STEELWORX LTD

Company Registration Number:
NI624872 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

STEELWORX LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

STEELWORX LTD

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Tangible assets: 3 49,788 71,064
Total fixed assets: 49,788 71,064
Current assets
Stocks: 180,812 182,345
Debtors:   237,377 734,086
Cash at bank and in hand: 1,121,808 943,085
Total current assets: 1,539,997 1,859,516
Creditors: amounts falling due within one year:   (467,496) (841,161)
Net current assets (liabilities): 1,072,501 1,018,355
Total assets less current liabilities: 1,122,289 1,089,419
Creditors: amounts falling due after more than one year:   (18,404) (38,242)
Provision for liabilities: (13,587) (22,121)
Total net assets (liabilities): 1,090,298 1,029,056
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 1,090,297 1,029,055
Shareholders funds: 1,090,298 1,029,056

The notes form part of these financial statements

STEELWORX LTD

Balance sheet statements

For the year ending 31 December 2024 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 2025
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 2024

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 valuc of cach 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 2024

2. Employees

2024 2023
Average number of employees during the period 14 18

STEELWORX LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible Assets

Total
Cost £
At 01 January 2024 276,264
Additions 199
Disposals (151,500)
At 31 December 2024 124,963
Depreciation
At 01 January 2024 205,200
Charge for year 6,475
On disposals (136,500)
At 31 December 2024 75,175
Net book value
At 31 December 2024 49,788
At 31 December 2023 71,064

STEELWORX LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

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 £33,230.