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REGISTERED NUMBER: 10672055 (England and Wales)















CRUSHER MANGANESE STEELS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






CRUSHER MANGANESE STEELS LIMITED (REGISTERED NUMBER: 10672055)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


CRUSHER MANGANESE STEELS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: D I Sydenham
Mrs E H Sydenham
M T Weare
C I Sydenham
R A H Gill



REGISTERED OFFICE: 1 Vulcan Way
Coalville
LE67 3AP



REGISTERED NUMBER: 10672055 (England and Wales)



SENIOR STATUTORY AUDITOR: Michael Argyle BSc ACA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

CRUSHER MANGANESE STEELS LIMITED (REGISTERED NUMBER: 10672055)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 13,081,104 10,172,039

CURRENT ASSETS
Debtors 5 293,192 138,258
Cash at bank 758,556 1,915,147
1,051,748 2,053,405
CREDITORS
Amounts falling due within one year 6 2,961,549 2,867,462
NET CURRENT LIABILITIES (1,909,801 ) (814,057 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,171,303 9,357,982

CREDITORS
Amounts falling due after more than one year 7 (2,542,651 ) (1,420,582 )

PROVISIONS FOR LIABILITIES (364,656 ) (341,383 )
NET ASSETS 8,263,996 7,596,017

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Share premium 5,449,407 5,449,407
Retained earnings 2,813,589 2,145,610
SHAREHOLDERS' FUNDS 8,263,996 7,596,017

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 12 October 2023 and were signed on its behalf by:




M T Weare - Director



R A H Gill - Director


CRUSHER MANGANESE STEELS LIMITED (REGISTERED NUMBER: 10672055)

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

1. STATUTORY INFORMATION

Crusher Manganese Steels 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.

Going concern
The company has net current liabilities as at 30 April 2023.

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. A letter of support has been received from CMS Cepcor (Holdings) Limited to confirm that the intercompany creditor will not be recalled within 12 months of the accounts signing date. The company therefore continues to adopt the going concern basis in preparing its financial statement despite net current liabilities.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - Straight line over 15 years

Property, plant and equipment is 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

CRUSHER MANGANESE STEELS LIMITED (REGISTERED NUMBER: 10672055)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to
property property Totals
£    £    £   
COST
At 1 May 2022 10,929,103 - 10,929,103
Additions 3,028,446 108,561 3,137,007
At 30 April 2023 13,957,549 108,561 14,066,110
DEPRECIATION
At 1 May 2022 757,064 - 757,064
Charge for year 226,736 1,206 227,942
At 30 April 2023 983,800 1,206 985,006
NET BOOK VALUE
At 30 April 2023 12,973,749 107,355 13,081,104
At 30 April 2022 10,172,039 - 10,172,039

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 27,776 2,258
Prepayments 265,416 136,000
293,192 138,258

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 360,000 240,000
Trade creditors - 13,547
Amounts owed to group undertakings 2,500,000 2,500,000
Corporation tax 101,549 113,915
2,961,549 2,867,462

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 1,300,582 240,000
Bank loans - 2-5 years 1,242,069 1,180,582
2,542,651 1,420,582

CRUSHER MANGANESE STEELS LIMITED (REGISTERED NUMBER: 10672055)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,902,651 1,660,582

The bank loan is secured by a legal mortgage over the freehold property known as the land on the north and north east side of Samson Road, Coalville.

9. CALLED UP SHARE CAPITAL

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

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11. ULTIMATE CONTROLLING PARTY

The company is controlled by CMS Cepcor (Holdings) Limited, a company incorporated in England and Wales. The principal place of business of CMS Cepcor (Holdings) Limited is:

1 Vulcan Way
Coalville
Leicestershire
LE67 3AP