Company No: 01161686 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	29,476		24,469
Tangible assets	4	3,613,158		3,014,215
		3,642,634		3,038,684
Current assets
Stocks		946,340		983,246
Debtors	5	442,843		354,029
Cash at bank and in hand		489,224		579,661
		1,878,407		1,916,936
Creditors: amounts falling due within one year	6	( 698,394)		( 561,732)
Net current assets		1,180,013		1,355,204
Total assets less current liabilities		4,822,647		4,393,888
Creditors: amounts falling due after more than one year	7	( 1,202,314)		( 1,233,056)
Provision for liabilities		( 174,458)		( 171,986)
Net assets		3,445,875		2,988,846
Capital and reserves
Called-up share capital	8	1,000		1,000
Revaluation reserve		52,796		54,023
Profit and loss account		3,392,079		2,933,823
Total shareholders' funds		3,445,875		2,988,846

For the financial year ending 30 April 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of W. Durston Limited (registered number: 01161686) were approved and authorised for issue by the Board of Directors on 03 July 2026. They were signed on its behalf by:

M Durston 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

W. Durston Limited (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 Park House Business Centre, Desborough Park Road, High Wycombe, Buckinghamshire, HP12 3DJ, 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.

The functional currency of W. Durston Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

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 Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and the rendering of services in the normal course of business, and is shown net of discounts and VAT.

Sale of goods
Revenue arises from the sale of rolling mills, forming products and consumable goods for the jewellery industry.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives which is a total of 20 years.

Other intangible assets

20 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings	2 % reducing balance
Plant and machinery etc.	10 % reducing balance
	4 years straight line

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and 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).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors 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.

Basic financial liabilities
Basic financial liabilities, including creditors, 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.

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.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		12

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 May 2025	25,757		25,757
Additions	6,522		6,522
At 30 April 2026	32,279		32,279
Accumulated amortisation
At 01 May 2025	1,288		1,288
Charge for the financial year	1,515		1,515
At 30 April 2026	2,803		2,803
Net book value
At 30 April 2026	29,476		29,476
At 30 April 2025	24,469		24,469

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 May 2025	2,255,779		2,331,471		4,587,250
Additions	669,637		63,039		732,676
At 30 April 2026	2,925,416		2,394,510		5,319,926
Accumulated depreciation
At 01 May 2025	139,582		1,433,453		1,573,035
Charge for the financial year	39,834		93,899		133,733
At 30 April 2026	179,416		1,527,352		1,706,768
Net book value
At 30 April 2026	2,746,000		867,158		3,613,158
At 30 April 2025	2,116,197		898,018		3,014,215

5. Debtors

	2026		2025
	£		£
Trade debtors	388,477		325,006
Other debtors	54,366		29,023
	442,843		354,029

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	35,138		42,900
Trade creditors	293,097		253,064
Amounts owed to Group undertakings	3,414		0
Taxation and social security	312,267		204,377
Other creditors	54,478		61,391
	698,394		561,732

Bank loans and overdrafts totalling £35,138 (2025 - £42,900) are secured by way of legal charges on the company's freehold property and by way of a floating charge of all property, assets and rights of the company present and future not subject to a fixed charge.

Included in other creditors are net obligations of £Nil (2025 - £11,682) which relate to finance leases and hire purchase contracts, they are secured against the assets to which they relate.

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	1,202,314		1,233,056

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Bank loans	1,030,964		1,117,510

Bank loans and overdrafts totalling £1,202,314 (2025 - £1,232,222) are secured by way of legal charges on the company's freehold property and by way of a floating charge of all property, assets and rights of the company present and future not subject to a fixed charge.

The directors have provided a personal guarantee amounting to £75,000 in respect of the bank loans and overdrafts.

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	54,365		73,165
Between one and five years	48,074		42,879
	102,439		116,044