REGISTERED NUMBER: 02542464 (England and Wales)

Taylor Special Steels Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A D Cadman

J E V Ratledge

J W Ratledge

SECRETARY:

J E V Ratledge

REGISTERED OFFICE:

Gagarin

Lichfield Road Industrial Estate

Tamworth

Staffordshire

B79 7TA

REGISTERED NUMBER:

02542464 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

FIXED ASSETS

Tangible assets

4

31,513

33,719

Investments

5

327,361

327,361

358,874

361,080

CURRENT ASSETS

Stocks

1,735,162

2,083,178

Debtors

6

1,044,194

1,382,727

Cash at bank and in hand

181,736

4,513

2,961,092

3,470,418

CREDITORS

Amounts falling due within one year

7

1,147,594

1,455,272

NET CURRENT ASSETS

1,813,498

2,015,146

TOTAL ASSETS LESS CURRENT LIABILITIES

2,172,372

2,376,226

PROVISIONS FOR LIABILITIES

2,992

-

NET ASSETS

2,169,380

2,376,226

CAPITAL AND RESERVES

Called up share capital

10

2,000

2,000

Retained earnings

11

2,167,380

2,374,226

SHAREHOLDERS' FUNDS

2,169,380

2,376,226

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

Taylor Special Steels 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Taylor Special Steels Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

- 20% on cost

Fixtures and fittings

- 20% on cost

Motor vehicles

- 33% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

353,791

Additions

7,217

At 31 March 2025

361,008

DEPRECIATION

At 1 April 2024

320,072

Charge for year

9,423

At 31 March 2025

329,495

NET BOOK VALUE

At 31 March 2025

31,513

At 31 March 2024

33,719

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

327,361

NET BOOK VALUE

At 31 March 2025

327,361

At 31 March 2024

327,361

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

698,522

968,946

Amounts owed by group undertakings

-

299,137

Other debtors

235,684

12,979

Tax

30,522

31,043

Prepayments

79,466

70,622

1,044,194

1,382,727

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

503,375

527,099

Amounts owed to group undertakings

542,325

486,272

Social security and other taxes

12,484

12,746

VAT

69,058

98,903

Amounts owed to invoice

-

308,473

Accrued expenses

20,352

21,779

1,147,594

1,455,272

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

11,683

16,288

Between one and five years

15,210

18,523

26,893

34,811

9.	SECURED DEBTS

Amounts owed to invoice finance company of £nil (2024 - £308,473) is secured by a charge over book debts.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2,000

Ordinary

£1

2,000

2,000

11.

RESERVES

Retained

earnings

£

At 1 April 2024

2,374,226

Deficit for the year

(206,846

)

At 31 March 2025

2,167,380

12.	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

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.