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REGISTERED NUMBER: 07542536 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Anglia Steelcraft Limited

Anglia Steelcraft Limited (Registered number: 07542536)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Anglia Steelcraft Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: J Woodings
J L Collins





SECRETARY: J Woodings





REGISTERED OFFICE: 6 High Street
Wheathampstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 07542536 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

Anglia Steelcraft Limited (Registered number: 07542536)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 5,000
Tangible assets 5 37,409 35,230
41,409 40,230

CURRENT ASSETS
Stocks 1,600 1,850
Debtors 6 8,268 14,143
Cash at bank 44,356 25,455
54,224 41,448
CREDITORS
Amounts falling due within one year 7 77,845 74,943
NET CURRENT LIABILITIES (23,621 ) (33,495 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,788

6,735

PROVISIONS FOR LIABILITIES 8 7,100 6,700
NET ASSETS 10,688 35

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,588 (65 )
SHAREHOLDERS' FUNDS 10,688 35

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Anglia Steelcraft Limited (Registered number: 07542536)

Balance Sheet - continued
31 May 2023


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:





J Woodings - Director


Anglia Steelcraft Limited (Registered number: 07542536)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Anglia Steelcraft Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is Rivermill House, 6 High Street, Wheathampstead, Herts, AL4 8AA.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Revenue recognition
Revenue represents fair value of amounts invoiced during the year, exclusive of Value Added Tax.

In respect of contracts for on-going services, revenue represents the value of work done in the year, including estimates of amounts not invoiced. Revenue in respect of contracts for on-going services is recognised by reference to the stage of completion.

Intangible fixed assets
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 6.25% straight line.

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:


Commercial Vehicles - 25% Reducing balance
Plant and Equipment - 25% Reducing balance.

Anglia Steelcraft Limited (Registered number: 07542536)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government Grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Leasing & hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the leases term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis

Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Anglia Steelcraft Limited (Registered number: 07542536)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Dividends
Final ordinary dividends payable to shareholders of the Company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 16,000
AMORTISATION
At 1 June 2022 11,000
Amortisation for year 1,000
At 31 May 2023 12,000
NET BOOK VALUE
At 31 May 2023 4,000
At 31 May 2022 5,000

Anglia Steelcraft Limited (Registered number: 07542536)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2022 15,410 71,717 87,127
Additions - 16,790 16,790
Disposals - (15,901 ) (15,901 )
At 31 May 2023 15,410 72,606 88,016
DEPRECIATION
At 1 June 2022 11,272 40,625 51,897
Charge for year 1,035 11,435 12,470
Eliminated on disposal - (13,760 ) (13,760 )
At 31 May 2023 12,307 38,300 50,607
NET BOOK VALUE
At 31 May 2023 3,103 34,306 37,409
At 31 May 2022 4,138 31,092 35,230

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Prepayments & accrued income 8,268 14,143

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 16,110 23,386
Tax 12,819 14,295
Social security and other taxes 24,421 20,248
Directors' loan accounts 21,400 14,484
Accruals and deferred income 3,095 2,530
77,845 74,943

8. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 7,100 6,700

Anglia Steelcraft Limited (Registered number: 07542536)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 6,700
Provided during year 400
Balance at 31 May 2023 7,100

The provision for deferred taxation consists of the tax effect of timing differences in respect of excess of taxation allowances over depreciation on Fixed Assets