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REGISTERED NUMBER: 04933460 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PROSTEEL LIMITED

PROSTEEL LIMITED (REGISTERED NUMBER: 04933460)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROSTEEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P Kelling
Mrs T L Kelling
J Kelling





SECRETARY: Mrs T L Kelling





REGISTERED OFFICE: 61 Station Road
Sudbury
Suffolk
CO10 2SP





REGISTERED NUMBER: 04933460 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

PROSTEEL LIMITED (REGISTERED NUMBER: 04933460)

BALANCE SHEET
31 OCTOBER 2023

31.10.22 31.10.23
£    £    Notes £    £   
FIXED ASSETS
3,597 Intangible assets 4 2,398
279,023 Tangible assets 5 342,458
282,620 344,856

CURRENT ASSETS
240,000 Stocks 240,000
245,882 Debtors 6 431,169
23,511 Cash at bank 1
509,393 671,170
CREDITORS
614,830 Amounts falling due within one year 7 833,717
(105,437 ) NET CURRENT LIABILITIES (162,547 )
177,183 TOTAL ASSETS LESS CURRENT
LIABILITIES

182,309

CREDITORS
(73,740 ) Amounts falling due after more than one
year

8

(76,849

)

(53,128 ) PROVISIONS FOR LIABILITIES (73,028 )
50,315 NET ASSETS 32,432

PROSTEEL LIMITED (REGISTERED NUMBER: 04933460)

BALANCE SHEET - continued
31 OCTOBER 2023

31.10.22 31.10.23
£    £    Notes £    £   
CAPITAL AND RESERVES
10 Called up share capital 10
32,500 Revaluation reserve 31,442
17,805 Retained earnings 980
50,315 SHAREHOLDERS' FUNDS 32,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 17 April 2024 and were signed on its behalf by:





P Kelling - Director


PROSTEEL LIMITED (REGISTERED NUMBER: 04933460)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Prosteel 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing trade debtor and work in progress balances.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Website
Website costs are being amortised evenly over an estimated useful economic life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 10% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value,after making due allowance for obsolete and slow moving items.

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.


PROSTEEL LIMITED (REGISTERED NUMBER: 04933460)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals Goodwill Website
£    £    £   
COST
At 1 November 2022
and 31 October 2023 120,995 120,000 995
AMORTISATION
At 1 November 2022 117,398 117,000 398
Amortisation for year 1,199 1,000 199
At 31 October 2023 118,597 118,000 597
NET BOOK VALUE
At 31 October 2023 2,398 2,000 398
At 31 October 2022 3,597 3,000 597

5. TANGIBLE FIXED ASSETS

Included in the above are fixtures & fittings, plant & machinery, motor vehicles, computer equipment and property improvements which have been purchased under hire purchase agreements.

The net book value of these assets as at 31st October 2023 was £104,186 (2022- £85,194) and the depreciation charge for the year was £11,577 (2022 - £9,467).

PROSTEEL LIMITED (REGISTERED NUMBER: 04933460)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 October 2023 is represented by:

Improvements
to Plant and
Totals property machinery
£    £    £   
Valuation in 2017 20,937 1,383 20,383
Cost 553,413 21,574 361,736
574,350 22,957 382,119

Fixtures
and Motor Computer
fittings vehicles equipment
£    £    £   
Valuation in 2017 (685 ) 26 (170 )
Cost 7,425 143,838 18,840
6,740 143,864 18,670

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 350,323 219,518
Other debtors 80,846 26,364
431,169 245,882

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 19,564 17,863
Hire purchase contracts 28,606 31,572
Trade creditors 82,634 90,876
Taxation and social security 414,268 288,125
Other creditors 288,645 186,394
833,717 614,830

PROSTEEL LIMITED (REGISTERED NUMBER: 04933460)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 48,858 69,167
Hire purchase contracts 27,991 4,573
76,849 73,740