Company Registration No. 12470549 (England and Wales)
STEEL CITY INTERACTIVE LTD
Unaudited accounts
for the year ended 31 March 2023
STEEL CITY INTERACTIVE LTD
Unaudited accounts
Contents
STEEL CITY INTERACTIVE LTD
Company Information
for the year ended 31 March 2023
Directors
Arshid Habib
Gavin Harrison
Birgir Ragnarsson
Frank Sagnier
Company Number
12470549 (England and Wales)
Registered Office
FORGE HOUSE
21 CARBROOK HALL ROAD
SHEFFIELD
S9 2EH
ENGLAND
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
STEEL CITY INTERACTIVE LTD
Statement of financial position
as at 31 March 2023
Intangible assets
13,888,623
2,796,091
Tangible assets
143,959
83,219
Cash at bank and in hand
1,064,323
350,263
Creditors: amounts falling due within one year
438,862
(1,613,932)
Net current assets/(liabilities)
5,146,112
(1,139,161)
Total assets less current liabilities
19,178,694
1,740,149
Creditors: amounts falling due after more than one year
(7,116,419)
(1,568,219)
Net assets
12,062,275
171,930
Called up share capital
1
1
Share premium
9,674,049
625,000
Profit and loss account
2,388,225
(453,071)
Shareholders' funds
12,062,275
171,930
For the year ending 31 March 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by
Arshid Habib
Director
Company Registration No. 12470549
STEEL CITY INTERACTIVE LTD
Notes to the Accounts
for the year ended 31 March 2023
STEEL CITY INTERACTIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 12470549. The registered office is FORGE HOUSE, 21 CARBROOK HALL ROAD, SHEFFIELD, S9 2EH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Intangible fixed assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are not considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Expenditure on research and development is capitalised in the year in which it is incurred.
STEEL CITY INTERACTIVE LTD
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Other
At 31 March 2023
13,888,623
At 31 March 2023
13,888,623
At 31 March 2022
2,796,091
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
36,268
70,791
107,059
Additions
22,862
66,027
88,889
At 31 March 2023
59,130
136,818
195,948
At 1 April 2022
10,326
13,514
23,840
Charge for the year
9,327
18,822
28,149
At 31 March 2023
19,653
32,336
51,989
At 31 March 2023
39,477
104,482
143,959
At 31 March 2022
25,942
57,277
83,219
Amounts falling due within one year
Deferred tax asset
744,496
-
Accrued income and prepayments
1,748,063
55,066
Other debtors
601,715
25,973
STEEL CITY INTERACTIVE LTD
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,648
894,318
Trade creditors
114,095
128,437
Taxes and social security
(678,151)
31,761
Other creditors
7,330
25,166
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
7,090,604
1,531,755
9
Average number of employees
During the year the average number of employees was 33 (2022: 29).