BrightAccountsProduction v1.0.0 v1.0.0 2024-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the manufacturing and erection of structural steel.
The directors recognise the increase in activity and profitability during the year and are satisfied that the company will continue to trade as a going concern for the foreseeable future. 3 June 2025 08962220 2024-12-31 08962220 2023-12-31 08962220 2022-12-31 08962220 2024-01-01 2024-12-31 08962220 2023-01-01 2023-12-31 08962220 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08962220 uk-curr:Euro 2024-01-01 2024-12-31 08962220 uk-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08962220 uk-bus:FullAccounts 2024-01-01 2024-12-31 08962220 uk-bus:Director1 2024-01-01 2024-12-31 08962220 uk-bus:RegisteredOffice 2024-01-01 2024-12-31 08962220 uk-bus:Agent1 2024-01-01 2024-12-31 08962220 uk-bus:Audited 2024-01-01 2024-12-31 08962220 uk-core:ShareCapital 2024-12-31 08962220 uk-core:ShareCapital 2023-12-31 08962220 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 08962220 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 08962220 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 08962220 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 08962220 uk-bus:FRS102 2024-01-01 2024-12-31 08962220 uk-core:CurrentFinancialInstruments 2024-12-31 08962220 uk-core:CurrentFinancialInstruments 2023-12-31 08962220 uk-core:WithinOneYear 2024-12-31 08962220 uk-core:WithinOneYear 2023-12-31 08962220 uk-core:ParentEntities 2024-01-01 2024-12-31 08962220 2024-01-01 2024-12-31 xbrli:pure iso4217:EUR iso4217:GBP xbrli:shares

Company Registration Number: 08962220

Wall Steel U.K. Limited

Financial Statements

for the financial year ended 31 December 2024

Wall Steel U.K. Limited

DIRECTOR AND OTHER INFORMATION

Director | Eamonn Wall
Company Registration Number | 08962220
Registered Office and Business Address | 2 Frederick Street,
| Kings Cross,
| London
| WC1X 0ND
| United Kingdom
Independent Auditors | MK Brazil
| Chartered Accountants and Statutory Audit Firm
| Unit 1A,
| Cleaboy Business Park,
| Waterford
Bankers | Bank of Ireland,
| PO Box 2386,
| Dublin 1.
| Money Corporation,
| Zig Zag Building,
| Floor 5 70 Victoria Street,
| London,
| SW1E 6SQ,
| United Kingdom.

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Wall Steel U.K. Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Wall Steel U.K. Limited ('the company') for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities).

In our opinion the financial statements: -give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the financial year then ended; -have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and -have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we has performed, we has not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept; or
- | the financial statements are not in agreement with the accounting records and returns; or
- | certain disclosures of director's remuneration specified by law are not made; or
- | we have not received all the information and explanations we require for our audit; or
- | the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the director's report.

Responsibilities of director for the financial statements

The director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- The primary audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (IFRS,FRS101, the Companies Act 2006 and UK Corporate Governance Code), the relevant tax compliance regulations in the jurisdictions in which the company operates and the EU General Data Protection Regulation (GDPR) - We understood how the company is complying with those framworks by making enquiries of management. We corroborated our papers provided to the Audit and Risk Committee and attendance at meetings of the Audit and Risk Committee, as well as consideration of the results of our audit procedures in the company. - We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur by meeting with management from various parts of the business to understand where it considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence on efforts made by management to manage revenue and earnings. We considered the programmes and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud, and how senior management monitors those programmes and controls.

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Maurice Kirwan FCA, (Senior Statutory Auditor)

for and on behalf of

MK BRAZIL

Chartered Accountants and Statutory Audit Firm

Unit 1A,

Cleaboy Business Park,

Waterford

3 June 2025

Wall Steel U.K. Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- | Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

- | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Wall Steel U.K. Limited

Company Registration Number: 08962220

BALANCE SHEET

as at 31 December 2024

|  |  | 2024 |  | 2023
|  | Notes | € |  | €
Current Assets

Stocks |  | 4 | 1,088,058 |  | 1,216,324
Debtors |  | 5 | 5,424 |  | 156,592
Cash and cash equivalents |  |  | 1,503,599 |  | 1,706,633
|  |  | ───────── |  | ─────────
|  |  | 2,597,081 |  | 3,079,549
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 6 | (1,218,062) |  | (1,742,751)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 1,379,019 |  | 1,336,798
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 1,379,019 |  | 1,336,798
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 130 |  | 130
Retained earnings |  |  | 1,378,889 |  | 1,336,668
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 1,379,019 |  | 1,336,798
|  |  | ═════════ |  | ═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.

Approved by the Director and authorised for issue on 3 June 2025

Eamonn Wall |  |  |  |  |
Director |  |  |  |  |

Wall Steel U.K. Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

1. | General Information
| Wall Steel U.K. Limited is a company limited by shares incorporated in the United Kingdom. 2 Frederick Street, Kings Cross, London, WC1X 0ND, United Kingdom is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Euro (€) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. Turnover is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods.
| Share Capital
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
| Dividend distribution
| Dividend distribution to the company’s shareholders is recognised as a liability in the Company’s financial statements in the period in which the dividends are paid.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. WIP is valued at the lower of cost and net realisable value. Cost is defined as the aggregate cost of raw material, direct labour and attributable proportion of direct production overheads based on a normal level of activity. Net realisable value comprises of actual or estimated selling price less all further costs to completion.
| Trade and other debtors
| Trade and other debtors including amounts owed to group companies are recognised initially at transaction price (including transaction costs) unless a financing arrangement exists in which case they are measured at the present value of future receipts discounted at a market rate. Subsequently these are measured at amortised cost less any provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. All movements in the level of the provision required are recognised in the profit and loss.
| Cash and cash equivalents
| Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Related parties
| For the purposes of these financial statements a party is considered to be related to the company if:
| - | the party has the ability, directly or indirectly, through one or more intermediaries to control the company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company;
| - | the company and the party are subject to common control;
| - | the party is an associate of the company or forms part of a joint venture with the company;
| - | the party is a member of key management personnel of the company or the company's parent, or a close family member of such as an individual, or is an entity under the control, joint control or significant influence of such individuals;
| - | the party is a close family member of a party referred to above or is an entity under the control or significant influence of such individuals; or
| - | the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.
| Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the company. The company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned.
| Taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occured at that date that will result in an obligation to pay more or a right to pay less taxation in the future except as follows: Deferred taxation assets are recognised only to the extent that it is considered more likely then not that there will be suitable taxation profits from which the future reversal of the underlying timing differences can be deducted. Current or deferred taxation assets and liabilities are not discounted.
| Government grants
| Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
| Foreign currencies
| The accounts are expressed in Euro (€). Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

3. | Employees
| The average monthly number of employees, including director, during the financial year was 3, (31 December 2023 - 3).
|  | 2024 | 2023
|  | Number | Number
| Directors | 1 | 1
| Employee | 2 | 2
|  | ───────── | ─────────
|  | 3 | 3
|  | ═════════ | ═════════

4. | Stocks | 2024 | 2023
|  | € | €
| Work in progress | 1,088,058 | 1,216,324
|  | ═════════ | ═════════

5. | Debtors | 2024 | 2023
|  | € | €
| Trade debtors | 3,727 | 145,199
| Taxation | 1,697 | 11,393
|  | ───────── | ─────────
|  | 5,424 | 156,592
|  | ═════════ | ═════════

6. | Creditors | 2024 | 2023
| Amounts falling due within one year | € | €
| Trade creditors | 12,289 | 72,035
| Amounts owed to group undertakings | 1,199,252 | 1,578,626
| Taxation | 6,521 | 92,090
|  | ───────── | ─────────
|  | 1,218,062 | 1,742,751
|  | ═════════ | ═════════

7. | Capital commitments
| There were no capital commitments at the year end.

8. | Related party transactions
| The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.

9. | Parent company
| The company regards Wall Steel Limited as its parent company.
| The parent of the largest group in which the results are consolidated is Wall Steel Limited.

10. | Post-Balance Sheet Events
| There were no significant events between the Balance Sheet date and the date of signing of the financial statements, affecting the company, which require adjustment to or disclosure in the financial statements.