Company registration number 01056142 (England and Wales)
S.W.S. (METAL TREATMENTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
S.W.S. (METAL TREATMENTS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
S.W.S. (METAL TREATMENTS) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
395,346
409,277
Current assets
Stocks
30,660
19,463
Debtors
5
187,102
197,935
Cash at bank and in hand
6,000
-
0
223,762
217,398
Creditors: amounts falling due within one year
6
(380,291)
(332,099)
Net current liabilities
(156,529)
(114,701)
Total assets less current liabilities
238,817
294,576
Creditors: amounts falling due after more than one year
7
(38,539)
(95,095)
Provisions for liabilities
(72,125)
(74,558)
Net assets
128,153
124,923
Capital and reserves
Called up share capital
8
1,000
1,000
Revaluation reserve
69,184
69,184
Profit and loss reserves
57,969
54,739
Total equity
128,153
124,923
S.W.S. (METAL TREATMENTS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 16 October 2025 and are signed on its behalf by:
Mrs D L Bennett
Director
Company registration number 01056142 (England and Wales)
S.W.S. (METAL TREATMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

S.W.S. (Metal Treatments) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Second Avenue, Trafford Park, Manchester, M17 1EE.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is dependant upon the ongoing financial support of its bankers.true

The directors have indicated that such support is expected to continue for the foreseeable future. The company continues to meet all borrowing commitments out of trading cashflows.

The directors consider that in preparing the financial statements that they have taken into account all the information that could reasonably be expected to be available.

On this basis, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

Turnover represents amounts receivable for goods and services provided net of VAT and trade discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
5% straight line
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance
Heavy duty plant and machinery
5% striaght line (25% residual value)
Project nickel line
5% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

S.W.S. (METAL TREATMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

S.W.S. (METAL TREATMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
18
18
S.W.S. (METAL TREATMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
Heavy duty plant and machinery
Project nickel line
Total
£
£
£
£
Cost or valuation
At 1 April 2024
682,538
145,000
302,582
1,130,120
Additions
22,902
-
0
-
0
22,902
At 31 March 2025
705,440
145,000
302,582
1,153,022
Depreciation and impairment
At 1 April 2024
527,197
43,510
150,136
720,843
Depreciation charged in the year
16,265
5,439
15,129
36,833
At 31 March 2025
543,462
48,949
165,265
757,676
Carrying amount
At 31 March 2025
161,978
96,051
137,317
395,346
At 31 March 2024
155,341
101,490
152,446
409,277

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
73,826
78,550

Heavy duty plant and machinery with a carrying amount of £145,000 were revalued at 1 April 2016 by The Churchill Machine Tool Co. Ltd, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar plant and machinery.

The plant and machinery has a remaining useful economic life of 20 years from the date of revaluation, with an estimated residual value of 25% of the market value at 1 April 2016.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Heavy duty plant and machinery
2025
2024
£
£
Cost
176,863
176,863
Accumulated depreciation
(176,863)
(176,863)
Carrying value
-
-
S.W.S. (METAL TREATMENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
140,417
182,260
Amounts owed by group undertakings
28,520
8,622
Other debtors
18,165
7,053
187,102
197,935
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
213,010
217,500
Trade creditors
81,618
43,152
Corporation tax
13,174
4,117
Other taxation and social security
49,906
26,587
Other creditors
22,583
40,743
380,291
332,099

Included within Other creditors are amounts due under hire purchase agreements of £11,268 (202 4: £18,680).

Net obligations under hire purchase agreements are secured by fixed charges over the assets concerned.

The company's bank loans are secured by fixed and floating charges over the assets of the company.

The company's bank loan in relation to the CBILS facility includes £12,500 (2024: £22,548) secured by the Bounce Back Loan Scheme managed by the British Business Bank.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
29,017
74,127
Other creditors
9,522
20,968
38,539
95,095

Included within Other creditors are amounts due under hire purchase agreements of £9,522 (202 4: £20,968).

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
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