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REGISTERED NUMBER: 04066302 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 SEPTEMBER 2025 |

| FOR |

| IN STEEL (BLACKSMITHS & FABRICATORS) |

| LIMITED |

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| DIRECTOR: | I F D Nicholls

| SECRETARY: | Mrs H Nicholls

| REGISTERED OFFICE: | United Downs Industrial Estate

| St Day

| Redruth

| Cornwall

| TR16 5HY

| REGISTERED NUMBER: | 04066302 (England and Wales)

| ACCOUNTANTS: | Whitakers

| Chartered Accountants

| Bryndon House

| 5/7 Berry Road

| Newquay

| Cornwall

| TR7 1AD

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

STATEMENT OF FINANCIAL POSITION

30 SEPTEMBER 2025

| 30.9.25 | 30.9.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 434,537 |  | 492,467 |  |

CURRENT ASSETS

Stocks | 5 | 41,600 |  | 41,000 |  |

Debtors | 6 | 197,583 |  | 319,309 |  |

Cash at bank and in hand | 61,640 |  | 68,626 |  |

300,823 |  | 428,935 |  |

CREDITORS

Amounts falling due within one year | 7 | 435,233 |  | 563,376 |  |

NET CURRENT LIABILITIES | (134,410 | ) | (134,441 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 300,127 |  | 358,026 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (205,482 | ) | (277,322 | ) |

PROVISIONS FOR LIABILITIES | (75,541 | ) | (65,675 | ) |

ACCRUALS AND DEFERRED INCOME | - |  | (4,500 | ) |

NET ASSETS | 19,104 |  | 10,529 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 19,103 |  | 10,528 |  |

SHAREHOLDERS' FUNDS | 19,104 |  | 10,529 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

STATEMENT OF FINANCIAL POSITION - continued

30 SEPTEMBER 2025

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 director and authorised for issue on 1 April 2026 and were signed by:

I F D Nicholls - Director

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | STATUTORY INFORMATION

| In Steel (Blacksmiths & Fabricators) 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.

| Turnover

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

| Turnover also includes applications in respect of work done to specific stages which has yet to be invoiced. Output VAT is accounted for at the earlier of payment for work done or the issue of a sales invoice.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property | - | 5% on cost

| Plant and machinery | - | 15% on reducing balance

| Motor vehicles | - | 20% on reducing balance

| Office & computer equipment | - | 33% on cost and 15% on reducing balance

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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 31 (2024 - 39 ) .

4. | TANGIBLE FIXED ASSETS

| Freehold |  | Plant and

| property |  | Extension |  | machinery

£ | £ | £ |

| COST

| At 1 October 2024 | 332,837 |  | 78,995 |  | 532,840 |  |

| Additions | - |  | - |  | 18,066 |  |

| Disposals | - |  | - |  | (927 | ) |

| At 30 September 2025 | 332,837 |  | 78,995 |  | 549,979 |  |

| DEPRECIATION

| At 1 October 2024 | 316,195 |  | - |  | 231,412 |  |

| Charge for year | 16,642 |  | - |  | 46,444 |  |

| Eliminated on disposal | - |  | - |  | (186 | ) |

| At 30 September 2025 | 332,837 |  | - |  | 277,670 |  |

| NET BOOK VALUE

| At 30 September 2025 | - |  | 78,995 |  | 272,309 |  |

| At 30 September 2024 | 16,642 |  | 78,995 |  | 301,428 |  |

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4. | TANGIBLE FIXED ASSETS - continued

| Office & |

| Motor |  | computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | 218,541 |  | 42,549 |  | 1,205,762 |  |

| Additions | 10,495 |  | - |  | 28,561 |  |

| Disposals | (33,349 | ) | - |  | (34,276 | ) |

| At 30 September 2025 | 195,687 |  | 42,549 |  | 1,200,047 |  |

| DEPRECIATION

| At 1 October 2024 | 130,959 |  | 34,729 |  | 713,295 |  |

| Charge for year | 19,147 |  | 1,173 |  | 83,406 |  |

| Eliminated on disposal | (31,005 | ) | - |  | (31,191 | ) |

| At 30 September 2025 | 119,101 |  | 35,902 |  | 765,510 |  |

| NET BOOK VALUE

| At 30 September 2025 | 76,586 |  | 6,647 |  | 434,537 |  |

| At 30 September 2024 | 87,582 |  | 7,820 |  | 492,467 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | 241,381 |  | 98,923 |  | 340,304 |  |

| Additions | 17,454 |  | - |  | 17,454 |  |

| Transfer to ownership | (81,508 | ) | - |  | (81,508 | ) |

| At 30 September 2025 | 177,327 |  | 98,923 |  | 276,250 |  |

| DEPRECIATION

| At 1 October 2024 | 62,941 |  | 29,756 |  | 92,697 |  |

| Charge for year | 23,003 |  | 13,834 |  | 36,837 |  |

| Transfer to ownership | (38,961 | ) | - |  | (38,961 | ) |

| At 30 September 2025 | 46,983 |  | 43,590 |  | 90,573 |  |

| NET BOOK VALUE

| At 30 September 2025 | 130,344 |  | 55,333 |  | 185,677 |  |

| At 30 September 2024 | 178,440 |  | 69,167 |  | 247,607 |  |

5. | STOCKS

| 30.9.25 |  | 30.9.24

£ | £ |

| Stock and work in progress | 41,600 |  | 41,000 |  |

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.9.25 |  | 30.9.24

£ | £ |

| Trade debtors | 173,371 |  | 287,019 |  |

| Other debtors | 20,464 |  | 25,440 |  |

| Prepayments | 3,748 |  | 6,850 |  |

197,583 |  | 319,309 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loans and overdrafts | 37,176 |  | 40,780 |  |

| Hire purchase contracts | 51,484 |  | 52,230 |  |

| Trade creditors | 206,911 |  | 280,053 |  |

| Corporation tax | 93,500 |  | 70,105 |  |

| Social security and other taxes | 33,054 |  | 71,828 |  |

| Other creditors | 1,987 |  | 2,646 |  |

| Directors' current accounts | 979 |  | 1,004 |  |

| Accruals and deferred income | 4,000 |  | 38,500 |  |

| Accrued expenses | 6,142 |  | 6,230 |  |

435,233 |  | 563,376 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loans - 1-2 years | 22,178 |  | 35,789 |  |

| Bank loans - 2-5 years | 66,533 |  | 62,339 |  |

| Bank loans due after more than

| 5 years by instalments | 39,840 |  | 68,234 |  |

| Hire purchase contracts | 76,931 |  | 110,960 |  |

205,482 |  | 277,322 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans due after more than

| 5 years by instalments | 39,840 |  | 68,234 |  |

39,840 |  | 68,234 |  |

IN STEEL (BLACKSMITHS & FABRICATORS)

LIMITED (REGISTERED NUMBER: 04066302)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loans | 165,727 |  | 207,142 |  |

| Hire purchase contracts | 128,415 |  | 163,190 |  |

294,142 |  | 370,332 |  |

| The hire purchase liability and other loans are secured by way of a first charge over the asset(s) specified in the relevant agreements.

10. | ULTIMATE CONTROLLING PARTY

| The sole director, Mr I F D Nicholls controls the company as a result of him and his immediate family members owning 100% of the issued share capital.