SWUK Steel Decking Limited 07523398 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of metal deck floor fixers and studwelders in the construction industry Digita Accounts Production Advanced 6.30.9574.0 true 07523398 2022-04-01 2023-03-31 07523398 2023-03-31 07523398 core:RetainedEarningsAccumulatedLosses 2023-03-31 07523398 core:ShareCapital 2023-03-31 07523398 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07523398 core:FurnitureFittingsToolsEquipment 2023-03-31 07523398 core:LandBuildings 2023-03-31 07523398 core:MotorVehicles 2023-03-31 07523398 core:OtherPropertyPlantEquipment 2023-03-31 07523398 bus:SmallEntities 2022-04-01 2023-03-31 07523398 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07523398 bus:FullAccounts 2022-04-01 2023-03-31 07523398 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07523398 bus:RegisteredOffice 2022-04-01 2023-03-31 07523398 bus:Director2 2022-04-01 2023-03-31 07523398 bus:Director4 2022-04-01 2023-03-31 07523398 bus:Director6 2022-04-01 2023-03-31 07523398 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07523398 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 07523398 core:LandBuildings 2022-04-01 2023-03-31 07523398 core:MotorCars 2022-04-01 2023-03-31 07523398 core:MotorVehicles 2022-04-01 2023-03-31 07523398 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 07523398 core:PlantMachinery 2022-04-01 2023-03-31 07523398 countries:England 2022-04-01 2023-03-31 07523398 2022-03-31 07523398 core:FurnitureFittingsToolsEquipment 2022-03-31 07523398 core:LandBuildings 2022-03-31 07523398 core:MotorVehicles 2022-03-31 07523398 core:OtherPropertyPlantEquipment 2022-03-31 07523398 2021-04-01 2022-03-31 07523398 2022-03-31 07523398 core:RetainedEarningsAccumulatedLosses 2022-03-31 07523398 core:ShareCapital 2022-03-31 07523398 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07523398 core:FurnitureFittingsToolsEquipment 2022-03-31 07523398 core:LandBuildings 2022-03-31 07523398 core:MotorVehicles 2022-03-31 07523398 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 07523398

SWUK Steel Decking Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

SWUK Steel Decking Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

SWUK Steel Decking Limited

Company Information

Directors

S J Robotham

J Connell

C I Bowyer

Registered office

51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

SWUK Steel Decking Limited

(Registration number: 07523398)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

491,603

542,228

Current assets

 

Stocks

183,319

53,911

Debtors

5

1,246,057

1,967,454

Cash at bank and in hand

 

333,097

277,871

 

1,762,473

2,299,236

Creditors: Amounts falling due within one year

6

(421,889)

(862,547)

Net current assets

 

1,340,584

1,436,689

Total assets less current liabilities

 

1,832,187

1,978,917

Provisions for liabilities

(96,221)

(72,760)

Net assets

 

1,735,966

1,906,157

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

1,735,866

1,906,057

 

1,735,966

1,906,157

Total equity

 

1,735,966

1,906,157

 

SWUK Steel Decking Limited

(Registration number: 07523398)
Balance Sheet as at 31 March 2023 (continued)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 8 November 2023 and signed on its behalf by:
 

.........................................
J Connell
Director

 

SWUK Steel Decking Limited

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

1

General information

The company is a private company limited by share capital incorporated in England registration number: 07523398.

The address of its registered office is:
51 St John Street
Ashbourne
Derbyshire
DE6 1GP
England

These financial statements were authorised for issue by the Board on 8 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

SWUK Steel Decking Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Government grants

Government grants received are only recognised when there is reasonable assurance that the entity will comply with the conditions attached to them and the grants will be received. Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

SWUK Steel Decking Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

not depreciated/improvements to property 4 years straight line basis/2% straight line basis

Plant and machinery

15% reducing balance basis

Motor vehicles

15% reducing balance basis

Furniture, fittings and equipment

15% reducing balance / 33% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

SWUK Steel Decking Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 67 (2022 - 70).

 

SWUK Steel Decking Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

186,528

29,554

97,268

720,521

1,033,871

Additions

-

2,655

-

69,465

72,120

Disposals

-

-

(11,995)

(20,829)

(32,824)

At 31 March 2023

186,528

32,209

85,273

769,157

1,073,167

Depreciation

At 1 April 2022

102,258

23,877

30,189

335,319

491,643

Charge for the year

32,901

3,693

9,500

59,358

105,452

Eliminated on disposal

-

-

(8,246)

(7,285)

(15,531)

At 31 March 2023

135,159

27,570

31,443

387,392

581,564

Carrying amount

At 31 March 2023

51,369

4,639

53,830

381,765

491,603

At 31 March 2022

84,270

5,677

67,079

385,202

542,228

 

SWUK Steel Decking Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

4

Tangible assets (continued)

Included within the net book value of land and buildings above is £51,369 (2022 - £84,270) in respect of short leasehold land and buildings.
 

 

SWUK Steel Decking Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

5

Debtors

2023
£

2022
£

Trade debtors

1,115,504

1,776,798

Prepayments

56,363

64,139

Other debtors

74,190

126,517

1,246,057

1,967,454

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

242,718

493,414

Taxation and social security

110,719

258,401

Accruals and deferred income

24,313

56,480

Other creditors

44,139

54,252

421,889

862,547

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £297,940 (2022 - £396,821).