REGISTERED NUMBER: 00902557 (England and Wales)

W.P. Metals Limited

Financial Statements

for the Year Ended 30 April 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A W Weeds

P B Burns

R A Davies

P G Mclean

SECRETARY:

A W Weeds

REGISTERED OFFICE:

Westgate

Aldridge

Walsall

West Midlands

CV9 8DJ

REGISTERED NUMBER:

00902557 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

BANKERS:

National Westminster Bank Plc

30a Harbourne Road

Edgbaston

Birmingham

West Midlands

B15 3AA

FIXED ASSETS

Tangible assets

4

185,224

227,262

CURRENT ASSETS

Stocks

1,001,327

916,510

Debtors

5

3,691,556

4,201,745

Cash at bank

69,470

44,840

4,762,353

5,163,095

CREDITORS

Amounts falling due within one year

6

2,768,041

2,660,479

NET CURRENT ASSETS

1,994,312

2,502,616

TOTAL ASSETS LESS CURRENT LIABILITIES

2,179,536

2,729,878

CREDITORS

Amounts falling due after more than one year

7

(337,778

)

(1,028,950

)

PROVISIONS FOR LIABILITIES

10

(34,899

)

(43,307

)

NET ASSETS

1,806,859

1,657,621

CAPITAL AND RESERVES

Called up share capital

11

5,000

5,000

Retained earnings

1,801,859

1,652,621

SHAREHOLDERS' FUNDS

1,806,859

1,657,621

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2026 and were signed on its behalf by:

P B Burns - Director

1.	STATUTORY INFORMATION

W.P. Metals Limited 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future.

The directors have reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason, together with the continued support of the directors, wider group and strong associates, they are continuing to adopt the going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

- A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

- Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

- Depreciation and residual values. Management have reviewed the asset lives and associated residual values of all fixed asset classes and concluded that they are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

Turnover

Revenue is recognised upon despatch of goods.

Rental income is recognised monthly in advance.

Tangible fixed assets

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

Land and buildings freehold

- not provided (see below)

Plant and machinery

- 10% straight line

Fixtures, fittings & equipment

- 20% straight line

Motor vehicles

- 20% straight line

The directors have assessed the difference between the residual value and the original cost of the assets as being not material and have decided not to provide for any depreciation on the grounds that the aggregate depreciation to be provided over the life of the asset is not material.

Stocks

Stocks 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 Income Statement, 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 benefit pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Defined benefit

At the date of the management buyout, the company participated in a defined benefit pension scheme. Under the terms of the transaction, the group ceased to participate in the scheme and no longer has any rights or obligations in respect of it.

During the prior year the company participated in a defined benefit pension scheme which is administered by the immediate parent company. The scheme was closed to new members in April 2009 and future accrual of benefits ceased. The employers contributions are affected by a deficit in the scheme and the directors are unable to separately identify the company's share of the underlying liabilities as the scheme is exposed to actuarial risk associated with current and former employees of the group as a whole. Under those circumstances the contributions of the scheme are treated as if they were a defined contribution scheme and charged to the profit and loss as they accrue.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2025 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2025

1,240,857

Additions

53,138

At 30 April 2026

1,293,995

DEPRECIATION

At 1 May 2025

1,013,595

Charge for year

95,176

At 30 April 2026

1,108,771

NET BOOK VALUE

At 30 April 2026

185,224

At 30 April 2025

227,262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,235,571

1,375,242

Amounts owed by group undertakings

2,288,588

2,717,312

Other debtors

167,397

109,191

3,691,556

4,201,745

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

449,603

281,957

Trade creditors

1,472,104

1,343,403

Amounts owed to group undertakings

19,023

1,856

Taxation and social security

78,095

162,427

Other creditors

749,216

870,836

2,768,041

2,660,479

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

337,778

1,028,950

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

40,278

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

190,573

190,573

Between one and five years

402,553

593,126

593,126

783,699

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

787,381

1,310,907

Other creditors

716,601

528,812

1,503,982

1,839,719

Amounts are secured by a fixed and floating charge over the assets of the company.

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

34,899

43,307

Deferred

tax

£

Balance at 1 May 2025

43,307

Credit to Income Statement during year

(8,408

)

Balance at 30 April 2026

34,899

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

5,000

Ordinary

£1

5,000

5,000

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren Barlow (Senior Statutory Auditor)

for and on behalf of TC Group

13.	CONTINGENT LIABILITIES

The company has given cross guarantees to Close Brothers Limited and Close Invoice Finance Limited in respect of amounts outstanding with fellow group and connected companies. At the balance sheet date these amounted to £1,029,162 (2025: £492,885).

The company has given cross guarantees to SM Ursell, PM Doyle and The Eric Bertram Watts Will Trust in respect of loan notes outstanding with EBW Holdings Limited. At the balance sheet date these amounted to £1,159,215 (2025: £2,167,699).

14.	ULTIMATE CONTROLLING PARTY

As at the year end, the company is a wholly owned subsidiary of Watts Clift Holdings Limited, a company incorporated in England & Wales.

As a direct result of a management buyout and wider group reorganisation, the ultimate parent company is EBW Holdings Ltd, a company incorporated in England and Wales. P Burns holds the controlling interest in the issued share capital of the ultimate parent company.

Group financial statements are prepared by EBW Holdings Limited and copies may be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF4 3UZ.