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Registered number: 01412018 NATION WILCOX SYSTEMS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
NATION WILCOX SYSTEMS LIMITED REGISTERED NUMBER: 01412018 BALANCE SHEET AS AT 31 JANUARY 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 5,175 |  | 6,088
|  |  | 5,175 |  | 6,088
Current assets |  |  |  |  |
Stocks |  | 10,000 |  | 20,000 |
Debtors: amounts falling due within one year | 7 | 298,686 |  | 458,197 |
Cash at bank and in hand | 8 | 118,712 |  | 97,021 |
|  | 427,398 |  | 575,218 |
Creditors: amounts falling due within one year | 9 | (267,377) |  | (340,390) |
Net current assets |  |  | 160,021 |  | 234,828
Total assets less current liabilities |  |  | 165,196 |  | 240,916
Net assets |  |  | 165,196 |  | 240,916
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 100
Profit and loss account |  |  | 165,096 |  | 240,816
|  |  | 165,196 |  | 240,916
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NATION WILCOX SYSTEMS LIMITED REGISTERED NUMBER: 01412018 BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2026 The director considers 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 director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 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 profit and loss account 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 by:
Mr A N Nation
Director
Date: 12 May 2026
The notes on pages 3 to 8 form part of these financial statements. Page 2
NATION WILCOX SYSTEMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
1. | General information
Caterpoint Systems Limited is a private company limited by shares incorporated in England and Wales. The registered office is 196 Boldmere Road, Sutton Coldfield, West Midlands, United Kingdom, B73 5UE. 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 Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | 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. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 3
NATION WILCOX SYSTEMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 2. Accounting policies (continued)
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | 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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Taxation
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 balance sheet date in the countries where the Company operates and generates income.
| 2.8 | 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. Page 4
NATION WILCOX SYSTEMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 2. Accounting policies (continued)
| 2.9 | 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, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 33% | reducing balance
|  |  |  | Fixtures and fittings | - | 15% | reducing balance
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.
| 2.10 | 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 weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet 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.
| 2.11 | 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.
| 2.12 | 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.
| 2.13 | 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. Page 5
NATION WILCOX SYSTEMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026 2. Accounting policies (continued)
| 2.14 | 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 an annual general meeting.
3. | Employees
| The average monthly number of employees, including the director, during the year was as follows:
|  |  | 2026 | 2025
|  |  | No. | No.
|  | Employees | 18 | -
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 February 2025 | 250,000
| At 31 January 2026 | 250,000
| Amortisation |
| At 1 February 2025 | 250,000
| At 31 January 2026 | 250,000
| Net book value |
| At 31 January 2026 | -
Page 6
NATION WILCOX SYSTEMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
5. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 February 2025 | 22,629 | 6,088 | 28,717
| At 31 January 2026 | 22,629 | 6,088 | 28,717
| Depreciation |  |  |
| At 1 February 2025 | 22,629 | - | 22,629
| Charge for the year on owned assets | - | 913 | 913
| At 31 January 2026 | 22,629 | 913 | 23,542
| Net book value |  |  |
| At 31 January 2026 | - | 5,175 | 5,175
6. | Stocks
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Stock | 10,000 | 20,000
|  | 10,000 | 20,000
7. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade debtors | 291,690 | 233,818
| Amounts owed by joint ventures and associated undertakings | - | 220,485
| Prepayments and accrued income | 6,996 | 3,894
|  | 298,686 | 458,197
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NATION WILCOX SYSTEMS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
8. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 118,712 | 97,021
|  | 118,712 | 97,021
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank loans | 45,540 | 45,540
| Trade creditors | 25,949 | 16,429
| Amounts owed to associates | 857 | -
| Other taxation and social security | 170,430 | 261,882
| Other creditors | 11,372 | 5,609
| Accruals and deferred income | 13,229 | 10,930
|  | 267,377 | 340,390
10. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2025 - 100) Ordinary shares of £1.00 each | 100 | 100
11. | Controlling party
The company is under the control of Nation Wilcox Family Holding Limited, which holds 100% of the share capital. Nation Wilcox Family Holdings Limited, is a private company, limited by shares, and incorporated in England and Wales. Its registered office address St. Michael's House 196 Boldmere Road, Boldmere, Sutton Coldfield, West Midlands, B73 5UE. The company is under the ultimate control of Andrew Nation, director.
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