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REGISTERED NUMBER: 01429150 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS

| FOR THE YEAR ENDED 31 MAY 2025

| FOR

| WELSTED JOINERY LIMITED

| WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |

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 |

| WELSTED JOINERY LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MAY 2025

| DIRECTORS: | J Welsted

| B T Welsted

| REGISTERED OFFICE: | Saltcoats Industrial Estate

| 31 Cutlers Rd

| South Woodham Ferrers

| Chelmsford

| Essex

| CM3 5WA

| REGISTERED NUMBER: | 01429150 (England and Wales)

| ACCOUNTANTS: | Lucentum Business Services Ltd

| Beckwith Barn

| Warren Estate

| Lordship Road

| Chelmsford

| Essex

| CM1 3WT

| WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |

BALANCE SHEET

31 MAY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 454,455 |  | 487,264 |  |

CURRENT ASSETS

Stocks | 107,000 |  | 107,000 |  |

Debtors | 6 | 155,349 |  | 212,243 |  |

Cash at bank and in hand | 4,372 |  | 12,670 |  |

266,721 |  | 331,913 |  |

CREDITORS

Amounts falling due within one year | 7 | 395,723 |  | 348,388 |  |

NET CURRENT LIABILITIES | (129,002 | ) | (16,475 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 325,453 |  | 470,789 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (177,266 | ) | (218,980 | ) |

PROVISIONS FOR LIABILITIES | 10 | (42,154 | ) | (48,490 | ) |

NET ASSETS | 106,033 |  | 203,319 |  |

CAPITAL AND RESERVES

Called up share capital | 5,000 |  | 5,000 |  |

Retained earnings | 101,033 |  | 198,319 |  |

106,033 |  | 203,319 |  |

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.

| WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2026 and were signed on its behalf by:

J Welsted - Director

| WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1. | STATUTORY INFORMATION

| Welsted Joinery 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. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Land and buildings | - | Over the period of the lease

| Plant and machinery etc | - | 20% on cost and 10% on reducing balance

| 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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

| 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.

| WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

3. | ACCOUNTING POLICIES - continued

| 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 the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives.Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those wheresubstantially all of the benefits and risks of ownership are assumed by the company. Obligations under suchagreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

| 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.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 21 (2024 - 23 ) .

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 June 2024 | 296,783 |  | 662,759 |  | 959,542 |  |

| Additions | - |  | 930 |  | 930 |  |

| At 31 May 2025 | 296,783 |  | 663,689 |  | 960,472 |  |

| DEPRECIATION

| At 1 June 2024 | 64,732 |  | 407,546 |  | 472,278 |  |

| Charge for year | 2,375 |  | 31,364 |  | 33,739 |  |

| At 31 May 2025 | 67,107 |  | 438,910 |  | 506,017 |  |

| NET BOOK VALUE

| At 31 May 2025 | 229,676 |  | 224,779 |  | 454,455 |  |

| At 31 May 2024 | 232,051 |  | 255,213 |  | 487,264 |  |

| WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

5. | TANGIBLE FIXED ASSETS - continued

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 1 June 2024

| and 31 May 2025 | 94,119 |  |

| DEPRECIATION

| At 1 June 2024 | 26,426 |  |

| Charge for year | 11,089 |  |

| At 31 May 2025 | 37,515 |  |

| NET BOOK VALUE

| At 31 May 2025 | 56,604 |  |

| At 31 May 2024 | 67,693 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 103,983 |  | 158,580 |  |

| Other debtors | 51,366 |  | 53,663 |  |

155,349 |  | 212,243 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 37,767 |  | 52,297 |  |

| Hire purchase contracts | 16,815 |  | 16,815 |  |

| Trade creditors | 111,103 |  | 102,375 |  |

| Amounts owed to group undertakings | 72,108 |  | 104,108 |  |

| Taxation and social security | 139,466 |  | 56,650 |  |

| Other creditors | 18,464 |  | 16,143 |  |

395,723 |  | 348,388 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans | 147,344 |  | 172,242 |  |

| Hire purchase contracts | 29,922 |  | 46,738 |  |

177,266 |  | 218,980 |  |

| WELSTED JOINERY LIMITED (REGISTERED NUMBER: 01429150) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

2025 | 2024 |

£ | £ |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 70,946 |  | 94,920 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 12,510 |  | 29,053 |  |

| Bank loans | 172,601 |  | 195,486 |  |

185,111 |  | 224,539 |  |

| Bank loan and overdraft are secured by a legal charge over the long leasehold land and buildings.

10. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 42,154 |  | 48,490 |  |

| Deferred |

| tax |

£ |

| Balance at 1 June 2024 | 48,490 |  |

| Provided during year | (6,336 | ) |

| Balance at 31 May 2025 | 42,154 |  |

11. | ULTIMATE CONTROLLING PARTY

| The immediate and ultimate parent company is Welsted Joinery Holdings Limited, a company registered in England & Wales.