REGISTERED NUMBER: 01301528 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Wall Lag (Wales) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

B D Griffiths

A J Gomm

B D Wheatley

REGISTERED OFFICE:

3 Grove Road

Wrexham

LL11 1DY

REGISTERED NUMBER:

01301528 (England and Wales)

ACCOUNTANTS:

Guy Walmsley Limited

3 Grove Road

Wrexham

LL11 1DY

FIXED ASSETS

Tangible assets

4

1,483,361

1,436,634

Investments

5

25,395

246

1,508,756

1,436,880

CURRENT ASSETS

Stocks

6

702,941

313,861

Debtors

7

1,151,643

1,193,752

Cash at bank and in hand

633,773

421

2,488,357

1,508,034

CREDITORS

Amounts falling due within one year

8

2,052,097

1,333,370

NET CURRENT ASSETS

436,260

174,664

TOTAL ASSETS LESS CURRENT LIABILITIES

1,945,016

1,611,544

CREDITORS

Amounts falling due after more than one year

9

(68,584

)

(100,032

)

PROVISIONS FOR LIABILITIES

(56,411

)

(58,282

)

NET ASSETS

1,820,021

1,453,230

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Revaluation reserve

(12,361

)

(12,361

)

Retained earnings

1,807,382

1,440,591

SHAREHOLDERS' FUNDS

1,820,021

1,453,230

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 17 December 2025 and were signed on its behalf by:

A J Gomm - Director

B D Griffiths - Director

B D Wheatley - Director

1.	STATUTORY INFORMATION

Wall Lag (Wales) 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. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is recognised when, and to the extent that, the company obtains the right to consideration. The point of recognition is after the service has been performed, when the risk and rewards associated with the goods/services have been transferred or in accordance with contractual terms. Turnover excludes 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

4% on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

25% on cost

Computer equipment

-

at varying rates on cost

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Group accounts

The company and it's subsidiaries comprise a small-sized group. The company has taken advantage of the exemption provided by S.248 Companies Act 1985 not to prepare group accounts. The financial statements, therefore, present information concerning the company only and not the group.

Operating leases

Rentals applicable to operating leases are charged to the profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 108 (2024 - 100 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

1,230,423

121,940

6,860

Additions

9,131

14,023

-

Disposals

-

(45,897

)

-

Reclassification/transfer

-

-

-

At 31 March 2025

1,239,554

90,066

6,860

DEPRECIATION

At 1 April 2024

83,166

99,731

5,811

Charge for year

18,071

10,436

956

Eliminated on disposal

-

(44,874

)

-

Reclassification/transfer

-

-

-

At 31 March 2025

101,237

65,293

6,767

NET BOOK VALUE

At 31 March 2025

1,138,317

24,773

93

At 31 March 2024

1,147,257

22,209

1,049

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

696,722

69,406

2,125,351

Additions

151,281

12,541

186,976

Disposals

(123,842

)

(19,135

)

(188,874

)

Reclassification/transfer

(119,441

)

-

(119,441

)

At 31 March 2025

604,720

62,812

2,004,012

DEPRECIATION

At 1 April 2024

451,099

48,910

688,717

Charge for year

95,251

6,629

131,343

Eliminated on disposal

(115,959

)

(19,135

)

(179,968

)

Reclassification/transfer

(119,441

)

-

(119,441

)

At 31 March 2025

310,950

36,404

520,651

NET BOOK VALUE

At 31 March 2025

293,770

26,408

1,483,361

At 31 March 2024

245,623

20,496

1,436,634

Included in cost of land and buildings is freehold land of £ 336,000 (2024 - £ 336,000 ) which is not depreciated.

The freehold land and buildings were revalued on 31st March 2019 by Jones Peckover, Chartered Surveyors, on an open market value basis.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

579,276

Additions

40,490

Disposals

(34,290

)

Reclassification/transfer

(119,441

)

At 31 March 2025

466,035

DEPRECIATION

At 1 April 2024

243,761

Charge for year

75,393

Eliminated on disposal

(26,407

)

At 31 March 2025

292,747

NET BOOK VALUE

At 31 March 2025

173,288

At 31 March 2024

335,515

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

246

Reclassification/transfer

25,149

At 31 March 2025

25,395

NET BOOK VALUE

At 31 March 2025

25,395

At 31 March 2024

246

6.

STOCKS

31.3.25

31.3.24

£

£

Stocks

389,854

176,380

Work-in-progress

313,087

137,481

702,941

313,861

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

1,044,139

1,104,138

Other debtors

78,900

54,313

Subsidiary company

(26,087

)

-

Directors' current accounts

11,594

15,303

Prepayments

43,097

19,998

1,151,643

1,193,752

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

149,119

Hire purchase contracts

60,561

86,450

Trade creditors

1,492,662

835,160

Tax

2,591

-

Social security and other taxes

84,757

76,002

VAT

108,948

125,441

Other creditors

21,083

28,773

Directors' current accounts

20,763

20,082

Accrued expenses

260,732

12,343

2,052,097

1,333,370

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

68,584

100,032

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank overdraft

-

149,119

Hire purchase contracts

129,145

186,482

129,145

335,601

Hire purchase contracts are secured against the assets to which they relate.

The bank overdraft is secured on the property owned by Wall Lag (Wales) Limited at Bromfield Industrial Estate, Mold.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

A J Gomm

Balance outstanding at start of year

-

-

Amounts advanced

9,593

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,593

-

B D Griffiths

Balance outstanding at start of year

-

-

Amounts advanced

2,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,000

-