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REGISTERED NUMBER: 02602211 (England and Wales)















S & S STEELSTOCK LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






S & S STEELSTOCK LIMITED (REGISTERED NUMBER: 02602211)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S & S STEELSTOCK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: B A Collins
C P Downs
J D Elwell





REGISTERED OFFICE: S9 / S10 West Midlands House
Gipsy Lane
Willenhall
West Midlands
WV13 2HA





REGISTERED NUMBER: 02602211 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

S & S STEELSTOCK LIMITED (REGISTERED NUMBER: 02602211)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 48 7,950

CURRENT ASSETS
Inventories 397,190 1,457,910
Debtors 5 2,656,310 3,878,401
Cash at bank 257,118 192,021
3,310,618 5,528,332
CREDITORS
Amounts falling due within one year 6 (2,043,114 ) (3,990,366 )
NET CURRENT ASSETS 1,267,504 1,537,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,267,552

1,545,916

PROVISIONS FOR LIABILITIES - (613 )
NET ASSETS 1,267,552 1,545,303

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,267,451 1,545,202
SHAREHOLDERS' FUNDS 1,267,552 1,545,303

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

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

S & S STEELSTOCK LIMITED (REGISTERED NUMBER: 02602211)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by:





C P Downs - Director


S & S STEELSTOCK LIMITED (REGISTERED NUMBER: 02602211)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

S & S Steelstock Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02602211 and the registered office is S9/S10 West Midlands House, Gipsy Lane, Willenhall, West Midlands, WV13 2HA.

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.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
The directors do not consider that there are any judgements or estimates which are critical to the financial statements.

Revenue
Revenue comprises the aggregate of the fair value of the sale of goods and services provided, net of value-added tax, rebates and discounts. Revenue is recognised as follows:-

Sale of goods are recognised when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly stated.

Service revenues are recognised as those services are provided to customers.

Property plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

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

Net realisable value is estimated selling price less costs to complete and sell.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

S & S STEELSTOCK LIMITED (REGISTERED NUMBER: 02602211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged through the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

S & S STEELSTOCK LIMITED (REGISTERED NUMBER: 02602211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 37,665
Disposals (33,094 )
At 31 March 2024 4,571
DEPRECIATION
At 1 April 2023 29,715
Charge for year 1,297
Eliminated on disposal (26,489 )
At 31 March 2024 4,523
NET BOOK VALUE
At 31 March 2024 48
At 31 March 2023 7,950

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,844,987 2,519,063
Amounts owed by group undertakings 484,962 444,492
Other debtors 326,361 914,846
2,656,310 3,878,401

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,528,841 3,398,971
Taxation and social security 165,603 225,189
Other creditors 348,670 366,206
2,043,114 3,990,366

7. SECURED DEBTS

The company has an invoice discounting facility. Any debt is held in other creditors and is secured against all assets of the company.