Structural Steelwork Limited

	Page
Company Information	1
Strategic Report	2
Directors' Report	3—4
Independent Auditor's Report	5—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Statement of Cash Flows	12
Notes to the Financial Statements	13—19

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Strategic Report

For The Year Ended 31 January 2026

Strategic Report

The directors present their strategic report for the year ended 31 January 2026.

Review of the Business

The results of the financial position of the company are shown in the annexed financial statements. The directors consider that the company has returned to pre-pandemic trading levels.

Principal Risks and Uncertainties

The company is exposed to risks and uncertainties which could impact its financial performance. The directors apply their considerable experience in the trade to balance risk against business opportunities.

The company is exposed to market and price risk due to steel prices which have continued to increase throughout the year. The company has increased loans to assist in the short term, however there is no immediate issue with liquidity.

There are no other material exposure of the company relating to credit risk, foreign exchange risk and cash flow risk which are material for the assessment of the assets, liabilities, and financial performance of the company.

Key Performance indicators

The company uses KPI's to monitor and measure performance. These include monitoring of sales, EBITDA and profit before tax as well as more detailed KPI's such as sales margins and service standards.

Turnover has increased this year by 6.87% from £12.40M to £13.25M but generated a profit after tax of £54k compared to a profit of £330k last year. Net assets have increased from £1.78M to £1.80M

On behalf of the board

Mr A Micklewright

Director

28 October 2026

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Structural Steelwork Limited

Company No. 07123920

Directors' Report For The Year Ended 31 January 2026

Directors' Report

The directors present their report and the financial statements for the year ended 31 January 2026.

Principal Activity

The company's principal activity continues to be that of steel febrication and erection.

Dividends

The value of dividends paid amounted to £30,000 .

The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year were as follows:

Mr A Micklewright

Mr S Micklewright

Ms L Micklewright

Mr M P Tipper

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Structural Steelwork Limited

Directors' Report (continued)

For The Year Ended 31 January 2026

Independent Auditors

The auditors, M.T.Manley & Co Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr A Micklewright

Director

28 October 2026

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Independent Auditor's Report

to the Members of

Structural Steelwork Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Structural Steelwork Limited for the year ended 31 January 2026 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

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Independent Auditor's Report (continued)

to the Members of

Structural Steelwork Limited

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We design our procedures so as to obtain sufficient appropriate audit evidence that the financial statements are not materially misstated due to non-compliance with laws and regulations or due to fraud or error.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations - this responsibility lies with management with the oversight of the Directors.

Based on our understanding of the company and industry and discussions with management we identified financial reporting standards and Companies Act 2006 as having a direct effect on the amounts and disclosures in the financial statements.

As part of the engagement team discussion about how and where the company's financial statements may be materially misstated due to fraud, we did not identify any areas with an increased risk of fraud.

Our audit procedures included:-

enquiry of management about the company's policies, procedures and related controls regarding compliance with laws and regulations and if there are any known instances of non-compliance
examining supporting documents for all material balances, transactions and disclosures
review of the Board of directors minutes
enquiry of management and review and inspection of relevant correspondence with any legal firms
evaluation of the selection and application of accounting policies related to subjective measurements and complex transactions
analytical procedures to identify any unusual or unexpected relationships
testing the appropriateness of journal entries recorded in the general ledger and other adjustments made in the preparation of the financial statements
review of accounting estimates for biases

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Graham Collins (Senior Statutory Auditor)

for and on behalf of M.T.Manley & Co Limited , Statutory Auditor

28 October 2026

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Structural Steelwork Limited

Profit and Loss Account

For The Year Ended 31 January 2026

Profit and Loss Account

		2026	2025
	Notes	£	£
TURNOVER	3	13,254,087	12,401,557
Cost of sales		(9,389,906 )	(8,294,594 )

GROSS PROFIT		3,864,181	4,106,963

Administrative expenses		(3,749,157 )	(3,674,718 )
Other operating income		4,000	4,000

OPERATING PROFIT	5	119,024	436,245
Other interest receivable and similar income	10	9,554	9,280
Interest payable and similar charges	11	(85,678 )	(121,706 )

PROFIT BEFORE TAXATION		42,900	323,819
Tax on Profit		11,841	6,758

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		54,741	330,577

The notes on pages 12 to 19 form part of these financial statements.

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Structural Steelwork Limited

Statement of Comprehensive Income

For The Year Ended 31 January 2026

Statement of Comprehensive Income

	2026	2025
	£	£
PROFIT FOR THE FINANCIAL YEAR	54,741	330,577
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	54,741	330,577

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Structural Steelwork Limited

Balance Sheet

As At 31 January 2026

Balance Sheet

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		776,956		1,035,043

			776,956		1,035,043
CURRENT ASSETS
Stocks	13	956,531		542,965
Debtors	14	1,908,393		2,959,013
Cash at bank and in hand		517,369		1,206,087

		3,382,293		4,708,065
Creditors: Amounts Falling Due Within One Year	15	(1,974,077 )		(3,236,841 )

NET CURRENT ASSETS (LIABILITIES)			1,408,216		1,471,224

TOTAL ASSETS LESS CURRENT LIABILITIES			2,185,172		2,506,267

Creditors: Amounts Falling Due After More Than One Year	16		(186,512 )		(485,363 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	19		(194,239 )		(241,224 )

NET ASSETS			1,804,421		1,779,680

CAPITAL AND RESERVES
Called up share capital	21		500		500
Revaluation reserve			75,015		75,015
Profit and Loss Account			1,728,906		1,704,165

SHAREHOLDERS' FUNDS			1,804,421		1,779,680

On behalf of the board

Mr A Micklewright

Director

28 October 2026

The notes on pages 12 to 19 form part of these financial statements.

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Structural Steelwork Limited

Statement of Changes in Equity

For The Year Ended 31 January 2026

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Profit and Loss Account	Total
	£	£	£	£
As at 1 February 2024	500	75,015	1,673,588	1,749,103
Profit for the year and total comprehensive income	-	-	330,577	330,577

Dividends paid	-	-	(300,000)	(300,000)

As at 31 January 2025 and 1 February 2025	500	75,015	1,704,165	1,779,680


Profit for the year and total comprehensive income	-	-	54,741	54,741

Dividends paid	-	-	(30,000)	(30,000)

As at 31 January 2026	500	75,015	1,728,906	1,804,421

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Structural Steelwork Limited

Statement of Cash Flows

For The Year Ended 31 January 2026

Statement of Cash Flows

		2026	2025
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(324,405 )	477,106
Interest paid		(67,211 )	(100,308 )
Tax refunded/(paid)		163,955	(65,499 )
Interest element of hire purchase payments paid		(18,466)	(21,398)

Net cash (used in)/generated from operating activities		(246,127 )	289,901

Cash flows from investing activities
Purchase of tangible assets		-	(565,372 )
Proceeds from disposal of tangible assets		(15,250 )	57,445
Grants received		4,000	4,000
Interest received		9,554	9,280

Net cash used in investing activities		(1,696 )	(494,647 )

Cash flows from financing activities
Equity dividends paid		(30,000 )	(300,000 )
Repayment of bank borrowings		(279,222 )	(287,278 )
Proceeds from new other loans		-	193,716
Repayment of finance leases		(131,673 )	(166,621 )
Amount withdrawn by directors		-	(10,640)

Net cash used in financing activities		(440,895 )	(570,823 )



Decrease in cash and cash equivalents		(688,718 )	(775,569 )
Cash and cash equivalents at beginning of year	2	1,206,087	1,981,656

Cash and cash equivalents at end of year	2	517,369	1,206,087

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Structural Steelwork Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 January 2026

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2026	2025
	£	£
Profit for the financial year	54,741	330,577
Adjustments for:
Tax on profit	(11,841 )	(6,758 )
Interest expense	85,678	121,706
Interest income	(9,554 )	(9,280 )
Depreciation of tangible assets	258,087	197,417
Loss/(profit) on disposal of tangible assets	15,250	(22,973)
Grant income	(4,000)	(4,000)
Movements in working capital:
Increase in stocks	(413,566 )	(410,894 )
Decrease in trade and other debtors	1,050,620	20,905
(Decrease)/increase in trade and other creditors	(1,349,820 )	260,406

Net cash (used in)/generated from operations	(324,405 )	477,106

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2026	2025
	£	£
Cash at bank and in hand	517,369	1,206,087

3. Analysis of changes in net funds

	As at 1 February 2025	Cash flows	As at 31 January 2026
	£	£	£
Cash at bank and in hand	1,206,087	(688,718)	517,369
Finance leases	(268,822)	131,673	(137,149)
Debts falling due within one year	(271,827 )	67,159	(204,668 )
Debts falling due after more than one year	(348,214)	212,063	(136,151)

	317,224	(277,823)	39,401

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Structural Steelwork Limited

Notes to the Financial Statements

For The Year Ended 31 January 2026

Notes to the Financial Statements

1. General Information

Structural Steelwork Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07123920 . The registered office is Unit 33 Thornleigh Trading Estate, Blowers Green, Dudley, DY2 8UB.

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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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.

2.4. 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:

Leasehold	10% on reducing balance
Plant & Machinery	10% on cost
Motor Vehicles	25% on cost

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Structural Steelwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.6. 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 is determined using the first-in, first-out method. 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.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

2.9. 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.

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.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Structural Steelwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.11. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Turnover

Turnover is recognised at the fair value of consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goodshave passed to the buyer (usually when the customer has signed for delivery), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Contract revenue is recognised when the work has been completed and certified according to the terms of the

contract.

4. Other Operating Income

	2026	2025
	£	£
Grant income	4,000	4,000

	4,000	4,000

5. Operating Profit

The operating profit is stated after charging:

	2026	2025
	£	£
Bad debts	-	9,135
Depreciation of tangible fixed assets	258,087	197,417

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2026	2025
	£	£
Audit Services
Audit of the company's financial statements	10,000	15,500

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Structural Steelwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2026	2025
	£	£
Wages and salaries	2,973,083	2,752,005
Social security costs	385,624	298,280
Other pension costs	64,113	151,565

	3,422,820	3,201,850

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2026	2025
Directors	4	4
Prodution and Administration	67	54

	71	58

9. Directors' remuneration

	2026	2025
	£	£
Emoluments	382,002	382,002
Company contributions to money purchase pension schemes	12,432	105,232

	394,434	487,234

Information regarding the highest paid director was as follows:

	2026	2025
	£	£
Emoluments	105,975	105,975
Company contributions to money purchase pension schemes	1,276	-

	107,251	105,975

10. Interest Receivable and Similar Income

	2026	2025
	£	£
Bank interest receivable	9,554	9,280

11. Interest Payable and Similar Charges

	2026	2025
	£	£
Bank loans and overdrafts	67,212	100,308
Finance charges payable under finance leases and hire purchase contracts	18,466	21,398

	85,678	121,706

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Structural Steelwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

12. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 February 2025	60,000	951,885	810,219	1,822,104
Disposals	-	-	(25,627 )	(25,627 )

As at 31 January 2026	60,000	951,885	784,592	1,796,477

Depreciation
As at 1 February 2025	6,000	350,582	430,479	787,061
Provided during the period	6,000	93,467	158,620	258,087
Disposals	-	-	(25,627 )	(25,627 )

As at 31 January 2026	12,000	444,049	563,472	1,019,521

Net Book Value
As at 31 January 2026	48,000	507,836	221,120	776,956

As at 1 February 2025	54,000	601,303	379,740	1,035,043

13. Stocks

	2026	2025
	£	£
Stock	168,450	114,323
Work in progress	788,081	428,642

	956,531	542,965

14. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	1,767,945	2,692,805
Other debtors	140,448	266,208

	1,908,393	2,959,013

Page 17

Page 18

Structural Steelwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

15. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	86,788	131,673
Trade creditors	1,307,873	1,881,414
Bank loans and overdrafts	204,668	271,827
Amounts owed to group undertakings	146,700	175,700
Other creditors	47,365	252,611
Corporation tax	67,480	(131,620 )
Taxation and social security	67,008	69,841
Accruals and deferred income	46,195	585,395

	1,974,077	3,236,841

16. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	50,361	137,149
Bank loans	136,151	348,214

	186,512	485,363

17. Loans

An analysis of the maturity of loans is given below:

	2026	2025
	£	£
Amounts falling due within one year or on demand:
Bank loans	204,668	271,827

	2026	2025
	£	£
Amounts falling due between one and five years:
Bank loans	136,151	348,214

18. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	86,788	131,673
Later than one year and not later than five years	50,361	137,149

	137,149	268,822

	137,149	268,822

Page 18

Page 19

Structural Steelwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

19. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Accelerated capital allowances	194,239	258,761
Tax losses carried forward	-	(17,537 )

	194,239	241,224

20. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 February 2025	241,224	241,224
Utilised	(46,985 )	(46,985)

Balance at 31 January 2026	194,239	194,239

21. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
500 Ordinary A shares of £ 1.00 each	500	500

22. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £64,113 (2025: £151,565).

At the balance sheet date contributions of £17,894 were due to the fund and are included in creditors.

23. Dividends

	2026	2025
	£	£
On equity shares:
Final dividend paid	30,000	300,000

Page 19

Directors	Mr A Micklewright
	Mr S Micklewright
	Ms L Micklewright
	Mr M P Tipper

Company Number	07123920

Registered Office	Unit 33 Thornleigh Trading Estate
	Blowers Green
	Dudley
	DY2 8UB

Accountants	Hayward Wright
	4 Clews Road
	Redditch
	Worcestershire
	B98 7ST