REGISTERED NUMBER: 02557968 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

FOR

TRIMAT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J B Oswald

S D Oswald

D J Taylor

REGISTERED OFFICE:

Narrowboat Way

Hurst Business Park

Brierley Hill

West Midlands

DY5 1UF

REGISTERED NUMBER:

02557968 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

5

180,673

208,875

CURRENT ASSETS

Stocks

355,496

383,069

Debtors

6

624,047

805,211

Prepayments and accrued income

47,484

45,205

Cash at bank and in hand

444,196

278,284

1,471,223

1,511,769

CREDITORS

Amounts falling due within one year

7

219,032

246,058

NET CURRENT ASSETS

1,252,191

1,265,711

TOTAL ASSETS LESS CURRENT LIABILITIES

1,432,864

1,474,586

PROVISIONS FOR LIABILITIES

(45,168

)

(52,219

)

ACCRUALS AND DEFERRED INCOME

(27,813

)

(7,539

)

NET ASSETS

1,359,883

1,414,828

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Revaluation reserve

9

39,279

58,919

Retained earnings

1,310,604

1,345,909

SHAREHOLDERS' FUNDS

1,359,883

1,414,828

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

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 22nd May 2026 and were signed on its behalf by:

J B Oswald - Director

1.	STATUTORY INFORMATION

Trimat Limited is a private company limited by shares, registered in England and Wales. The company is a wholly owned subsidiary of JSD Trimat Limited. Copies of the consolidated financial statements of JSD Trimat Limited are available from its registered office at Trimat Building, Narrowboat Way, Brierley Hill, West Midlands, DY5 1UF.

The principal activity of the company is that of the manufacture of industrial brake linings.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 from preparing consolidated financial statements.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Functional currency

The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Preparation of consolidated financial statements

The financial statements contain information about Trimat Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, JSD Trimat Limited, Trimat Building, Narrowboat Way, Brierley Hill, West Midlands, DY5 1UF.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company is a wholly owned subsidiary of JSD Trimat Limited. Transactions with the sister company Donsons Limited during the year consisted of management charges of £240,585 (2024: £244,867).

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Turnover

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

Turnover is recognised upon delivery of goods to the customer

Tangible fixed assets

Plant and machinery is carried at it's revalued amount, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Any revaluation increase in the carrying amount of plant and machinery is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended.

Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset’s original cost is transferred from revaluation reserve to retained earnings.

All other tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. Depreciation on other assets is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Machinery & equipment - 10% on cost

Office equipment - 10% - 33% on cost

Motor vehicles - 30% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.

Stocks

Stock and work in progress are valued at the lower of cost and estimated net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first-in first-out basis. The cost of work in progress and finished goods comprises materials, direct labour and attributable production overheads. Net realisable value is based on the estimated sales price after allowing for all further costs of completion and disposal.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like tangible fixed assets, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stock is also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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.

Trade receivables

Trade receivables are initially recognised at fair value and are subsequently measured at amortised cost less any provision for bad and doubtful debts.

Trade payables

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of Business from suppliers. Amounts 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.

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 various board meetings throughout the year.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue In operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The directors of the company have reported a healthy profit for the year. The company continues to be cash generative and continues to meet its obligations as they fall due.

Events after the end of the reporting period

There are no significant events to report.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 21 ) .

5.	TANGIBLE FIXED ASSETS

Machinery

Motor

& equipment

vehicles

Totals

£

£

£

COST OR VALUATION

At 1st September 2024

602,444

5,800

608,244

Additions

19,641

-

19,641

At 31st August 2025

622,085

5,800

627,885

DEPRECIATION

At 1st September 2024

394,483

4,886

399,369

Charge for year

47,603

240

47,843

At 31st August 2025

442,086

5,126

447,212

NET BOOK VALUE

At 31st August 2025

179,999

674

180,673

At 31st August 2024

207,961

914

208,875

Cost or valuation at 31st August 2025 is represented by:

Machinery

Motor

& equipment

vehicles

Totals

£

£

£

Valuation in 2017

(305,563

)

-

(305,563

)

Cost

927,648

5,800

933,448

622,085

5,800

627,885

If machinery & equipment had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

869,331

869,331

Aggregate depreciation

740,815

740,815

Machinery & equipment was valued on fair value basis on 3rd January 2018 by Lambert Smith Hampton .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

485,192

654,657

Other debtors

138,855

150,554

624,047

805,211

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

78,292

176,147

Taxation and social security

101,863

22,348

Other creditors

38,877

47,563

219,032

246,058

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

Share capital 1

£1

10,000

10,000

9.

RESERVES

Revaluation

reserve

£

At 1st September 2024

58,919

Deferred tax on revaluation

gain

6,546

Transfer excess depreciation

(26,186

)

At 31st August 2025

39,279

10.	OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £570,556 (2024- £789,674) of which £228,302 (2024: £220,317) is due within twelve months.