IRIS Accounts Production v24.2.0.383 03401619 Board of Directors 1.12.22 30.11.23 30.11.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034016192022-11-30034016192023-11-30034016192022-12-012023-11-30034016192021-11-30034016192021-12-012022-11-30034016192022-11-3003401619ns14:PoundSterling2022-12-012023-11-3003401619ns10:Director12022-12-012023-11-3003401619ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3003401619ns10:SmallEntities2022-12-012023-11-3003401619ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3003401619ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3003401619ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3003401619ns10:FullAccounts2022-12-012023-11-3003401619ns10:Director22022-12-012023-11-3003401619ns10:RegisteredOffice2022-12-012023-11-3003401619ns5:CurrentFinancialInstruments2023-11-3003401619ns5:CurrentFinancialInstruments2022-11-3003401619ns5:ShareCapital2023-11-3003401619ns5:ShareCapital2022-11-3003401619ns5:RetainedEarningsAccumulatedLosses2023-11-3003401619ns5:RetainedEarningsAccumulatedLosses2022-11-3003401619ns5:LandBuildings2022-11-3003401619ns5:LandBuildings2023-11-3003401619ns5:LandBuildings2022-11-3003401619ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3003401619ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-30
REGISTERED NUMBER: 03401619















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

STEEL TIE LIMITED

STEEL TIE LIMITED (REGISTERED NUMBER: 03401619)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEEL TIE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: B M Shaffer
E Shaffer





REGISTERED OFFICE: 16 Bergham Mews
Blythe Road
London
London
W14 0HN





REGISTERED NUMBER: 03401619





ACCOUNTANTS: CBHC Limited
Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH

STEEL TIE LIMITED (REGISTERED NUMBER: 03401619)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 80,000 80,000

CURRENT ASSETS
Stocks 108,180 56,390
Debtors 5 1,417,114 1,463,119
Cash at bank 76,524 141,131
1,601,818 1,660,640
CREDITORS
Amounts falling due within one year 6 (1,013,529 ) (1,174,412 )
NET CURRENT ASSETS 588,289 486,228
TOTAL ASSETS LESS CURRENT
LIABILITIES

668,289

566,228

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 668,189 566,128
SHAREHOLDERS' FUNDS 668,289 566,228

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

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

STEEL TIE LIMITED (REGISTERED NUMBER: 03401619)

BALANCE SHEET - continued
30TH 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 20th August 2024 and were signed on its behalf by:





B M Shaffer - Director


STEEL TIE LIMITED (REGISTERED NUMBER: 03401619)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023


1. STATUTORY INFORMATION

Steel Tie Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stock and Work In Progress are stated at the lower of cost and net realisable value.

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.

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.

STEEL TIE LIMITED (REGISTERED NUMBER: 03401619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1st December 2022
and 30th November 2023 80,000
NET BOOK VALUE
At 30th November 2023 80,000
At 30th November 2022 80,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 70,775 76,725
Amounts owed by group undertakings 155,001 749,138
Other debtors 1,191,338 637,256
1,417,114 1,463,119

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 8,253 61,937
Taxation and social security 27,693 5,088
Other creditors 977,583 1,107,387
1,013,529 1,174,412

7. CONTINGENT LIABILITIES

The Company is part of a Group for VAT purposes. All companies within the group are jointly and severally liable in the event of non-payment of debts by any company within the group. The Company signed an unlimited cross company guarantee on 5th January 1998 whereby the Company's bankers have right of set off of balances owed by the Parent Company.

STEEL TIE LIMITED (REGISTERED NUMBER: 03401619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


8. RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £465,279 (2022 - £588,784) to Greenbelt Limited, , £78,500 (2022 - £80,000) to Leasview Developments Limited, £422,853 (2022- £424,353) to Trinity View Homes and £4,750 (2022 - £9,050) to Priory Parking. The directors' Family have a controlling interest in these companies.

As at the balance sheet date the company was owed £158,290 (2022 - £142,109 ) by the Aldridge Estates Investment Co Limited, £16,862 (2022 - £11,493) by High House Developments Limited, was owed by Howebelt Limited £26,980 (2022 - £26,980) and £5,205 (2022 - £2,173) by Monsal Homes . The directors' family have a controlling interest in these companies.

Blackcap Limited is the companies ultimate parent company and at the balance sheet date owed the company £155,001 (2022, the company owed Blackcap Limited £749,138).

All of the company's activity is derived from related parties.

9. ULTIMATE CONTROLLING PARTY

The controlling party is B M Shaffer.