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Registered number: 01352116
Rowan Steels Limited
Unaudited Financial Statements
For the Period 1 February 2025 to 31 March 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01352116
31 March 2026 31 January 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 119,823 144,300
119,823 144,300
CURRENT ASSETS
Stocks 5 1,426,618 1,102,950
Debtors 6 1,995,871 1,551,781
Cash at bank and in hand 21,682 5,666
3,444,171 2,660,397
Creditors: Amounts Falling Due Within One Year 7 (3,284,656 ) (2,489,266 )
NET CURRENT ASSETS (LIABILITIES) 159,515 171,131
TOTAL ASSETS LESS CURRENT LIABILITIES 279,338 315,431
Creditors: Amounts Falling Due After More Than One Year 8 (34,117 ) (64,391 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,939 ) (36,075 )
NET ASSETS 215,282 214,965
CAPITAL AND RESERVES
Called up share capital 10 257 257
Capital redemption reserve 1 1
Profit and Loss Account 215,024 214,707
SHAREHOLDERS' FUNDS 215,282 214,965
Page 1
Page 2
For the period ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R P Lees
Director
Mr A Sorrell
Director
12 June 2026
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rowan Steels Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01352116 . The registered office is Unit 4, Edwin Road Hoo Farm Industrial Estate, Worcester Road, Kidderminster, Worcestershire, DY11 7RA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% on reducing balance
Computer Equipment 10% on reducing balance
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Reporting Period
The financial statements cover a period of fourteen months, as the directors have chosen to align the reporting period with the tax year. The comparative amounts presented in the financial statements (Including the related notes) are therefore not entirely comparable. 
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 17 (2025: 15)
17 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2025 175,383 84,850 15,226 21,936 297,395
Additions - - - 100 100
As at 31 March 2026 175,383 84,850 15,226 22,036 297,495
Depreciation
As at 1 February 2025 96,981 42,246 1,725 12,143 153,095
Provided during the period 9,147 12,427 1,730 1,273 24,577
As at 31 March 2026 106,128 54,673 3,455 13,416 177,672
Net Book Value
As at 31 March 2026 69,255 30,177 11,771 8,620 119,823
As at 1 February 2025 78,402 42,604 13,501 9,793 144,300
5. Stocks
31 March 2026 31 January 2025
£ £
Stock 1,426,618 1,102,950
6. Debtors
31 March 2026 31 January 2025
£ £
Due within one year
Trade debtors 1,847,840 1,427,439
Amounts owed by participating interests 15,288 13,608
Other debtors 132,743 110,734
1,995,871 1,551,781
Included within Trade debtors are £1,847,840 (2025 - £1,427,439) debts which are subject to a recourse invoice finance agreement with Close Brothers. 
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7. Creditors: Amounts Falling Due Within One Year
31 March 2026 31 January 2025
£ £
Net obligations under finance lease and hire purchase contracts 14,923 14,923
Trade creditors 1,621,301 1,155,671
Bank loans and overdrafts 12,500 14,267
Other creditors 1,552,379 1,176,889
Taxation and social security 83,553 127,516
3,284,656 2,489,266
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2026 31 January 2025
£ £
Net obligations under finance lease and hire purchase contracts 11,200 26,891
Bank loans 22,917 37,500
34,117 64,391
9. Secured Creditors
Included in other creditors is the invoice finance facility with Close Brothers dated 29 January 2021 secured by a fixed and floating charge over the company's book debts and by a debenture over all the assets of the company. 
Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. 
31 March 2026 31 January 2025
£ £
Net obligations under finance lease and hire purchase contracts 26,123 41,814
Other Creditors 1,535,026 1,165,238
10. Share Capital
31 March 2026 31 January 2025
£ £
Allotted, Called up and fully paid 257 257
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 March 2026 31 January 2025
£ £
Not later than one year 60,000 45,000
Later than one year and not later than five years 115,000 131,250
175,000 176,250
12. Related Party Transactions
At the year end the company is owed £13,608 (2025: £13,608) by Rowan Acquistions Limited, a company with common directors and shareholders.
At the year end the company is owed £1,680 (2025: NIL) by B.I.L. Steels Limited, a company with common directors and shareholders. During the year the company received management charges of £247,552 (2025: £41,733) from B.I.L. Steels Limited.
13. Exceptional Items
During the year the company incurred costs for exceptional items relating to bad debts totalling £46,267 (2025: £126,135).
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