Sterling Metal Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02964603

Sterling Metal Services Limited

Filleted Unaudited Financial Statements

30 September 2025

Sterling Metal Services Limited

Statement of Financial Position

30 September 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	86,423	83,189

Current assets

Stocks		282,478	346,245
Debtors	6	483,756	365,771
Cash at bank and in hand		48,923	148,912
		---------	---------
		815,157	860,928

Creditors: amounts falling due within one year	7	747,450	809,884
		---------	---------
Net current assets		67,707	51,044
		---------	---------
Total assets less current liabilities		154,130	134,233

Creditors: amounts falling due after more than one year	8	18,500	–

Provisions	18,657	17,660
	---------	---------
Net assets	116,973	116,573
	---------	---------

Capital and reserves

Called up share capital	9,720	9,720
Profit and loss account	107,253	106,853
	---------	---------
Shareholders funds	116,973	116,573
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

Sterling Metal Services Limited

Statement of Financial Position (continued)

30 September 2025

These financial statements were approved by the board of directors and authorised for issue on 9 April 2026 , and are signed on behalf of the board by:

Mr A Jones
Director

Company registration number: 02964603

Sterling Metal Services Limited

Notes to the Financial Statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit A Smestow Bridge Industrial Estate, Bridgnorth Road, Wombourne, Wolverhampton, West Midlands, WV5 8AY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue, being turnover, is measured at the fair value of the consideration received or receivable excluding estimated customer returns, discounts, rebates, Value Added Tax and other Sales Taxes and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and the legal title has passed.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stock has been valued at the lower of cost or net realisable value. In establishing the costs of stock at the financial year end the valuation is taken to represent the cost of the latest purchases. Net realisable value of stock is based on the estimated selling price after taking into account all further costs expected to be incurred prior to disposal. When stock is sold the carrying amount of such Stock is recognised as an expense in the period in which the related revenue is recognised. The amount of any write down of stock to net realisable value and all losses of Stock are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write down of Stock is recognised as a reduction in the amount of the Stock recognised as an expense in the period in which the reversal occurs.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

The company operates a non-contributory defined contributions pension scheme for directors and the pension charge for the scheme representing the amounts payable by the company to the fund will be in respect of charges arising in respect of each year. The company operates a defined contribution pension scheme in accordance with working place pensions regulations and for which the pension charge represents the amount payable by the company to the fund each year being in respect of charges arising in respect of each year.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 October 2024	216,255	61,057	104,051	381,363
Additions	–	2,772	62,458	65,230
Disposals	–	–	( 73,459)	( 73,459)
	---------	--------	---------	---------
At 30 September 2025	216,255	63,829	93,050	373,134
	---------	--------	---------	---------
Depreciation
At 1 October 2024	206,629	55,166	36,379	298,174
Charge for the year	1,444	2,086	20,475	24,005
Disposals	–	–	( 35,468)	( 35,468)
	---------	--------	---------	---------
At 30 September 2025	208,073	57,252	21,386	286,711
	---------	--------	---------	---------
Carrying amount
At 30 September 2025	8,182	6,577	71,664	86,423
	---------	--------	---------	---------
At 30 September 2024	9,626	5,891	67,672	83,189
	---------	--------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	458,841	347,400
Other debtors	24,915	18,371
	---------	---------
	483,756	365,771
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	371,885	435,197
Corporation tax	64,815	64,972
Social security and other taxes	98,460	106,855
Other creditors	212,290	202,860
	---------	---------
	747,450	809,884
	---------	---------

Bank borrowings are secured by an unlimited Fixed and Floating Charge in favour of Lloyds Bank PLC in the Bank's standard form supported by Joint and Several Guarantees of the Directors limited to £35000.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	18,500	–
	--------	----

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	6,637	3,763
Later than 1 year and not later than 5 years	8,945	2,508
	--------	-------
	15,582	6,271
	--------	-------