01 March 2023 29 February 2024 No principle activity is included 11812775 2023-03-01 11812775 2024-02-29 11812775 2023-03-01 2024-02-29 11812775 2023-02-28 11812775 2022-03-01 2023-02-28 11812775 uk-core:WithinOneYear 2024-02-29 11812775 uk-core:WithinOneYear 2023-02-28 11812775 uk-core:AfterOneYear 2024-02-29 11812775 uk-core:AfterOneYear 2023-02-28 11812775 uk-core:ShareCapital 2024-02-29 11812775 uk-core:ShareCapital 2023-02-28 11812775 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 11812775 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 11812775 uk-curr:PoundSterling 2023-03-01 2024-02-29 11812775 uk-core:PlantMachinery 2023-03-01 2024-02-29 11812775 uk-core:Vehicles 2023-03-01 2024-02-29 11812775 uk-core:FurnitureFittings 2023-03-01 2024-02-29 11812775 uk-core:OfficeEquipment 2023-03-01 2024-02-29 11812775 uk-core:BetweenTwoFiveYears 2024-02-29 11812775 uk-core:BetweenTwoFiveYears 2023-02-28 11812775 uk-bus:FRS102 2023-03-01 2024-02-29 11812775 uk-bus:FullAccounts 2023-03-01 2024-02-29 11812775 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11812775 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  ORRELL STEELWORK LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  ORRELL STEELWORK LIMITED
  Company registered number: 11812775
  ABRIDGED STATEMENT OF FINANCIAL POSITION AT 29 February 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 7,152 8,285
  CURRENT ASSETS    
  Inventories   91,247 85,538
  Debtors   234,120 46,588
  Cash at bank and in hand   59,739 178,028
      385,106 310,154
  CREDITORS: Amounts falling due within one year 4 290,645 156,000
  NET CURRENT ASSETS   94,461 154,154
  TOTAL ASSETS LESS CURRENT LIABILITIES   101,613 162,439
           
  CREDITORS: Amounts falling due after more than one year 5 (12,546) (22,593)
  NET ASSETS   £89,067 £139,846
       
  CAPITAL AND RESERVES
  Called up share capital   133 100
  Retained earnings   88,934 139,746
  SHAREHOLDERS' FUNDS   £89,067 £139,846
       
  page 1
  ORRELL STEELWORK LIMITED
  Company registered number: 11812775
  ABRIDGED STATEMENT OF FINANCIAL POSITION AT 29 February 2024 (CONT.)
           
       
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the period in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
       
  These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies
       
  All the members have consented to the preparation of an abridged Statement of Financial Position for the period ended 29 February 2024 in accordance with Section 444 (2A) of the Companies Act 2006
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered
  The financial statements were approved and authorised for issue by the board of directors on 13 May 2024
 
  Signed on behalf of the board of directors
 
 
       
  I Rogers, Director
       
       
  page 2
  ORRELL STEELWORK LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
1a. Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1b. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1c. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
       
1d. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1e. Stocks
         
  Work in progres is stated at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
         
         
1f. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1g. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
  page 3
  ORRELL STEELWORK LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the period were as follows:
    2024 2023
    No. No.
  Persons employed, including directors 2 2
  Production and sales 3 3
    5 5
   
       
3. FIXED ASSETS
    Property Total
    plant &  
    equipment  
    £ £
  Cost or valuation
  At 1 March 2023 14,867 14,867
  Additions 129 129
  At 29 February 2024 14,996 14,996
   
  Provision for depreciation,
  amortisation and impairment
  At 1 March 2023 6,582 6,582
  For the period 1,262 1,262
  At 29 February 2024 7,844 7,844
   
  Net Book Value
       
  At 29 February 2024 7,152 7,152
  At 28 February 2023 8,285 8,285
   
       
       
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Debenture loans 23,000 28,000
  Bank loans and overdrafts 10,000 10,000
  Trade creditors 214,967 67,388
  Other taxes and social security 2,249 4,191
  Other creditors 40,429 46,421
    £290,645 £156,000
   
       
  page 4
  ORRELL STEELWORK LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE PERIOD ENDED 29 FEBRUARY 2024
       
       
5. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2024 2023
    £ £
  Bank loans and overdrafts 12,546 22,593
    £12,546 £22,593
   
  5% 150 preference shares of £1 each
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 10,000 10,000
  other 23,000 28,000
  within 2-5 years
  bank 12,546 22,593
    £45,546 £60,593
   
       
       
6. OTHER FINANCIAL COMMITMENTS
       
  At 28 February 2024, the company had annual commitments under non-cancellable operating leases of £10,800 (2023 - £10,800).
       
       
7. COMPANY INFORMATION
       
  The company is registered in England and its registered number is 11812775.The company is a private company limited by shares. Its registered office is 74 St George's Road, Bolton, Lancashire, BL1 2DD.
       
       
  page 5