Registered number
NI045930
Blane Steel Services Limited
Report and Unaudited Accounts
31 March 2023
Blane Steel Services Limited
Company Information
Directors
Mr Joseph Gallen (deceased)
Accountants
Tyrone Accountancy Services
8-10 Church Street
Omagh
Co. Tyrone
BT78 1DG
Bankers
Bank of Ireland
23-25 Campsie Road
Omagh
Co Tyrone
BT79 0AE
Registered office
9 Garvaghblane Road
Castlederg
Co Tyrone
BT81 7UY
Registered number
NI045930
Blane Steel Services Limited
Registered number: NI045930
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 14,216 18,956
Current assets
Debtors 5 20,229 32,864
Cash at bank and in hand 226,881 205,177
247,110 238,041
Creditors: amounts falling due within one year 6 (45,338) (41,010)
Net current assets 201,772 197,031
Total assets less current liabilities 215,988 215,987
Creditors: amounts falling due after more than one year 7 (21,839) (21,708)
Provisions for liabilities 8 (2,701) (3,602)
Net assets 191,448 190,677
Capital and reserves
Called up, issued and fully paid share capital 1 1
Profit and loss account 191,447 190,676
Shareholders' funds 10 191,448 190,677
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006.
The notes on pages 6 to 9 form an integral part of the accounts.
Mr Eugene Browne
Executor
Approved by the board on 27 November 2023
Blane Steel Services Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The financial statements are presented in UK Sterling pounds (£)
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 106,808
At 31 March 2023 106,808
Amortisation
At 1 April 2022 106,808
At 31 March 2023 106,808
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 185,454
At 31 March 2023 185,454
Depreciation
At 1 April 2022 166,498
Charge for the year 4,740
At 31 March 2023 171,238
Net book value
At 31 March 2023 14,216
At 31 March 2022 18,956
5 Debtors 2023 2022
£ £
Trade debtors 20,229 20,229
Other debtors - 12,635
20,229 32,864
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,625 3,693
Taxes and social security costs 38,687 35,292
Other creditors 1,026 2,025
45,338 41,010
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,839 21,708
8 Provision for liabilities
Deferred Taxation
£
At 1 April 2022 3,602
Charged to the profit and loss (901)
At 31 March 2023 2,701
The provision for deferred taxation is made up as follows:
2023 2022
£ £
Accelerated capital allowances 901 747
901 747
9 Directors' advances, credits and guarantees
There were no transactions with the directors during the year. The balance owed to the directors remained at £524.

The balances are interest free and repayable on demand.
10 Statement of changes in equity
The shareholders funds represents cumulative profits or losses, net of dividends paid, deferred tax adjustments and other adjustments.
11 Other information
Blane Steel Services Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
9 Garvaghblane Road
Castlederg
Co Tyrone
BT81 7UY
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