Company registration number 01181049 (England and Wales)
EURO CLADDINGS LIMITED
Unaudited financial statements
For the year ended 30 June 2025
EURO CLADDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
EURO CLADDINGS LIMITED
BALANCE SHEET
As at 30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,289,841
1,326,133
Investments
4
2
2
1,289,843
1,326,135
Current assets
Stocks
698,721
746,247
Debtors
5
231,207
344,544
Cash at bank and in hand
1,697,186
2,018,572
2,627,114
3,109,363
Creditors: amounts falling due within one year
6
(2,104,925)
(2,096,172)
Net current assets
522,189
1,013,191
Total assets less current liabilities
1,812,032
2,339,326
Creditors: amounts falling due after more than one year
7
(182,228)
(274,360)
Provisions for liabilities
(35,840)
(39,153)
Net assets
1,593,964
2,025,813
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,593,864
2,025,713
Total equity
1,593,964
2,025,813

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

EURO CLADDINGS LIMITED
BALANCE SHEET (continued)
As at 30 June 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 November 2025 and are signed on its behalf by:
P Peccol
Director
Company registration number 01181049 (England and Wales)

The notes on pages 3 to 7 form part of these financial statements.

EURO CLADDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2025
- 3 -
1
Accounting policies
Company information

Euro Claddings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 100 Dudley Road East, Warley, West Midlands, B69 3EB.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% per annum straight line
Plant and equipment
15 - 25% per annum
Fixtures and fittings
15% per annum
Motor vehicles
25% per annum

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

EURO CLADDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 30 June 2025
1
Accounting policies (continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable those overheads that have been incurred in bringing the stocks to their present location and condition. Provision is made for obsolete, slow moving or defective items where appropriate.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

EURO CLADDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 30 June 2025
1
Accounting policies (continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

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

Assets held under finance leases and hire purchase contracts are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

EURO CLADDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 30 June 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
52
48
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
1,302,000
106,036
270,118
378,199
2,056,353
Additions
-
0
-
0
-
0
26,995
26,995
At 30 June 2025
1,302,000
106,036
270,118
405,194
2,083,348
Depreciation and impairment
At 1 July 2024
132,480
87,710
239,991
270,039
730,220
Depreciation charged in the year
23,040
4,177
4,519
31,551
63,287
At 30 June 2025
155,520
91,887
244,510
301,590
793,507
Carrying amount
At 30 June 2025
1,146,480
14,149
25,608
103,604
1,289,841
At 30 June 2024
1,169,520
18,326
30,127
108,160
1,326,133
4
Fixed asset investment
2025
2024
£
£
Investment in subsidiary at cost
2
2
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
231,207
344,544
EURO CLADDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 30 June 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
65,641
69,610
Obligations under hire purchase contracts
10,859
17,114
Trade creditors
1,620,240
1,557,861
Amounts owed to group undertakings
2
2
Corporation tax
69,482
113,610
Other taxation and social security
196,904
206,779
Other creditors
22,949
21,498
Accruals and deferred income
118,848
109,698
2,104,925
2,096,172

A bank loan of £700,000, repayable in monthly instalments over 10 years, was drawn down in October 2018. The loan is secured by a debenture over the freehold property and interest is charged at 2.55% over Lloyds Bank plc base rate.

A bounce back loan of £50,000, repayable in monthly instalments from January 2022 over 5 years, was drawn down in December 2020. The loan was fully repaid during the year.

Hire purchase contracts are secured on the assets to which they relate. All repayments are due within five years.

7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans
171,261
252,534
Obligations under hire purchase contracts
10,967
21,826
182,228
274,360
8
Parent company

The immediate and ultimate parent company and controlling party is Ensco 535 Limited, a company incorporated in England.

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