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REGISTERED NUMBER: 06306501 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Service Metals (Ireland) Limited

Service Metals (Ireland) Limited (Registered number: 06306501)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Service Metals (Ireland) Limited (Registered number: 06306501)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes €    €   
CURRENT ASSETS
Debtors 4 5,281 8,818
Cash at bank 115 103,727
5,396 112,545
CREDITORS
Amounts falling due within one year 5 129,130 234,565
NET CURRENT LIABILITIES (123,734 ) (122,020 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(123,734

)

(122,020

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (123,834 ) (122,120 )
SHAREHOLDERS' FUNDS (123,734 ) (122,020 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





J M Winn - Director


Service Metals (Ireland) Limited (Registered number: 06306501)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Service Metals (Ireland) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06306501

Registered office: Howley Park Industrial Estate
Howley Park Road East
Morley
Leeds
West Yorkshire
LS27 0BN

The presentation currency of the financial statements is the Euro (€).


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.

Significant judgements and estimates
The company has not applied any significant judgements or estimates which could have a significant effect on the amounts recognised in its financial statements.

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 Euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euros at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction costs, including transaction costs, and are measured subsequently at amortised cost using the effective interest rate method, less any impairment.

Service Metals (Ireland) Limited (Registered number: 06306501)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Other debtors 5,281 8,818

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Bank loans and overdrafts - 232,599
Trade creditors - 16
Amounts owed to group undertakings 128,272 -
Other creditors 858 1,950
129,130 234,565

6. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
€    €   
Bank overdraft - 232,599

There is a cross guarantee in connection with the banking facilities of all related and group companies as follows:- Gablesea Limited, Gablesea Glassfibre Limited, Servemet (NW) Limited, Service Metals (Midlands) Limited, Service Metals (South) Limited, Service Metals (North) Limited, Service Metals (East Anglia) Limited, Service Metals Painting & Fabrications Limited, Switchblade Metals Limited, J B Components Limited, Service Metals (Ireland) Limited. The amount of overdraft guaranteed in respect of all related and group companies is £2,000,000. In addition the company also have a debenture on all assets of the company dated 2/01/2008.

7. ULTIMATE CONTROLLING PARTY

The company's parent undertaking which is exempt from drawing up consolidated financial statements is Service Metals (North) Limited, whose registered office and principal place of business is Howley Park Industrial Estate, Howley Park Road East, Morley, Leeds, West Yorkshire, England, LS27 0BN.