Company registration number 01818508 (England and Wales)
WEST LANCASHIRE STEEL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
WEST LANCASHIRE STEEL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
WEST LANCASHIRE STEEL SERVICES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
927,709
436,371
Current assets
Stocks
32,214
33,070
Debtors
4
330,895
300,218
Cash at bank and in hand
8,092
7,839
371,201
341,127
Creditors: amounts falling due within one year
5
(506,630)
(525,796)
Net current liabilities
(135,429)
(184,669)
Total assets less current liabilities
792,280
251,702
Creditors: amounts falling due after more than one year
6
-
0
(39,712)
Provisions for liabilities
(8,153)
(12,162)
Net assets
784,127
199,828
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
702,606
188,252
Profit and loss reserves
80,521
10,576
Total equity
784,127
199,828

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

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 21 October 2025 and are signed on its behalf by:
S A Howie
C S Howie
Director
Director
Company Registration No. 01818508
WEST LANCASHIRE STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
1.1
Accounting convention

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

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

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:

Leasehold buildings
2% on cost or valuation
Plant and machinery
12.5% on cost
Fixtures, fittings & equipment
20% on cost
Motor vehicles
25% on cost

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and loss es are recognised in profit or loss.

WEST LANCASHIRE STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
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.

1.7
Equity instruments

Ordinary shares are classified as equity. There are two classes of Ordinary shares. There are no restrictions on the distribution of dividends or the repayment of capital.

1.8
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
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.

WEST LANCASHIRE STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Retirement benefits

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

1.11
Leases

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.

1.12
Company information

West Lancashire Steel Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Abbotsfield Road, Reginald Road Industrial Estate, St Helens, WA9 4HU.

2
Employees

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

2025
2024
Number
Number
Total
10
10
WEST LANCASHIRE STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
3
Tangible fixed assets
Leasehold buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 May 2024
550,000
241,898
38,996
63,900
894,794
Revaluation
355,000
-
0
-
0
-
0
355,000
At 30 April 2025
905,000
241,898
38,996
63,900
1,249,794
Depreciation and impairment
At 1 May 2024
169,197
198,918
31,276
59,032
458,423
Depreciation charged in the year
16,407
6,024
7,639
2,789
32,859
Revaluation
(169,197)
-
0
-
0
-
0
(169,197)
At 30 April 2025
16,407
204,942
38,915
61,821
322,085
Carrying amount
At 30 April 2025
888,593
36,956
81
2,079
927,709
At 30 April 2024
380,803
42,980
7,720
4,868
436,371

The freehold and leasehold land and buildings were valued on an open market basis by a firm of independent Chartered Surveyors.

If these properties were sold for their revalued amounts it would be necessary to replace them with similar property, and rollover relief against tax on the gain would be available. Accordingly, no timing differences arise and no provision has been made for deferred tax in respect of the revaluation.

2025
2024
£
£
Cost
366,451
366,451
Accumulated depreciation
(180,464)
(173,900)
Carrying value
185,987
192,551
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
304,694
276,553
Other debtors
26,201
23,665
330,895
300,218
WEST LANCASHIRE STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
27,373
Trade creditors
227,194
210,834
Taxation and social security
98,579
88,770
Other creditors
180,857
198,819
506,630
525,796

Included in trade creditors is an amount of £124,276 (2024 - £134,326) which relates to amounts owed to The Royal Bank of Scotland Commercial Services Limited. This liability is secured on gross trade debtors of £304,694 (2024 - £276,555).

The bank loan is secured by a first legal mortgage over land at Abbotsfield Road, Reginald Road Industrial Estate, St Helens, WA9 4HU.

An additional bank loan was taken out. This is a government backed Coronavirus Business Interruption Loan Scheme and is due to be repaid over 5 years.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
-
0
39,712

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

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