Registered number
07536232
PSF STEEL LIMITED
Unaudited Filleted Accounts
31 March 2024
PSF STEEL LIMITED
Registered number: 07536232
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,913 2,551
Current assets
Debtors 4 610,826 882,201
Cash at bank and in hand 579,684 421,502
1,190,510 1,303,703
Creditors: amounts falling due within one year 5 (276,816) (583,431)
Net current assets 913,694 720,272
Total assets less current liabilities 915,607 722,823
Provisions for liabilities (500) (500)
Net assets 915,107 722,323
Capital and reserves
Called up share capital 90 90
Profit and loss account 915,017 722,233
Shareholders' funds 915,107 722,323
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R M Shadforth
Director
Approved by the board on 17 September 2024
PSF STEEL LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less accumulated depreciation, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 4,812
At 31 March 2024 4,812
Depreciation
At 1 April 2023 2,261
Charge for the year 638
At 31 March 2024 2,899
Net book value
At 31 March 2024 1,913
At 31 March 2023 2,551
4 Debtors 2024 2023
£ £
Trade debtors 435,046 691,146
Other debtors 175,780 191,055
610,826 882,201
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 218,478 497,720
Taxation and social security costs 54,522 82,109
Other creditors 3,816 3,602
276,816 583,431
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A P Chambers
Interest free loan with no repayment terms - 81,289 - 81,289
- 81,289 - 81,289
7 Controlling party
At 31 March 2024 the parent undertaking was 2R Investments Limited, a company registered in England and Wales and there was no controlling party.

On 1 May 2024 2R Investments Limited became a wholly owned subsidiary of Corp Bidco 241 Limited, a company registered in England and Wales.

The ultimate parent company is Orange UK Holdings Limited, registered in England and Wales at CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW.

The smallest group in which the result of the company will be consolidated is that headed by CorpAcq Limited. The largest group in which the result of the company wil be consolidated is that headed by Orange UK Holdings Limited. The consolidated financial statements of both are available to the public and may be obtained from CorpAcq Limited at CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW.

The directors consider that by virtue of his shareholding in the ultimate parent company, the ultimate controlling party is Mr S Orange.
8 Other information
PSF STEEL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
The Gate House,
Fernhurst Business Park
Fernhurst
Haslemere Surrey
GU27 3HB
The company's business address is Unit 6 Newhouse Business Centre, Old Crawley Road, Faygate, Horsham, RH12 4RU.
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