REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2023 |
FOR |
EX-PRESSED STEEL PANELS LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Investments | 7 |
Other debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
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 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
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 |
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 |
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 |
Land and buildings | - |
Plant and machinery etc | - |
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 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 May 2023 |
DEPRECIATION |
At 31 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 May 2023 |
NET BOOK VALUE |
At 30 May 2023 |
At 30 May 2022 |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
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 |
Hire purchase contracts (see note 10) |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
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 |
Between one and five years |
In more than five years |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
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. |