REGISTERED NUMBER: 00278011 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

DRYWITE LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mr K C V Lee

Mrs S H Grant

Dr M R Cave

Mrs C V Yardley

Mrs M F Martin

SECRETARY:

Mrs S H Grant

REGISTERED OFFICE:

The House Of Lee

23 Park Lane

Halesowen

West Midlands

B63 2RA

REGISTERED NUMBER:

00278011 (England and Wales)

ACCOUNTANTS:

E R Grove & Co Limited

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drywite Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Drywite Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Drywite Limited and state those matters that we have agreed to state to the Board of Directors of Drywite Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drywite Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Drywite Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Drywite Limited. You consider that Drywite Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Drywite Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

E R Grove & Co Limited

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

1 December 2025

FIXED ASSETS

Intangible assets

4

2,568

3,423

Tangible assets

5

560,765

549,777

563,333

553,200

CURRENT ASSETS

Stocks

827,151

837,736

Debtors

6

501,167

552,916

Cash at bank and in hand

602,132

323,011

1,930,450

1,713,663

CREDITORS

Amounts falling due within one year

7

349,087

349,102

NET CURRENT ASSETS

1,581,363

1,364,561

TOTAL ASSETS LESS CURRENT LIABILITIES

2,144,696

1,917,761

PROVISIONS FOR LIABILITIES

78,702

55,467

NET ASSETS

2,065,994

1,862,294

CAPITAL AND RESERVES

Called up share capital

600

600

Retained earnings

2,065,394

1,861,694

SHAREHOLDERS' FUNDS

2,065,994

1,862,294

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by:

Mr K C V Lee - Director

1.	STATUTORY INFORMATION

Drywite 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.

Turnover is recognised when the significant risk and rewards of ownership have transferred to the customer, usually at the point of dispatch or when the goods are available and ready for delivery, and therefore legal title of the stock has passed.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Long leasehold

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks 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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2024

and 31 March 2025

8,558

AMORTISATION

At 1 April 2024

5,135

Amortisation for year

855

At 31 March 2025

5,990

NET BOOK VALUE

At 31 March 2025

2,568

At 31 March 2024

3,423

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 April 2024

304,493

1,080,896

102,706

Additions

-

51,544

9,886

At 31 March 2025

304,493

1,132,440

112,592

DEPRECIATION

At 1 April 2024

72,365

828,822

78,998

Charge for year

6,085

41,961

5,652

At 31 March 2025

78,450

870,783

84,650

NET BOOK VALUE

At 31 March 2025

226,043

261,657

27,942

At 31 March 2024

232,128

252,074

23,708

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

26,813

190,125

1,705,033

Additions

-

12,349

73,779

At 31 March 2025

26,813

202,474

1,778,812

DEPRECIATION

At 1 April 2024

25,817

149,254

1,155,256

Charge for year

248

8,845

62,791

At 31 March 2025

26,065

158,099

1,218,047

NET BOOK VALUE

At 31 March 2025

748

44,375

560,765

At 31 March 2024

996

40,871

549,777

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

466,551

518,925

Other debtors

34,616

33,991

501,167

552,916

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

175,303

249,514

Taxation and social security

88,542

24,967

Other creditors

85,242

74,621

349,087

349,102

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

5,833

14,219

9.	RELATED PARTY DISCLOSURES

The company occupies premises owned by a company under the common control of the directors under a licence to occupy at an annual rent of £nil (2024:£nil). This arrangement is not a commercial basis.