R.Wilson & Co.(platers)limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

R.Wilson & Co.(platers)limited is a private company, limited by shares, incorporated in England & Wales, registered number 00449802 . The registered office is Zachrome Works, Sheffield Road, Whittington Moor, Chesterfield, S41 8NH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses.

Depreciation is provided at rates calculated to write off the cost or valuation of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	33 - 50 years straight line
Plant & Machinery	15 years straight line
Motor Vehicles	5 years straight line
Fixtures & Fittings	5 - 10 years 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 and loss.

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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R.Wilson & Co.(platers)limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. 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.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from 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 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 date.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, where these differences are expected to reverse in the future.

Deferred tax liabilities are recognised on all material taxable timing differences. Deferred tax assets are recognised to the extent that it is probable that they will be recovered against future taxable profits.

Deferred tax is measured using tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates that have been enacted or substantively enacted at the reporting date.

Current and deferred tax are recognised in profit or loss for the year.

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R.Wilson & Co.(platers)limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 21 (2024: 20)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost or Valuation
As at 1 January 2025	920,800	1,377,743	30,990	134,314	2,463,847
Additions	29,255	46,262	-	3,845	79,362
Disposals	(8,850 )	(640,805 )	-	(89,184 )	(738,839 )

As at 31 December 2025	941,205	783,200	30,990	48,975	1,804,370

Depreciation
As at 1 January 2025	144,511	1,041,395	12,396	114,245	1,312,547
Provided during the period	13,974	45,155	6,198	4,333	69,660
Disposals	(3,855 )	(624,567 )	-	(87,498 )	(715,920 )

As at 31 December 2025	154,630	461,983	18,594	31,080	666,287

Net Book Value
As at 31 December 2025	786,575	321,217	12,396	17,895	1,138,083

As at 1 January 2025	776,289	336,348	18,594	20,069	1,151,300

Included in Land and Property is land of £266,000 (2024: £266,000) which is not depreciated.

The Land and Property was valued in 2016. The directors have considered market conditions and are satisfied that the carrying value is not materially different from its current fair value.

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Land & Property
	Freehold
	£
Cost	732,566
Accumulated depreciation and impairment	464,810

Carrying amount	267,756

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R.Wilson & Co.(platers)limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Stocks

	2025	2024
	£	£
Stock	54,687	59,756

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	340,877	225,095
Other debtors	29,685	36,310

	370,562	261,405
Due after more than one year
Amounts owed by group undertakings	1,574,410	1,383,336

	1,944,972	1,644,741

Trade debtors are subject to an invoice discounting agreement.

The directors consider the above balance owed by group undertakings to be fully recoverable.

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	14,322	22,483
Trade creditors	124,549	47,646
Bank loans and overdrafts	204,024	241,122
Amounts owed to participating interests	540	-
Other creditors	59,789	34,316
Taxation and social security	135,148	59,770

	538,372	405,337

Included in bank loans and overdrafts is £40,398 (2024: £78,874) secured by a fixed charge on the land and property of the Company and a fixed and floating charge over all assets of the Company.

Included in bank loans and overdrafts is £126,815 (2024: £161,118) which has been advanced under invoice discounting and is secured over the debts to which the finance relates.

Obligations under finance leases and hire purchase contracts are secured by a fixed charge over the assets in which they are financed.

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R.Wilson & Co.(platers)limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	31,330	16,274
Bank loans	250,714	290,064
Other creditors	41,284	47,134

	323,328	353,472

Included in bank loans and overdrafts is £250,714 (2024: £290,064) secured by a fixed charge on the land and property of the Company and a fixed and floating charge over all assets of the Company.

Obligations under finance leases and hire purchase contracts are secured by a fixed charge over the assets in which they are financed.

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	14,322	22,483
Later than one year and not later than five years	31,330	16,274

	45,652	38,757

	45,652	38,757

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	62,881	62,881

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	13,119	13,119
Later than one year and not later than five years	3,837	16,956

	16,956	30,075

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R.Wilson & Co.(platers)limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

12. Reserves

	Share Premium	Revaluation reserve	Capital Redemption	Profit and Loss Account
	£	£	£	£
As at 1 January 2025	1,000	436,670	53,153	1,429,970
Profit for the year and total comprehensive income	-	-	-	169,768

Transfer from revaluation reserve	-	-	-	4,064
Transfer to/from Profit & Loss Account	-	(4,064 )	-	-

As at 31 December 2025	1,000	432,606	53,153	1,603,802

The transfer from the revaluation reserve to the profit and loss account represents the realisation of revaluation gains through additional depreciation on the revalued freehold property.

13. Related Party Transactions

At the reporting end date, amounts owed by related parties, being entities with control, joint control or significant influence over the company, were £1,570,057 (2024: £1,383,336).

14. Exceptional Items

Exceptional items comprise redundancy costs of £30,938 incurred as part of a restructuring of the business.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,138,083		1,151,300

			1,138,083		1,151,300
CURRENT ASSETS
Stocks	5	54,687		59,756
Debtors	6	1,944,972		1,644,741
Cash at bank and in hand		-		14,086

		1,999,659		1,718,583
Creditors: Amounts Falling Due Within One Year	7	(538,372 )		(405,337 )

NET CURRENT ASSETS (LIABILITIES)			1,461,287		1,313,246

TOTAL ASSETS LESS CURRENT LIABILITIES			2,599,370		2,464,546

Creditors: Amounts Falling Due After More Than One Year	8		(323,328 )		(353,472 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(122,600 )		(127,400 )

NET ASSETS			2,153,442		1,983,674

CAPITAL AND RESERVES
Called up share capital	10		62,881		62,881
Share premium account			1,000		1,000
Revaluation reserve	12		432,606		436,670
Capital redemption reserve			53,153		53,153
Profit and Loss Account			1,603,802		1,429,970

SHAREHOLDERS' FUNDS			2,153,442		1,983,674