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REGISTERED NUMBER: 01315576 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MAY 2025 |

| FOR |

| METALWAYS LIMITED |

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| METALWAYS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MAY 2025

| DIRECTORS: | Mr T Tugwell

| Mr S Scott

| Ms L M Tugwell

| REGISTERED OFFICE: | 20 Churchill Way

| Fleckney

| Leicestershire

| LE8 8UD

| REGISTERED NUMBER: | 01315576 (England and Wales)

| ACCOUNTANTS: | TGFP

| Chartered Accountants

| Fulford House

| Newbold Terrace

| Leamington Spa

| Warwickshire

| CV32 4EA

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

BALANCE SHEET

31 MAY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 719,408 |  | 735,220 |  |

Investment property | 5 | 700,000 |  | 695,000 |  |

1,419,408 |  | 1,430,220 |  |

CURRENT ASSETS

Stocks | 48,000 |  | 45,000 |  |

Debtors | 6 | 190,663 |  | 132,437 |  |

Investments | 7 | 14,718 |  | 14,272 |  |

Cash at bank and in hand | 63,323 |  | 174,874 |  |

316,704 |  | 366,583 |  |

CREDITORS

Amounts falling due within one year | 8 | 187,675 |  | 202,297 |  |

NET CURRENT ASSETS | 129,029 |  | 164,286 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,548,437 |  | 1,594,506 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (7,500 | ) | (16,500 | ) |

PROVISIONS FOR LIABILITIES | (75,396 | ) | (76,424 | ) |

NET ASSETS | 1,465,541 |  | 1,501,582 |  |

CAPITAL AND RESERVES

Called up and paid share capital | 1,001 |  | 1,001 |  |

Revaluation reserve | 11 | 372,570 |  | 365,070 |  |

Retained earnings | 1,091,970 |  | 1,135,511 |  |

1,465,541 |  | 1,501,582 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

BALANCE SHEET - continued

31 MAY 2025

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2026 and were signed on its behalf by:

Mr S Scott - Director

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1. | STATUTORY INFORMATION

| Metalways 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Land and buildings | - | No depreciation

| Plant and machinery etc | - | 25% on cost, 20% on cost, 15% on cost and 10% on cost

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| 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

| 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.

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 9 (2024 - 9 ) .

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 June 2024 | 680,000 |  | 335,544 |  | 1,015,544 |  |

| Revaluations | 5,000 |  | - |  | 5,000 |  |

| At 31 May 2025 | 685,000 |  | 335,544 |  | 1,020,544 |  |

| DEPRECIATION

| At 1 June 2024 | - |  | 280,324 |  | 280,324 |  |

| Charge for year | - |  | 20,812 |  | 20,812 |  |

| At 31 May 2025 | - |  | 301,136 |  | 301,136 |  |

| NET BOOK VALUE

| At 31 May 2025 | 685,000 |  | 34,408 |  | 719,408 |  |

| At 31 May 2024 | 680,000 |  | 55,220 |  | 735,220 |  |

| Included in cost or valuation of land and buildings is freehold land of £ 685,000 (2024 - £ 680,000 ) which is not depreciated.

| Cost or valuation at 31 May 2025 is represented by:

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| Valuation in 2016 | 410,483 |  | - |  | 410,483 |  |

| Valuation in 2018 | 25,000 |  | - |  | 25,000 |  |

| Valuation in 2022 | 25,000 |  | - |  | 25,000 |  |

| Valuation in 2023 | (15,000 | ) | - |  | (15,000 | ) |

| Valuation in 2024 | (67,557 | ) | - |  | (67,557 | ) |

| Valuation in 2025 | 5,000 |  | - |  | 5,000 |  |

| Cost | 302,074 |  | 335,544 |  | 637,618 |  |

685,000 |  | 335,544 |  | 1,020,544 |  |

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

4. | TANGIBLE FIXED ASSETS - continued

| If freehold property had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 302,074 |  | 302,074 |  |

| Value of land in freehold land and buildings | 99,541 |  | 99,541 |  |

| Freehold land and buildings were valued on an open market basis on 31 May 2025 by the directors .

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 June 2024 | 695,000 |  |

| Revaluations | 5,000 |  |

| At 31 May 2025 | 700,000 |  |

| NET BOOK VALUE

| At 31 May 2025 | 700,000 |  |

| At 31 May 2024 | 695,000 |  |

| Fair value at 31 May 2025 is represented by:

£ |

| Valuation in 2022 | 55,040 |  |

| Valuation in 2024 | 5,000 |  |

| Valuation in 2025 | 5,000 |  |

| Cost | 634,960 |  |

700,000 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 182,484 |  | 120,792 |  |

| Other debtors | 8,179 |  | 11,645 |  |

190,663 |  | 132,437 |  |

7. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Unlisted investments | 14,718 |  | 14,272 |  |

| METALWAYS LIMITED (REGISTERED NUMBER: 01315576) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 9,000 |  | 9,000 |  |

| Trade creditors | 90,617 |  | 113,642 |  |

| Taxation and social security | 51,993 |  | 31,024 |  |

| Other creditors | 36,065 |  | 48,631 |  |

187,675 |  | 202,297 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 7,500 |  | 16,500 |  |

10. | SECURED DEBTS

| Lloyds Bank have a fixed and floating charge over the assets of the company.

11. | RESERVES

| The revaluation reserve is a non-distributable reserve relating to unrealised gains or losses on the revaluation of freehold property and investment property, net of related deferred tax.