STEELWORX LTD

Company Registration Number:
NI624872 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

STEELWORX LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

STEELWORX LTD

Balance sheet

As at 31 December 2023


Notes

2023

14 months to 31 December 2022


£

£
Fixed assets
Tangible assets: 3 71,064 91,745
Total fixed assets: 71,064 91,745
Current assets
Stocks: 182,345 152,520
Debtors:   734,086 796,956
Cash at bank and in hand: 943,085 566,897
Total current assets: 1,859,516 1,516,373
Creditors: amounts falling due within one year:   (841,161) (830,384)
Net current assets (liabilities): 1,018,355 685,989
Total assets less current liabilities: 1,089,419 777,734
Creditors: amounts falling due after more than one year:   (38,242) (51,573)
Provision for liabilities: (22,121) (25,838)
Total net assets (liabilities): 1,029,056 700,323
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 1,029,055 700,322
Shareholders funds: 1,029,056 700,323

The notes form part of these financial statements

STEELWORX LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 September 2024
and signed on behalf of the board by:

Name: Conor Ward
Status: Director

The notes form part of these financial statements

STEELWORX LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets and depreciation policy

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Building renovations: 5% straight line; Office equipment 20% straight line; Plant and machinery 25% straight line

STEELWORX LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 14 months to 31 December 2022
Average number of employees during the period 18 17

STEELWORX LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 276,264
At 31 December 2023 276,264
Depreciation
At 01 January 2023 184,519
Charge for year 20,681
At 31 December 2023 205,200
Net book value
At 31 December 2023 71,064
At 31 December 2022 91,745

STEELWORX LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Financial commitments

The company has financial commitments on a loan taken out in previous accounting periods. The loan is repayable over a five year period. The balance outstanding at the end of the current accounting period is £57,885.