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2024-08-31 1273971 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 1273971

The West Group Limited
Annual Report and Financial Statements
for the Year Ended 31 August 2025

The West Group Limited

Contents

Company Information | 1
Strategic Report | 2
Directors' Report | 3
Statement of Directors' Responsibilities | 4
Independent Auditor's Report | 5 to 8
Profit and Loss Account and Statement of Retained Earnings | 9
Balance Sheet | 10
Statement of Cash Flows | 11
Notes to the Financial Statements | 12 to 24

The West Group Limited

Company Information

Directors | Mr BE West Mr R J R Oddy Mr MT Middleton Ms C Jupp Mr M W Bylett Mrs J Mills Mr P West

Registered office | 29 Aston Road Waterlooville Hants England PO7 7XJ

Auditors | MMO Audit Services Limited Chartered Accountants and Statutory AuditorsWellesley House 204 London Road Waterlooville Hampshire PO7 7AN

The West Group Limited

Strategic Report for the Year Ended 31 August 2025

The directors present their strategic report for the year ended 31 August 2025.

Principal activity

The principal activity of the company is that of the design, production and supply of miniature fluid control solutions.

Fair review of the business

The company delivered a record year, achieving its highest levels of turnover and operating profit to date, supported by an improved gross profit margin. This strong performance reflects the organisation’s continued focus on disciplined commercial management and careful monitoring of customer quality and risk profiles.
Our business strategy combines direct and distributor-led sales, underpinned by strong technical support and enhanced by the use of e commerce platforms to increase customer accessibility and service efficiency. The company’s success continues to rely on three core strengths:
• strong and long-standing customer relationships,
• a commitment to technological innovation, and
• resilient and well-managed supply chain operations.
The company’s financial position remains robust, as demonstrated in the year-end balance sheet, providing a solid foundation for future growth.

Principal risks and uncertainties

The principal risks and uncertainties faced by the company continue to relate to:
1. Demand levels in a recovering global economy, and
2. Foreign exchange volatility, particularly as a significant proportion of our trading is conducted in US dollars and sterling.
To mitigate these risks, the company:
• invests consistently in product and service innovation to maintain its position as the trusted global leader in the design, manufacture, and supply of precision fluid control components and solutions; and
• actively manages currency exposure by balancing customer and supplier transactions within the same currencies wherever possible.

Approved and authorised by the Board on 25 February 2026 and signed on its behalf by:

......................................... Mr MT Middleton Director

The West Group Limited

Directors' Report for the Year Ended 31 August 2025

The directors present their report and the financial statements for the year ended 31 August 2025.

Directors of the company

The directors who held office during the year were as follows:

Mr SJ Barnett (ceased 2 September 2024)

Ms MA McStravick (ceased 2 September 2024)

Mr BE West

Mr R J R Oddy

Mr D Osborne (ceased 2 September 2024)

Mr MT Middleton

Ms C Jupp (appointed 2 September 2024)

Mr M W Bylett (appointed 1 March 2025)

Mrs J Mills (appointed 1 May 2025)

Mr P West (appointed 2 September 2024)

Financial instruments

Objectives and policies

The company's main objective is to increase turnover and improve the group position.

Price risk, credit risk, liquidity risk and cash flow risk

The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.
In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding through the use of overdrafts at floating rates of interest. All of the business' cash balances are held in such a way that it achieves a competitive rate of interest. The business makes use of the money market facilities where funds are available.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
The trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 25 February 2026 and signed on its behalf by:

......................................... Mr MT Middleton Director

The West Group Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The West Group Limited

Independent Auditor's Report to the Members of The West Group Limited

Opinion

We have audited the financial statements of The West Group Limited (the 'company') for the year ended 31 August 2025, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

The West Group Limited

Independent Auditor's Report to the Members of The West Group Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• | the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• | the financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of directors' remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The West Group Limited

Independent Auditor's Report to the Members of The West Group Limited

Extent to which the audit was considered of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
• Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
• Reviewing minutes of meetings of those charged with governance;
• Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

The West Group Limited

Independent Auditor's Report to the Members of The West Group Limited

......................................
Gillian McIntosh (Senior Statutory Auditor)
For and on behalf of MMO Audit Services Limited, Statutory Auditor
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

25 February 2026

The West Group Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 August 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 14,614,789 | 12,373,147
Cost of sales |  | (5,094,270) | (4,575,332)
Gross profit |  | 9,520,519 | 7,797,815
Administrative expenses |  | (8,148,925) | (7,462,040)
Other operating income | 4 | 414,312 | 447,960
Operating profit | 6 | 1,785,906 | 783,735
Other interest receivable and similar income | 7 | 4,149 | 5,980
Interest payable and similar charges | 8 | (163,905) | (137,246)
|  | (159,756) | (131,266)
Profit before tax |  | 1,626,150 | 652,469
Taxation | 12 | (412,313) | (168,001)
Profit for the financial year |  | 1,213,837 | 484,468
Retained earnings brought forward |  | 7,586,049 | 7,678,572
Dividends paid |  | (502,286) | (576,991)
Retained earnings carried forward |  | 8,297,600 | 7,586,049

The West Group Limited

(Registration number: 1273971)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 13 | 35,346 | 33,958
Tangible assets | 14 | 4,199,120 | 4,152,940
Investments | 15 | 100 | 100
|  | 4,234,566 | 4,186,998
Current assets |  |  |
Stocks | 16 | 1,788,446 | 2,033,098
Debtors | 17 | 6,395,513 | 5,846,698
Cash at bank and in hand |  | 518,236 | 70,284
|  | 8,702,195 | 7,950,080
Creditors: Amounts falling due within one year | 19 | (3,185,609) | (3,072,370)
Net current assets |  | 5,516,586 | 4,877,710
Total assets less current liabilities |  | 9,751,152 | 9,064,708
Creditors: Amounts falling due after more than one year | 19 | (854,191) | (887,512)
Provisions for liabilities | 20 | (223,132) | (214,918)
Net assets |  | 8,673,829 | 7,962,278
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Revaluation reserve |  | 375,229 | 375,229
Retained earnings |  | 8,297,600 | 7,586,049
Shareholders' funds |  | 8,673,829 | 7,962,278

Approved and authorised by the Board on 25 February 2026 and signed on its behalf by:

......................................... Mr MT Middleton Director

The West Group Limited

Statement of Cash Flows for the Year Ended 31 August 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 1,213,837 | 484,468
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 6 | 242,748 | 270,961
Loss on disposal of tangible assets | 5 | 1,779 | -
Finance income | 7 | (4,149) | (5,980)
Finance costs | 8 | 62,517 | 78,329
Income tax expense | 12 | 412,313 | 168,001
|  | 1,929,045 | 995,779
Working capital adjustments |  |  |
Decrease in stocks | 16 | 244,653 | 156,703
Increase in trade debtors | 17 | (597,709) | (267,362)
Increase/(decrease) in trade creditors | 19 | 284,256 | (391,988)
Cash generated from operations |  | 1,860,245 | 493,132
Income taxes paid | 12 | (223,985) | (63,530)
Net cash flow from operating activities |  | 1,636,260 | 429,602
Cash flows from investing activities |  |  |
Interest received | 7 | 4,149 | 5,980
Acquisitions of tangible assets |  | (286,137) | (187,318)
Proceeds from sale of tangible assets |  | 5,126 | -
Acquisition of intangible assets | 13 | (11,085) | (3,915)
Net cash flows from investing activities |  | (287,947) | (185,253)
Cash flows from financing activities |  |  |
Interest paid | 8 | (62,517) | (78,329)
Proceeds from bank borrowing draw downs |  | (183,026) | (235,090)
Payments to finance lease creditors |  | (22,693) | (108,816)
Dividends paid |  | (502,286) | (576,991)
Net cash flows from financing activities |  | (770,522) | (999,226)
Net increase/(decrease) in cash and cash equivalents |  | 577,791 | (754,877)
Cash and cash equivalents at 1 September |  | (583,886) | 170,991
Cash and cash equivalents at 31 August |  | (6,095) | (583,886)

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
29 Aston Road
Waterlooville
Hants
PO7 7XJ
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
The depreciation policy has been amended in the current year to better reflect the estimated useful life of the assets.

Asset class | Depreciation method and rate
Furniture and fixtures | 10% straight line
Plant and machinery | 10% straight line
Computer Equipment | 20% straight line
Land and buildings | 2% straight line
Motor vehicles | 25% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 5 years straight line
Patents | 10% straight line
Website | 20% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions to the scheme are charged to the profit or loss in the year to which they relate.

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Financial instruments

Classification
Basic financial instruments are initially recognised at the transaction value.
Financial assets are derecognised when either the contractual right to cash flows from the asset are fully settled or they expire, or substantially all of the risks and rewards of the asset are transferred to another party.
Financial liabilities are derecognised when the liability is cancelled, discharged or expires,

3 | Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Sale of goods | 14,614,789 | 12,373,147

The analysis of the company's Turnover for the year by market is as follows:

| 2025 £ | 2024 £
UK | 6,847,929 | 6,329,145
Europe | 2,024,547 | 1,612,371
Rest of world | 5,742,313 | 4,431,631
| 14,614,789 | 12,373,147

4 | Other operating income

The analysis of the company's other operating income for the year is as follows:

| 2025 £ | 2024 £
Miscellaneous other operating income | 414,312 | 447,960

5 | Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Loss on disposal of Tangible assets | (1,779) | -

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

6 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 233,052 | 261,945
Amortisation expense | 9,696 | 9,016
Research and development cost | 472 | 990
Operating lease expense - plant and machinery | 127,003 | 122,370
Loss on disposal of property, plant and equipment | 1,779 | -

7 | Other interest receivable and similar income

| 2025 £ | 2024 £
Interest income on bank deposits | 163 | 5,980
Other finance income | 3,986 | -
| 4,149 | 5,980

8 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest on bank overdrafts and borrowings | 56,907 | 69,635
Interest on obligations under finance leases and hire purchase contracts | 5,610 | 8,433
Interest expense on other finance liabilities | - | 261
Foreign exchange gains | 101,388 | 58,917
| 163,905 | 137,246

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

9 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 5,284,812 | 4,507,797
Social security costs | 543,528 | 483,931
Other post-employment benefit costs | 166,688 | 152,300
| 5,995,028 | 5,144,028

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Administration and support | 125 | 119
| 125 | 119

10 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 634,814 | 1,388,521

In respect of the highest paid director:

| 2025 £ | 2024 £
Remuneration | 192,019 | 392,321

11 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the financial statements | 17,000 | 16,000

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

12 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 404,099 | 153,323
Deferred taxation |  |
Arising from origination and reversal of timing differences | 8,214 | 14,678
Tax expense in the income statement | 412,313 | 168,001

13 | Intangible assets

| Goodwill £ | Trademarks, patents and licenses £ | Other intangible assets £ | Total £
Cost or valuation
At 1 September 2024 | 50,000 | 81,625 | 71,971 | 203,596
Additions acquired separately | - | - | 11,085 | 11,085
At 31 August 2025 | 50,000 | 81,625 | 83,056 | 214,681
Amortisation
At 1 September 2024 | 50,000 | 51,745 | 67,893 | 169,638
Amortisation charge | - | 8,163 | 1,534 | 9,697
At 31 August 2025 | 50,000 | 59,908 | 69,427 | 179,335
Carrying amount
At 31 August 2025 | - | 21,717 | 13,629 | 35,346
At 31 August 2024 | - | 29,880 | 4,078 | 33,958

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

14 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Plant and machinery £ | Office equipment £
Cost or valuation
At 1 September 2024 | 3,262,048 | 634,930 | 1,262,985 | 1,039,475
Additions | 41,978 | 49,900 | 145,013 | 49,246
Disposals | - | (281,950) | (196,347) | (19,109)
At 31 August 2025 | 3,304,026 | 402,880 | 1,211,651 | 1,069,612
Depreciation
At 1 September 2024 | 110,157 | 363,767 | 874,633 | 697,941
Charge for the year | 10,103 | 38,414 | 50,528 | 134,007
Eliminated on disposal | - | (278,083) | (196,347) | (16,071)
At 31 August 2025 | 120,260 | 124,098 | 728,814 | 815,877
Carrying amount
At 31 August 2025 | 3,183,766 | 278,782 | 482,837 | 253,735
At 31 August 2024 | 3,151,891 | 271,163 | 388,352 | 341,534

| Total £
Cost or valuation
At 1 September 2024 | 6,199,438
Additions | 286,137
Disposals | (497,406)
At 31 August 2025 | 5,988,169
Depreciation
At 1 September 2024 | 2,046,498
Charge for the year | 233,052
Eliminated on disposal | (490,501)
At 31 August 2025 | 1,789,049
Carrying amount
At 31 August 2025 | 4,199,120
At 31 August 2024 | 4,152,940

Included within the net book value of land and buildings above is £3,183,767 (2024 - £3,151,891) in respect of freehold land and buildings.

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

15 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 100 | 100

Subsidiaries | £
Cost or valuation
At 1 September 2024 | 100
Provision
Carrying amount
At 31 August 2025 | 100
At 31 August 2024 | 100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Northern Technical & Chemical Services Limited | 29 Aston Road Waterlooville Hampshire PO7 7XJ England | Ordinary Shares | 100% | 100%

Subsidiary undertakings
Northern Technical & Chemical Services Limited The principal activity of Northern Technical & Chemical Services Limited is Dormant company.

16 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 1,788,446 | 2,033,098

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

17 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 2,609,154 | 1,774,157
Amounts owed by related parties |  | 3,490,069 | 3,744,025
Other debtors |  | - | 31,339
Prepayments |  | 296,290 | 248,283
Income tax asset | 12 | - | 48,894
|  | 6,395,513 | 5,846,698

18 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash on hand | 3,245 | 3,172
Cash at bank | 514,991 | 67,112
| 518,236 | 70,284
Bank overdrafts | (524,331) | (654,170)
Cash and cash equivalents in statement of cash flows | (6,095) | (583,886)

19 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 22 | 628,088 | 930,325
Trade creditors |  | 1,181,012 | 1,291,774
Amounts due to related parties |  | - | 77,310
Social security and other taxes |  | 197,290 | 111,409
Other payables |  | 299,227 | 293,581
Accruals |  | 748,772 | 367,971
Corporation tax liability | 12 | 131,220 | -
|  | 3,185,609 | 3,072,370
Due after one year |  |  |
Loans and borrowings | 22 | 854,191 | 887,512

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

20 | Deferred tax and other provisions

| Deferred tax £ | Total £
At 1 September 2024 | 214,918 | 214,918
Increase (decrease) in existing provisions | 8,214 | 8,214
At 31 August 2025 | 223,132 | 223,132

21 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary share of £1 each | 1,000 | 1,000 | 1,000 | 1,000

22 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 809,113 | 853,804
Hire purchase contracts | 45,078 | 33,708
| 854,191 | 887,512

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 83,467 | 221,802
Bank overdrafts | 524,331 | 654,170
Hire purchase contracts | 20,290 | 54,353
| 628,088 | 930,325

The West Group Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Bank borrowings

One bank loan is denominated in British Pound Sterling with a nominal interest rate of 7.25%, and the final instalment is due on 8 November 2028. The carrying amount at year end is £301,970 (2024 - £315,459). The loan is secured by way of a fixed and floating charge over the assets of the company.
One bank loan is denominated in British Pound Sterling with a nominal interest rate of 6.5%, and the final instalment is due on 6 April 2033. The carrying amount at year end is £149,981 (2024 - £165,852). The loan is secured by way of a fixed and floating charge over the assets of the company.
One bank loan is denominated in British Pound Sterling with a nominal interest rate of 2.25%, and the final instalment is due on 31 October 2029. The carrying amount at year end is £440,628 (2024 - £469,358). The loan is secured by way of a fixed charge over the property.

Included in the loans and borrowings are the following amounts due after more than five years:

| 2025 £ | 2024 £
After more than five years by instalments | 380,635 | 459,536

| - | -

23 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 150,106 | 131,520
Later than one year and not later than five years | 134,672 | 101,992
| 284,778 | 233,512

The amount of non-cancellable operating lease payments recognised as an expense during the year was £143,431 (2024 - £171,465).

24 | Parent and ultimate parent undertaking

The company's immediate parent is The West Group (Fluid Power) Limited, incorporated in England & Wales.
These financial statements are available upon request from 29 Aston Road, Waterlooville, Portsmouth, PO7 7XJ
The ultimate controlling party is Mr O West.