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Registration number: NI698240

BMG Steel Fabrications Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 May 2025

BMG Steel Fabrications Ltd

(Registration number: NI698240)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 109,049 | 16,173
Current assets |  |  |
Stocks | 5 | 5,314 | -
Debtors | 6 | 37,948 | 16,495
Cash at bank and in hand |  | 35,315 | 11,561
|  | 78,577 | 28,056
Creditors: Amounts falling due within one year | 7 | (138,622) | (20,130)
Net current (liabilities)/assets |  | (60,045) | 7,926
Total assets less current liabilities |  | 49,004 | 24,099
Provisions for liabilities |  | (18,378) | -
Net assets |  | 30,626 | 24,099
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | 30,526 | 23,999
Shareholders' funds |  | 30,626 | 24,099

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

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

BMG Steel Fabrications Ltd

(Registration number: NI698240)
Balance Sheet as at 31 May 2025

Approved and authorised by the director on 27 November 2025

......................................... Mr Barry Joseph McGoldrick Director

BMG Steel Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1 | General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 39 Eden Road, Portglenone, Co. Antrim, BT44 8LP.

These financial statements were authorised for issue by the director on 27 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

BMG Steel Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 20% per annum straight line basis
Fixtures & equipment | 15% per annum straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

BMG Steel Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 2).

BMG Steel Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4 | Tangible assets

| Motor vehicles £ | Fixtures & equipment £ | Total £
Cost or valuation
At 1 June 2024 | - | 16,173 | 16,173
Additions | 30,000 | 83,163 | 113,163
Disposals | - | (3,200) | (3,200)
At 31 May 2025 | 30,000 | 96,136 | 126,136
Depreciation
Charge for the year | 2,667 | 14,420 | 17,087
At 31 May 2025 | 2,667 | 14,420 | 17,087
Carrying amount
At 31 May 2025 | 27,333 | 81,716 | 109,049
At 31 May 2024 | - | 16,173 | 16,173

5 | Stock and work in progress

| 2025 £ | 2024 £
Stock of materials | 1,000 | -
Work in progress | 4,314 | -
| 5,314 | -

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 33,862 | 16,495
Prepayments | 2,791 | -
Other debtors | 1,295 | -
| 37,948 | 16,495

BMG Steel Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 19,100 | -
Trade creditors |  | 19,637 | 18,294
Taxation and social security |  | 1,085 | 1,836
Accruals and deferred income |  | 20,000 | -
Other creditors |  | 78,800 | -
|  | 138,622 | 20,130

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

9 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 19,100 | -

10 | Related party transactions

| 2025 £ | 2024 £
Directors current account | (78,800) | -