IRIS Accounts Production v25.3.0.601 07421424 Board of Directors 31.10.23 30.10.24 30.10.24 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07421424 2023-10-30 07421424 2024-10-30 07421424 2023-10-31 2024-10-30 07421424 2022-10-30 07421424 2022-10-31 2023-10-30 07421424 2023-10-30 07421424 ns15:EnglandWales 2023-10-31 2024-10-30 07421424 ns14:PoundSterling 2023-10-31 2024-10-30 07421424 ns10:Director1 2023-10-31 2024-10-30 07421424 ns10:PrivateLimitedCompanyLtd 2023-10-31 2024-10-30 07421424 ns10:SmallEntities 2023-10-31 2024-10-30 07421424 ns10:AuditExemptWithAccountantsReport 2023-10-31 2024-10-30 07421424 ns10:SmallCompaniesRegimeForDirectorsReport 2023-10-31 2024-10-30 07421424 ns10:SmallCompaniesRegimeForAccounts 2023-10-31 2024-10-30 07421424 ns10:FullAccounts 2023-10-31 2024-10-30 07421424 1 2023-10-31 2024-10-30 07421424 ns10:Director2 2023-10-31 2024-10-30 07421424 ns10:Director3 2023-10-31 2024-10-30 07421424 ns10:RegisteredOffice 2023-10-31 2024-10-30 07421424 ns5:CurrentFinancialInstruments 2024-10-30 07421424 ns5:CurrentFinancialInstruments 2023-10-30 07421424 ns5:Non-currentFinancialInstruments 2024-10-30 07421424 ns5:Non-currentFinancialInstruments 2023-10-30 07421424 ns5:ShareCapital 2024-10-30 07421424 ns5:ShareCapital 2023-10-30 07421424 ns5:SharePremium 2024-10-30 07421424 ns5:SharePremium 2023-10-30 07421424 ns5:RetainedEarningsAccumulatedLosses 2024-10-30 07421424 ns5:RetainedEarningsAccumulatedLosses 2023-10-30 07421424 ns5:IntangibleAssetsOtherThanGoodwill 2023-10-31 2024-10-30 07421424 ns5:PatentsTrademarksLicencesConcessionsSimilar 2023-10-31 2024-10-30 07421424 ns5:PlantMachinery 2023-10-31 2024-10-30 07421424 ns5:FurnitureFittings 2023-10-31 2024-10-30 07421424 ns5:MotorVehicles 2023-10-31 2024-10-30 07421424 ns5:IntangibleAssetsOtherThanGoodwill 2023-10-30 07421424 ns5:IntangibleAssetsOtherThanGoodwill 2024-10-30 07421424 ns5:IntangibleAssetsOtherThanGoodwill 2023-10-30 07421424 ns5:LeaseholdImprovements 2023-10-30 07421424 ns5:PlantMachinery 2023-10-30 07421424 ns5:FurnitureFittings 2023-10-30 07421424 ns5:MotorVehicles 2023-10-30 07421424 ns5:LeaseholdImprovements 2023-10-31 2024-10-30 07421424 ns5:LeaseholdImprovements 2024-10-30 07421424 ns5:PlantMachinery 2024-10-30 07421424 ns5:FurnitureFittings 2024-10-30 07421424 ns5:MotorVehicles 2024-10-30 07421424 ns5:LeaseholdImprovements 2023-10-30 07421424 ns5:PlantMachinery 2023-10-30 07421424 ns5:FurnitureFittings 2023-10-30 07421424 ns5:MotorVehicles 2023-10-30 07421424 ns5:CostValuation 2023-10-30 07421424 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-10-30 07421424 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-10-30 07421424 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2024-10-30 07421424 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2023-10-30 07421424 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2024-10-30 07421424 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2023-10-30 07421424 ns5:DeferredTaxation 2023-10-30 07421424 ns5:DeferredTaxation 2023-10-31 2024-10-30 07421424 ns5:DeferredTaxation 2024-10-30

REGISTERED NUMBER: 07421424 (England and Wales)

STEELSEAL LTD

Unaudited Financial Statements for the Year Ended 30 October 2024

| STEELSEAL LTD (REGISTERED NUMBER: 07421424) |

Contents of the Financial Statements

for the year ended 30 October 2024

| Page |

| Company Information | 1 |

| Accountants' Report | 2 |

| Balance Sheet | 3 |  | to |  | 4

| Notes to the Financial Statements | 5 |  | to |  | 7

| STEELSEAL LTD |

Company Information

for the year ended 30 October 2024

| Directors: | A L Weaver

| P A Whittall

| S P Harrison

| Registered office: | Automotive Brands Building

| Old Concrete Works

| Bretforton Road

| Weston Subedge

| Worcestershire

| WR11 7QA

| Registered number: | 07421424 (England and Wales)

| Accountants: | Cooper Parry Advisory Limited

| CUBO Birmingham

| 4th Floor

| Two Chamberlain Square

| Birmingham

| West Midlands

| B3 3AX

Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

SteelSeal Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SteelSeal Ltd for the year ended 30 October 2024 which comprise the Statement of Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of SteelSeal Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SteelSeal Ltd and state those matters that we have agreed to state to the Board of Directors of SteelSeal Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SteelSeal Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SteelSeal Ltd. You consider that SteelSeal Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SteelSeal Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cooper Parry Advisory Limited

CUBO Birmingham

4th Floor

Two Chamberlain Square

Birmingham

West Midlands

B3 3AX

16 October 2025

| STEELSEAL LTD (REGISTERED NUMBER: 07421424) |

Balance Sheet

30 October 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 4 | 154,050 |  | 163,923 |  |

Tangible assets | 5 | 1,117,076 |  | 1,130,892 |  |

Investments | 6 | 450,000 |  | 450,000 |  |

1,721,126 |  | 1,744,815 |  |

Current assets

Stocks | 574,218 |  | 683,576 |  |

Debtors | 7 | 2,510,176 |  | 2,440,329 |  |

Cash at bank and in hand | 46,615 |  | 15,559 |  |

3,131,009 |  | 3,139,464 |  |

Creditors

Amounts falling due within one year | 8 | 1,621,033 |  | 1,722,777 |  |

Net current assets | 1,509,976 |  | 1,416,687 |  |

Total assets less current liabilities | 3,231,102 |  | 3,161,502 |  |

Creditors

Amounts falling due after more than one year | 9 | (1,203,576 | ) | (1,377,176 | ) |

Provisions for liabilities | 10 | (226,717 | ) | (242,148 | ) |

Net assets | 1,800,809 |  | 1,542,178 |  |

Capital and reserves

Called up share capital | 136 |  | 136 |  |

Share premium | 607,102 |  | 607,102 |  |

Retained earnings | 1,193,571 |  | 934,940 |  |

Shareholders' funds | 1,800,809 |  | 1,542,178 |  |

| STEELSEAL LTD (REGISTERED NUMBER: 07421424) |

Balance Sheet - continued

30 October 2024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

A L Weaver - Director

| STEELSEAL LTD (REGISTERED NUMBER: 07421424) |

Notes to the Financial Statements

for the year ended 30 October 2024

1. | Statutory information

| SteelSeal Ltd 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.

| Turnover

| Turnover represents net invoiced of services, excluding value added tax. Turnover is recognised when the service is provided to the customer.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Licences are being amortised evenly over their estimated useful life of ten years.

| 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 reducing balance and 10% on cost

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance and at variable rates on reducing balance

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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.

| 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.

3. | Employees and directors

| The average number of employees during the year was 24 (2023 - 27 ) .

| STEELSEAL LTD (REGISTERED NUMBER: 07421424) |

Notes to the Financial Statements - continued

for the year ended 30 October 2024

4. | Intangible fixed assets

| Other

| intangible

| assets

£ |

| Cost

| At 31 October 2023

| and 30 October 2024 | 192,427 |  |

| Amortisation

| At 31 October 2023 | 28,504 |  |

| Charge for year | 9,873 |  |

| At 30 October 2024 | 38,377 |  |

| Net book value

| At 30 October 2024 | 154,050 |  |

| At 30 October 2023 | 163,923 |  |

5. | Tangible fixed assets

| Improvements |  | Fixtures |

| to |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| Cost

| At 31 October 2023 | 449,115 |  | 786,916 |  | 78,911 |  | 1,376,644 |  | 2,691,586 |  |

| Additions | 153,911 |  | 66,100 |  | 1,609 |  | 348,317 |  | 569,937 |  |

| Disposals | - |  | - |  | - |  | (423,116 | ) | (423,116 | ) |

| At 30 October 2024 | 603,026 |  | 853,016 |  | 80,520 |  | 1,301,845 |  | 2,838,407 |  |

| Depreciation

| At 31 October 2023 | 212,102 |  | 570,817 |  | 63,100 |  | 714,675 |  | 1,560,694 |  |

| Charge for year | 76,548 |  | 113,842 |  | 7,791 |  | 74,236 |  | 272,417 |  |

| Eliminated on disposal | - |  | - |  | - |  | (111,780 | ) | (111,780 | ) |

| At 30 October 2024 | 288,650 |  | 684,659 |  | 70,891 |  | 677,131 |  | 1,721,331 |  |

| Net book value

| At 30 October 2024 | 314,376 |  | 168,357 |  | 9,629 |  | 624,714 |  | 1,117,076 |  |

| At 30 October 2023 | 237,013 |  | 216,099 |  | 15,811 |  | 661,969 |  | 1,130,892 |  |

6. | Fixed asset investments

| Shares in

| group

| undertakings

£ |

| Cost

| At 31 October 2023

| and 30 October 2024 | 450,000 |  |

| Net book value

| At 30 October 2024 | 450,000 |  |

| At 30 October 2023 | 450,000 |  |

| STEELSEAL LTD (REGISTERED NUMBER: 07421424) |

Notes to the Financial Statements - continued

for the year ended 30 October 2024

7. | Debtors: amounts falling due within one year |

2024 | 2023 |

£ | £ |

| Trade debtors | 781,964 |  | 725,467 |  |

| Amounts owed by group undertakings | 1,234,130 |  | 1,255,653 |  |

| Other debtors | 112,732 |  | 109,032 |  |

| Tax | - |  | 77,890 |  |

| Accrued income | 65,000 |  | - |  |

| Prepayments | 316,350 |  | 272,287 |  |

2,510,176 |  | 2,440,329 |  |

8. | Creditors: amounts falling due within one year |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 525,987 |  | 739,944 |  |

| Hire purchase contracts | 115,044 |  | 116,275 |  |

| Trade creditors | 463,524 |  | 380,687 |  |

| Tax | 79,873 |  | - |  |

| Social security and other taxes | 70,325 |  | 24,768 |  |

| Pension creditor | 5,062 |  | 3,011 |  |

| VAT | 86,771 |  | 146,053 |  |

| Other creditors | - |  | 84,594 |  |

| Directors' current accounts | 81,905 |  | 81,790 |  |

| Accruals and deferred income | 192,542 |  | 145,655 |  |

1,621,033 |  | 1,722,777 |  |

9. | Creditors: amounts falling due after more than one year |

2024 | 2023 |

£ | £ |

| Bank loans - 1-2 years | 111,065 |  | 223,517 |  |

| Other loans - 1-2 years | 712,862 |  | 807,303 |  |

| Hire purchase contracts | 279,649 |  | 246,356 |  |

| Directors' loan accounts | 100,000 |  | 100,000 |  |

1,203,576 |  | 1,377,176 |  |

10. | Provisions for liabilities

2024 | 2023 |

£ | £ |

| Deferred tax | 226,717 |  | 242,148 |  |

| Deferred |

| tax |

£ |

| Balance at 31 October 2023 | 242,148 |  |

| Provided during year | (15,431 | ) |

| Balance at 30 October 2024 | 226,717 |  |

11. | Related party disclosures

| Included within debtors there are amounts totalling £1,234,131 (2023: £1,255,652) owed to the company from company's under common control.