M & D Welding (Gloucester) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

M & D Welding (Gloucester) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05630322 . The registered office is Units 1&2 Steadings Business Centre, Maisemore, Gloucester, Gloucestershire, GL2 8EY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and 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 presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded

to the nearest Pound.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

In the application of the company's accounting policies, the directors are required to make judgements, estimates and

assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the

revision and future periods if the revision affects both current and future periods.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements

other than those detailed in these accounting policies.

2.4. 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.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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M & D Welding (Gloucester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Freehold	0%
Plant & Machinery	25% Straight Line
Motor Vehicles	25% Straight Line
Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Straight Line

2.6. 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.

2.7. Financial Instruments

Classification

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as

financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a

residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any

component that creates a financial liability of the company is presented as a liability on the balance sheet. The

corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss

account.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for

those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which

is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing

transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured

at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment

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 profit or loss as described below. A

non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred

after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an

asset is the higher of its fair value less costs to sell and its value in use. Where indicators exist for a decrease in

impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an

individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount

higher than the carrying value had no impairment been recognised. For financial assets carried at amortised cost, the

amount of an impairment is the difference between the asset's carrying amount and the present value of estimated

future cash flows, discounted at the financial asset's original effective interest rate. For financial assets carried at cost

less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of

the amount that would be received for the asset if it were to be sold at the reporting date. Where indicators exist for a

decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment

was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an

individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying

amount higher than the carrying value had no impairment been recognised.

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M & D Welding (Gloucester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

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 statement of comprehensive income because of 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 end of the reporting period.

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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Trade debtors

Trade debtors are amounts due from customers for goods sold in the ordinary course of business. Trade debtors are

recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at

the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established

when there is objective evidence that the company will not be able to collect all amounts due according to the original

terms of the debtors.

2.10. Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business

from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional

right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the

reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting

date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are

included at the undiscounted amount of cash expected to be paid.

2.11. Share capital

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other

resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and

the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

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M & D Welding (Gloucester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 December 2024	120,000	90,339	751,020	3,083
Additions	-	8,829	80,386	-
Disposals	-	-	(443,175 )	-

As at 30 November 2025	120,000	99,168	388,231	3,083

Depreciation
As at 1 December 2024	-	79,127	418,835	771
Provided during the period	-	7,201	89,216	771
Disposals	-	-	(194,947 )	-

As at 30 November 2025	-	86,328	313,104	1,542

Net Book Value
As at 30 November 2025	120,000	12,840	75,127	1,541

As at 1 December 2024	120,000	11,212	332,185	2,312


	Computer Equipment	Total
	£	£
Cost
As at 1 December 2024	2,312	966,754
Additions	-	89,215
Disposals	-	(443,175 )

As at 30 November 2025	2,312	612,794

Depreciation
As at 1 December 2024	1,518	500,251
Provided during the period	577	97,765
Disposals	-	(194,947 )

As at 30 November 2025	2,095	403,069

Net Book Value
As at 30 November 2025	217	209,725

As at 1 December 2024	794	466,503

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M & D Welding (Gloucester) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	5,130
Prepayments and accrued income	13,440	6,659
Other debtors	4,000	4,000

	17,440	15,789

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	71,710
Trade creditors	6,840	624
Bank loans and overdrafts	1,532	2,645
Corporation tax	37,999	63,802
Other taxes and social security	2,438	2,604
VAT	19,265	17,444
Accruals and deferred income	2,633	37,797
Directors' loan accounts	128	8,326

	70,835	204,952

7. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	71,710

8. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
5,000 Ordinary Shares of £ 1.00 each	5,000	5,000
5,000 Ordinary A shares of £ 1.00 each	5,000	5,000

	10,000	10,000

The different classes of shares referred to above carry separate rights to dividends. In all other significant respects the different classes of shares rank pari passu.

Called up share capital

This represents the nominal value of the issued equity share capital of the company.

Profit and loss account

This represents the cumulative profits or losses, net of dividends paid and other adjustments.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		209,725		466,503

			209,725		466,503
CURRENT ASSETS
Debtors	5	17,440		15,789
Cash at bank and in hand		69,546		199,249

		86,986		215,038
Creditors: Amounts Falling Due Within One Year	6	(70,835 )		(204,952 )

NET CURRENT ASSETS (LIABILITIES)			16,151		10,086

TOTAL ASSETS LESS CURRENT LIABILITIES			225,876		476,589

PROVISIONS FOR LIABILITIES
Deferred Taxation			(22,549 )		(97,285 )

NET ASSETS			203,327		379,304

CAPITAL AND RESERVES
Called up share capital	8		10,000		10,000
Profit and Loss Account			193,327		369,304

SHAREHOLDERS' FUNDS			203,327		379,304