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REGISTERED NUMBER: 00338560 (England and Wales)

WORCESTERSHIRE METAL HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

CONTENTS OF THE FINANCIAL STATEMENTS

For The Year Ended 30 NOVEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

WORCESTERSHIRE METAL HOLDINGS LIMITED

COMPANY INFORMATION

For The Year Ended 30 NOVEMBER 2025

| DIRECTORS: | C W H Davies

| G J Hawkins

| I Chatwin

| W Hawkins

| REGISTERED OFFICE: | Fox House

| Edward Street

| Redditch

| Worcestershire

| B97 6HA

| REGISTERED NUMBER: | 00338560 (England and Wales)

| AUDITORS: | Charles Lovell & Co Limited

| Chartered Certified Accountants

| and Statutory Auditors

| 8 Church Green East

| Redditch

| Worcestershire

| B98 8BP

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

BALANCE SHEET

30 NOVEMBER 2025

| 30.11.25 | 30.11.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 730,000 |  | 630,000 |  |

Investments | 5 | 732,382 |  | 732,382 |  |

1,462,382 |  | 1,362,382 |  |

CURRENT ASSETS

Cash at bank | 532 |  | 664 |  |

CREDITORS

Amounts falling due within one year | 6 | 904,625 |  | 844,258 |  |

NET CURRENT LIABILITIES | (904,093 | ) | (843,594 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 558,289 |  | 518,788 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (17,642 | ) | (87,047 | ) |

PROVISIONS FOR LIABILITIES | (25,000 | ) | - |  |

NET ASSETS | 515,647 |  | 431,741 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 100,000 |  | 100,000 |  |

Revaluation reserve | 206,611 |  | 131,611 |  |

Retained earnings | 209,036 |  | 200,130 |  |

SHAREHOLDERS' FUNDS | 515,647 |  | 431,741 |  |

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 9 June 2026 and were signed on its behalf by:

C W H Davies - Director

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

NOTES TO THE FINANCIAL STATEMENTS

For The Year Ended 30 NOVEMBER 2025

1. | COMPANY INFORMATION

| Worcestershire Metal Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fox House, Edward Street, Redditch, Worcestershire, B97 6HA.

2. | ACCOUNTING POLICIES

| 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.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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 and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

| 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.

| 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.

| 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.

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Investments in subsidiaries

| Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

| A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

| An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

| Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

| Impairment of fixed assets

| At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

| 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.

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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. 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.

| 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.

| 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 substantially enacted by the reporting end date.

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

| 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.

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Freehold

| property

£ |

| COST OR VALUATION

| At 1 December 2024 | 630,000 |  |

| Revaluations | 100,000 |  |

| At 30 November 2025 | 730,000 |  |

| NET BOOK VALUE

| At 30 November 2025 | 730,000 |  |

| At 30 November 2024 | 630,000 |  |

| Cost or valuation at 30 November 2025 is represented by:

| Freehold

| property

£ |

| Valuation in 2013 | 250,029 |  |

| Valuation in 2025 | 100,000 |  |

| Cost | 379,971 |  |

730,000 |  |

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 30 NOVEMBER 2025

4. | TANGIBLE FIXED ASSETS - continued

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

| 30.11.25 |  | 30.11.24

£ | £ |

| Cost | 379,971 |  | 379,971 |  |

| Freehold land and buildings were valued on an open market basis on 20 October 2025 by Eddisons Chartered Surveyors Birmingham .

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 December 2024

| and 30 November 2025 | 732,382 |  |

| NET BOOK VALUE

| At 30 November 2025 | 732,382 |  |

| At 30 November 2024 | 732,382 |  |

| The fixed asset investment is being carried at deemed cost at the date of transition to FRS102. If this were carried at cost it would amount to £70,800.

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Vernier Springs and Pressings Limited

| Registered office: United Kingdom

| Nature of business: Manufacturing

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

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

| 30.11.25 |  | 30.11.24

£ | £ |

| Bank loans and overdrafts (see note 8) | 68,974 |  | 64,307 |  |

| Amounts owed to group undertakings | 834,408 |  | 778,708 |  |

| Other creditors | 1,243 |  | 1,243 |  |

904,625 |  | 844,258 |  |

WORCESTERSHIRE METAL HOLDINGS LIMITED (REGISTERED NUMBER: 00338560)

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 30 NOVEMBER 2025

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

| 30.11.25 |  | 30.11.24

£ | £ |

| Bank loans (see note 8) | 17,642 |  | 87,047 |  |

8. | LOANS

| The commercial mortgage of £86,616 (2024 - £151,354) is repayable by 30 June 2031. This loan was interest only for the first 5 years payable quarterly. The rate of interest on the loan is set at 1.55% above LIBOR from 1 December 2024 to 30 November 2025.

| The commercial mortgage of £86,616 is expected to be fully repaid by March 2027 due to prior and planned overpayments. The aging of the creditor in these accounts are based on that expectation.

| The commercial mortgage is secured by legal charges over the land and premises at Edward Street and Britten Street.

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.11.25 |  | 30.11.24

| value: | £ | £ |

| 100,000 | Ordinary A | £1 | 100,000 |  | 100,000 |  |

10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| John Thomas Harris (Senior Statutory Auditor)

| for and on behalf of Charles Lovell & Co Limited

11. | RELATED PARTY DISCLOSURES

| During the year, the company paid dividends totalling £10,000 (2024 £10,000) to the ultimate parent company company.

| As at the balance sheet date £735,658 was owed by Worcestershire Metal Holdings Limited to a wholly owned subsidiary.

| As at the balance sheet date £98,750 owed by Worcestershire Metal Holdings Limited to the ultimate parent company.

12. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Vernier Metal Products Limited.