Black Sheep Ironworks Limited - Filleted accounts

Registered number

04508565

Black Sheep Ironworks Limited

Unaudited Filleted Accounts

For the Year Ended

31 August 2025

Black Sheep Ironworks Limited
Registered number:		04508565
Balance Sheet
as at 31 August 2025
Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		78,897			93,831

Current assets
Stocks		45,750			59,070
Debtors	5	24,016			44,495
Cash at bank and in hand		23,898			10,921
		93,664			114,486

Creditors: amounts falling due within one year	6	(74,017)			(72,854)

Net current assets			19,647			41,632

Total assets less current liabilities			98,544			135,463


Provisions for liabilities			(16,890)			(17,827)


Net assets			81,654			117,636

Capital and reserves
Called up share capital			100			100
Profit and loss account			81,554			117,536

Shareholder's funds			81,654			117,636

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



A R Townley
Director
Approved by the board on 27 March 2026

Black Sheep Ironworks Limited
Notes to the Accounts
for the year ended 31 August 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Alterations to leasehold			over 10 years
	Tools and equipment			10% reducing balance
	Computers			over 3 years
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					5		5


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 September 2024							12,000
	At 31 August 2025							12,000

	Amortisation
	At 1 September 2024							12,000
	At 31 August 2025							12,000

	Net book value
	At 31 August 2025							-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2024	7,129		96,977		73,668		177,774
	Additions	-		6,288		-		6,288
	At 31 August 2025	7,129		103,265		73,668		184,062

	Depreciation
	At 1 September 2024	7,129		73,476		3,338		83,943
	Charge for the year	-		3,640		17,582		21,222
	At 31 August 2025	7,129		77,116		20,920		105,165

	Net book value
	At 31 August 2025	-		26,149		52,748		78,897
	At 31 August 2024	-		23,501		70,330		93,831


5	Debtors					2025		2024
£							£

	Trade debtors					16,506		35,559
	Other debtors					7,510		8,936
						24,016		44,495


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					12,076		23,277
	Taxation and social security costs					18,523		14,630
	Other creditors					43,418		34,947
						74,017		72,854


7	Other information

	Black Sheep Ironworks Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 15 Holme Mills Industrial Estate
	Holme
	Carnforth
	Lancashire
	LA6 1RD