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Registered number: 00970970










ASHTON STEEL STOCKHOLDERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ASHTON STEEL STOCKHOLDERS LIMITED
REGISTERED NUMBER: 00970970

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
333,783
345,877

Current assets
  

Stocks
  
1,135,021
567,489

Debtors: amounts falling due within one year
 5 
933,038
1,263,785

Cash at bank and in hand
  
8,122
35,742

  
2,076,181
1,867,016

Creditors: amounts falling due within one year
 6 
(1,230,946)
(1,042,055)

Net current assets
  
 
 
845,235
 
 
824,961

Total assets less current liabilities
  
1,179,018
1,170,838

Creditors: amounts falling due after more than one year
  
-
(13,333)

Provisions for liabilities
  

Deferred tax
 7 
(1,704)
(4,817)

Net assets
  
1,177,314
1,152,688


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
110,500
112,700

Profit and loss account
  
1,066,714
1,039,888

  
1,177,314
1,152,688


Page 1

 
ASHTON STEEL STOCKHOLDERS LIMITED
REGISTERED NUMBER: 00970970
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.




P A White
A E Guest
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ASHTON STEEL STOCKHOLDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Ashton Steel Stockholders Limited is a private company limited by shares, incorporated in England and Wales (registered number: 00970970). Its registered office is Station Yard, Station Road, Hadfield, Glossop, SK13 1AA. The principal activity of the Company throughout the year continued to be that of the wholesale of metals and metal ores.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Changes in Equity when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
ASHTON STEEL STOCKHOLDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

Tax is recognised in the Statement of Changes in Equity.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


 
2.5

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 residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% Straight line
Plant and machinery
-
25% Reducing balance
Computer equipment
-
33% Straight line

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 the proceeds with the carrying amount and are recognised in the Statement of Changes in Equity.

 
2.6

Revaluation of tangible fixed assets

The company has adopted the transitional provisions of FRS102 to retain book amounts of revalued assets at their 23 November 2015 and subsequent valuation.

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the Profit and Loss reserve.

Page 4

 
ASHTON STEEL STOCKHOLDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 12).

Page 5

 
ASHTON STEEL STOCKHOLDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
350,000
316,302
8,700
675,002



At 31 December 2023

350,000
316,302
8,700
675,002



Depreciation


At 1 January 2023
24,500
295,925
8,700
329,125


Charge for the year on owned assets
7,000
5,094
-
12,094



At 31 December 2023

31,500
301,019
8,700
341,219



Net book value



At 31 December 2023
318,500
15,283
-
333,783



At 31 December 2022
325,500
20,377
-
345,877

If the land and buildings had not been included at valuation they would have been included under the
historical cost convention as follows:





The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
318,500
325,500

318,500
325,500


The Land and buildings have been revalued as follow:

Land and buildings
£


Cost as at 2016
240,000
Revaluation

2016
110,000



350,000

Page 6

 
ASHTON STEEL STOCKHOLDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
240,000
240,000

Accumulated depreciation
(21,600)
(16,800)

Net book value
218,400
223,200


5.


Debtors

2023
2022
£
£


Trade debtors
391,035
716,964

Amounts owed by group undertakings
524,578
524,578

Other debtors
17,425
22,243

933,038
1,263,785



6.


Creditors: Amounts falling due within one year

2023
Restated 2022
£
£

Bank loans
13,333
40,000

Trade creditors
690,748
540,510

Corporation tax
173,664
141,204

Other taxation and social security
55,629
100,432

Other creditors
297,572
219,909

1,230,946
1,042,055


Page 7

 
ASHTON STEEL STOCKHOLDERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Deferred taxation




2023


£






At beginning of year
4,817


Charged to the Statement of Changes in Equity
(3,113)



At end of year
1,704

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fixed asset timing differences
1,844
4,817

Pension surplus
(140)
-

1,704
4,817


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £73,359. Contributions totalling £559 (2022: £481) were payable to the fund at the Balance Sheet date and are included in creditors.


9.


Related party transactions

At the end of the year the company was owed £524,578 by Ashton Steel Holdings Limited (2022: £524,578).


10.


Controlling party

The company is a wholly-owned subsidiary of Ashton Steel Holdings Limited, which is the ultimate parent undertaking.

 
Page 8