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REGISTERED NUMBER: 10007490 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

STEALS LIMITED

STEALS LIMITED (REGISTERED NUMBER: 10007490)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEALS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: D Monk





REGISTERED OFFICE: The Old Surgery
43 Derbe Road
Lytham St Annes
Lancashire
FY8 1NJ





REGISTERED NUMBER: 10007490 (England and Wales)





ACCOUNTANTS: Keenan Chartered Accountants
The Old Surgery
43 Derbe Road
Lytham St Annes
Lancashire
FY8 1NJ

STEALS LIMITED (REGISTERED NUMBER: 10007490)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,079 8,256

CURRENT ASSETS
Stocks 22,292 58,632
Debtors 5 2,377 42,597
Cash at bank and in hand 28,847 7,362
53,516 108,591
CREDITORS
Amounts falling due within one year 6 68,687 40,990
NET CURRENT (LIABILITIES)/ASSETS (15,171 ) 67,601
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,092

)

75,857

PROVISIONS FOR LIABILITIES 2,520 1,033
NET (LIABILITIES)/ASSETS (7,612 ) 74,824

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (7,712 ) 74,724
SHAREHOLDERS' FUNDS (7,612 ) 74,824

STEALS LIMITED (REGISTERED NUMBER: 10007490)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 October 2023 and were signed by:





D Monk - Director


STEALS LIMITED (REGISTERED NUMBER: 10007490)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Steals Limited is a private company, limited by shares , registered in England and Wales. 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.

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 etc - 25% on reducing balance and 15% 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 Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

STEALS LIMITED (REGISTERED NUMBER: 10007490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Trade and other creditors are initially recognised at the transaction price and are therefore stated at amortised cost using the effective interest method unless the discounting would be immaterial, in which case they are stated at cost.

Short-term debtors are creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 458 417 8,000 8,875
Additions - 4,273 7,581 11,854
Disposals - - (8,000 ) (8,000 )
Reclassification/transfer - - 12,419 12,419
At 31 March 2023 458 4,690 20,000 25,148
DEPRECIATION
At 1 April 2022 57 62 500 619
Charge for year 101 534 3,302 3,937
Eliminated on disposal - - (1,906 ) (1,906 )
Reclassification/transfer - - 12,419 12,419
At 31 March 2023 158 596 14,315 15,069
NET BOOK VALUE
At 31 March 2023 300 4,094 5,685 10,079
At 31 March 2022 401 355 7,500 8,256

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,709 1,065
Other debtors 668 41,532
2,377 42,597

STEALS LIMITED (REGISTERED NUMBER: 10007490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 6,923
Taxation and social security 12,511 25,878
Other creditors 56,176 8,189
68,687 40,990