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TMT STEEL LIMITED

Registered Number
10797168
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

TMT STEEL LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

BUTLER, Thomas Charles

Registered Address

Fouchers Farm Glebe Gardens
Herongate
Brentwood
CM13 3PT

Registered Number

10797168 (England and Wales)
TMT STEEL LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3340,797436,714
340,797436,714
Current assets
Stocks108,16044,187
Debtors439,892446,869
Cash at bank and on hand62,49028
610,542491,084
Creditors amounts falling due within one year4(328,743)(312,862)
Net current assets (liabilities)281,799178,222
Total assets less current liabilities622,596614,936
Creditors amounts falling due after one year(334,466)(490,360)
Provisions for liabilities(66,354)(66,354)
Net assets221,77658,222
Capital and reserves
Profit and loss account221,77658,222
Shareholders' funds221,77658,222
The financial statements were approved and authorised for issue by the Director on 1 March 2024, and are signed on its behalf by:
BUTLER, Thomas Charles
Director
Registered Company No. 10797168
TMT STEEL LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Revenue from sale of goods
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.
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.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 22644,528
At 30 June 23644,528
Depreciation and impairment
At 01 July 22207,814
Charge for year95,917
At 30 June 23303,731
Net book value
At 30 June 23340,797
At 30 June 22436,714
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,6462,781
Bank borrowings and overdrafts56,47456,474
Taxation and social security180,663142,002
Other creditors88,960111,605
Total328,743312,862
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.