| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Webster Griffin Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Webster Griffin Limited |
| Webster Griffin Limited (Registered number: 01203811) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Webster Griffin Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Thatcher House |
| 12 Mount Ephraim |
| Tunbridge Wells |
| Kent |
| TN4 8AS |
| Webster Griffin Limited (Registered number: 01203811) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Stocks | 6 |
| Debtors | 7 |
| Investments | 8 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
| Provisions for liabilities | 13 | ( |
) | ( |
) |
| Net assets |
| Webster Griffin Limited (Registered number: 01203811) |
| Balance Sheet - continued |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Capital and reserves |
| Called up share capital | 14 |
| Share premium | 15 |
| Revaluation reserve | 15 |
| Capital redemption reserve | 15 |
| Retained earnings | 15 |
| Shareholders' funds |
| 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 were approved by the Board of Directors and authorised for issue on |
| Webster Griffin Limited (Registered number: 01203811) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Webster Griffin Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The principal activity of the company in the year under review was that of manufacturing of lifting and handling equipment. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE 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. |
| TANGIBLE FIXED ASSETS |
| Fixtures and fittings | - |
| Motor vehicles | - |
| INVESTMENTS IN SUBSIDIARIES |
| Investments in subsidiary undertakings are recognised at cost. |
| STOCKS AND WORK IN PROGRESS |
| Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing or completion |
| LEASES |
| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. |
| 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. |
| DEFFERED TAX |
| Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date which are immaterial. |
| EXCHANGE GAINS |
| Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences ae taken into account in arriving at the operating profit. |
| Webster Griffin Limited (Registered number: 01203811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| INVESTMENTS |
| The investment shown on the balance sheet date is at cost, which represents the amount paid to acquire the investment. The cost does not reflect any changes in the fair value of the investment after the acquisition date. |
| SHARE CAPITAL |
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or buy back of existing shares are deducted from equity, net of any related tax effects. |
| SHARE BASED PAYMENTS |
| The Company operates an Enterprise Management Incentive (EMI) plan for employees. Equity settled share based payments are measured at fair value at the grant date and recognised as an expense over the vesting period, with a corresponding credit to equity. Where shares are bought back under the EMI plan, the gross consideration is reduced by the exercise price payable by employees, with the net amount settled in cash. |
| Contributions made by the Company to the Employee Ownership Trust (EOT) to fund principal on the EOT's vendor loans are recognized directly in equity within "Capital contributions to EOT and do not pass-through profit or loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Motor |
| property | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Freehold land and buildings were valued for £1,050,000 on 03/05/2023 by Sedgwick International UK. Freehold land and building are shown with the cost and revalued amount and no deprecation is charged on it. |
| Webster Griffin Limited (Registered number: 01203811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | FIXED ASSET INVESTMENTS |
| Investment |
| in |
| Webster |
| Griffin |
| EOT Ltd |
| £ |
| COST |
| Additions |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Work-in-progress |
| Finished goods |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments |
| The directors consider the carrying value of trade and other receivables approximate to their fair values. |
| 8. | CURRENT ASSET INVESTMENTS |
| 2025 | 2024 |
| £ | £ |
| Other investments |
| Webster Griffin Limited (Registered number: 01203811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts (see note 11) |
| Other loans (see note 11) |
| Trade creditors |
| Corporation tax |
| Social security and other tax |
| VAT | 50,391 | 47,167 |
| Other creditors |
| HSBC Corporate Credit Card | 7,906 | 20,720 |
| Accrued expenses |
| The directors consider the carrying amounts of current liabilities approximate to their fair values. |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans (see note 11) |
| Other loans (see note 11) |
| 11. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loans |
| Other loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Other loans - 1-2 years | 4,788 |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Other loans - 2-5 years |
| Webster Griffin Limited (Registered number: 01203811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 12. | SECURED DEBTS |
| Bank security includes a mortgage debenture incorporating a floating charge over the company's assets. |
| 13. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 100,663 | 100,663 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Balance at 31 March 2025 |
| 14. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £0.00 | 1 | 266 | 256 |
| During the year, the total number of shares decreased twice by 21,875 (£0.001 ordinary shares) each through cancellations effective on 2 April 2024 and 7 October 2024. Thereafter, the share capital increased by 53,255 (£0.001 ordinary shares) through an allotment effective on 29 October 2024, resulting in a change from 256,250 to 265,755 (£0.001 ordinary shares). |
| Cross holding Structure |
| As part of the Employee Ownership Trust (EOT) arrangement, Webster Griffin EOT Ltd in turn holds all 265,755 ordinary shares in Webster Griffin Ltd. This reciprocal shareholding structure reflects the establishment of the EOT to hold Webster Griffin Ltd shares on behalf of its employees. |
| The single issued share of the trustee company is held as nominee to the order of the trustee directors. This circularity is permitted under the Companies Act 2006 (subsidiary acting as trustee exemption), and the Company does not exercise rights attached to that share without the consent of the trustee directors. |
| Share Buy back and Employee Share Options |
| During the year, 5,325 ordinary shares were bought back under the Company's EMI plan. The gross consideration was £30,756, reduced by £8,568 representing the EMI exercise price, resulting in a net payment of £22,188. The transaction has been accounted for in accordance with FRS 102 Section 26 and the Companies Act 2006, with appropriate adjustments made to share capital and reserves. |
| Webster Griffin Limited (Registered number: 01203811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 15. | RESERVES |
| Capital |
| Retained | Share | Revaluation | redemption |
| earnings | premium | reserve | reserve | Totals |
| £ | £ | £ | £ | £ |
| At 1 April 2024 | 1,129,450 |
| Profit for the year |
| Purchase of own shares | (112,500 | ) | - | - | 44 | (112,456 | ) |
| Cash share issue | - | 85,634 | - | - | 85,634 |
| Employee Options Contribution | (30,756 | ) | - | - | - | (30,756 | ) |
| At 31 March 2025 | 1,080,546 |
| The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve. |
| Non distributable reserves consist of share premium, capital redemption reserve and revaluation reserve, which consist of fair value and deferred tax adjustments in relation to freehold property. |
| At the balance sheet date the reserves therefore comprise of the following: |
| Distributable reserves: £465,017 |
| Non Distributable reserves: |
| Share premium- £85,634 |
| Revaluation reserve- £529,807 |
| Capital redemption reserve- £88 |
| 16. | CONTINGENT LIABILITIES |
| In connection with the EOT vendor-loan financing, the Company has provided a guarantee and entered into security arrangements in favor of the EOT vendors. The vendor loan is an obligation of the EOT trustee and not a liability of the Company. No provision is recognized under FRS 102 Section 21; however, the guarantee is disclosed as a contingent liability. The estimated maximum exposure under the guarantee at 31st March 2025 is £1,449,260, subject to the terms of the financing documents. |
| 17. | RELATED PARTY DISCLOSURES |
| The Company is owned for the benefit of employees by sole corporate trustee "Webster Griffin EOT Limited". Transactions with the trustee are as follows: |
| Capital contributions to EOT: £30,756 (2024: NIL) - recognized directly in equity. |
| The EOT, as a trust for all employees, is not a subsidiary of the Company. |