Steeldeck Industries Limited
Unaudited Financial Statements
For the year ended 31 December 2022
Pages for Filing with Registrar
Company Registration No. 03036771 (England and Wales)
Steeldeck Industries Limited
Company Information
Director
P S L Parsons
Secretary
P S L Parsons
Company number
03036771
Registered office
Brentmead House
Britannia Road
London
N12 9RU
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Steeldeck Industries Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Steeldeck Industries Limited
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
100,365
107,976
Tangible assets
4
94,793
120,468
Current assets
Stock
106,504
119,375
Debtors
5
395,940
359,017
Cash at bank and in hand
1,336
47,760
503,780
526,152
Creditors: amounts falling due within one year
6
(1,448,034)
(1,357,918)
Net current liabilities
(944,254)
(831,766)
Total assets less current liabilities
(749,096)
(603,322)
Creditors: amounts falling due after more than one year
7
(47,959)
(78,316)
Net liabilities
(797,055)
(681,638)
Capital and reserves
Called up share capital
8
250,000
250,000
Profit and loss reserves
(1,047,055)
(931,638)
Total equity
(797,055)
(681,638)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Steeldeck Industries Limited
Balance Sheet (Continued)
As at 31 December 2022
Page 2
The financial statements were approved by the board of directors and authorised for issue on 2 February 2024 and are signed on its behalf by:
P S L Parsons
Director
Company Registration No. 03036771
Steeldeck Industries Limited
Notes to the Financial Statements
For the year ended 31 December 2022
Page 3
1
Accounting policies
Company information

Steeldeck Industries Limited is a private company limited by shares incorporated in England and Wales. The registered office is Brentmead House, Britannia Road, London, N12 9RU.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities of £true797,005 (2021: £681,638). However, this includes debtor balances of £279,524 (2021: £222,633) due from related parties which is anticipated to be recoverable, creditors balances of £726,139 (2021: £679,344) due to related parties and a directors loan account creditor balance of £244,538 (2021: £145,239). If there were delays in recovering the debtor balances the directors believe that the company would still be able to meet its liabilities as they fall due.

 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months after the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for the sale of goods and the provision of services net of VAT.

1.4
Patents

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10 years straight line
Plant and machinery
20% reducing balance
Motor vehicles
3 years straight line
1.6
Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

Steeldeck Industries Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
Page 4
1.7
Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

1.8
Financial instruments

All of the company's financial assets and liabilities are basic and measured at amortised cost.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

1.12
Foreign currency translation

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2021: 2).

Steeldeck Industries Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 5
3
Intangible fixed assets
Patents
£
Cost
At 1 January 2022
235,107
Additions
8,483
At 31 December 2022
243,590
Amortisation
At 1 January 2022
127,131
Amortisation charged for the year
16,094
At 31 December 2022
143,225
Carrying amount
At 31 December 2022
100,365
At 31 December 2021
107,976
4
Tangible fixed assets
Leasehold Improvements
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
40,594
323,027
363,621
Additions
-
0
50
50
At 31 December 2022
40,594
323,077
363,671
Depreciation
At 1 January 2022
11,897
231,256
243,153
Depreciation charged in the year
4,059
21,666
25,725
At 31 December 2022
15,956
252,922
268,878
Carrying amount
At 31 December 2022
24,638
70,155
94,793
At 31 December 2021
28,697
91,771
120,468
Steeldeck Industries Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
4
Tangible fixed assets
(Continued)
Page 6

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £13,337 (2021 - £15,396) for the year.

2022
2021
£
£
Plant and machinery
41,408
54,745
41,408
54,745
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
200,203
199,572
Other debtors
169,403
137,202
Prepayments and accrued income
26,334
22,243
395,940
359,017
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
186,142
622,199
Taxation and social security
124,733
44,472
Other creditors
1,058,127
613,959
Accruals and deferred income
79,032
77,288
1,448,034
1,357,918

Included within other creditors at the balance sheet date is £137 (2021: £955) of unpaid pension contributions.

7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
47,959
78,316

The long term loan is unsecured with a loan term of 6 years commencing June 2020 and is repayable in instalments after the first 12 months.

Steeldeck Industries Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 7
8
Called up share capital
2022
2021
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
250,000
250,000
9
Related party transactions

Included in creditors at the year end is £317,907 (2021: £294,861) due from Nivoflex Limited, a company related by virtue of common control.

 

Wages costs of £296,051 (2021: £382,969) have been recharged by Nivoflex Limited during the year. Also wages costs of £nil (2021: £16,000) have been recharged to Nivoflex Limited during the year.

 

Included in creditors at the year end is £44,734 (2021: debtor of £27,366) due from Steeldeck Hall Stage Limited, a company related by virtue of common control.

 

Admin costs of £nil (2021: £90,110) have been recharged to Steeldeck Hall Stage Limited during the year.

 

Included in debtors at the year end is £2,254 (2021: creditor of £136,610) due to Steeldeck Rentals Limited, a company related by virtue of common control.

 

Admin costs of £nil (2021: £2,495) have been recharged by Steeldeck Rentals Limited during the year.

 

Sales of £nil (2021: £117,979) have been charged to Steeldeck Rentals Limited during the year.

 

Included in creditors at the year end is £363,498 (2021: £nil) due from Steeldeck Enterprises Limited, a company related by virtue of common control.

 

Included in debtors at the year end is £125,366 (2021: £nil) due to Steeldeck Enterprises Limited, a company related by virtue of common control.

2022-12-312022-01-01false02 February 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityP S L ParsonsL Finn Co LimitedP S L Parsons030367712022-01-012022-12-3103036771bus:ChairmanChiefExecutive2022-01-012022-12-3103036771bus:CompanySecretary12022-01-012022-12-3103036771bus:Director12022-01-012022-12-3103036771bus:Director22022-01-012022-12-3103036771bus:RegisteredOffice2022-01-012022-12-31030367712022-12-31030367712021-12-3103036771core:IntangibleAssetsOtherThanGoodwill2022-12-3103036771core:IntangibleAssetsOtherThanGoodwill2021-12-3103036771core:LandBuildings2022-12-3103036771core:OtherPropertyPlantEquipment2022-12-3103036771core:LandBuildings2021-12-3103036771core:OtherPropertyPlantEquipment2021-12-3103036771core:Non-currentFinancialInstruments2022-12-3103036771core:Non-currentFinancialInstruments2021-12-3103036771core:CurrentFinancialInstruments2022-12-3103036771core:CurrentFinancialInstruments2021-12-3103036771core:ShareCapital2022-12-3103036771core:ShareCapital2021-12-3103036771core:RetainedEarningsAccumulatedLosses2022-12-3103036771core:RetainedEarningsAccumulatedLosses2021-12-3103036771core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3103036771core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2022-01-012022-12-3103036771core:PlantMachinery2022-01-012022-12-3103036771core:MotorVehicles2022-01-012022-12-3103036771core:IntangibleAssetsOtherThanGoodwill2021-12-3103036771core:LandBuildings2021-12-3103036771core:OtherPropertyPlantEquipment2021-12-31030367712021-12-3103036771core:LandBuildings2022-01-012022-12-3103036771core:OtherPropertyPlantEquipment2022-01-012022-12-3103036771bus:PrivateLimitedCompanyLtd2022-01-012022-12-3103036771bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3103036771bus:FRS1022022-01-012022-12-3103036771bus:AuditExemptWithAccountantsReport2022-01-012022-12-3103036771bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP