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REGISTERED NUMBER: 02520747 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ACASTER STEEL LIMITED

ACASTER STEEL LIMITED (REGISTERED NUMBER: 02520747)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACASTER STEEL LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: P J Dodsworth
Mrs B Dodsworth





SECRETARY: P J Dodsworth





REGISTERED OFFICE: Units 4-4a Moor Lane Ind Estate
Tholthorpe
York
YO61 1SR





REGISTERED NUMBER: 02520747 (England and Wales)





ACCOUNTANTS: Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ

ACASTER STEEL LIMITED (REGISTERED NUMBER: 02520747)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 595,099 522,818

CURRENT ASSETS
Stocks 452,090 620,675
Debtors 5 303,298 343,802
Cash at bank and in hand 17,837 25,640
773,225 990,117
CREDITORS
Amounts falling due within one year 6 539,601 670,016
NET CURRENT ASSETS 233,624 320,101
TOTAL ASSETS LESS CURRENT
LIABILITIES

828,723

842,919

CREDITORS
Amounts falling due after more than one
year

7

(101,368

)

(130,625

)

PROVISIONS FOR LIABILITIES (27,144 ) (8,810 )
NET ASSETS 700,211 703,484

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 9 170,402 170,402
Retained earnings 509,809 513,082
700,211 703,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




P J Dodsworth - Director


ACASTER STEEL LIMITED (REGISTERED NUMBER: 02520747)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Acaster Steel 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.

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
Motor vehicles - 25% on reducing balance and 10% on cost
Computer equipment - 25% 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 Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

ACASTER STEEL LIMITED (REGISTERED NUMBER: 02520747)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 470,000 54,211 5,845
Additions - - -
At 31 December 2023 470,000 54,211 5,845
DEPRECIATION
At 1 January 2023 - 49,062 5,296
Charge for year - 516 55
At 31 December 2023 - 49,578 5,351
NET BOOK VALUE
At 31 December 2023 470,000 4,633 494
At 31 December 2022 470,000 5,149 549

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 109,755 26,375 666,186
Additions 91,499 - 91,499
At 31 December 2023 201,254 26,375 757,685
DEPRECIATION
At 1 January 2023 66,527 22,483 143,368
Charge for year 17,672 975 19,218
At 31 December 2023 84,199 23,458 162,586
NET BOOK VALUE
At 31 December 2023 117,055 2,917 595,099
At 31 December 2022 43,228 3,892 522,818

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 220,053 251,479
Other debtors 83,245 92,323
303,298 343,802

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 30,074 7,500
Trade creditors 264,562 262,463
Taxation and social security 24,202 84,462
Other creditors 220,763 315,591
539,601 670,016

ACASTER STEEL LIMITED (REGISTERED NUMBER: 02520747)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 32,617 5,625
Other creditors 68,751 125,000
101,368 130,625

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 62,691 13,125
Invoice Discounting 161,701 182,969
CBILS Loan 123,750 178,750
348,142 374,844

Hire purchase contracts are secured against the assets to which they relate.

The invoice discounting facility is secured by way of a fixed and floating charge over the company's assets.

The bank loan is guaranteed by the UK Government under CBILS.

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 170,402

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
P J Dodsworth
Balance outstanding at start of year 66,209 94,389
Amounts advanced 1,463 -
Amounts repaid (5,107 ) (28,180 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,565 66,209