REGISTERED NUMBER: 06570986 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

I.W.T. COMPOSITES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J O Williams

REGISTERED OFFICE:

One St Peter's Square

Manchester

M2 3DE

REGISTERED NUMBER:

06570986 (England and Wales)

AUDITORS:

M. D. Coxey and Co. Limited

Chartered Accountants

and Statutory Auditors

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

HSBC Bank plc

9, Bridge Street

Llangollen

LL20 8PH

FIXED ASSETS

Tangible assets

4

180,550

179,750

CURRENT ASSETS

Stocks

107,728

129,216

Debtors

5

1,118,504

871,759

Cash at bank

137,374

147,545

1,363,606

1,148,520

CREDITORS

Amounts falling due within one year

6

259,103

211,423

NET CURRENT ASSETS

1,104,503

937,097

TOTAL ASSETS LESS CURRENT LIABILITIES

1,285,053

1,116,847

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

1,285,052

1,116,846

SHAREHOLDERS' FUNDS

1,285,053

1,116,847

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th December 2025 and were signed by:

J O Williams - Director

1.	STATUTORY INFORMATION

I.W.T. Composites 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.

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.

Improvements to property

-

The length of the lease

Plant and machinery

-

10% - 33% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

50% 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.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

Cash and cash equivalents:

These comprise cash at bank and short-term highly liquid bank deposits with an original maturity of three months or less.

Debtors:

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Creditors:

Creditors are not interest bearing and are stated at their nominal amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 8 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st April 2024

115,107

1,242,736

39,390

2,332

1,399,565

Additions

-

31,144

1,187

-

32,331

At 31st March 2025

115,107

1,273,880

40,577

2,332

1,431,896

DEPRECIATION

At 1st April 2024

39,889

1,141,201

38,531

194

1,219,815

Charge for year

4,947

24,929

489

1,166

31,531

At 31st March 2025

44,836

1,166,130

39,020

1,360

1,251,346

NET BOOK VALUE

At 31st March 2025

70,271

107,750

1,557

972

180,550

At 31st March 2024

75,218

101,535

859

2,138

179,750

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

350,503

549,433

Other debtors

758,623

304,129

Deferred tax asset

Accelerated capital allowances

8,384

12,253

Prepayments

994

5,944

1,118,504

871,759

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

49,363

40,352

Tax

52,492

48,913

Social security and other taxes

3,868

45,647

VAT

19,640

-

Other creditors

1,917

2,099

Accrued expenses

131,823

74,412

259,103

211,423

7.	DEFERRED TAX

£

Balance at 1st April 2024

(12,253

)

Movement in period due to: -

changes in tax allowances

3,869

changes in tax rates

Balance at 31st March 2025

(8,384

)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary

£1

1

1

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anthony Lewis (Senior Statutory Auditor)

for and on behalf of M. D. Coxey and Co. Limited

10.	PENSION COMMITMENTS

Contributions totalling £1,114 (2024: £1,297) were payable to the defined contribution scheme at the year end and are included in Creditors: amounts falling due within one year.

11.	ULTIMATE CONTROLLING PARTY