REGISTERED NUMBER: 03468563 (England and Wales)

INDUSTRIAL RUBBER LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D T Hill

Mr L J Bown

Mr S G Vine

Mrs A L Vine

Mrs S J Bown

Mrs A J Hill

SECRETARY:

Ms H Todd

REGISTERED OFFICE:

4 Fielder Drive

Newgate Lane Industrial Estate

Fareham

Hampshire

PO14 1JE

REGISTERED NUMBER:

03468563 (England and Wales)

AUDITORS:

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2DR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

481,669

522,573

Investments

6

2

2

481,671

522,575

CURRENT ASSETS

Stocks

7

747,419

809,223

Debtors

8

812,318

965,021

Cash at bank

12,321

9,253

1,572,058

1,783,497

CREDITORS

Amounts falling due within one year

9

1,057,027

1,100,092

NET CURRENT ASSETS

515,031

683,405

TOTAL ASSETS LESS CURRENT LIABILITIES

996,702

1,205,980

CREDITORS

Amounts falling due after more than one year

10

(21,815

)

(52,982

)

PROVISIONS FOR LIABILITIES

13

(105,033

)

(112,980

)

NET ASSETS

869,854

1,040,018

CAPITAL AND RESERVES

Called up share capital

121,220

121,220

Retained earnings

748,634

918,798

869,854

1,040,018

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 Board of Directors and authorised for issue on 6 January 2026 and were signed on its behalf by:

Mr D T Hill - Director

1.	STATUTORY INFORMATION

Industrial Rubber Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03468563 and the registered office address is located at 4 Fielder Drive, Newgate Lane Industrial Estate, Fareham, Hampshire, PO14 1JE.

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.

The presentation currency is £ sterling.

Going concern

The financial statements have been prepared on the going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Industrial Rubber Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Leases

A lease that does not transfer substantially all of the risks and rewards of ownership is classified as an operating lease and is therefore not included in the statement of financial position.

Turnover

Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred income where applicable.

Turnover is derived from the sale of rubber mouldings and is recognised upon despatch of the goods.

Intangible fixed assets

Goodwill, being the amount paid in connection with the acquisition of a business, is amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold improvements

Over the period of the lease

Plant and machinery

3 - 15 years straight line

Fixtures and fittings

3 - 12 years straight line

Motor vehicles

3 - 4 years straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Statement of Income and Retained Earnings.

Investments in subsidiaries

Investments in subsidiaries are stated at cost less any provision for impairment.

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 purchase on a weighted average cost basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks 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 the Statement of Income and Retained Earnings.

Financial instruments

The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

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 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 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.

Research and development

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

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Income and Retained Earnings over the relevant period. The capital element of the future payments is treated as liability.

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings 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 the Statement of Income and Retained Earnings in the period to which they relate.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2024 - 55 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2024

and 30 September 2025

2,901,473

AMORTISATION

At 1 October 2024

and 30 September 2025

2,901,473

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 October 2024

431,369

3,086,127

187,646

37,200

3,742,342

Additions

-

4,216

22,034

-

26,250

Disposals

-

-

(20,442

)

-

(20,442

)

At 30 September 2025

431,369

3,090,343

189,238

37,200

3,748,150

DEPRECIATION

At 1 October 2024

393,633

2,606,208

182,728

37,200

3,219,769

Charge for year

4,212

56,893

6,049

-

67,154

Eliminated on disposal

-

-

(20,442

)

-

(20,442

)

At 30 September 2025

397,845

2,663,101

168,335

37,200

3,266,481

NET BOOK VALUE

At 30 September 2025

33,524

427,242

20,903

-

481,669

At 30 September 2024

37,736

479,919

4,918

-

522,573

Included within the net book value is £128,727 (2024: £139,682) relating to assets held under hire purchase agreements.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2024

and 30 September 2025

36,501

PROVISIONS

At 1 October 2024

and 30 September 2025

36,499

NET BOOK VALUE

At 30 September 2025

2

At 30 September 2024

2

7.

STOCKS

2025

2024

£

£

Raw materials

149,820

152,017

Work-in-progress

181,462

203,524

Finished goods

416,137

453,682

747,419

809,223

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

678,579

829,908

Prepayments and accrued income

133,739

135,113

812,318

965,021

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank facilities

292,317

349,078

Hire purchase contracts (see note 11)

36,008

36,008

Trade creditors

432,606

441,886

Amounts owed to group undertakings

2

2

Corporation tax

10,868

52,342

Social security and other taxes

119,622

115,127

Other creditors

14,210

13,841

Accruals and deferred income

151,394

91,808

1,057,027

1,100,092

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 11)

21,815

52,982

11.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

36,008

36,008

Between one and five years

21,815

52,982

57,823

88,990

Non-cancellable

operating leases

2025

2024

£

£

Within one year

304,500

260,833

Between one and five years

630,000

845,250

934,500

1,106,083

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

57,823

88,990

Bank facilities

292,317

349,078

350,140

438,068

Obligations under hire purchase contracts are secured on the assets to which they relate.

The bank facilities are secured by a fixed and floating charge over the assets of the company.

13.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

105,033

112,980

Deferred tax

£

Balance at 1 October 2024

112,980

Credit to Statement of Income and Retained Earnings during year

(7,947

)

Balance at 30 September 2025

105,033

The deferred tax provision relates solely to accelerated capital allowances.

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

The Report of the Auditors was unqualified.

Liz Martyn FCA (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP