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Registered number:
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
COMPANY INFORMATION
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CAHILL WELDING SERVICES LTD.
CONTENTS
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CAHILL WELDING SERVICES LTD.
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors present the strategic report for the year ended 31 August 2025.
Cahill Welding Services Ltd are a privately-owned, award-winning Steelwork Contractor operating from a modern purpose-built facility supplying quality structural steelwork throughout the UK.
In line with much of our industry, we were predicting a busy 2024/25 and had resourced the company accordingly to take advantage of the predicted workload.
The start of our new financial year looked promising with a raft of major project wins, these combined with a steady flow of smaller contracts gave us a degree of comfort going forward. Unfortunately, by Jan 2025 several large projects had been shelved completely and many smaller contracts severely delayed which left us with large gaps in both production and site activities.
The shortfall in production and the requirement to quickly secure alternative workload in a rapidly softening market, negatively impacted our selling price & margin.
Although 2024/25 has been an extremely challenging year the company directors are pleased with the way it has been managed throughout the period which is testament to the determination & dedication of the whole team.
We have continued to invest in our workshop, painting and design capabilities which puts us in a good position to capitalise on the right opportunities going forward.
The key performance indicators for the company are as follows:
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CAHILL WELDING SERVICES LTD.
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Client Failure, Credit worthiness is reviewed regularly, and contracts are only undertaken subject to having adequate credit insurance and suitably agreed terms in respect of payments, material vesting and the like.
The business wherever possible operates on the basis that no single client equates to more than 20% of our annual turnover.
Material cost remains volatile and can often change in a matter of weeks with very little notice; the business has long established relationships with major UK steel stockists and able to lock in steel rates several months in advance reducing the risk of unexpected cost increases and we are able to bring in vested materials ahead of the project start dates.
We identified further risks as follows:
(a) A potential slowing down of construction. The company is working strategically so that turnover is spread between multiple different sectors so that this risk is minimised as much as possible.
(b) Potential liquidation of customers (causing cash flow issues) and suppliers (causing supply chain issues). As regards to customers, the company undertakes credit control on a timely basis and is in constant dialogue with all customers to ensure we are paid within terms. The company continues to check on its suppliers to ensure that they have the supplies that the company will need with many products and materials being procured months in advance.
(c) Borrowing rate risk due to the level of bank borrowing undertaken to finance asset acquisitions and for general working capital. The company has a CBILS loan (Coronavirus Business Interruption Loan Scheme) at low fixed interest rates, which is repayable over 6 years, with the first 6 months interest paid by government. Hire purchase agreements are all fixed payment terms going forward, so the company is currently able to plan the repayment of all existing borrowings with a good degree of certainty around when repayments are due.
As we enter our financial year 2025/26, we are content with the secured workload and pipeline of work going forward, which we believe puts us in a robust position and predict a better year ahead.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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CAHILL WELDING SERVICES LTD.
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors present their report and the financial statements for the year ended 31 August 2025.
The loss for the year, after taxation, amounted to £451,160 (2024 - profit £2,576,990).
Ordinary dividends were paid amounting to £380,000. The directors do not recommend payment of a final dividend.
The directors who served during the year were:
The group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments.
A resolution proposing that AAB Audit & Accountancy Limited to be appointed as auditors in the next financial year will be put at a General Meeting.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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CAHILL WELDING SERVICES LTD.
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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CAHILL WELDING SERVICES LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAHILL WELDING SERVICES LTD.
We have audited the financial statements of Cahill Welding Services Limited. (the 'Company') for the year ended 31 August 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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CAHILL WELDING SERVICES LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAHILL WELDING SERVICES LTD. (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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CAHILL WELDING SERVICES LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAHILL WELDING SERVICES LTD. (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience:
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙enquiring of management as to actual and potential litigation and claims
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
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CAHILL WELDING SERVICES LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAHILL WELDING SERVICES LTD. (CONTINUED)
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Carlyle House
78 Chorley New Road
BL1 4BY
28 May 2026
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CAHILL WELDING SERVICES LTD.
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
REGISTERED NUMBER: 05511372
BALANCE SHEET
AS AT 31 AUGUST 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.
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CAHILL WELDING SERVICES LTD.
REGISTERED NUMBER: 05511372
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Company information
Cahill Welding Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5 & 6 The Saw Mills, Middlemarsh, Sherborne, Dorset.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006..
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
∙Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures
∙Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
∙Section 26 "Share based Payment": Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
∙Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of I & D Cahill Ltd. These consolidated financial statements are available from its registered office, The Station House, Station Road, Whalley, Lancashire.
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis. Although the company recorded a loss for the financial year, the directors have assessed the company's financial position. liquidity and future trading prospects.
The company does not prepare formal cash flow forecasts, but the directors undertake regular monitoring of cash balances, expected receipts and upcoming commitments. This monitoring provides sufficient visibility to ensure that the company can meet its obligations as they fall due.
Following the year end, the company has returned to profitability, with trading performance demonstrating improved margins and operational stability.
The company also benefits from a strong order book, giving the directors confidence in the level of future revenues. This, combined with improved post-year-end trading, supports the directors' view that the company will continue to operate for the forseeable future.
Based on these considerations, the directors believe that the going concern basis of preparation remains appropriate.
Profit is recognised on long term contracts if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account, turnover and related costs as contract activity progresses. Turnover is calculated as the proportion of the contract value which is estimated to have been completed. 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 leased asset are consumed. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values.
Amortisation is provided on the following bases:
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.
Depreciation is provided on the following basis:
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.
When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.
Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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 balance sheet.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Analysis of turnover by country of destination:
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
10.Taxation (continued)
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
The company is party to a cross guarantee given to its bankers in respect of loan facilities. The terms of the guarantee provide cross guarantees between Cahill Welding Services Ltd and I & D Cahill Ltd. The amount outstanding under this facility at 31 August 2025, excluding the amount included in creditors in this company, was £437,917 (2024: £474,000).
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CAHILL WELDING SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
At the year end there was a balance of £0 due from the directors (2024: £34,986). No interest has been charged and the loan is repayable on demand.
The ultimate controlling party of the company is
The registered office of the parent company is Cahill Structures Henstridge Airfield Industrial Estate, Marsh Lane, Henstridge, United Kingdom.
I & D Cahill Ltd prepares group financial statements and copies can be obtained from Companies House, Crown Way, Maindy, Cardiff.
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