Registration number: 04445796

MSM Fabrications Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

MSM Fabrications Limited

(Registration number: 04445796)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,010,477	1,068,996
Current assets
Stocks	5	691,154	558,735
Debtors	6	1,720,636	1,336,847
Cash at bank and in hand		481,469	313,046
		2,893,259	2,208,628
Creditors: Amounts falling due within one year	7	(1,447,262)	(849,542)
Net current assets		1,445,997	1,359,086
Total assets less current liabilities		2,456,474	2,428,082
Creditors: Amounts falling due after more than one year	7	(295,898)	(331,867)
Provisions for liabilities		(192,569)	(192,569)
Net assets		1,968,007	1,903,646
Capital and reserves
Called up share capital		201	201
Retained earnings		1,967,806	1,903,445
Shareholders' funds		1,968,007	1,903,646

MSM Fabrications Limited

(Registration number: 04445796)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 July 2026 and signed on its behalf by:
 

......................................... Mr A Wilcox Director

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Waidshouse Mill
Townsley Street
Nelson
Lancashire
BB9 0RY
England

These financial statements were authorised for issue by the Board on 21 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% reducing balance
Motor vehicles	25% reducing balance
Fixtures and fittings	25% reducing balance
Office equipment	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 79 (2024 - 74).

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	1,918,936	232,359	2,151,295
Additions	12,514	82,500	95,014
Disposals	-	(3,541)	(3,541)
At 31 December 2025	1,931,450	311,318	2,242,768
Depreciation
At 1 January 2025	957,925	124,374	1,082,299
Charge for the year	103,920	47,400	151,320
Eliminated on disposal	-	(1,328)	(1,328)
At 31 December 2025	1,061,845	170,446	1,232,291
Carrying amount
At 31 December 2025	869,605	140,872	1,010,477
At 31 December 2024	961,011	107,985	1,068,996

5

Stocks

	2025 £	2024 £
Other inventories	691,154	558,735

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		646,811	906,173
Amounts owed by related parties	10	134,191	13,000
Prepayments		48,571	9,484
Other debtors		891,063	408,190
		1,720,636	1,336,847

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	116,275	123,981
Trade creditors		537,404	365,561
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	409,982	94,124
Taxation and social security		263,091	195,539
Accruals and deferred income		68,800	61,600
Other creditors		51,710	8,737
		1,447,262	849,542

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	295,898	331,867

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	16,948	20,715
Hire purchase contracts	278,950	311,152
	295,898	331,867

Current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	116,275	123,981

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

9	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £395,225 (2024 - £435,133). The HP contracts are secured against the assets they relate to.

10	Related party transactions

Transactions with directors

2025	At 1 January 2025 £	At 31 December 2025 £
Mr A Wilcox
The loan account is repayable on demand	49,376	49,376

2024	At 1 January 2024 £	At 31 December 2024 £
Mr A Wilcox
The loan account is repayable on demand	49,376	49,376

Summary of transactions with parent

Wilcox Holdings Ltd Loan Advance

Summary of transactions with subsidiaries

Transactions with group companies:
Urban Street Design Ltd
Secure Line Solutions Ltd
MSM Property Ltd
Sales of goods, management and rental recharges
Loan Advance

Income and receivables from related parties

2025	Subsidiary £
Sale of goods	1,616,770
Receipt of services	632,805
	2,249,575
Amounts receivable from related party	237,012

MSM Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Loans to related parties

2025	Parent £	Subsidiary £	Total £
At start of period	13,000	-	13,000
Advanced	-	121,192	121,192
At end of period	13,000	121,192	134,192

2024	Parent £	Total £
Advanced	13,000	13,000
At end of period	13,000	13,000

Loans from related parties

2025	Subsidiary £	Total £
At start of period	94,124	94,124
Advanced	315,858	315,858
At end of period	409,982	409,982

2024	Subsidiary £	Total £
Advanced	94,124	94,124
At end of period	94,124	94,124