Registered number
04614886
Steelbarr Limited
Filleted Accounts
31 January 2024
Steelbarr Limited
Company Information
Directors
V R Martin
D Martin
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Trading address
Imperial Cars
Swindon Road Garage
Swindon Road
Cheltenham
Glos
Registered office
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered number
04614886
Steelbarr Limited
Registered number: 04614886
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Current assets
Stocks 86,156 100,427
Cash at bank and in hand 114,872 82,127
201,028 182,554
Creditors: amounts falling due within one year 4 (22,203) (20,859)
Net current assets 178,825 161,695
Total assets less current liabilities 178,825 161,695
Creditors: amounts falling due after more than one year 5 (68,569) (39,633)
Net assets 110,256 122,062
Capital and reserves
Called up share capital 30 30
Profit and loss account 110,226 122,032
Shareholders' funds 110,256 122,062
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.
V R Martin D Martin
Director
Approved by the board on 20 February 2024
Steelbarr Limited
Notes to the Accounts
for the year ended 31 January 2024
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 (as applied to small entities by section 1A of the standard).
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% straight line
Fixtures and fittings 25% straight line
Computer equipment 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 1 February 2023 5,031 9,063 1,201 15,295
At 31 January 2024 5,031 9,063 1,201 15,295
Depreciation
At 1 February 2023 5,031 9,063 1,201 15,295
At 31 January 2024 5,031 9,063 1,201 15,295
Net book value
At 31 January 2024 - - - -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,920 -
Taxation and social security costs 11,283 14,859
Other creditors 6,000 6,000
22,203 20,859
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,232 39,633
Directors loans 53,337 -
68,569 39,633
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 16,500 16,500
7 Controlling party
The company is controlled by V R Martin.
8 Other information
Steelbarr Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
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