REGISTERED NUMBER: 02710581 (England and Wales)

Financial Statements

for the Year Ended 28 February 2025

for

Wrekin Shell Mouldings Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M J Ellis

J N Ellis

K D Motherwell

SECRETARY:

D B Oakes

REGISTERED OFFICE:

Units D1 & D2

Halesfield 21

Telford

Shropshire

TF7 4NX

REGISTERED NUMBER:

02710581 (England and Wales)

AUDITORS:

WR Partners

Chartered Accountants and Statutory Auditor

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

BANKERS:

HSBC Bank Plc

16 Sherwood Square

The Telford Shopping Centre

Telford

TF3 4AN

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

7,000,783

7,193,044

Investments

6

3,028,456

3,024,858

10,029,239

10,217,902

CURRENT ASSETS

Inventories

609,403

540,760

Debtors

7

1,178,245

1,181,576

Cash at bank and in hand

70,285

12,670

1,857,933

1,735,006

CREDITORS

Amounts falling due within one year

8

1,028,096

866,765

NET CURRENT ASSETS

829,837

868,241

TOTAL ASSETS LESS CURRENT LIABILITIES

10,859,076

11,086,143

CREDITORS

Amounts falling due after more than one year

9

(619,408

)

(790,646

)

PROVISIONS FOR LIABILITIES

12

(449,685

)

(483,232

)

NET ASSETS

9,789,983

9,812,265

CAPITAL AND RESERVES

Called up share capital

40

40

Retained earnings

9,789,943

9,812,225

SHAREHOLDERS' FUNDS

9,789,983

9,812,265

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 24 November 2025 and were signed on its behalf by:

J N Ellis - Director

1.	STATUTORY INFORMATION

Wrekin Shell Mouldings 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 as modified by the revaluation of certain assets.

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Financial assets are derecognised when (a) a contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets

BPS entitlements are written off in equal annual instalments over their estimated useful economic life of 3 years.

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

-

2% on cost and 5% on cost

Plant and machinery etc

-

33% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

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 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 26 (2024 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

BPS

Goodwill

entitlements

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

187,999

37,824

225,823

AMORTISATION

At 1 March 2024

and 28 February 2025

187,999

37,824

225,823

NET BOOK VALUE

At 28 February 2025

-

-

-

At 29 February 2024

-

-

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 March 2024

5,698,474

4,216,176

107,063

45,482

10,067,195

Additions

-

196,111

-

-

196,111

Disposals

-

(713,638

)

(12,307

)

-

(725,945

)

At 28 February 2025

5,698,474

3,698,649

94,756

45,482

9,537,361

DEPRECIATION

At 1 March 2024

371,587

2,378,081

81,934

42,549

2,874,151

Charge for year

26,020

317,658

10,642

1,302

355,622

Eliminated on disposal

-

(680,888

)

(12,307

)

-

(693,195

)

At 28 February 2025

397,607

2,014,851

80,269

43,851

2,536,578

NET BOOK VALUE

At 28 February 2025

5,300,867

1,683,798

14,487

1,631

7,000,783

At 29 February 2024

5,326,887

1,838,095

25,129

2,933

7,193,044

6.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 March 2024

2,917,766

107,092

3,024,858

Additions

-

3,600

3,600

Disposals

(2

)

-

(2

)

At 28 February 2025

2,917,764

110,692

3,028,456

NET BOOK VALUE

At 28 February 2025

2,917,764

110,692

3,028,456

At 29 February 2024

2,917,766

107,092

3,024,858

Cost or valuation at 28 February 2025 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2025

-

110,692

110,692

Cost

2,917,764

-

2,917,764

2,917,764

110,692

3,028,456

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Dynafluid Limited

Registered office: England and Wales

Nature of business: Manufacturing of valves

%

Class of shares:

holding

Ordinary

97.50

2025

2024

£

£

Aggregate capital and reserves

1,688,139

1,734,446

Profit for the year

102,878

465,497

The Cubra Casting Company Limited

Registered office: England and Wales

Nature of business: Manufacturing of valves

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

815,587

849,577

Loss for the year

(33,990

)

(104,438

)

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

377,998

253,674

Other debtors

800,247

927,902

1,178,245

1,181,576

The company has an invoice discounting agreement. The trade debtors shown above are covered by this agreement.

Included in other debtors above is the amount of £593,627 (2024 - £796,762) relating to the invoice discounting agreement.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 10)

215,205

167,956

Trade creditors

525,312

288,108

Amounts owed to group undertakings

65,712

126,322

Taxation and social security

28,485

53,604

Other creditors

193,382

230,775

1,028,096

866,765

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 10)

262,959

325,392

Other creditors

356,449

465,254

619,408

790,646

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

215,205

167,956

Between one and five years

262,959

325,392

478,164

493,348

Non-cancellable

operating leases

2025

2024

£

£

Within one year

6,156

6,156

Between one and five years

3,078

8,721

9,234

14,877

11.	SECURED DEBTS

Any overdraft facility is secured by fixed and floating charges over the company's assets.

12.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

449,685

374,907

Deferred tax

-

108,325

449,685

483,232

Deferred

tax

£

Balance at 1 March 2024

483,232

Credit to Income Statement during year

(33,547

)

Balance at 28 February 2025

449,685

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

The Report of the Auditors was unqualified.

Helen Pierce (Senior Statutory Auditor)

for and on behalf of WR Partners

14.	OTHER FINANCIAL COMMITMENTS

Wrekin Shell Mouldings Limited has entered into the following lease agreement for it's offices and factory for the period 17 August 2021 to 16th August 2026.

Financial commitment

£

Due with one year

18,750

Due within more than one year

9,375

15.	RELATED PARTY DISCLOSURES

The company occupies premises owned by Mr and Mrs J N Ellis. Mr J N Ellis is a director of the company. The total rent paid to Mr and Mrs J N Ellis during the year was £14,250 (2024: £14,250) and at the balance sheet date no amount was outstanding (2024: £Nil).

Included in creditors due within one year and after one year is a loan balance due to Mrs L Ellis, the wife of Mr J N Ellis, a director of the company, of £363,574 (2024: £472,379). The loan is repayable on demand. No interest was paid on the loan balance in the year.

Also included in creditors due within one year are amounts totalling £78,197 (2024: £166,524) due to the directors of the company. These balances are repayable on demand. No interest has been charged on these balances during the year.

Included in amounts owed to group undertakings is an interest free loan of £189,132 (2024: £307,749) due to Dynafluid Limited, a subsidiary company.

Included in amounts owed to group undertakings is an interest free loan of £48,469 (2024: £48,469) due to The Cubra Casting Company Limited, a subsidiary company.

During the year the company received dividends of £145,457 (2024: £145,457) from Dynafluid Limited and £Nil (2024: £325,000) from The Cubra Casting Company Limited, it's subsidiary companies.

16.	CONTROLLING PARTY

The controlling party was J N Ellis and Mrs L Ellis, by virtue of having ownership of 87.5% between them of the issued share capital of the company, up until 24 October 2024. From that date 100% of the share capital was then owned by M J Ellis.