Company No: 13650650 (England and Wales)

Contents

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

DIRECTORS	L Buckley
	A Forth

SECRETARY

M Buckley

REGISTERED OFFICE	Unit 3 Shepley Industrial Estate North
	Audenshaw
	M34 5DW
	United Kingdom

COMPANY NUMBER

13650650 (England and Wales)

ACCOUNTANT	S&W Partners (Manchester) Limited
	Pall Mall
	1 Pollen Square
	59 King Street
	Manchester
	M2 4PD

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	111,502		127,503
		111,502		127,503
Current assets
Stocks	4	1,801,985		1,776,456
Debtors	5	1,676,112		1,501,498
Cash at bank and in hand		551,256		783,971
		4,029,353		4,061,925
Creditors: amounts falling due within one year	6	( 3,044,901)		( 3,638,845)
Net current assets		984,452		423,080
Total assets less current liabilities		1,095,954		550,583
Provision for liabilities	7	( 27,876)		( 31,876)
Net assets		1,068,078		518,707
Capital and reserves
Called-up share capital	8	2,000		1,800
Profit and loss account		1,066,078		516,907
Total shareholders' funds		1,068,078		518,707

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 members have 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 Special Metric Materials Ltd (registered number: 13650650) were approved and authorised for issue by the Board of Directors on 17 September 2026. They were signed on its behalf by:

L Buckley 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

Special Metric Materials Ltd (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 Unit 3 Shepley Industrial Estate North, Audenshaw, M34 5DW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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:

Plant and machinery	4 years straight line
Vehicles	4 years straight line
Office equipment	4 years straight line
Computer equipment	3 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 valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	19		12

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	58,709		40,000		78,984		7,209		184,902
Additions	16,851		11,950		10,831		1,060		40,692
At 31 December 2025	75,560		51,950		89,815		8,269		225,594
Accumulated depreciation
At 01 January 2025	16,110		10,000		27,033		4,256		57,399
Charge for the financial year	18,889		12,988		22,453		2,363		56,693
At 31 December 2025	34,999		22,988		49,486		6,619		114,092
Net book value
At 31 December 2025	40,561		28,962		40,329		1,650		111,502
At 31 December 2024	42,599		30,000		51,951		2,953		127,503

4. Stocks

	2025		2024
	£		£
Stocks	1,801,985		1,776,456

5. Debtors

	2025		2024
	£		£
Trade debtors	1,643,098		1,503,514
Other debtors	33,014		( 2,016)
	1,676,112		1,501,498

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	2,542,836		3,189,076
Taxation and social security	224,255		157,027
Other creditors	277,810		292,742
	3,044,901		3,638,845

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 31,876)		( 5,461)
Credited/(charged) to the Profit and Loss Account	4,000		( 26,415)
At the end of financial year	( 27,876)		( 31,876)

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,600 A Ordinary shares of £ 1.00 each	1,600		1,600
200 B Ordinary shares of £ 1.00 each	200		200
200 C Ordinary shares of £ 1.00 each (2024: nil shares)	200		0
	2,000		1,800

During the year 200 C Ordinary shares of £1 each per issued at par.

9. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	1,577,317		50,843

The commitment for 2025 relates to a ten year operating lease which commenced in June 2025.

10. Related party transactions

At the year-end the company owed £1,596,915 (2024 - £2,110,446) to companies under common control.