Vale Workshop Supplies Ltd

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

1. General Information

Vale Workshop Supplies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11488934 . The registered office is Orchard End, Badsey Fields Lane, Badsey, Evesham, WR11 7EX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

At each reporting period end date, the company reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.4. Tangible Fixed Assets and Depreciation

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

Motor Vehicles	33.33% on reducing balance
Fixtures & Fittings	10% on reducing balance
Computer Equipment	33.33% on cost

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.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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Vale Workshop Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. 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.

2.6. Stocks and Work in Progress

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks and work in progress to their present location and condition.

Stocks and work in progress held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories 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.

2.7. Financial Instruments

Financial instruments are recognised in the company's statement of financial position 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 trade and other receivables 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 trade and other payables, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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Vale Workshop Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 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 profit and loss account 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. 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 current liabilities.

2.10. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.11. Provisions

Provisions are recognised when the company has a legal or constructive present obligation 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 reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2025	113,417

As at 31 December 2025	113,417

Amortisation
As at 1 January 2025	71,832
Provided during the period	11,342

As at 31 December 2025	83,174

...CONTINUED

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Vale Workshop Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	30,243

As at 1 January 2025	41,585

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	42,441	525	1,524	44,490
Additions	-	-	207	207
Disposals	-	(175 )	(499 )	(674 )

As at 31 December 2025	42,441	350	1,232	44,023

Depreciation
As at 1 January 2025	35,815	94	1,047	36,956
Provided during the period	2,209	43	339	2,591
Disposals	-	(54 )	(464 )	(518 )

As at 31 December 2025	38,024	83	922	39,029

Net Book Value
As at 31 December 2025	4,417	267	310	4,994

As at 1 January 2025	6,626	431	477	7,534

Included in the above are fixed assets held under hire purchase contracts with a carrying value of £Nil (2024: £2,138). The depreciation charge for the year in respect of the leased assets totalled £Nil (2024: £1,069).

Assets held under hire purchase contracts in the prior year were pledged as security against the liabilities to which they related.

6. Stocks

	2025	2024
	£	£
Finished goods	42,655	50,937

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	31,235	34,931
Amounts owed by participating interests	7,012	-
Other debtors	1,710	-

	39,957	34,931

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Vale Workshop Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	7,757
Trade creditors	9,366	10,028
Bank loans and overdrafts	227	4,272
Other creditors	3,658	4,622
Taxation and social security	16,749	12,315

	30,000	38,994

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

	2025	2024
	£	£
Other creditors	49,913	40,493

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	7,757

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

12. Directors Advances, Credits and Guarantees

Dividends totalling £35,000 (2024: £17,500) were paid in the year in respect of shares held by the company's directors.

13. Related Party Transactions

Amounts owed to Directors, included within creditors due in more than one year, amounted to £49,913 (2024: £40,493).

Interest charged on the above loans at 4% amounted to £2,612 (2024: £2,465).

Amounts owed by participating interests, included within other debtors, amounted to £7,012 (2024: £Nil).

This balance is interest free.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		30,243		41,585
Tangible Assets	5		4,994		7,534

			35,237		49,119
CURRENT ASSETS
Stocks	6	42,655		50,937
Debtors	7	39,957		34,931
Cash at bank and in hand		20,118		15,798

		102,730		101,666
Creditors: Amounts Falling Due Within One Year	8	(30,000 )		(38,994 )

NET CURRENT ASSETS (LIABILITIES)			72,730		62,672

TOTAL ASSETS LESS CURRENT LIABILITIES			107,967		111,791

Creditors: Amounts Falling Due After More Than One Year	9		(49,913 )		(40,493 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(348 )		(793 )

NET ASSETS			57,706		70,505

CAPITAL AND RESERVES
Called up share capital	11		2		2
Profit and Loss Account			57,704		70,503

SHAREHOLDERS' FUNDS			57,706		70,505