Company Registration No. 05646211 (England and Wales)
JW STEELE AND SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
JW STEELE AND SONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
JW STEELE AND SONS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
37,659
51,720
Current assets
Debtors
5
1,143,201
658,502
Cash at bank and in hand
315,832
396,795
1,459,033
1,055,297
Creditors: amounts falling due within one year
6
(499,025)
(329,890)
Net current assets
960,008
725,407
Net assets
997,667
777,127
Capital and reserves
Called up share capital
65,100
65,100
Profit and loss reserves
932,567
712,027
Total equity
997,667
777,127

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 May 2026 and are signed on its behalf by:
NML Duggan
Ms AM Howgego
Director
Director
CR Moore
Director
Company registration number 05646211 (England and Wales)
JW STEELE AND SONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Valuation of long term contracts

Turnover is recognised on long term contracts as they progress. There is a certain level of estimation and judgement involved in arriving at these valuations and therefore the amounts to be recognised as turnover, and therefore the gross profit margin and debtors.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event, as the company's best estimate of the cost that will be incurred based on legislative and contractual requirements.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation

The depreciation expense is recognised over the period of the estimated useful life of the asset and the allocation of the cost of the assets over the periods in which the assets will be used. Judgements are made on the estimated useful life of the assets which are regularly reviewed to reflect the changing environment.

2
Accounting policies
Company information

JW Steele And Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, County House, 100 New London Road, Chelmsford, Essex, CM2 0RG.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

JW STEELE AND SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 3 -

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.

Revenue from contracts for the provision of construction services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

2.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
12.5% on written down value
Fixtures, fittings & equipment
12.5% on written down value
Motor vehicles
25% on written down value

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.

2.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

JW STEELE AND SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Research and development tax credits are recognised as a credit to the tax charge during the year in which the claim was made.

Deferred tax

Deferred tax liabilities are generally recognised for al l timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference is not material or if it arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Refunds received from research and development claims are provided in the year following the claim. As a result, the tax charge in the profit or loss account consists of the current years tax charge and the previous years research and development refund.

JW STEELE AND SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Accounting policies
(Continued)
- 5 -
2.8
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.

2.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
216,940
Disposals
(24,430)
At 31 December 2025
192,510
Depreciation and impairment
At 1 January 2025
165,220
Depreciation charged in the year
11,902
Eliminated in respect of disposals
(22,271)
At 31 December 2025
154,851
Carrying amount
At 31 December 2025
37,659
At 31 December 2024
51,720
JW STEELE AND SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was 11 (2024 - 12).

2025
2024
Number
Number
Total
11
12
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,122,762
621,751
Amounts owed by group undertakings
4,966
4,966
Other debtors
15,473
31,785
1,143,201
658,502
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
226,523
150,425
Corporation tax
78,778
38,459
Other taxation and social security
168,811
118,260
Other creditors
24,913
22,746
499,025
329,890
7
Directors' transactions

At the year end, the amount owed by the directors to the company was £nil (202 4: £30,513 ).

8
Operating lease commitments
As lessee

4 Bannisters Yard, Mayes Lane, Sandon, Chelmsford, CM2 7RP

Workshop

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
429,000
-
0
2025-12-31 2025-01-01 false false false 11 May 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity NML Duggan Ms AM Howgego CR Moore 05646211 2025-01-01 2025-12-31 05646211 2025-12-31 05646211 2024-12-31 05646211 core:OtherPropertyPlantEquipment 2025-12-31 05646211 core:OtherPropertyPlantEquipment 2024-12-31 05646211 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 05646211 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05646211 core:CurrentFinancialInstruments 2025-12-31 05646211 core:CurrentFinancialInstruments 2024-12-31 05646211 core:ShareCapital 2025-12-31 05646211 core:ShareCapital 2024-12-31 05646211 core:RetainedEarningsAccumulatedLosses 2025-12-31 05646211 core:RetainedEarningsAccumulatedLosses 2024-12-31 05646211 bus:Director1 2025-01-01 2025-12-31 05646211 bus:Director2 2025-01-01 2025-12-31 05646211 bus:Director3 2025-01-01 2025-12-31 05646211 core:PlantMachinery 2025-01-01 2025-12-31 05646211 core:FurnitureFittings 2025-01-01 2025-12-31 05646211 core:MotorVehicles 2025-01-01 2025-12-31 05646211 core:OtherPropertyPlantEquipment 2024-12-31 05646211 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 05646211 2024-01-01 2024-12-31 05646211 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 05646211 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 05646211 bus:FRS102 2025-01-01 2025-12-31 05646211 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 05646211 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP