ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Company Registration Number: 06359106

W J COMPONENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

31 DECEMBER 2025

W J COMPONENTS LIMITED

REGISTERED NUMBER: 06359106

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Intangible assets	4		144,841		197,881
Tangible assets	5		889,910		1,034,067
			1,034,751		1,231,948
Current assets
Stocks	6	239,114		285,060
Debtors	7	972,964		723,624
Cash at bank and in hand	8	111,046		438,971
		1,323,124		1,447,655
Creditors: amounts falling due within one year	9	(972,992)		(1,182,969)
Net current assets			350,132		264,686
Total assets less current liabilities			1,384,883		1,496,634
Creditors: amounts falling due after more than one year	10		(156,417)		(140,967)
Provisions for liabilities
Deferred tax		(153,839)		(181,970)
			(153,839)		(181,970)
Net assets			1,074,627		1,173,697

Capital and reserves
Called up share capital	100	100
Profit and loss account	1,074,527	1,173,597
	1,074,627	1,173,697

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W J COMPONENTS LIMITED

REGISTERED NUMBER: 06359106

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 July 2026.

D Bullement

Director

The notes on pages 3 to 13 form part of these financial statements.

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

The Company is a private company limited by shares and registered in England and Wales. Its registered address is 3 Burma Drive, Marfleet Industrial Estate, Hull, East Yorkshire, England, HU9 5SD.

These financial statements have been presented in Pound Sterling ('£') as this is the currency of the primary economic environment in which the Company operates and rounded to the nearest pound.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The Directors prepare forecasts and budgets and conclude that the Company has sufficient resource to continue for at least 12 months from the signing of these financial statements. Therefore, the accounts have been prepared on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

				Development expenditure	-	5	years
				Computer software	-	5	years

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property improvements	-	20 years straight line
Plant and machinery	-	5 years straight line
Motor vehicles	-	5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.13

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 42 (2024 - 46).

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Intangible assets

	Development expenditure	Computer software	Total
	£	£	£
Cost
At 1 January 2025	916,672	56,082	972,754
Additions	-	2,500	2,500
At 31 December 2025	916,672	58,582	975,254
Amortisation
At 1 January 2025	743,418	31,455	774,873
Charge for the year on owned assets	43,097	12,443	55,540
At 31 December 2025	786,515	43,898	830,413
Net book value
At 31 December 2025	130,157	14,684	144,841
At 31 December 2024	173,254	24,627	197,881

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Tangible fixed assets

	Leasehold property improvements	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2025	549,154	1,057,673	296,051	1,902,878
Additions	28,642	38,247	44,868	111,757
Disposals	-	(10,921)	-	(10,921)
At 31 December 2025	577,796	1,084,999	340,919	2,003,714
Depreciation
At 1 January 2025	183,681	609,655	75,475	868,811
Charge for the year on owned assets	71,592	118,593	60,255	250,440
Disposals	-	(5,447)	-	(5,447)
At 31 December 2025	255,273	722,801	135,730	1,113,804
Net book value
At 31 December 2025	322,523	362,198	205,189	889,910
At 31 December 2024	365,473	448,018	220,576	1,034,067

6.	Stocks
		2025	2024
		£	£

Raw materials and consumables	139,176	156,817
Work in progress (goods to be sold)	20,090	24,011
Finished goods and goods for resale	79,848	104,232
	239,114	285,060

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£

Due after more than one year
Amounts owed by group undertakings	1,598	-
	1,598	-
Due within one year
Trade debtors	481,279	519,863
Amounts owed by group undertakings	300,000	-
Other debtors	30,492	59,636
Prepayments and accrued income	159,595	144,125
	972,964	723,624

8.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	111,046	438,971

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	17,037	51,111
Trade creditors	263,123	405,958
Amounts owed to group undertakings	-	171,983
Corporation tax	3,908	-
Other taxation and social security	93,846	57,324
Obligations under finance lease and hire purchase contracts	301,194	147,039
Other creditors	265,502	301,082
Accruals and deferred income	28,382	48,472
	972,992	1,182,969

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

10.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	-	17,037
Net obligations under finance leases and hire purchase contracts	156,417	123,930
	156,417	140,967

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.

Amounts falling due within one year
Bank loans	17,037	51,111
Amounts falling due 1-2 years
Bank loans	-	17,037


	17,037	68,148

Bank loans occur interest at a rate of 3.9% plus base rate per annum and is due for repayment in April 2026. Bank loans are secured by way of a debenture and an intercompany guarantee between companies under common control.

Within one year	301,194	147,039
Between 1-5 years	156,417	123,930
	457,611	270,969

Finance leases are secured against the asset to which they relate.

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

13.	Deferred taxation

	2025	2024
	£	£

At beginning of year	181,970	-
Charged to profit or loss	-	181,970
Utilised in year	(28,131)	-
At end of year	153,839	181,970

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	154,494	183,420
Short term timing differences	(655)	(1,450)
	153,839	181,970

14.	Prior year adjustment

During the year, the Company reviewed its assessment of deferred taxation in respect of prior period balances. As a result of this review, it was identified that deferred tax had not previously been recognised on certain timing differences in accordance with FRS 102.

Accordingly, an adjustment has been made to recognise the deferred tax liability in the comparative period. This has been treated as a prior year adjustment, and comparative amounts have been restated in these financial statements accordingly.

The effect of the prior year adjustment on the profit and loss account for the year ended 31 December 2024 is £181,970.

15.	Pension commitments

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The charge to profit and loss in the amounted to £1,900 (2024 - £50,463). At the period end £7,111 (2024 - £5,801) was outstanding.

16.	Related party transactions
	The Company has taken advantage of the exemption contained in Section 33 of the FRS102 'Related Party Disclosures' from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the Company are controlled within the group and the Company is included within the group accounts.

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W J COMPONENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

17.	Controlling party

The immediate parent undertaking continued to be WJC Holdings Ltd, a company registered in England and Wales. The ultimate parent company is WJTT Group Ltd, a company registered in England and Wales.

The Directors do not consider there to be an ultimate controlling party.

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