Alliance Steel Services Limited 07419529 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is design, fabrication and erection of structural steelwork. Digita Accounts Production Advanced 6.30.9574.0 true 07419529 2023-04-01 2024-03-31 07419529 2024-03-31 07419529 bus:Director2 1 2024-03-31 07419529 core:CurrentFinancialInstruments 2024-03-31 07419529 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07419529 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07419529 core:LandBuildings 2024-03-31 07419529 core:MotorVehicles 2024-03-31 07419529 core:OtherPropertyPlantEquipment 2024-03-31 07419529 bus:SmallEntities 2023-04-01 2024-03-31 07419529 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07419529 bus:FilletedAccounts 2023-04-01 2024-03-31 07419529 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07419529 bus:RegisteredOffice 2023-04-01 2024-03-31 07419529 bus:Director1 2023-04-01 2024-03-31 07419529 bus:Director2 2023-04-01 2024-03-31 07419529 bus:Director2 1 2023-04-01 2024-03-31 07419529 bus:Director3 2023-04-01 2024-03-31 07419529 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07419529 core:LandBuildings 2023-04-01 2024-03-31 07419529 core:MotorVehicles 2023-04-01 2024-03-31 07419529 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 07419529 core:PlantMachinery 2023-04-01 2024-03-31 07419529 countries:AllCountries 2023-04-01 2024-03-31 07419529 2023-03-31 07419529 bus:Director2 1 2023-03-31 07419529 core:LandBuildings 2023-03-31 07419529 core:MotorVehicles 2023-03-31 07419529 core:OtherPropertyPlantEquipment 2023-03-31 07419529 2022-04-01 2023-03-31 07419529 2023-03-31 07419529 bus:Director2 1 2023-03-31 07419529 core:CurrentFinancialInstruments 2023-03-31 07419529 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07419529 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07419529 core:LandBuildings 2023-03-31 07419529 core:MotorVehicles 2023-03-31 07419529 core:OtherPropertyPlantEquipment 2023-03-31 07419529 bus:Director2 1 2022-04-01 2023-03-31 07419529 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 07419529

Alliance Steel Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Alliance Steel Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Alliance Steel Services Limited

Company Information

Directors

Mr J H Rushby

Mr D Rushby

Mr N Rushby

Registered office

Unit 6a
Bontoft Avenue
HULL
HU5 4HF

 

Alliance Steel Services Limited

(Registration number: 07419529)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

117,087

85,331

 

117,087

85,331

Current assets

 

Stocks

5

42,992

25,202

Debtors

6

500,177

351,624

Cash at bank and in hand

 

100,708

24,919

 

643,877

401,745

Creditors: Amounts falling due within one year

7

(326,450)

(204,270)

Net current assets

 

317,427

197,475

Total assets less current liabilities

 

434,514

282,806

Creditors: Amounts falling due after more than one year

7

(29,564)

-

Provisions for liabilities

(26,659)

(17,032)

Net assets

 

378,291

265,774

Capital and reserves

 

Called up share capital

68,001

68,001

Revaluation reserve

13,247

13,247

Retained earnings

297,043

184,526

Shareholders' funds

 

378,291

265,774

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

 

Alliance Steel Services Limited

(Registration number: 07419529)
Balance Sheet as at 31 March 2024

.........................................
Mr N Rushby
Director

 

Alliance Steel Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 6a
Bontoft Avenue
HULL
HU5 4HF
England

These financial statements were authorised for issue by the Board on 17 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Alliance Steel Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold land and buildings

Over the lease term

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Alliance Steel Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Alliance Steel Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 16).

 

Alliance Steel Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

6,980

85,695

136,671

229,346

Additions

-

42,768

15,500

58,268

At 31 March 2024

6,980

128,463

152,171

287,614

Depreciation

At 1 April 2023

4,659

38,272

101,084

144,015

Charge for the year

387

16,259

9,866

26,512

At 31 March 2024

5,046

54,531

110,950

170,527

Carrying amount

At 31 March 2024

1,934

73,932

41,221

117,087

At 31 March 2023

2,321

47,422

35,588

85,331

Included within the net book value of land and buildings above is £1,934 (2023 - £2,321) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Work in progress

37,042

19,252

Other inventories

5,950

5,950

42,992

25,202

6

Debtors

Current

2024
£

2023
£

Trade debtors

461,851

265,811

Prepayments

21,322

510

Other debtors

17,004

85,303

 

500,177

351,624

 

Alliance Steel Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9,938

-

Trade creditors

 

229,052

164,107

Taxation and social security

 

35,990

18,223

Accruals and deferred income

 

35,215

21,790

Other creditors

 

16,255

150

 

326,450

204,270

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

29,564

-

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £229,573 (2023 - £122,856).

9

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr D Rushby

Mr D Rushby

9,339

(9,339)

-

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Mr D Rushby

Mr D Rushby

-

9,339

9,339