,146	5,677	1,300,668

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Plant & Machinery	123,607	166,806

Cost or valuation as at 31 July 2025 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
At cost	288,552	1,799,406	50,991	57,581	2,196,530
At valuation	436,448	-	-	-	436,448

	725,000	1,799,406	50,991	57,581	2,632,978

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Land & Property
	Freehold
	£
Cost	288,552

5. Investments

	Unlisted
	£
Cost
As at 1 August 2024	78

As at 31 July 2025	78

Provision
As at 1 August 2024	-

As at 31 July 2025	-

Net Book Value
As at 31 July 2025	78

As at 1 August 2024	78

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Wilbar Components Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

6. Stocks

	2025	2024
	£	£
Materials	20,090	20,090
Finished goods	46,000	46,000
Work in progress	44,490	81,416

	110,580	147,506

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	136,634	179,094
Prepayments and accrued income	12,290	14,770

	148,924	193,864

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,489	48,173
Trade creditors	60,263	88,794
Bank loans and overdrafts	133,986	136,459
Corporation tax	11,339	5,157
Other taxes and social security	4,242	4,723
VAT	21,150	30,314
Other creditors	23,570	23,361
Accruals and deferred income	10,506	12,450
Directors' loan accounts	112,313	136,581

	380,858	486,012

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	3,589

10. Secured Creditors

Of the creditors the following amounts are secured. The balances are secured on the property known as 10A Martindale, Hawkes Green, Cannock, Staffordshire, WS11 7XN

	2025		2024
	£		£
Bank loans and overdrafts	133,986		136,459

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Wilbar Components Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

11. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,489	48,173
Later than one year and not later than five years	-	3,589

	3,489	51,762

	3,489	51,762

12. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	978	978

13. Other Commitments

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £11,277 (2024 £18,577).

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,239,945		1,300,668
Investments	5		78		78

			1,240,023		1,300,746
CURRENT ASSETS
Stocks	6	110,580		147,506
Debtors	7	148,924		193,864
Cash at bank and in hand		33,999		52,540

		293,503		393,910
Creditors: Amounts Falling Due Within One Year	8	(380,858 )		(486,012 )

NET CURRENT ASSETS (LIABILITIES)			(87,355 )		(92,102 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,152,668		1,208,644

Creditors: Amounts Falling Due After More Than One Year	9		-		(3,589 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(143,864 )		(153,726 )

NET ASSETS			1,008,804		1,051,329

CAPITAL AND RESERVES
Called up share capital	12		978		978
Revaluation reserve			397,073		397,073
Capital redemption reserve			22		22
Profit and Loss Account			610,731		653,256

SHAREHOLDERS' FUNDS			1,008,804		1,051,329