Company registration number 01387629 (England and Wales)
BEP SURFACE TECHNOLOGIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
BEP SURFACE TECHNOLOGIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
BEP SURFACE TECHNOLOGIES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
100,001
134,470
Tangible assets
4
2,560,691
2,067,661
2,660,692
2,202,131
Current assets
Stocks
143,578
123,192
Debtors
5
735,454
863,144
Cash at bank and in hand
758,588
1,303,166
1,637,620
2,289,502
Creditors: amounts falling due within one year
6
(456,062)
(609,952)
Net current assets
1,181,558
1,679,550
Total assets less current liabilities
3,842,250
3,881,681
Creditors: amounts falling due after more than one year
7
(617,990)
(683,016)
Provisions for liabilities
(65,524)
(84,338)
Net assets
3,158,736
3,114,327
Capital and reserves
Called up share capital
8
90
90
Revaluation reserve
606,007
561,458
Distributable reserves
2,552,639
2,552,779
Total equity
3,158,736
3,114,327

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 31 August 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 members have 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.

BEP SURFACE TECHNOLOGIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2025
31 August 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 January 2026 and are signed on its behalf by:
A McClusky
Director
Company Registration No. 01387629
BEP SURFACE TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
1
Accounting policies
Company information

BEP Surface Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Eton Hill Road, Radcliffe, Manchester, M26 2XT.

1.1
Accounting convention

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, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the manufacture and sale of precision grinders and electro-plates 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.

Amounts in respect of long term contracts are recognised in accordance with the stage of completion of the contract in proportion to the costs incurred compared to the estimated total contract costs.

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
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Development costs
25% per annum on a straight line basis
BEP SURFACE TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -
1.5
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 buildings
2% - 4% per annum on a straight line basis
Plant and machinery
33.33% per annum on a reducing balance basis or 10% per annum on a straight line basis
Fixtures, fittings and equipment
25% per annum on a reducing balance basis
Motor vehicles
25% per annum on a reducing balance basis

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BEP SURFACE TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
1.9
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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

BEP SURFACE TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors and 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

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.

1.12
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.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

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

BEP SURFACE TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 7 -
1.14
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 lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.15
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.

2
Employees

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

2025
2024
Number
Number
Total
40
39
3
Intangible fixed assets
Development costs
£
Cost
At 1 September 2024 and 31 August 2025
193,301
Amortisation and impairment
At 1 September 2024
58,831
Amortisation charged for the year
34,469
At 31 August 2025
93,300
Carrying amount
At 31 August 2025
100,001
At 31 August 2024
134,470
BEP SURFACE TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -
4
Tangible fixed assets
Freehold buildings
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 September 2024
1,386,571
2,854,526
280,844
117,104
4,639,045
Additions
-
0
672,732
3,052
-
0
675,784
Revaluation
52,778
-
0
-
0
-
0
52,778
At 31 August 2025
1,439,349
3,527,258
283,896
117,104
5,367,607
Depreciation and impairment
At 1 September 2024
87,846
2,188,449
252,846
42,243
2,571,384
Depreciation charged in the year
26,503
181,883
8,431
18,715
235,532
At 31 August 2025
114,349
2,370,332
261,277
60,958
2,806,916
Carrying amount
At 31 August 2025
1,325,000
1,156,926
22,619
56,146
2,560,691
At 31 August 2024
1,298,725
666,077
27,998
74,861
2,067,661

The property was revalued by Bradley Hall, Independent Valuers at an open market value of £1,325,000 in March 2025. The directors consider this value to be appropriate at 31 August 2025.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been cost £987,399 (20 2 4: £987,399) and accumulated depreciation £282,730 (20 2 4: £264,457).

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
530,409
621,168
Other debtors
205,045
241,976
735,454
863,144
BEP SURFACE TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
51,103
49,470
Trade creditors
80,233
57,988
Other taxation and social security
45,901
29,870
Other creditors
278,825
472,624
456,062
609,952

The banks loans are secured on the land and buildings of the company.

Included in other creditors are net obligations under hire purchase contracts totalling £13,923 (2024: £13,961) which are secured against the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
606,317
657,420
Other creditors
11,673
25,596
617,990
683,016

The bank loans are secured on the land and buildings of the company.

Included in other creditors are net obligations under hire purchase contracts totalling £11,673 (2024: £25,596) which are secured against the assets to which they relate.

Amounts included above which fall due after five years are as follows:
Payable by instalments
383,777
442,337
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
90
90
90
90
9
Parent company

The ultimate parent company is BEP Technologies Limited, a company registered in England and Wales, which is exempt from the requirement to prepare consolidated financial statements.

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