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REGISTERED NUMBER: 05731619 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Steel Tool Solutions Limited

Steel Tool Solutions Limited (Registered number: 05731619)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


Steel Tool Solutions Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D J Blewitt
M Chisholm
A Lodge
N Taylor





REGISTERED OFFICE: Unit 3i Plymouth Road
West Chirton Industrial Estate South
North Shields
Tyne and Wear
NE29 7TY





REGISTERED NUMBER: 05731619 (England and Wales)

Steel Tool Solutions Limited (Registered number: 05731619)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,052 48,614

CURRENT ASSETS
Stocks 1,350 1,300
Debtors 5 55,767 117,918
Prepayments and accrued income 4,633 2,639
Cash at bank and in hand 66,673 133,613
128,423 255,470
CREDITORS
Amounts falling due within one year 6 112,727 132,306
NET CURRENT ASSETS 15,696 123,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,748

171,778

CREDITORS
Amounts falling due after more than
one year

7

(11,869

)

(25,651

)

ACCRUALS AND DEFERRED INCOME (2,895 ) (51,525 )
NET ASSETS 42,984 94,602

CAPITAL AND RESERVES
Called up share capital 124 124
Capital redemption reserve 1 1
Retained earnings 42,859 94,477
SHAREHOLDERS' FUNDS 42,984 94,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Tool Solutions Limited (Registered number: 05731619)

Balance Sheet - continued
31 March 2024


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 17 October 2024 and were signed on its behalf by:





D J Blewitt - Director


Steel Tool Solutions Limited (Registered number: 05731619)

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

1. STATUTORY INFORMATION

Steel Tool Solutions 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 etc - 20% on reducing balance, 15% on reducing balance and 10% 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2023 - 7 ) .

Steel Tool Solutions Limited (Registered number: 05731619)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 208,170
Additions 2,593
At 31 March 2024 210,763
DEPRECIATION
At 1 April 2023 159,556
Charge for year 9,155
At 31 March 2024 168,711
NET BOOK VALUE
At 31 March 2024 42,052
At 31 March 2023 48,614

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 49,535 112,719
Other debtors 6,232 5,199
55,767 117,918

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 13,667 13,885
Trade creditors 10,347 22,246
Taxation and social security 78,443 88,917
Other creditors 10,270 7,258
112,727 132,306

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,869 25,651

8. FINANCIAL INSTRUMENTS

Financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.