ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: NI685251

Valk Welding Ireland Limited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2025

Valk Welding Ireland Limited

Registered number: NI685251

Balance sheet

As at 31 December 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		159,776		152,626
Other Non-current assets	5		15,000		15,000
			174,776		167,626
Current assets
Stocks		-		2,450
Debtors: amounts falling due within one year	5	81,418		94,488
Cash at bank and in hand	6	83,183		46,250
		164,601		143,188
Creditors: amounts falling due within one year	7	(285,557)		(271,953)
Net current liabilities			(120,956)		(128,765)
Total assets less current liabilities			53,820		38,861
Provisions for liabilities
Deferred tax	8	(5,424)		(9,271)
			(5,424)		(9,271)
Net assets			48,396		29,590

Capital and reserves
Called up share capital	9	1	1
Profit and loss account		48,395	29,589
		48,396	29,590

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2026.

Remco H. Valk

Director

The notes on pages 3 to 9 form part of these financial statements.

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Valk Welding Ireland Limited

Statement of changes in equity

For the year ended 31 December 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	1	13,004	13,005

Profit for the year	-	16,585	16,585

At 1 January 2025	1	29,589	29,590

Profit for the year	-	18,806	18,806
At 31 December 2025	1	48,395	48,396

The notes on pages 3 to 9 form part of these financial statements.

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Valk Welding Ireland Limited

Notes to the financial statements

For the year ended 31 December 2025

1.	General information

Valk Welding Ireland Limited is a private company limited by shares incorporated in Northern Ireland. The registrations number and address of the registered office are given in the company section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The directors of Valk Welding Ireland Limited have reviewed the resources available and believe that the company has adequate resources in operational existence for the foreseeable future.
With support from its parent company and other group trading entities with which it engages, Valk Welding Ireland Limited continues to adopt the going concern basis in preparing the financial statements.

2.3

Turnover

Turnover shown in the Statement of Comprehensive Income represents amounts receivable from Valk Welding Ireland Limited immediate parent company, Valk Holding BV during the period for the provision of support services, exclusive of VAT.

Turnover in respect of the provision of support services to Valk Holding BV is calculated as attributable cost plus a mark up, in accordance with an intercompany agreement between Valk Welding Ireland Limited and Valk Holding BV.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

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Valk Welding Ireland Limited

Notes to the financial statements

For the year ended 31 December 2025

2.Accounting policies (continued)

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvement	-	20%	straight-line method
Plant and machinery	-	20%	straight-line method
Motor vehicles	-	20%	straight-line method
Fixtures and fittings	-	20%	straight-line method
Computer equipment	-	20%	straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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Valk Welding Ireland Limited

Notes to the financial statements

For the year ended 31 December 2025

2.Accounting policies (continued)

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.8

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.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

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.

2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 6 (2024 - 4).

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		Valk Welding Ireland Limited

Notes to the financial statements For the year ended 31 December 2025

Tangible fixed assets

	Leasehold improvements	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 January 2025	19,340	26,730	147,385	14,686	1,079	209,220
Additions	3,620	-	47,995	2,315	-	53,930
At 31 December 2025	22,960	26,730	195,380	17,001	1,079	263,150
Depreciation
At 1 January 2025	5,288	8,511	38,798	3,673	324	56,594
Charge for the year	4,095	5,346	33,877	3,246	216	46,780
At 31 December 2025	9,383	13,857	72,675	6,919	540	103,374
Net book value
At 31 December 2025	13,577	12,873	122,705	10,082	539	159,776
At 31 December 2024	14,052	18,219	108,587	11,013	755	152,626

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Valk Welding Ireland Limited

Notes to the financial statements

For the year ended 31 December 2025

5.	Debtors
		2025	2024
		£	£

Due after more than one year
Other debtors	15,000	15,000
	15,000	15,000

					2025	2024
					£	£

Due within one year
Trade debtors	58,050	87,233
Other debtors	2,441	4,130
Prepayments and accrued income	20,927	3,125
	81,418	94,488

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	83,183	46,250
	83,183	46,250

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	1,334	1,027
Amounts owed to group undertakings	256,221	255,613
Corporation tax	12,201	727
Other creditors	4,202	2,986
Accruals and deferred income	11,599	11,600
	285,557	271,953

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Valk Welding Ireland Limited

Notes to the financial statements

For the year ended 31 December 2025

8.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(9,271)	(3,076)
Charged to profit or loss	3,847	(6,195)
At end of year	(5,424)	(9,271)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(5,424)	(9,271)
		(5,424)	(9,271)

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £27,726 (2024 - £17,938). Contributions totalling £4,202 (2024 - £2,985) were payable to the fund at the balance sheet date and are included in creditors.

Not later than 1 year	31,628	31,008
Later than 1 year and not later than 5 years	43,085	74,713
	74,713	105,721

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Valk Welding Ireland Limited

Notes to the financial statements

For the year ended 31 December 2025

12.	Ultimate parent undertaking

Valk Holding B.V, a company established in the Netherlands, registered at Staalindustrieweg 15, 2952AT, Alblasserdam, controls 100% of the Company's equity share capital and is the ultimate parent company.

13.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 2 September 2026 by Adrian Patton (Senior statutory auditor) on behalf of Sumer Auditco NI Ltd.

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