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REGISTERED NUMBER: 03228231 (England and Wales)












Financial Statements

for the Year Ended 31 December 2024

for

NST Welding (UK) Limited

NST Welding (UK) Limited (Registered number: 03228231)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NST Welding (UK) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: D R Gangso





REGISTERED OFFICE: Dedicated Transport Solutions Nelson Way
Nelson Park West
Cramlington
Northumberland
NE23 1WG





REGISTERED NUMBER: 03228231 (England and Wales)





AUDITORS: O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

NST Welding (UK) Limited (Registered number: 03228231)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,348 433

CURRENT ASSETS
Stocks 276,394 244,187
Debtors 5 235,592 274,530
Cash at bank and in hand 220,992 329,506
732,978 848,223
CREDITORS
Amounts falling due within one year 6 309,805 426,372
NET CURRENT ASSETS 423,173 421,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,521

422,284

CAPITAL AND RESERVES
Called up share capital 7 25,000 25,000
Retained earnings 411,521 397,284
SHAREHOLDERS' FUNDS 436,521 422,284

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 director and authorised for issue on 20 March 2025 and were signed by:





D R Gangso - Director


NST Welding (UK) Limited (Registered number: 03228231)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

NST Welding (UK) 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.

Going concern
The director continues to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the director considers it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods, excluding value added tax and trade discounts. Turnover is recognised at the point goods are dispatched.

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.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

Inventories
Stock is valued at cost, which is represented by the average purchase price and delivery costs.

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.

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.

NST Welding (UK) Limited (Registered number: 03228231)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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

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

Impairment of fixed assets

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2024 - 33,851 33,851
Additions 11,500 2,025 13,525
At 31 December 2024 11,500 35,876 47,376
DEPRECIATION
At 1 January 2024 - 33,418 33,418
Charge for year 188 422 610
At 31 December 2024 188 33,840 34,028
NET BOOK VALUE
At 31 December 2024 11,312 2,036 13,348
At 31 December 2023 - 433 433

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 230,623 266,568
Other debtors 4,969 7,962
235,592 274,530

NST Welding (UK) Limited (Registered number: 03228231)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,447 4,214
Taxation and social security 100,919 110,229
Other creditors 204,439 311,929
309,805 426,372

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 Ordinary £1 25,000 25,000

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

The Report of the Auditors was unqualified.

John O'Hara CA (Senior Statutory Auditor)
for and on behalf of O'Haras Accountants Limited (Statutory Auditor)

9. RELATED PARTY DISCLOSURES

Norsk Sveiseteknikk AS is the parent company with its registered office being Industriveien 28, 3300 Hokksund, Norway.

At the 31 December 2024 there was £192,213 due to Norsk Sveiseteknikk AS (2023:£300,591).

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.