REGISTERED NUMBER: 07639343 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BENWELDSECURE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J McGill

D R Milne

R Hartwell

S J McGill

M Popov

J Barty

REGISTERED OFFICE:

26 The Business Centre

Molly Millars Lane

Wokingham

Berkshire

RG41 2QY

REGISTERED NUMBER:

07639343 (England and Wales)

AUDITORS:

Cooper Parry Group Limited

Statutory Auditor

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

FIXED ASSETS

Intangible assets

4

-

6,126

Tangible assets

5

174,870

181,909

174,870

188,035

CURRENT ASSETS

Stocks

76,011

71,619

Debtors

6

1,538,092

1,331,031

Cash at bank

114,940

46,232

1,729,043

1,448,882

CREDITORS

Amounts falling due within one year

7

1,370,862

1,183,511

NET CURRENT ASSETS

358,181

265,371

TOTAL ASSETS LESS CURRENT LIABILITIES

533,051

453,406

CREDITORS

Amounts falling due after more than one year

8

(124,335

)

(258,609

)

PROVISIONS FOR LIABILITIES

(201,021

)

(45,058

)

NET ASSETS

207,695

149,739

CAPITAL AND RESERVES

Called up share capital

11

20,500

20,500

Revaluation reserve

12

79,509

79,509

Capital redemption reserve

4,500

4,500

Retained earnings

103,186

45,230

SHAREHOLDERS' FUNDS

207,695

149,739

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 and authorised for issue by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

J McGill - Director

1.	STATUTORY INFORMATION

Benweldsecure Ltd 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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually

associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements - 5 years

Plant & machinery - 5 years

Motor vehicles - 5 years

Office equipment - 5 years

Computer equipment - 3 years

Plant and machinery is carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment loss.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchases on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stock are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax

allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Research and development

Expenditure on research and development is written off in the period in which it is incurred.

Foreign currencies

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange

rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Operating leases

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

Pension costs

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Provisions for liabilities

Provisions are made when an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 April 2024

and 31 March 2025

435,592

AMORTISATION

At 1 April 2024

429,466

Amortisation for year

6,126

At 31 March 2025

435,592

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

6,126

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 April 2024

11,458

285,173

18,942

Additions

43,883

16,797

1,041

At 31 March 2025

55,341

301,970

19,983

DEPRECIATION

At 1 April 2024

1,503

149,693

17,382

Charge for year

5,268

52,507

2,601

At 31 March 2025

6,771

202,200

19,983

NET BOOK VALUE

At 31 March 2025

48,570

99,770

-

At 31 March 2024

9,955

135,480

1,560

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

41,932

7,498

365,003

Additions

-

1,358

63,079

At 31 March 2025

41,932

8,856

428,082

DEPRECIATION

At 1 April 2024

8,343

6,173

183,094

Charge for year

8,467

1,275

70,118

At 31 March 2025

16,810

7,448

253,212

NET BOOK VALUE

At 31 March 2025

25,122

1,408

174,870

At 31 March 2024

33,589

1,325

181,909

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

399,797

232,013

Amounts owed by group undertakings

1,026,121

1,045,144

Other debtors

48,613

53,874

1,474,531

1,331,031

Amounts falling due after more than one year:

Other debtors

63,561

-

Aggregate amounts

1,538,092

1,331,031

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

105,727

113,273

Hire purchase contracts (see note 9)

24,902

46,318

Trade creditors

226,445

71,868

Amounts owed to group undertakings

779,086

815,566

Taxation and social security

58,997

16,369

Other creditors

175,705

120,117

1,370,862

1,183,511

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

86,333

195,833

Hire purchase contracts (see note 9)

38,002

62,776

124,335

258,609

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

24,902

46,318

Between one and five years

38,002

62,776

62,904

109,094

Non-cancellable

operating leases

2025

2024

£

£

Within one year

11,062

12,666

Between one and five years

3,687

14,749

14,749

27,415

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

62,904

109,094

Amounts payable under finance leases or hire purchase contracts are secured on the underlying assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

20,500

Ordinary

£1

20,500

20,500

12.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

79,509

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

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

14.	RELATED PARTY DISCLOSURES

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.

15.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Surelock McGill Limited, a company incorporated in England.

J McGill, director, is also a director and the majority stakeholder of Surelock McGill Limited, and thus has ultimate control.

Copies of the group accounts can be obtained from 26, The Business Centre, Molly Millars Lane, Wokingham, Berkshire, RG41 2QY.