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REGISTERED NUMBER: 08523005 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

RICHARD BEEDLE STEEL SOLUTIONS LTD

RICHARD BEEDLE STEEL SOLUTIONS LTD (REGISTERED NUMBER: 08523005)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


RICHARD BEEDLE STEEL SOLUTIONS LTD (REGISTERED NUMBER: 08523005)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,445 1,390

CURRENT ASSETS
Debtors 5 128,410 176,811
Cash at bank and in hand 453,495 411,538
581,905 588,349
CREDITORS
Amounts falling due within one year 6 228,095 250,420
NET CURRENT ASSETS 353,810 337,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

357,255

339,319

CREDITORS
Amounts falling due after more than one
year

7

(12,500

)

(22,500

)

PROVISIONS FOR LIABILITIES (800 ) -
NET ASSETS 343,955 316,819

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 343,953 316,817
SHAREHOLDERS' FUNDS 343,955 316,819

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

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

RICHARD BEEDLE STEEL SOLUTIONS LTD (REGISTERED NUMBER: 08523005)

BALANCE SHEET - continued
31 MAY 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 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 11 October 2024 and were signed on its behalf by:





R J Beedle - Director


RICHARD BEEDLE STEEL SOLUTIONS LTD (REGISTERED NUMBER: 08523005)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Richard Beedle Steel Solutions Ltd is a private company, limited by shares, registered in England and Wales, registered number 08523005. Its registered office is Admiral House, Waterfront East, Brierley Hill, West Midlands, DY5 1XG.

The financial statements are presented in Sterling, which is the functional currency of the company.

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 - 33% on cost

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.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

RICHARD BEEDLE STEEL SOLUTIONS LTD (REGISTERED NUMBER: 08523005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 3,967
Additions 3,247
Disposals (1,415 )
At 31 May 2024 5,799
DEPRECIATION
At 1 June 2023 2,577
Charge for year 944
Eliminated on disposal (1,167 )
At 31 May 2024 2,354
NET BOOK VALUE
At 31 May 2024 3,445
At 31 May 2023 1,390

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 108,801 176,811
Other debtors 19,609 -
128,410 176,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 183,609 162,855
Tax 28,000 39,000
Social security and other taxes 101 451
VAT - 10,673
Other creditors 2,270 51
Directors' loan accounts - 26,140
Accrued expenses 4,115 1,250
228,095 250,420

RICHARD BEEDLE STEEL SOLUTIONS LTD (REGISTERED NUMBER: 08523005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 2,500 12,500
12,500 22,500

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
R J Beedle and Mrs M Beedle
Balance outstanding at start of year (26,140 ) (47,062 )
Amounts advanced 89,158 111,078
Amounts repaid (46,361 ) (90,156 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,657 (26,140 )

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £45,614 (2023 - £89,500) were paid to the directors .