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REGISTERED NUMBER: SC096913 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

FOR

FYVIE STEELS LIMITED

FYVIE STEELS LIMITED (REGISTERED NUMBER: SC096913)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

FYVIE STEELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTORS: Mrs G Paterson
I W D Paterson





SECRETARY: Mrs G Paterson





REGISTERED OFFICE: Mill of Crichie
Fyvie
Turriff
Aberdeenshire
AB53 8QL





REGISTERED NUMBER: SC096913 (Scotland)





ACCOUNTANTS: Goldwells
Acumen House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

FYVIE STEELS LIMITED (REGISTERED NUMBER: SC096913)

BALANCE SHEET
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,185 38,216
Investments 5 131,971 100,000
171,156 138,216

CURRENT ASSETS
Stocks 150,564 98,488
Debtors 6 327,608 339,881
Cash at bank and in hand 1,412,189 1,263,703
1,890,361 1,702,072
CREDITORS
Amounts falling due within one year 7 245,281 135,039
NET CURRENT ASSETS 1,645,080 1,567,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,816,236

1,705,249

PROVISIONS FOR LIABILITIES 710 -
NET ASSETS 1,815,526 1,705,249

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,815,426 1,705,149
SHAREHOLDERS' FUNDS 1,815,526 1,705,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FYVIE STEELS LIMITED (REGISTERED NUMBER: SC096913)

BALANCE SHEET - continued
31ST MARCH 2022


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd August 2022 and were signed on its behalf by:





I W D Paterson - Director


FYVIE STEELS LIMITED (REGISTERED NUMBER: SC096913)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

Fyvie Steels Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all liabilities.

FYVIE STEELS LIMITED (REGISTERED NUMBER: SC096913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st April 2021 33,756 2,600 12,390 4,008 52,754
Additions - 1,650 150 117 1,917
Disposals - - (1,004 ) (3,379 ) (4,383 )
At 31st March 2022 33,756 4,250 11,536 746 50,288
DEPRECIATION
At 1st April 2021 - 1,446 9,253 3,839 14,538
Charge for year - 380 486 42 908
Eliminated on disposal - - (964 ) (3,379 ) (4,343 )
At 31st March 2022 - 1,826 8,775 502 11,103
NET BOOK VALUE
At 31st March 2022 33,756 2,424 2,761 244 39,185
At 31st March 2021 33,756 1,154 3,137 169 38,216

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st April 2021 100,000
Revaluations 31,971
At 31st March 2022 131,971
NET BOOK VALUE
At 31st March 2022 131,971
At 31st March 2021 100,000

Cost or valuation at 31st March 2022 is represented by:

Other
investments
£   
Valuation in 2022 31,971
Cost 100,000
131,971

FYVIE STEELS LIMITED (REGISTERED NUMBER: SC096913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 162,366 170,305
Amounts owed by group undertakings 54,093 54,093
Other debtors 111,149 115,483
327,608 339,881

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 165,726 71,048
Corporation tax 36,000 19,024
Social security and other taxes 14 163
Directors' current accounts 43,541 44,783
Accrued expenses - 21
245,281 135,039

The loan to the director is interest free with no fixed terms of repayment.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FYVIE STEELS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fyvie Steels Limited for the year ended 31st March 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fyvie Steels Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fyvie Steels Limited and state those matters that we have agreed to state to the Board of Directors of Fyvie Steels Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fyvie Steels Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fyvie Steels Limited. You consider that Fyvie Steels Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fyvie Steels Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwells
Acumen House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN


2nd August 2022