| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| FOR |
| CASTOLIN EUTECTIC LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| FOR |
| CASTOLIN EUTECTIC LIMITED |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CASTOLIN EUTECTIC LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditors |
| Grove House |
| Coombs Wood Court |
| Steel Park Road |
| Halesowen |
| West Midlands |
| B62 8BF |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| BALANCE SHEET |
| 31ST DECEMBER 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PENSION ASSET | 12 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium | 10 |
| Retained earnings | 10 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| 1. | STATUTORY INFORMATION |
| Castolin Eutectic Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The 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 Company ceased trading on 30 June 2025 and the director does not intend for the Company to recommence trading. Accordingly, the director considers that it is not appropriate to prepare the financial statements on the going concern basis. |
| The financial statements have therefore been prepared on a basis other than going concern. In preparing the financial statements on this basis, the director has considered the recoverability of the Company's assets and the completeness and measurement of its liabilities in light of the cessation of trading and the continuing wind-down of its affairs. |
| The Company continues to settle its remaining assets and liabilities, including matters relating to its defined benefit pension scheme and former trading premises. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| 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. |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors, including, but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan. |
| The asset recognised in the Balance Sheet in respect of the defined benefit plan is the adjusted fair value of plan assets at the reporting date less the present value of the defined benefit obligation. |
| The fair value of plan assets is measured in accordance with the FRS102 fair value hierarchy. This includes the use of appropriate valuation techniques. |
| The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments (discount rate). |
| Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. |
| The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in the profit and loss as Interest on pension scheme assets/liabilities. |
| Defined contribution pension plan |
| The company also operates a defined contribution pension scheme and the pension charges represent the amount payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1st January 2025 |
| Disposals | ( |
) |
| At 31st December 2025 |
| AMORTISATION |
| At 1st January 2025 |
| Eliminated on disposal | ( |
) |
| At 31st December 2025 |
| NET BOOK VALUE |
| At 31st December 2025 |
| At 31st December 2024 |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st January 2025 |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31st December 2025 |
| DEPRECIATION |
| At 1st January 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31st December 2025 |
| NET BOOK VALUE |
| At 31st December 2025 |
| At 31st December 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Amounts owed to group undertakings |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| 10. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1st January 2025 | ( |
) | (3,441,399 | ) |
| Deficit for the year | ( |
) | ( |
) |
| Actuarial gain/loss | (460,000 | ) | - | (460,000 | ) |
| At 31st December 2025 | ( |
) | (4,860,118 | ) |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | EMPLOYEE BENEFIT OBLIGATIONS |
| The company operates the Castolin Eutectic Pension Scheme, a funded defined benefit scheme. The scheme is closed to new entrants and there are no active members.Contributions to the Scheme are determined having regard to actuarial advice and the funding requirements of the Scheme. |
| The most recent comprehensive actuarial valuation was carried out as at 31 December 2023. The defined benefit obligation has been updated to 31 December 2025 by a qualified independent actuary using the projected unit credit method and updated market assumptions. |
| During 2025 the trustees entered into a bulk annuity policy with Utmost Life and Pensions Limited. At 31 December 2025 the policy remained an asset of the pension scheme. |
| The amounts recognised in profit or loss are as follows: |
| Defined benefit |
| pension plans |
| 2025 | 2024 |
| £ | £ |
| Current service cost |
| Net interest from net defined benefit asset/liability |
(42,000 |
) |
(35,540 |
) |
| Past service cost |
| Administration costs | 309,000 | 212,000 |
| 536,000 | 478,460 |
| Actual return on plan assets | ( |
) |
| Changes in the present value of the defined benefit obligation are as follows: |
| Defined benefit |
| pension plans |
| 2025 | 2024 |
| £ | £ |
| Opening defined benefit obligation |
| Past service cost |
| Interest cost |
| Actuarial losses/(gains) | ( |
) |
| Benefits paid | ( |
) | ( |
) |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| 12. | EMPLOYEE BENEFIT OBLIGATIONS - continued |
| Changes in the fair value of scheme assets are as follows: |
| Defined benefit |
| pension plans |
| 2025 | 2024 |
| £ | £ |
| Opening fair value of scheme assets |
| Contributions by employer |
| Interest income / cost | 295,000 | 291,000 |
| Benefits paid | (518,000 | ) | (678,000 | ) |
| Administration costs | (309,000 | ) | (212,000 | ) |
| Remeasurements: |
| Return on plan assets (excluding interest income) |
(32,000 |
) |
(331,000 |
) |
| Bulk annuity buy-in loss | (761,000 | ) | - |
| The amounts recognised in other comprehensive income are as follows: |
| Defined benefit |
| pension plans |
| 2025 | 2024 |
| £ | £ |
| Return on plan assets (excluding interest income) |
(32,000 |
) |
(331,000 |
) |
| Bulk annuity buy-in loss | (761,000 | ) | - |
| Actuarial loss on DBO | ( |
) |
| Gain from movement In Asset ceiling | 467,000 | 705,879 |
| (460,000 | ) | 482,879 |
| The major categories of scheme assets as amounts of total scheme assets are as follows: |
| Defined benefit |
| pension plans |
| 2025 | 2024 |
| £ | £ |
| Cash & other asset investments |
| Bond/income funds |
| Equity funds |
| Bulk annuity policy | 4,448,000 | - |
| 5,009,000 | 6,284,000 |
| 2025 | 2024 |
| £ | £ |
| Fair value plan assets | 5,009,000 | 6,284,000 |
| Present value of defined benefit obligation | (4,867,000 | ) | (4,751,000 | ) |
| Asset ceiling | - | (445,291 | ) |
| Net pension scheme asset | 142,000 | 1,087,709 |
| Principal actuarial assumptions at the balance sheet date (expressed as weighted averages): |
| 2025 | 2024 |
| Discount rate |
| Future pension increases |
| CPI inflation | 1.95% | 2.60% |
| CASTOLIN EUTECTIC LIMITED (REGISTERED NUMBER: 00450581) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2025 |
| 13. | RELATED PARTY DISCLOSURES |
| 2025 | 2024 |
| £ | £ |
| Amounts due to holding company | 2,635,735 | 2,325,241 |
| These transactions have not been concluded under normal market conditions. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company is a wholly owned subsidiary of Castolin Eutectic GmBH a company registered in Germany. |
| The company's ultimate parent undertaking and controlling party is Paragon Partners GmBH, a company incorporated in Germany. Copies of the group financial statements may be obtained from its registered office: Leopoldstrasse 10, D 80802, Munich, Germany. |