REGISTERED NUMBER: 07890811 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SWM (INSULATIONS) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T A Jones

K A Robertson

K A Jones

J A C Pace

SECRETARY:

N Cooper

REGISTERED OFFICE:

Town Station

Hill Street

Lydney

Gloucestershire

GL15 5HL

REGISTERED NUMBER:

07890811 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

4th Floor

St James House

St James Square

Cheltenham

England

GL50 3PR

FIXED ASSETS

Property, plant and equipment

4

227,579

261,530

CURRENT ASSETS

Inventories

460,318

430,287

Debtors

5

221,786

257,239

Cash at bank and in hand

25,652

114,360

707,756

801,886

CREDITORS

Amounts falling due within one year

6

425,116

521,385

NET CURRENT ASSETS

282,640

280,501

TOTAL ASSETS LESS CURRENT LIABILITIES

510,219

542,031

CREDITORS

Amounts falling due after more than one year

7

(85,803

)

(112,543

)

PROVISIONS FOR LIABILITIES

(55,277

)

(65,383

)

NET ASSETS

369,139

364,105

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

369,039

364,005

SHAREHOLDERS' FUNDS

369,139

364,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2026 and were signed on its behalf by:

T A Jones - Director

1.	STATUTORY INFORMATION

SWM (Insulations) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 January 2025

16,358

69,790

30,828

433,920

550,896

Additions

-

10,355

599

53,000

63,954

Disposals

-

(3,882

)

(8,123

)

(33,361

)

(45,366

)

At 31 December 2025

16,358

76,263

23,304

453,559

569,484

Depreciation

At 1 January 2025

7,430

41,341

27,448

213,147

289,366

Charge for year

1,636

6,793

1,957

79,314

89,700

Eliminated on disposal

-

-

(8,123

)

(29,038

)

(37,161

)

At 31 December 2025

9,066

48,134

21,282

263,423

341,905

Net book value

At 31 December 2025

7,292

28,129

2,022

190,136

227,579

At 31 December 2024

8,928

28,449

3,380

220,773

261,530

Included in tangible fixed assets is £168,878 (2024: £171,291) relating to assets held under hire purchase agreements. The related obligations are included within creditors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

221,786

257,239

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,167

10,000

Hire purchase contracts (see note 8)

57,365

44,698

Trade creditors

301,534

385,387

Taxation and social security

39,129

52,929

Other creditors

22,921

28,371

425,116

521,385

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

4,167

Hire purchase contracts (see note 8)

85,803

108,376

85,803

112,543

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

57,365

44,698

Between one and five years

85,803

108,376

143,168

153,074

Non-cancellable

operating leases

2025

2024

£

£

Within one year

9,333

9,333

9.	RELATED PARTY DISCLOSURES