Abraservice UK Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01059839 (England and Wales)

ABRASERVICE UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M Forrest

Mr P Hallin

SECRETARY:

Mr M Forrest

REGISTERED OFFICE:

Arley Road

Saltley

Birmingham

B8 1QX

REGISTERED NUMBER:

01059839 (England and Wales)

AUDITORS:

Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

BANKERS:

Natwest

Wickersley Branch

Bawtry Road

Wickersley Branch

Rotherham

South Yorkshire

S661JY

FIXED ASSETS

Tangible assets

4

681,172

524,558

CURRENT ASSETS

Stocks

5

1,131,312

714,405

Debtors

6

805,415

803,377

Cash at bank

839,081

1,432,365

2,775,808

2,950,147

CREDITORS

Amounts falling due within one year

7

592,389

936,467

NET CURRENT ASSETS

2,183,419

2,013,680

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,864,591

2,538,238

PROVISIONS FOR LIABILITIES

168,069

157,568

NET ASSETS

2,696,522

2,380,670

CAPITAL AND RESERVES

Called up share capital

107,500

Capital redemption reserve

1,902,500

Retained earnings

686,522

370,670

SHAREHOLDERS' FUNDS

2,696,522

2,380,670

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 18 September 2025 and were signed on its behalf by:

Mr M Forrest - Director

1.	STATUTORY INFORMATION

Abraservice 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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer:

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold:

- the amount of revenue can be measured reliably:

- it is probable that the Company will received the consideration due under the transaction: and

- the cost incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Plant and machinery

-

20% on cost and 10 to 33% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost indicates expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to the selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

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.

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for is employees. A defined contribution plan is a plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a lability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Foreign currency transactions

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transaction.

At each period of end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of transaction and non-monetary items measured at fair value are measured using the exchange rate when the fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetry assets and liabilities denominated in foreign currencies are recognised in the Income Statement except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash equivalents are presented in the Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Income Statement within 'other operating income'.

Operating leases

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertable to known amounts of cash with insignificant risk of change in value.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

COST

At 1 January 2024

102,441

1,494,939

1,597,380

Additions

-

265,581

Disposals

-

(93,023

)

(93,023

)

At 31 December 2024

102,441

1,667,497

1,769,938

DEPRECIATION

At 1 January 2024

102,441

970,381

1,072,822

Charge for year

-

108,953

Eliminated on disposal

-

(93,009

)

(93,009

)

At 31 December 2024

102,441

986,325

1,088,766

NET BOOK VALUE

At 31 December 2024

-

681,172

At 31 December 2023

-

524,558

5.

STOCKS

2024

2023

£

Stocks

1,112,593

714,405

Work-in-progress

18,719

-

1,131,312

714,405

Stocks are stated after provisions for impairment of £51,982 (2023: £47,773) due to slow- moving and obsolete stock. There is no significant difference between the replacement cost of stock and its carrying amount.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

668,406

735,609

Other debtors

137,009

67,768

805,415

803,377

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

242,829

143,374

Amounts owed to participating interests

174,033

502,007

Taxation and social security

117,954

165,564

Other creditors

57,573

125,522

592,389

936,467

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

32,002

22,784

Between one and five years

26,829

18,034

58,831

40,818

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

The Report of the Auditors was unqualified.

Nigel Meredith (Senior Statutory Auditor)

for and on behalf of Folkes Worton LLP

10.	CAPITAL COMMITMENTS

2024

2023

£

Contracted but not provided for in the

financial statements

-

123,000

11.	RELATED PARTY DISCLOSURES

No disclosures have been made in these financial statements of any transactions with group companies accordance with the exemptions allowed under FRS102 section 33.1A.

12.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Abraservice Holding SAS, a company incorporated in France, which is a wholly owned subsidiary of SSAB AB, a company incorporated in Sweden.