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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
Page
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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
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STEEL CITY INTERACTIVE LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
13,888,623 
2,796,091 
Tangible assets
143,959 
83,219 
14,032,582 
2,879,310 
Current assets
Inventories
- 
4,327 
Debtors
3,642,927 
120,181 
Cash at bank and in hand
1,064,323 
350,263 
4,707,250 
474,771 
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 
Capital and reserves
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
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STEEL CITY INTERACTIVE LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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
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.
Research and development
Expenditure on research and development is capitalised in the year in which it is incurred.
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STEEL CITY INTERACTIVE LTD Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2022
2,796,091 
Additions
11,092,532 
At 31 March 2023
13,888,623 
Amortisation
At 1 April 2022
- 
At 31 March 2023
- 
Net book value
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 
Depreciation
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 
Net book value
At 31 March 2023
39,477 
104,482 
143,959 
At 31 March 2022
25,942 
57,277 
83,219 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
61,829 
38,843 
Trade debtors
486,824 
299 
Deferred tax asset
744,496 
Accrued income and prepayments
1,748,063 
55,066 
Other debtors
601,715 
25,973 
3,642,927 
120,181 
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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 
Accruals
107,216 
3,000 
Deferred income
- 
531,250 
(438,862)
1,613,932 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
25,815 
36,464 
Other creditors
7,090,604 
1,531,755 
7,116,419 
1,568,219 
9
Average number of employees
During the year the average number of employees was 33 (2022: 29).
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