IRIS Accounts Production v23.1.0.753 12518895 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure125188952022-03-31125188952023-03-31125188952022-04-012023-03-31125188952021-03-31125188952021-04-012022-03-31125188952022-03-3112518895ns15:EnglandWales2022-04-012023-03-3112518895ns14:PoundSterling2022-04-012023-03-3112518895ns10:Director12022-04-012023-03-3112518895ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3112518895ns10:SmallEntities2022-04-012023-03-3112518895ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3112518895ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3112518895ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3112518895ns10:FullAccounts2022-04-012023-03-3112518895ns10:RegisteredOffice2022-04-012023-03-3112518895ns5:CurrentFinancialInstruments2023-03-3112518895ns5:CurrentFinancialInstruments2022-03-3112518895ns5:ShareCapital2023-03-3112518895ns5:ShareCapital2022-03-3112518895ns5:RetainedEarningsAccumulatedLosses2023-03-3112518895ns5:RetainedEarningsAccumulatedLosses2022-03-3112518895ns5:ComputerEquipment2022-04-012023-03-3112518895ns5:ComputerEquipment2022-03-3112518895ns5:ComputerEquipment2023-03-3112518895ns5:ComputerEquipment2022-03-31
REGISTERED NUMBER: 12518895 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

STEEL MOUNTAIN LIMITED

STEEL MOUNTAIN LIMITED (REGISTERED NUMBER: 12518895)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


STEEL MOUNTAIN LIMITED

COMPANY INFORMATION
For The Year Ended 31 MARCH 2023







DIRECTOR: A S Mustafa





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 12518895 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

STEEL MOUNTAIN LIMITED (REGISTERED NUMBER: 12518895)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,787 2,555

CURRENT ASSETS
Inventories 317,025 141,350
Debtors 5 6,180 -
Cash at bank and in hand 233,876 51,805
557,081 193,155
CREDITORS
Amounts falling due within one year 6 309,299 193,495
NET CURRENT ASSETS/(LIABILITIES) 247,782 (340 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,569

2,215

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 250,469 2,115
250,569 2,215

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

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

The director acknowledges his 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 director and authorised for issue on 11 February 2024 and were signed by:





A S Mustafa - Director


STEEL MOUNTAIN LIMITED (REGISTERED NUMBER: 12518895)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Steel Mountain 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.33% on cost

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

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 statement of financial position date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

STEEL MOUNTAIN LIMITED (REGISTERED NUMBER: 12518895)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 April 2022 4,786
Additions 1,605
At 31 March 2023 6,391
DEPRECIATION
At 1 April 2022 2,231
Charge for year 1,373
At 31 March 2023 3,604
NET BOOK VALUE
At 31 March 2023 2,787
At 31 March 2022 2,555

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 6,180 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 70,925 3,369
Directors' current accounts 227,588 183,140
Accrued expenses 10,786 6,986
309,299 193,495

7. RELATED PARTY DISCLOSURES

Included in creditors, amount falling due within one year, is an amount of £227,588 (2022: £183,140) due to the director of the company. The loan is interest free.

Included in debtors, amount falling due within one year, is an amount of £6,180 (2022:Nil) due from connected companies under common directorship.