Stainless Tube & Needle Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02374498 (England and Wales)

Stainless Tube & Needle Company Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J E V Ratledge

J W Ratledge

G Perry

SECRETARY:

J E V Ratledge

REGISTERED OFFICE:

Gagarin Apollo

Lichfield Road Industrial Estate

Tamworth

Staffordshire

B79 7TA

REGISTERED NUMBER:

02374498 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

FIXED ASSETS

Tangible assets

4

87,756

100,618

CURRENT ASSETS

Stocks

117,529

119,661

Debtors

5

831,479

829,767

Cash at bank and in hand

3,792,129

3,125,816

4,741,137

4,075,244

CREDITORS

Amounts falling due within one year

6

326,570

232,230

NET CURRENT ASSETS

4,414,567

3,843,014

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,502,323

3,943,632

PROVISIONS FOR LIABILITIES

8

21,939

25,155

NET ASSETS

4,480,384

3,918,477

CAPITAL AND RESERVES

Called up share capital

9

1,000

Retained earnings

10

4,479,384

3,917,477

SHAREHOLDERS' FUNDS

4,480,384

3,918,477

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 23 October 2025 and were signed on its behalf by:

J E V Ratledge - Director

1.	STATUTORY INFORMATION

Stainless Tube & Needle Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared one going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs 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.

Plant and machinery

- 15% on reducing balance

Fixtures and fittings

- 25% on cost and 15% on reducing balance

Motor vehicles

- 25% on cost

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

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.

At each period end the company reviews the net book values of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If so, the recoverable amount of the asset is estimated the asset is reduced to this amount. The impairment loss is written off to profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Stocks

Stocks are stared 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.

At each period end, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The company has taken advantage of the exemption from the disclosure requirements of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 in respect of all of its financial instruments.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

257,063

Additions

10,717

At 31 March 2025

267,780

DEPRECIATION

At 1 April 2024

156,445

Charge for year

23,579

At 31 March 2025

180,024

NET BOOK VALUE

At 31 March 2025

87,756

At 31 March 2024

100,618

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

167,237

165,525

Amounts owed by group undertakings

664,242

831,479

829,767

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

126,539

78,318

Tax

130,258

57,190

Social security and other taxes

27,049

11,110

VAT

28,083

35,829

Other creditors

3,155

4,410

Accruals and deferred income

11,486

45,373

326,570

232,230

7.	LEASING AGREEMENTS

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

2025

2024

£

Within one year

17,500

Between one and five years

46,667

64,167

81,667

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

21,939

25,155

Deferred

tax

£

Balance at 1 April 2024

25,155

Provided during year

(3,216

)

Balance at 31 March 2025

21,939

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1,000

Ordinary

£1

1,000

10.

RESERVES

Retained

earnings

£

At 1 April 2024

3,917,477

Profit for the year

561,907

At 31 March 2025

4,479,384

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

The Report of the Auditors was unqualified.

Stephen Butler BA FCA (Senior Statutory Auditor)

for and on behalf of TC Group

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	PARENT COMPANY

The ultimate parent company is Tamworth Steel Stockholders Limited, a company registered in England and Wales.

Tamworth Steel Stockholders Limited prepares group consolidated accounts and copies can be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.