IRIS Accounts Production v24.2.0.383 05520322 director 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055203222022-07-31055203222023-07-31055203222022-08-012023-07-31055203222021-07-31055203222021-08-012022-07-31055203222022-07-3105520322ns15:EnglandWales2022-08-012023-07-3105520322ns14:PoundSterling2022-08-012023-07-3105520322ns10:Director12022-08-012023-07-3105520322ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3105520322ns10:SmallEntities2022-08-012023-07-3105520322ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3105520322ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3105520322ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3105520322ns10:FullAccounts2022-08-012023-07-3105520322ns10:RegisteredOffice2022-08-012023-07-3105520322ns5:CurrentFinancialInstruments2023-07-3105520322ns5:CurrentFinancialInstruments2022-07-3105520322ns5:Non-currentFinancialInstruments2023-07-3105520322ns5:Non-currentFinancialInstruments2022-07-3105520322ns5:ShareCapital2023-07-3105520322ns5:ShareCapital2022-07-3105520322ns5:FurtherSpecificReserve3ComponentTotalEquity2023-07-3105520322ns5:FurtherSpecificReserve3ComponentTotalEquity2022-07-3105520322ns5:RetainedEarningsAccumulatedLosses2023-07-3105520322ns5:RetainedEarningsAccumulatedLosses2022-07-3105520322ns5:LandBuildings2022-07-3105520322ns5:LeaseholdImprovements2022-07-3105520322ns5:PlantMachinery2022-07-3105520322ns5:LandBuildings2022-08-012023-07-3105520322ns5:LeaseholdImprovements2022-08-012023-07-3105520322ns5:PlantMachinery2022-08-012023-07-3105520322ns5:LandBuildings2023-07-3105520322ns5:LeaseholdImprovements2023-07-3105520322ns5:PlantMachinery2023-07-3105520322ns5:LandBuildings2022-07-3105520322ns5:LeaseholdImprovements2022-07-3105520322ns5:PlantMachinery2022-07-3105520322ns5:FurnitureFittings2022-07-3105520322ns5:MotorVehicles2022-07-3105520322ns5:FurnitureFittings2022-08-012023-07-3105520322ns5:MotorVehicles2022-08-012023-07-3105520322ns5:FurnitureFittings2023-07-3105520322ns5:MotorVehicles2023-07-3105520322ns5:FurnitureFittings2022-07-3105520322ns5:MotorVehicles2022-07-3105520322ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-07-3105520322ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-08-012023-07-3105520322ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-3105520322ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-07-3105520322ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3105520322ns5:WithinOneYearns5:CurrentFinancialInstruments2022-07-3105520322ns5:Secured2023-07-3105520322ns5:Secured2022-07-31
REGISTERED NUMBER: 05520322 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

A1 STEEL BUILDINGS LIMITED

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A1 STEEL BUILDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: D Bierton





REGISTERED OFFICE: Old Station Yard
Egmanton Road
Tuxford
Nottinghamshire
NG22 0NR





REGISTERED NUMBER: 05520322 (England and Wales)

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 894,841 373,160

CURRENT ASSETS
Stocks 75,000 82,000
Debtors 6 14,707 14,196
Cash at bank and in hand 20,907 75,880
110,614 172,076
CREDITORS
Amounts falling due within one year 7 85,959 106,510
NET CURRENT ASSETS 24,655 65,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

919,496

438,726

CREDITORS
Amounts falling due after more than one
year

8

(159,011

)

(175,055

)

PROVISIONS FOR LIABILITIES (141,636 ) (25,726 )
NET ASSETS 618,849 237,945

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 532,090 -
Retained earnings 86,659 237,845
SHAREHOLDERS' FUNDS 618,849 237,945

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

BALANCE SHEET - continued
31 JULY 2023


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 director and authorised for issue on 28 October 2024 and were signed by:





D Bierton - Director


A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

A1 Steel Buildings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
No significant judgements have had to be made by the directors in preparing these financial statements.

REVENUE
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable in respect od sales of steel buildings and associated works, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- The Company has transferred the significant risks and rewards of ownership to the buyer;
- The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- The amount of turnover can be measured reliably;
- It is probable that the Company will receive the consideration due under the transaction; and
- The costs incurred or to be incurred in respect of the transaction can be measured reliably.

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their estimated residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:
Freehold property - 2%
Plant and machinery - 20%
Fixtures and fittings - 10%
Computer equipment - 10%
Motor vehicles - 25%

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing thee proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

STOCK AND WORK IN PROGRESS
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase of each respective building held. Materials cost is based on the cost of purchase using the first in, first out basis. Work in progress and finished goods are stated at cost price and include labour. Costs include all direct costs in bringing the stock or work in progress to its present condition. Losses on building sales are recognised as soon as they are identified.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

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.

OPERATING LEASES
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 August 2022 275,000 36,363 191,232
Additions - - 1,950
Disposals - - -
Revaluations 475,000 - -
At 31 July 2023 750,000 36,363 193,182
DEPRECIATION
At 1 August 2022 60,500 10,302 89,996
Charge for year - 1,061 30,635
Eliminated on disposal - - -
Revaluation adjustments (60,500 ) - -
At 31 July 2023 - 11,363 120,631
NET BOOK VALUE
At 31 July 2023 750,000 25,000 72,551
At 31 July 2022 214,500 26,061 101,236

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 16,096 54,135 572,826
Additions - 25,800 27,750
Disposals - (15,740 ) (15,740 )
Revaluations - - 475,000
At 31 July 2023 16,096 64,195 1,059,836
DEPRECIATION
At 1 August 2022 8,624 30,244 199,666
Charge for year 1,133 8,740 41,569
Eliminated on disposal - (15,740 ) (15,740 )
Revaluation adjustments - - (60,500 )
At 31 July 2023 9,757 23,244 164,995
NET BOOK VALUE
At 31 July 2023 6,339 40,951 894,841
At 31 July 2022 7,472 23,891 373,160

Cost or valuation at 31 July 2023 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2023 475,000 - -
Cost 275,000 36,363 193,182
750,000 36,363 193,182

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2023 - - 475,000
Cost 16,096 64,195 584,836
16,096 64,195 1,059,836

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS - continued

If the Freehold Building had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 275,000 -
Aggregate depreciation 55,000 -

The freehold yard and building were valued on an open market value basis on 22 June 2023 by Fisher German .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 August 2022
and 31 July 2023 42,000
DEPRECIATION
At 1 August 2022 2,800
Charge for year 8,400
At 31 July 2023 11,200
NET BOOK VALUE
At 31 July 2023 30,800
At 31 July 2022 39,200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,659 -
Other debtors 7,048 14,196
14,707 14,196

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,567 8,279
Hire purchase contracts 7,056 7,056
Trade creditors 27,215 15,039
Taxation and social security 14,056 43,031
Other creditors 29,065 33,105
85,959 106,510

A1 STEEL BUILDINGS LIMITED (REGISTERED NUMBER: 05520322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 137,843 146,831
Hire purchase contracts 21,168 28,224
159,011 175,055

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 99,340 109,750

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 146,410 155,110
Hire purchase contracts 28,224 35,280
174,634 190,390

The bank loans and overdraft are secured by a first charge over the freehold property and a debenture over the remaining assets of the company.

Hire purchase assets are secured against the financed asset.

10. RESERVES
Fair
value
reserve
£   
Unrealised gain on revaluation 532,090

At 31 July 2023 532,090

11. CONTROLLING PARTY

The controlling party is D Bierton.