Mansfield Steel Services Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 04638645

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		821,682		377,057

			821,682		377,057
CURRENT ASSETS
Stocks	5	23,197		36,218
Debtors	6	299,138		260,002
Cash at bank and in hand		173,001		175,509

		495,336		471,729
Creditors: Amounts Falling Due Within One Year	7	(390,351 )		(310,308 )

NET CURRENT ASSETS (LIABILITIES)			104,985		161,421

TOTAL ASSETS LESS CURRENT LIABILITIES			926,667		538,478

Creditors: Amounts Falling Due After More Than One Year	8		(79,424 )		(108,857 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,820 )		(5,244 )

NET ASSETS			842,423		424,377

CAPITAL AND RESERVES
Called up share capital	9		100		100
Revaluation reserve	10		450,543		-
Profit and Loss Account			391,780		424,277

SHAREHOLDERS' FUNDS			842,423		424,377

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Mansfield Steel Services Limited

Balance Sheet (continued)

As At 31 August 2025

For the year ending 31 August 2025 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

Mr W Patman

Director

14 November 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Mansfield Steel Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04638645 . The registered office is 5 Woodside Avenue, Mansfield, Nottinghamshire, NG18 4RQ.

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 longer depreciated
Leasehold	No longer depreciated
Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	20% and 33% reducing balance

It was agreed that, with the land and property being revalued during the year, than no future depreciation be applied to this asset.

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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

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.

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Mansfield Steel Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 10)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost or Valuation
As at 1 September 2024	397,110	68,956	23,938	15,823
Additions	-	-	-	-
Revaluation	402,890	-	-	-

As at 31 August 2025	800,000	68,956	23,938	15,823

Depreciation
As at 1 September 2024	47,653	56,998	19,712	8,551
Provided during the period	-	2,393	1,056	1,456
On revaluations	(47,653 )	-	-	-

As at 31 August 2025	-	59,391	20,768	10,007

Net Book Value
As at 31 August 2025	800,000	9,565	3,170	5,816

As at 1 September 2024	349,457	11,958	4,226	7,272


	Computer Equipment	Total
	£	£
Cost or Valuation
As at 1 September 2024	11,770	517,597
Additions	330	330
Revaluation	-	402,890

As at 31 August 2025	12,100	920,817

Depreciation
As at 1 September 2024	7,626	140,540
Provided during the period	1,343	6,248
On revaluations	-	(47,653 )

As at 31 August 2025	8,969	99,135

Net Book Value
As at 31 August 2025	3,131	821,682

As at 1 September 2024	4,144	377,057

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

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Mansfield Steel Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

Cost or valuation as at 31 August 2025 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
At cost	-	68,956	23,938	15,823
At valuation	800,000	-	-	-

	800,000	68,956	23,938	15,823


	Computer Equipment	Total
	£	£
At cost	12,100	120,817
At valuation	-	800,000

	12,100	920,817

The land and property was revalued during the year to it's market value of £800,000. This required a revaluation adjustment of £450,543. The revaluation was provided by a professional surveyor.

5. Stocks

	2025	2024
	£	£
Stock	19,148	20,253
Work in progress	4,049	15,965

	23,197	36,218

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	297,724	252,506
Prepayments and accrued income	1,414	1,414
PAYE and NIC control	-	6,082

	299,138	260,002

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	166,484	183,509
Bank loans and overdrafts	37,263	37,263
Corporation tax	64,501	56,174
PAYE and NIC control	13,220	-
VAT	75,149	25,510
Pension control account	81	-

...CONTINUED

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Mansfield Steel Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

Accruals and deferred income	1,980	1,980
Directors' loan accounts	27,103	-
Credit card	4,570	5,872

	390,351	310,308

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

	2025	2024
	£	£
Bank loans	79,424	108,857

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Reserves

	Revaluation Reserve
	£
Surplus on revaluation	450,543

As at 31 August 2025	450,543

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