REGISTERED NUMBER: 01738123 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

KELGRAY PRODUCTS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Smith

A R Smith

D J Smith

D W Smith

REGISTERED OFFICE:

Kelgray House

Spindle Way

Crawley

West Sussex

RH10 1TH

REGISTERED NUMBER:

01738123 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Horsham) Limited

Ridgeland House

15 Carfax

Horsham

West Sussex

RH12 1ER

FIXED ASSETS

Tangible assets

4

456,865

501,027

Investments

5

201

201

457,066

501,228

CURRENT ASSETS

Stocks

248,642

359,575

Debtors

6

1,219,973

1,256,829

Cash at bank and in hand

259,633

263,659

1,728,248

1,880,063

CREDITORS

Amounts falling due within one year

7

902,945

1,088,350

NET CURRENT ASSETS

825,303

791,713

TOTAL ASSETS LESS CURRENT LIABILITIES

1,282,369

1,292,941

PROVISIONS FOR LIABILITIES

113,245

94,410

NET ASSETS

1,169,124

1,198,531

CAPITAL AND RESERVES

Called up share capital

5,050

5,050

Share premium

718

718

Capital redemption reserve

5,050

5,050

Retained earnings

1,158,306

1,187,713

1,169,124

1,198,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2026 and were signed on its behalf by:

T Smith - Director

1.	STATUTORY INFORMATION

Kelgray Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover 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 the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

3% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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

The average number of employees during the year was 24 (2025 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

67,268

612,209

56,682

98,934

835,093

Additions

-

4,975

-

5,010

9,985

Disposals

-

-

-

(3,645

)

(3,645

)

Reclassification/transfer

(67,268

)

67,268

-

-

-

At 31 March 2026

-

684,452

56,682

100,299

841,433

DEPRECIATION

At 1 April 2025

4,299

196,366

45,436

87,965

334,066

Charge for year

-

48,379

1,125

3,779

53,283

Eliminated on disposal

-

-

-

(2,781

)

(2,781

)

Reclassification/transfer

(4,299

)

4,299

-

-

-

At 31 March 2026

-

249,044

46,561

88,963

384,568

NET BOOK VALUE

At 31 March 2026

-

435,408

10,121

11,336

456,865

At 31 March 2025

62,969

415,843

11,246

10,969

501,027

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2025

and 31 March 2026

201

NET BOOK VALUE

At 31 March 2026

201

At 31 March 2025

201

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

756,043

809,401

Amounts owed by group undertakings

359,934

347,504

Other debtors

103,996

99,924

1,219,973

1,256,829

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

657,505

884,365

Amounts owed to group undertakings

241

241

Taxation and social security

110,565

51,903

Other creditors

134,634

151,841

902,945

1,088,350

8.	LEASING AGREEMENTS

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

2026

2025

£

£

Within one year

13,641

12,507

Between one and five years

22,537

14,722

36,178

27,229

9.	ULTIMATE CONTROLLING PARTY

The directors of Kelgray Holdings Limited are considered to be the ultimate controlling party, which is the parent company of Kelgray Products Ltd.