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REGISTERED NUMBER: 02484231 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2023

FOR

EX-PRESSED STEEL PANELS LIMITED

EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EX-PRESSED STEEL PANELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MAY 2023







DIRECTORS: Mrs L Coates
A G Coates
L Hartley





REGISTERED OFFICE: Ickornshaw Mill
Cowling
Keighley
BD22 0DB





REGISTERED NUMBER: 02484231 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Suite 1, Aireside House
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)

BALANCE SHEET
30 MAY 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 206,829 212,560

CURRENT ASSETS
Stocks 5 282,689 202,326
Debtors 6 12,798 48,581
Investments 7 72,500 72,500
Other debtors 224,020 224,020
Cash at bank and in hand 37,720 15,658
629,727 563,085
CREDITORS
Amounts falling due within one year 8 (135,162 ) (110,397 )
NET CURRENT ASSETS 494,565 452,688
TOTAL ASSETS LESS CURRENT
LIABILITIES

701,394

665,248

CREDITORS
Amounts falling due after more than
one year

9

(28,048

)

(10,488

)

PROVISIONS FOR LIABILITIES (10,514 ) (9,007 )
NET ASSETS 662,832 645,753

EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)

BALANCE SHEET - continued
30 MAY 2023

2023 2022
Notes £ £
CAPITAL AND RESERVES
Called up share capital 11 4,000 4,000
Retained earnings 658,832 641,753
SHAREHOLDERS' FUNDS 662,832 645,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2023 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.

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 Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:




Mrs L Coates - Director



A G Coates - Director


EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2023

1. STATUTORY INFORMATION

Ex-pressed Steel Panels 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost and over the unexpired term of the lease
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

GOVERNMENT GRANTS
Government grants are recognised at the fair value of the assets received or receivable when there
is reasonable assurance that the company will comply with conditions attaching to them and the
grants will be received using the accrual model.

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


EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2023

2. ACCOUNTING POLICIES - continued
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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

INVESTMENTS
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Investments in joint ventures / associates are measured at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 31 May 2022 181,735 202,661 384,396
Additions - 36,795 36,795
Disposals - (18,860 ) (18,860 )
At 30 May 2023 181,735 220,596 402,331
DEPRECIATION
At 31 May 2022 36,109 135,727 171,836
Charge for year 8,442 23,476 31,918
Eliminated on disposal - (8,252 ) (8,252 )
At 30 May 2023 44,551 150,951 195,502
NET BOOK VALUE
At 30 May 2023 137,184 69,645 206,829
At 30 May 2022 145,626 66,934 212,560

5. STOCKS
2023 2022
£ £
Stocks 282,689 202,326

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 7,640 43,171
Other debtors 5,158 5,410
12,798 48,581

EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2023

7. CURRENT ASSET INVESTMENTS

Other Investments:-
The company owns the following shareholdings:

2019 2018
£ £
2,500 £1 Ordinary Shares 2,500 2,500,
14,000 £5 Cumulative 12.5% Preference Shares 70,000 70,000
72,500 72,500

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 16,203 7,643
Hire purchase contracts (see note 10) 10,125 2,464
Trade creditors 76,719 70,547
Taxation and social security 29,633 26,990
Other creditors 2,482 2,753
135,162 110,397

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 10) 28,048 10,488

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 10,125 2,464
Between one and five years 28,048 10,488
38,173 12,952

EX-PRESSED STEEL PANELS LIMITED (REGISTERED NUMBER: 02484231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2023

10. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2023 2022
£ £
Within one year 28,000 28,000
Between one and five years 112,000 112,000
In more than five years 86,334 114,334
226,334 254,334

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
4,000 Ordinary £1 4,000 4,000

12. RELATED PARTY DISCLOSURES

During the year a management recharge of £21,000 (2022 - £20,000) was paid to Mr L Hartley, a director.