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Registered number: 02671275
Carrs Tool Steels Limited
Unaudited Financial Statements
For The Year Ended 31 March 2026
Goodwins
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02671275
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,575,137 2,320,423
2,575,137 2,320,423
CURRENT ASSETS
Stocks 5 555,322 549,558
Debtors 6 1,949,597 2,072,256
Cash at bank and in hand 59,469 385,005
2,564,388 3,006,819
Creditors: Amounts Falling Due Within One Year 7 (1,366,357 ) (1,573,383 )
NET CURRENT ASSETS (LIABILITIES) 1,198,031 1,433,436
TOTAL ASSETS LESS CURRENT LIABILITIES 3,773,168 3,753,859
NET ASSETS 3,773,168 3,753,859
CAPITAL AND RESERVES
Called up share capital 8 33,334 33,334
Share premium account 62,496 62,496
Revaluation reserve 9 1,471,927 1,171,927
Profit and Loss Account 2,205,411 2,486,102
SHAREHOLDERS' FUNDS 3,773,168 3,753,859
Page 1
Page 2
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Julie Shields
Director
10/07/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Carrs Tool Steels Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02671275 . The registered office is Steelbright Works, Conneygree Road, Tipton, West Midlands, DY4 8XQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Plant & Machinery 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.5. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2025: 27)
26 27
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost or Valuation
As at 1 April 2025 1,775,360 3,434,521 5,209,881
Additions - 149,000 149,000
Revaluation 300,000 - 300,000
As at 31 March 2026 2,075,360 3,583,521 5,658,881
Depreciation
As at 1 April 2025 275,360 2,614,098 2,889,458
Provided during the period - 194,286 194,286
As at 31 March 2026 275,360 2,808,384 3,083,744
Net Book Value
As at 31 March 2026 1,800,000 775,137 2,575,137
As at 1 April 2025 1,500,000 820,423 2,320,423
5. Stocks
2026 2025
£ £
Stock 555,322 549,558
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 627,196 749,083
Amounts owed by group undertakings 1,313,498 1,313,498
Other debtors 8,903 9,675
1,949,597 2,072,256
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 422,899 477,682
Bank loans and overdrafts 638,069 694,934
Other creditors 86,415 126,947
Taxation and social security 218,974 273,820
1,366,357 1,573,383
8. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 33,334 33,334
9. Reserves
Share Premium Revaluation reserve Profit and Loss Account
£ £ £
As at 1 April 2025 62,496 1,171,927 2,486,102
Profit for year - - 199,309
Surplus on revaluation - 300,000 -
Other comprehensive income for the year - 300,000 -
Total comprehensive income for the year - 300,000 199,309
Dividends paid - - (480,000)
As at 31 March 2026 62,496 1,471,927 2,205,411
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