REGISTERED NUMBER: 13184357 (England and Wales)

Weldtite Manufacturing Limited

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P K Davis

J L Bennett-Baggs

D J Bennett-Baggs

C M Bennett-Baggs

Mrs O Leach

SECRETARY:

P K Davis

REGISTERED OFFICE:

Unit 9 Harrier Road

Humber Bridge Industrial Estate

Barton Upon Humber

DN18 5RP

REGISTERED NUMBER:

13184357 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

81,920

92,160

Investments

5

12,319,311

12,319,395

12,401,231

12,411,555

CURRENT ASSETS

Debtors

6

32,262

-

Cash at bank

370

700

32,632

700

CREDITORS

Amounts falling due within one year

7

5,433,655

5,145,708

NET CURRENT LIABILITIES

(5,401,023

)

(5,145,008

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,000,208

7,266,547

CREDITORS

Amounts falling due after more than one year

8

(4,593,736

)

(5,210,514

)

PROVISIONS FOR LIABILITIES

(20,480

)

(23,040

)

NET ASSETS

2,385,992

2,032,993

CAPITAL AND RESERVES

Called up share capital

816,414

854,640

Capital redemption reserve

38,226

-

Retained earnings

1,531,352

1,178,353

SHAREHOLDERS' FUNDS

2,385,992

2,032,993

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 2nd December 2025 and were signed on its behalf by:

P K Davis - Director

1.	STATUTORY INFORMATION

Weldtite Manufacturing 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.

Preparation of consolidated financial statements

The financial statements contain information about Weldtite Manufacturing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2a) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Turnover represents net invoiced sales of service, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

The company's investments in subsidiary undertakings are stated at cost less provision for impairment. The company's investments in other undertakings are held at market value. Where market value cannot be easily determined, investments are held at cost less provision for impairment.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1st January 2024

and 31st December 2024

102,400

DEPRECIATION

At 1st January 2024

10,240

Charge for year

10,240

At 31st December 2024

20,480

NET BOOK VALUE

At 31st December 2024

81,920

At 31st December 2023

92,160

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

12,319,395

Disposals

(84

)

At 31st December 2024

12,319,311

NET BOOK VALUE

At 31st December 2024

12,319,311

At 31st December 2023

12,319,395

At 31 December 2024 the company had the following subsidiaries:

Name

Type of shares held

Proportion held

Country of registration

Principal activity

C. B. Baggs Group Limited

Ordinary

100%

England & Wales

Holding company

Weldtite Products Limited

Ordinary

100%

England & Wales

Cycle accessories

The registered office of all of the above companies is Unit 9 Harrier Road, Humber Bridge Industrial Estate, Barton Upon Humber, DN18 5RP.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

32,262

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

14,507

Amounts owed to group undertakings

4,630,978

4,508,442

Taxation and social security

35,204

10,779

Other creditors

767,473

611,980

5,433,655

5,145,708

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

4,593,736

5,210,514

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Related party creditors

5,181,716

5,671,716

This is supported by a guarantee from subsidiary companies and secured by fixed and floating charges over the assets of all group companies.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Lamb FCA CF (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

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.