REGISTERED NUMBER: 02331028 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GLAS-WELD SYSTEMS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Button

T Baker

Mrs WA Shaw

REGISTERED OFFICE:

Kingston House

Waterside Court

Neptune Close

Rochester

Kent

ME2 4NZ

REGISTERED NUMBER:

02331028 (England and Wales)

ACCOUNTANTS:

Sargeant Partnership Limited

Chartered Accountants

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

FIXED ASSETS

Tangible assets

4

19,695

26,515

CURRENT ASSETS

Stocks

25,508

27,770

Debtors

5

800,617

604,497

Cash at bank and in hand

6,510

79,843

832,635

712,110

CREDITORS

Amounts falling due within one year

6

312,814

260,795

NET CURRENT ASSETS

519,821

451,315

TOTAL ASSETS LESS CURRENT LIABILITIES

539,516

477,830

PROVISIONS FOR LIABILITIES

1,191

2,657

NET ASSETS

538,325

475,173

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

538,225

475,073

SHAREHOLDERS' FUNDS

538,325

475,173

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 22 December 2025 and were signed on its behalf by:

Mrs WA Shaw - Director

1.	STATUTORY INFORMATION

Glas-weld Systems (UK) 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 Glas-weld Systems (UK) 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.

Related party exemption

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.

Turnover

Turnover 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

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

Fixtures and fittings

-

25% per annum on reducing balance

Motor vehicles

-

25% per annum 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.

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 9 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

6,313

116,548

117,300

240,161

Disposals

-

-

(6,049

)

(6,049

)

At 31 March 2025

6,313

116,548

111,251

234,112

DEPRECIATION

At 1 April 2024

6,313

113,335

93,998

213,646

Charge for year

-

803

5,777

6,580

Eliminated on disposal

-

-

(5,809

)

(5,809

)

At 31 March 2025

6,313

114,138

93,966

214,417

NET BOOK VALUE

At 31 March 2025

-

2,410

17,285

19,695

At 31 March 2024

-

3,213

23,302

26,515

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

541,092

311,665

Other debtors

259,525

292,832

800,617

604,497

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade creditors

13,446

3,308

Amounts owed to group undertakings

144,898

144,898

Taxation and social security

61,837

60,098

Other creditors

92,633

52,491

312,814

260,795

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

as restated

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2024

919,724

Prior year adjustment

(444,651

)

475,073

Profit for the year

142,878

Dividends

(79,726

)

At 31 March 2025

538,225

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the Balance sheet date the company owed the director Mr A Button £76,430 (2024: £33,426).

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Glasweld Trustees Limited, a company incorporated in England and Wales by virtue of their shareholding in the parent company Glas-weld Holdings Limited.