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REGISTERED NUMBER: 00297386 (England and Wales)















The British Steel Frame Company Ltd

Unaudited Financial Statements for the Year Ended 31 January 2024






The British Steel Frame Company Ltd (Registered number: 00297386)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The British Steel Frame Company Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr T W Romyn
Mr C S Romyn
Ms L D Romyn
Mr M S Romyn





REGISTERED OFFICE: Atlantic House
8 Bell Lane
Uckfield
East Sussex
TN22 1QL





REGISTERED NUMBER: 00297386 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

The British Steel Frame Company Ltd (Registered number: 00297386)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,128,419 2,163,857
Investment property 5 3,455,000 2,060,000
5,583,419 4,223,857

CURRENT ASSETS
Debtors 6 396 -
Cash at bank 244,286 221,261
244,682 221,261
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

40,951

37,619
NET CURRENT ASSETS 203,731 183,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,787,150

4,407,499

PROVISIONS FOR LIABILITIES 746,753 353,350
NET ASSETS 5,040,397 4,054,149

CAPITAL AND RESERVES
Called up share capital 8 20,000 20,000
Fair value reserve 9 2,635,489 1,670,617
Capital redemption reserve 25,000 25,000
Retained earnings 2,359,908 2,338,532
SHAREHOLDERS' FUNDS 5,040,397 4,054,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 British Steel Frame Company Ltd (Registered number: 00297386)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:





Mr C S Romyn - Director


The British Steel Frame Company Ltd (Registered number: 00297386)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

The British Steel Frame Company Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the fair value of certain assets.

Turnover
Rents from investment properties are credited to the profit and loss account when due.

Other income
Income from fixed asset investments including dividends and interest is credited to the profit and loss account when received in the year. Bank deposit interest is credited to the profit and loss account on an accruals basis.

Investment property
Investment property is shown at fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

The investment property fair values of £3,455,000 (2023 - £2,060,000) and the gain of £1,395,000 (2023 - £24,000) included in the profit for the year were determined by Rayners Property Consultants (2023 - the directors).

Investments
Listed fixed asset investments are measured at fair value through the profit and loss account. The fair value of £2,128,419 (2023 - £2,163,857) and the loss of £119,227 (2023 - gain of £137,947) included in the profit for the year were determined by reference to the bid price at the year end date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


The British Steel Frame Company Ltd (Registered number: 00297386)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2023 2,163,857
Additions 122,534
Disposals (38,745 )
Revaluations (119,227 )
At 31 January 2024 2,128,419
NET BOOK VALUE
At 31 January 2024 2,128,419
At 31 January 2023 2,163,857

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 1,691,407 1,596,880

The British Steel Frame Company Ltd (Registered number: 00297386)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 2,062,933
Revaluations 1,395,000
At 31 January 2024 3,457,933
DEPRECIATION
At 1 February 2023
and 31 January 2024 2,933
NET BOOK VALUE
At 31 January 2024 3,455,000
At 31 January 2023 2,060,000

If investment properties had not been valued on a fair basis they would have been included at the following historical cost:

2024 2023
£ £
Cost 134,619 134,619
Aggregate depreciation (2,933 ) (2,933 )

Investment properties were valued on a fair value basis on 19 July 2023 by Rayners Commercial Property Consultants.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 396 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 27,052 23,719
Other creditors 13,899 13,900
40,951 37,619

The British Steel Frame Company Ltd (Registered number: 00297386)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary £1 20,000 20,000

9. RESERVES
Fair
value
reserve
£   
At 1 February 2023 1,670,617
Transfer of fair value gain 1,395,000
Recognition of deferred tax (430,128 )

At 31 January 2024 2,635,489

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £42,448 were paid to the directors .