Company registration number 04623699 (England and Wales)
WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 12
WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
6
767,304
908,802
Current assets
Stocks
7
259,211
269,398
Debtors
8
3,291,595
3,056,900
Cash at bank and in hand
3,104,838
2,298,472
6,655,644
5,624,770
Creditors: amounts falling due within one year
9
(1,604,655)
(1,599,524)
Net current assets
5,050,989
4,025,246
Total assets less current liabilities
5,818,293
4,934,048
Creditors: amounts falling due after more than one year
10
(9,223)
(11,830)
Provisions for liabilities
(165,051)
(195,066)
Net assets
5,644,019
4,727,152
Capital and reserves
Called up share capital
12
3
3
Profit and loss reserves
5,644,016
4,727,149
Total equity
5,644,019
4,727,152
WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 July 2026 and are signed on its behalf by:
Mr M J Rossi
Director
Company registration number 04623699 (England and Wales)
WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Westmoreland Mechanical Testing & Research Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Minton Place, Victoria Road, Bicester, Oxfordshire, OX26 6QB. The company trading address is 19 Wildmere Road, Banbury, Oxon, OX16 3JU.

1.1
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
2%, 5%, 10%, 20% and 25% straight line
Fixtures, fittings & equipment
20% straight line
Plant and equipment
25% straight line
Motor vehicles
25% straight line

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.

WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.5
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.

1.6
Stock and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Work in progress is valued by assessing the stage of completion of each job with reference to its total forecast costs. The revenue is then adjusted to account for that proportion of a job’s value to date in line with the costs incurred.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
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. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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.

WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 paymen ts 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. A m ounts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
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 substantively enacted by the reporting end date.

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.

1.11
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.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 7 -
1.14
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Work in progress

The company's finance team use professional judgement when calculating the work in progress at a period end.

The company invoices based on services completed to a period. Therefore, for orders unfulfilled but part invoiced, the company spreads the remaining value, less a percentage of the overall fee associated with the drafting of a report, over the testing period. Income is recognised in the corresponding reporting periods. The income associated with a report is recognised on completion of the report.

When, at the reporting date, orders not yet fulfilled have not been part invoiced, the company recognises a percentage of the overall fee in respect of the upfront machining costs, this is recognised in the accounting period when machining occurred. The remaining order value is recognised as above.

When calculating work in progress the company's finance team use judgement in assessing a relevant percentage which is typical of the company's financial model.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
29
30
4
Directors' remuneration

No remuneration was paid to the directors.

WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
5
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
327,332
386,271
Adjustments in respect of prior periods
-
0
34,043
Other tax
23,548
-
0
Total current tax
350,880
420,314
Deferred tax
Origination and reversal of timing differences
(30,015)
(1,703)
Total tax charge
320,865
418,611
6
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Plant and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
1,326,093
64,717
1,372,464
36,010
2,799,284
Additions
3,203
-
0
48,667
-
0
51,870
At 31 December 2025
1,329,296
64,717
1,421,131
36,010
2,851,154
Depreciation and impairment
At 1 January 2025
993,634
62,081
811,587
23,180
1,890,482
Depreciation charged in the year
16,623
847
169,483
6,415
193,368
At 31 December 2025
1,010,257
62,928
981,070
29,595
2,083,850
Carrying amount
At 31 December 2025
319,039
1,789
440,061
6,415
767,304
At 31 December 2024
332,459
2,636
560,877
12,830
908,802
7
Stocks
2025
2024
£
£
Work in progress
247,485
236,786
Finished goods and goods for resale
11,726
32,612
259,211
269,398
WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,056,775
936,925
Corporation tax recoverable
130,370
17,435
Amounts owed by related parties
11,269
12,097
Other debtors
2,028,308
2,030,138
Prepayments and accrued income
64,356
58,902
3,291,078
3,055,497
2025
2024
Amounts falling due after more than one year:
£
£
Prepayments and accrued income
517
1,403
Total debtors
3,291,595
3,056,900

Amounts due from related parties are repayable on demand, unsecured and not subject to interest.

Other debtors include £2,026,629 (2024: £2,026,629) owed from directors.

9
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
2,607
2,366
Related party loans
1,210,927
1,293,509
Trade creditors
28,058
50,526
Taxation and social security
153,889
106,791
Deferred income
129,313
44,664
Other creditors
12,024
14,962
Accruals
67,837
86,706
1,604,655
1,599,524

Amounts due to related parties are repayable on demand, unsecured and not subject to interest.

10
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
9,223
11,830
WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
166,089
196,155
Retirement benefit obligations
(1,038)
(1,089)
165,051
195,066
2025
Movements in the year:
£
Liability at 1 January 2025
195,066
Credit to profit or loss
(30,015)
Liability at 31 December 2025
165,051

The amount of deferred tax asset expected to reverse within the next 12 months is £39,847, the balance carried forward relates to deferred capital allowances.

12
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3
3
3
3

13
Financial commitments, guarantees and contingent liabilities

At the balance sheet date the company owed retirement contributions totalling £7,902 (2024: £7,902) which are included in creditors.

WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
14
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
312,768
46,082
Between two and five years
1,202,976
-
0
In over five years
1,253,100
-
0
2,768,844
46,082
15
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions (net of VAT) with related parties:

Purchases
Purchases
2025
2024
£
£
Other related parties
441,904
291,817

The related parties were all under common control.

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Other related parties
1,222,951
1,308,471

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Other related parties
11,269
12,097

Other related parties are companies under common control by virtue of common ownership.

WESTMORELAND MECHANICAL TESTING & RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
16
Directors' transactions

Dividends totalling £0 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Closing balance
£
£
Mr M J Rossi -
-
2,026,629
2,026,629
2,026,629
2,026,629

The loan is unsecured, interest free and fully repayable on demand.

Until the company makes a demand for repayment, the loan is subject to 120 equal monthly repayments from 1st January 2026.

17
Ultimate controlling party

The company was under the control of its directors by virtue of their 100% shareholding.

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