2023-06-012024-05-312024-05-31false13379201DP STEEL 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DP STEEL LIMITED

Registered Number
13379201
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

DP STEEL LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

J Dinsdale
A Platt

Company Secretary

PLATT, Anthony

Registered Address

59 Preston Road
Longridge
Preston
PR3 3AY

Registered Number

13379201 (England and Wales)
DP STEEL LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets419,95619,559
19,95619,559
Current assets
Debtors558,57978,227
Cash at bank and on hand22,5791,510
81,15879,737
Creditors amounts falling due within one year6(66,130)(71,819)
Net current assets (liabilities)15,0287,918
Total assets less current liabilities34,98427,477
Provisions for liabilities8(4,989)(4,901)
Net assets29,99522,576
Capital and reserves
Profit and loss account29,99522,576
Shareholders' funds29,99522,576
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
A Platt
Director
J Dinsdale
Director

Registered Company No. 13379201
DP STEEL LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 231,74920,97319122,913
Additions1,800-6412,441
At 31 May 243,54920,97383225,354
Depreciation and impairment
At 01 June 237652,541483,354
Charge for year6961,1521962,044
At 31 May 241,4613,6932445,398
Net book value
At 31 May 242,08817,28058819,956
At 31 May 2398418,43214319,559
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,44824,394
Other debtors49,41153,415
Prepayments and accrued income720418
Total58,57978,227
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables55359
Taxation and social security24,51016,918
Finance lease and HP contracts11,92716,029
Other creditors28,34038,813
Accrued liabilities and deferred income800-
Total66,13071,819
Director's loan accounts are repayable on demand and bear no interest
7.Obligations under finance leases
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,9894,901
Total4,9894,901