REGISTERED NUMBER: 03228231 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

NST Welding (UK) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

D R Gangso

REGISTERED OFFICE:

Dedicated Transport Solutions, Unit 8

Solingen House, Remscheid Way

Jubilee Industrial Estate

Ashington

Northumberland

NE63 8UJ

REGISTERED NUMBER:

03228231 (England and Wales)

AUDITORS:

O'Haras Accountants Limited (Statutory Auditor)

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

3

9,805

13,348

CURRENT ASSETS

Stocks

291,855

276,394

Debtors

4

270,806

235,592

Cash at bank and in hand

214,791

220,992

777,452

732,978

CREDITORS

Amounts falling due within one year

5

334,177

309,805

NET CURRENT ASSETS

443,275

423,173

TOTAL ASSETS LESS CURRENT LIABILITIES

453,080

436,521

CAPITAL AND RESERVES

Called up share capital

6

25,000

25,000

Retained earnings

7

428,080

411,521

SHAREHOLDERS' FUNDS

453,080

436,521

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 March 2026 and were signed by:

D R Gangso - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The director continues to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the director considers it appropriate to prepare the financial statements on a going concern basis.

Revenue

Turnover represents the amounts derived from the provision of goods, excluding value added tax and trade discounts. Turnover is recognised at the point goods are dispatched.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Inventories

Stock is valued at cost, which is represented by the average purchase price and delivery costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of fixed assets

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

11,500

35,876

47,376

DEPRECIATION

At 1 January 2025

188

33,840

34,028

Charge for year

2,875

668

3,543

At 31 December 2025

3,063

34,508

37,571

NET BOOK VALUE

At 31 December 2025

8,437

1,368

9,805

At 31 December 2024

11,312

2,036

13,348

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

265,104

230,623

Other debtors

1,300

1,300

Deferred tax asset

1,635

1,010

Prepayments

2,767

2,659

270,806

235,592

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

7,394

4,447

Tax

14,144

57,906

Social security and other taxes

2,399

3,031

VAT

50,258

39,982

Inter Co-Norsk Sveiseteknikk

AS

246,942

192,213

Accrued expenses

13,040

12,226

334,177

309,805

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

25,000

Ordinary

£1

25,000

25,000

7.

RESERVES

Retained

earnings

£

At 1 January 2025

411,521

Profit for the year

136,559

Dividends

(120,000

)

At 31 December 2025

428,080

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John O'Hara CA (Senior Statutory Auditor)

for and on behalf of O'Haras Accountants Limited (Statutory Auditor)

9.	RELATED PARTY DISCLOSURES

Norsk Sveiseteknikk AS is the parent company with its registered office being Industriveien 28, 3300 Hokksund, Norway.

At the 31 December 2025 there was £246,942 due to Norsk Sveiseteknikk AS (2024:£192,213).

10.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.