Registration number: 06228504

South West Steel Construction Limited

Contents

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

South West Steel Construction Limited

Company Information

Directors

Simon James Ian Ellacott

Registered office

Waldon Way Holsworthy Industrial Estate Holsworthy Devon EX22 6ER

Accountants

Ward & Co Consultants Limited West Penhill Farm Fremington Barnstaple Devon EX31 2NG

South West Steel Construction Limited

(Registration number: 06228504)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	500,028	554,905
Current assets
Stock	6	545,382	570,601
Debtors	7	1,092,292	809,058
Cash at bank and in hand		211,548	292,834
		1,849,222	1,672,493
Creditors: Amounts falling due within one year	8	(1,138,326)	(1,092,057)
Net current assets		710,896	580,436
Total assets less current liabilities		1,210,924	1,135,341
Provisions for liabilities		(138,666)	(136,681)
Net assets		1,072,258	998,660
Capital and reserves
Called up share capital	9	100	100
Retained earnings		1,072,158	998,560
Shareholders' funds		1,072,258	998,660

For the financial year ending 31 January 2026 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 31 July 2026 and signed on its behalf by:
 

......................................... Simon James Director

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

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

The address of its registered office is:
Waldon Way
Holsworthy Industrial Estate
Holsworthy
Devon
EX22 6ER

These financial statements were authorised for issue by the Board on 31 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared 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.

Tax

The tax expense for the period comprises current and deferred 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.

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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
Motor vehicles	20% reducing balance
Plant & Machinery	10% reducing balance
Fixtures and fittings	10% reducing balance
Computer equipment	3 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Stock

Stock 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, stock are assessed for impairment. If stock 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.

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.

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.

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.

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2025 - 20).

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 February 2025	200,000	200,000
At 31 January 2026	200,000	200,000
Amortisation
At 1 February 2025	200,000	200,000
At 31 January 2026	200,000	200,000
Carrying amount
At 31 January 2026	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2025	4,225	789,882	380,068	1,174,175
Additions	-	40,510	-	40,510
Disposals	-	-	(15,947)	(15,947)
At 31 January 2026	4,225	830,392	364,121	1,198,738
Depreciation
At 1 February 2025	4,225	425,971	189,073	619,269
Charge for the year	-	45,331	48,032	93,363
Eliminated on disposal	-	-	(13,922)	(13,922)
At 31 January 2026	4,225	471,302	223,183	698,710
Carrying amount
At 31 January 2026	-	359,090	140,938	500,028
At 31 January 2025	-	363,909	190,996	554,905

Included within the net book value of land and buildings above is £Nil (2025 - £Nil) in respect of freehold land and buildings.
 

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

6

Stock

	2026 £	2025 £
Raw materials and consumables	545,382	570,601

7

Debtors

Current	Note	2026 £	2025 £
Trade debtors		487,263	437,335
Amounts owed by related parties	11	298,808	172,021
Prepayments		45,851	37,509
Other debtors		260,370	162,193
		1,092,292	809,058

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	672,915	813,388
Taxation and social security	254,267	126,176
Accruals and deferred income	57,469	57,078
Other creditors	153,675	95,415
	1,138,326	1,092,057

9	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	26	26	26	26
Ordinary A shares of £1 each	74	74	74	74
	100	100	100	100

10

Dividends

		2026		2025
		£		£
Dividends paid in the year		415,582		366,714

South West Steel Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

11	Related party transactions

Summary of transactions with parent

As at 31 January 2026 there was £298,808 (2025 £172,021) owed by a connected company.
As at 31 January 2026 there was £Nil (2025 £Nil) owed to connected companies.

12	Controlling party

The ultimate parent company is Stowford Storage and Investments Ltd which is incorporated in England and Wales. Stowford Storage and Investments Ltd registered office is Stowford Lodge, Halwill, Beaworthy, EX21 5UN.