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REGISTERED NUMBER: 01724433 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Spice Hawk Steel Sections Limited

Spice Hawk Steel Sections Limited (Registered number: 01724433)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spice Hawk Steel Sections Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: K C Gupta
P Gupta





SECRETARY: K C Gupta





REGISTERED OFFICE: Gupta Industrial Estate
West Bromwich Street
Oldbury
West Midlands
B69 3AP





REGISTERED NUMBER: 01724433 (England and Wales)





ACCOUNTANTS: Concept Accountancy Services Ltd
1 Market Square
High Street
Cradley Heath
West Midlands
B64 5HH

Spice Hawk Steel Sections Limited (Registered number: 01724433)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,510 87,223
Investments 5 418,621 418,621
500,131 505,844

CURRENT ASSETS
Stocks 54,445 73,014
Debtors 6 109,682 251,266
Cash at bank 1,507,519 1,507,952
1,671,646 1,832,232
CREDITORS
Amounts falling due within one year 7 539,785 705,873
NET CURRENT ASSETS 1,131,861 1,126,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,631,992

1,632,203

PROVISIONS FOR LIABILITIES 8 15,062 16,054
NET ASSETS 1,616,930 1,616,149

CAPITAL AND RESERVES
Called up share capital 150,067 150,067
Capital redemption reserve 33 33
Retained earnings 1,466,830 1,466,049
SHAREHOLDERS' FUNDS 1,616,930 1,616,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Spice Hawk Steel Sections Limited (Registered number: 01724433)

Balance Sheet - continued
30 November 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 24 July 2024 and were signed on its behalf by:




K C Gupta - Director



P Gupta - Director


Spice Hawk Steel Sections Limited (Registered number: 01724433)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Spice Hawk Steel Sections 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.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary Amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover 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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance

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

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 balance sheet date.

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.

Spice Hawk Steel Sections Limited (Registered number: 01724433)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 to profit or loss in the period to which they relate.

Financial instruments and equity instruments
The company has elected to apply the provision of section 11 'Basic Financial Instruments' and Section 12 'Other financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Spice Hawk Steel Sections Limited (Registered number: 01724433)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 826,973 51,912 25,590 904,475
Additions - 5,756 - 5,756
Disposals - (3,010 ) - (3,010 )
At 30 November 2023 826,973 54,658 25,590 907,221
DEPRECIATION
At 1 December 2022 759,186 43,248 14,818 817,252
Charge for year 6,778 1,320 2,155 10,253
Eliminated on disposal - (1,794 ) - (1,794 )
At 30 November 2023 765,964 42,774 16,973 825,711
NET BOOK VALUE
At 30 November 2023 61,009 11,884 8,617 81,510
At 30 November 2022 67,787 8,664 10,772 87,223

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 418,621
NET BOOK VALUE
At 30 November 2023 418,621
At 30 November 2022 418,621

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 62,023 201,631
Other debtors 47,659 49,635
109,682 251,266

Spice Hawk Steel Sections Limited (Registered number: 01724433)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 87,951 164,098
Taxation and social security 10,616 26,248
Other creditors 441,218 515,527
539,785 705,873

8. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 15,062 16,054

Deferred
tax
£   
Balance at 1 December 2022 16,054
Provided during year (992 )
Decrease in provision
Balance at 30 November 2023 15,062

9. RELATED PARTY DISCLOSURES

During the year, the company occupied premises owned by Leabrook Investments Ltd rent free. (2022: £Nil)

Other debtors at 30th November 2023 included £35,302 due from Willowgrove Ltd (2022: £35,302). The nature of the transactions are unsecured and interest free loans repayable on demand.

Other creditors at 30th November 2023 included £411,835 due to Leabrook Investments Ltd (2022: £411,973) and £100 due to S H Steel Sections Ltd (2022: £100). The transactions are unsecured and interest free loans repayable upon demand.

Spice Hawk Steel Sections Ltd is a majority shareholder in Leabrook Investments Ltd. S H Steel Sections Ltd is a wholly owned subsidiary of Spice Hawk Steel Sections Ltd. Willowgrove Ltd is wholly owned by Mr KC Gupta.

10. ULTIMATE CONTROLLING PARTY

The controlling party is K C Gupta.