Company No: 00914645 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Debra Jane Petty
	Paula Helen Stenhouse

SECRETARY

Debra Jane Petty

REGISTERED OFFICE	Prospect Works
	Airedale Road
	Keighley
	BD21 4LW
	United Kingdom

COMPANY NUMBER

00914645 (England and Wales)

ACCOUNTANT	Ian Walker & Co
	Wellington House
	Aviator Court
	Clifton Moor
	York
	YO30 5FD

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	1,218,103		1,262,519
		1,218,103		1,262,519
Current assets
Stocks	5	179,800		240,200
Debtors	6	264,331		234,459
Cash at bank and in hand	7	380,627		357,435
		824,758		832,094
Creditors: amounts falling due within one year	8	( 726,516)		( 765,543)
Net current assets		98,242		66,551
Total assets less current liabilities		1,316,345		1,329,070
Creditors: amounts falling due after more than one year	9	0		( 9,502)
Provision for liabilities		( 18,499)		( 21,490)
Net assets		1,297,846		1,298,078
Capital and reserves
Called-up share capital	10	8,000		8,000
Revaluation reserve		1,002,639		1,026,569
Profit and loss account		287,207		263,509
Total shareholder's funds		1,297,846		1,298,078

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Wells (Spiral Tubes) Limited (registered number: 00914645) were approved and authorised for issue by the Board of Directors on 04 June 2026. They were signed on its behalf by:

Paula Helen Stenhouse Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wells (Spiral Tubes) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Prospect Works, Airedale Road, Keighley, BD21 4LW, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

3 years straight line

Other 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	5 years straight line
Vehicles	4 years straight line
Fixtures and fittings	6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		14

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2025	12,235		12,235
At 31 December 2025	12,235		12,235
Accumulated amortisation
At 01 January 2025	12,235		12,235
At 31 December 2025	12,235		12,235
Net book value
At 31 December 2025	0		0
At 31 December 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 January 2025	1,432,111		1,334,660		22,103		252,180		3,041,054
Additions	0		8,648		0		858		9,506
At 31 December 2025	1,432,111		1,343,308		22,103		253,038		3,050,560
Accumulated depreciation
At 01 January 2025	259,987		1,248,161		22,102		248,285		1,778,535
Charge for the financial year	28,642		24,161		0		1,119		53,922
At 31 December 2025	288,629		1,272,322		22,102		249,404		1,832,457
Net book value
At 31 December 2025	1,143,482		70,986		1		3,634		1,218,103
At 31 December 2024	1,172,124		86,499		1		3,895		1,262,519

5. Stocks

	2025		2024
	£		£
Stocks	179,800		240,200

6. Debtors

	2025		2024
	£		£
Trade debtors	261,989		232,679
Prepayments	2,042		1,446
Other debtors	300		334
	264,331		234,459

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	380,627		357,435

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	8,782		9,568
Trade creditors	150,018		172,723
Amounts owed to Parent undertakings	332,452		332,452
Taxation and social security	44,988		35,552
Other creditors	190,276		215,248
	726,516		765,543

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		9,502

There are no amounts included above in respect of which any security has been given by the small entity.

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
4,000 Ordinary shares of £ 1.00 each	4,000		4,000
4,000 Deferred ordinary shares of £ 1.00 each	4,000		4,000
	8,000		8,000

11. Ultimate controlling party

Parent Company:

Wells Spiral Holdings Limited