Worcester Bearings & Engineering Services Ltd

Registration number: 06994652

Worcester Bearings & Engineering Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 12

Worcester Bearings & Engineering Services Ltd

Company Information

Directors

Mr W Everett

Mr KM Everett

Mr CL Everett

Mr LW Everett

Company secretary

Mrs AE Everett

Registered office

Aston Fields Business Park
Units 1 & 2 Silver Birches
Aston Rd
Bromsgrove
Worcestershire
B60 3EU

Accountants

Mr Colin Barrett Shop 2, 130 Hagley Road
Hayley Green
Halesowen
West Midlands
B63 1DY

Worcester Bearings & Engineering Services Ltd

(Registration number: 06994652)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	93,884	128,458
Current assets
Stocks	5	195,000	210,000
Debtors	6	249,665	388,290
Cash at bank and in hand		207,781	179,732
		652,446	778,022
Creditors: Amounts falling due within one year	7	(384,338)	(476,271)
Net current assets		268,108	301,751
Total assets less current liabilities		361,992	430,209
Creditors: Amounts falling due after more than one year	7	(34,845)	(64,861)
Provisions for liabilities		(7,040)	(13,881)
Net assets		320,107	351,467
Capital and reserves
Called up share capital	8	1,000	1,000
Retained earnings		319,107	350,467
Shareholders' funds		320,107	351,467

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Worcester Bearings & Engineering Services Ltd

(Registration number: 06994652)
Balance Sheet as at 31 March 2025

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:

.........................................
Mr W Everett
Director

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Aston Fields Business Park
Units 1 & 2 Silver Birches
Aston Rd
Bromsgrove
Worcestershire
B60 3EU

These financial statements were authorised for issue by the Board on 23 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% reducing balance
Plant	25% reducing balance
Office Equipment	25% straight line
Fixtures & Fittings	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 10).

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
£

Total
£

Cost or valuation

At 1 April 2024

80,389

13,427

33,741

195,138

322,695

Additions

4,105

-

-

19,900

24,005

Disposals

-

-

-

(71,538)

(71,538)

At 31 March 2025

84,494

13,427

33,741

143,500

275,162

Depreciation

At 1 April 2024

65,546

9,942

33,741

85,008

194,237

Charge for the year

4,535

872

-

25,621

31,028

Eliminated on disposal

-

-

-

(43,987)

(43,987)

At 31 March 2025

70,081

10,814

33,741

66,642

181,278

Carrying amount

At 31 March 2025

14,413

2,613

-

76,858

93,884

At 31 March 2024

14,843

3,485

-

110,130

128,458

5

Stocks

2025
£

2024
£

Other inventories

195,000

210,000

6

Debtors

Current

2025
£

2024
£

Trade debtors

231,246

359,943

Prepayments

15,119

25,047

Other debtors

3,300

3,300

249,665

388,290

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	41,382	45,943
Trade creditors		240,501	313,982
Taxation and social security		65,338	79,957
Accruals and deferred income		20,916	22,576
Other creditors		16,201	13,813
		384,338	476,271

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	34,845	64,861

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A share of £1 each	200	200	200	200
Ordinary B share of £1 each	200	200	200	200
Ordinary C share of £1 each	600	600	600	600
	1,000	1,000	1,000	1,000

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £

Bank borrowings	2,500	12,500
Hire purchase contracts	32,345	52,361
	34,845	64,861

Current loans and borrowings

	2025 £	2024 £

Bank borrowings	10,000	10,000
Hire purchase contracts	31,382	35,943
	41,382	45,943

10

Dividends

Interim dividends paid

	2025 £	2024 £
Interim dividend of £125.00 (2024 - £90.00) per each Ordinary A share	25,000	18,000
Interim dividend of £110.00 (2024 - £90.00) per each Ordinary B share	22,000	18,000
Interim dividend of £120.00 (2024 - £10.00) per each Ordinary C share	72,000	6,000
	119,000	42,000

Worcester Bearings & Engineering Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

11	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	24,000	24,000
Contributions paid to money purchase schemes	4,800	1,014
	28,800	25,014

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles £	Total £
Cost or valuation
At 1 April 2024	80,389	13,427	33,741	195,138	322,695
Additions	4,105	-	-	19,900	24,005
Disposals	-	-	-	(71,538)	(71,538)
At 31 March 2025	84,494	13,427	33,741	143,500	275,162
Depreciation
At 1 April 2024	65,546	9,942	33,741	85,008	194,237
Charge for the year	4,535	872	-	25,621	31,028
Eliminated on disposal	-	-	-	(43,987)	(43,987)
At 31 March 2025	70,081	10,814	33,741	66,642	181,278
Carrying amount
At 31 March 2025	14,413	2,613	-	76,858	93,884
At 31 March 2024	14,843	3,485	-	110,130	128,458

Current	2025 £	2024 £
Trade debtors	231,246	359,943
Prepayments	15,119	25,047
Other debtors	3,300	3,300
	249,665	388,290