Filleted

Registration number: 06076342

Steel Fabricators (Wales) Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

Steel Fabricators (Wales) Ltd

Company Information

Director

Mr G Davies

Company secretary

Ms T J Tarman

Registered office

Llys Deri Parc Pensarn Carmarthen SA31 2NF

Steel Fabricators (Wales) Ltd

(Registration number: 06076342)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	135,496	101,362
Current assets
Stocks	6	79,325	112,012
Debtors	7	145,563	89,300
Cash at bank and in hand		7,885	3,806
		232,773	205,118
Creditors: Amounts falling due within one year	8	(219,491)	(209,238)
Net current assets/(liabilities)		13,282	(4,120)
Total assets less current liabilities		148,778	97,242
Creditors: Amounts falling due after more than one year	8	(29,948)	(20,252)
Net assets		118,830	76,990
Capital and reserves
Called up share capital		100	100
Profit and loss account		118,730	76,890
Total equity		118,830	76,990

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.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Steel Fabricators (Wales) Ltd

(Registration number: 06076342)
Balance Sheet as at 31 January 2026

Approved and authorised by the director on 16 October 2026
 

......................................... Mr G Davies Director

Steel Fabricators (Wales) Ltd

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

1	General information

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

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
2 Forest Lane
Llangybi
Lampeter
SA48 8LZ

These financial statements were authorised for issue by the director on 16 October 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 using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

Steel Fabricators (Wales) Ltd

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

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.

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 & Machinery	15% Reducing Balance
Motor Vehicles	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.

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.

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.

Steel Fabricators (Wales) Ltd

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

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 the director) during the year, was 4 (2025 - 4).

Steel Fabricators (Wales) Ltd

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

4	Profit before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	23,936	18,594

5	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2025	225,217	2,036	42,350	269,603
Additions	44,032	-	14,037	58,069
At 31 January 2026	269,249	2,036	56,387	327,672
Depreciation
At 1 February 2025	137,059	719	30,463	168,241
Charge for the year	18,215	329	5,391	23,935
At 31 January 2026	155,274	1,048	35,854	192,176
Carrying amount
At 31 January 2026	113,975	988	20,533	135,496
At 31 January 2025	88,158	1,317	11,887	101,362

6

Stocks

	2026 £	2025 £
Work in progress	44,325	63,512
Other inventories	35,000	48,500
	79,325	112,012

7

Debtors

	2026 £	2025 £
Trade debtors	139,591	80,428
Prepayments	5,972	5,489
Other debtors	-	3,383
	145,563	89,300

Steel Fabricators (Wales) Ltd

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

8

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Bank loans and overdrafts	10	33,315	41,884
Trade creditors		101,200	95,347
Taxation and social security		20,255	2,623
Other related parties		42,464	40,649
Outstanding defined contribution pension costs		6	124
Other creditors		22,251	28,611
		219,491	209,238