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REGISTERED NUMBER: 07688499 (England and Wales)

















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Steelers Ice Arena Limited

Steelers Ice Arena Limited (Registered number: 07688499)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Steelers Ice Arena Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr A P Smith





REGISTERED OFFICE: 2b Birley Moor Road
Sheffield
S12 2AU





REGISTERED NUMBER: 07688499 (England and Wales)





ACCOUNTANTS: Sutton McGrath Hartley Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
S11 8YZ

Steelers Ice Arena Limited (Registered number: 07688499)

Statement of Financial Position
31 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 307,964 281,220
Investments 5 1 1
307,965 281,221

CURRENT ASSETS
Stocks 119,800 153,600
Debtors 6 490,329 296,385
Cash at bank and in hand 1,228,300 845,396
1,838,429 1,295,381
CREDITORS
Amounts falling due within one year 7 781,767 561,085
NET CURRENT ASSETS 1,056,662 734,296
TOTAL ASSETS LESS CURRENT LIABILITIES 1,364,627 1,015,517

CREDITORS
Amounts falling due after more than one
year

8

537,147

576,659
NET ASSETS 827,480 438,858

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 827,380 438,758
SHAREHOLDERS' FUNDS 827,480 438,858

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 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.

Steelers Ice Arena Limited (Registered number: 07688499)

Statement of Financial Position - 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 director and authorised for issue on 12 November 2024 and were signed by:





Mr A P Smith - Director


Steelers Ice Arena Limited (Registered number: 07688499)

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

1. STATUTORY INFORMATION

Steelers Ice Arena 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Steelers Ice Arena Limited (Registered number: 07688499)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 46 (2023 - 45 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2023 570,061
Additions 126,378
Disposals (107,168 )
At 31 March 2024 589,271
DEPRECIATION
At 1 April 2023 288,841
Charge for year 81,121
Eliminated on disposal (88,655 )
At 31 March 2024 281,307
NET BOOK VALUE
At 31 March 2024 307,964
At 31 March 2023 281,220

Steelers Ice Arena Limited (Registered number: 07688499)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
At 1 April 2023 14,264
Additions 25,691
Transfer to ownership (14,264 )
At 31 March 2024 25,691
DEPRECIATION
At 1 April 2023 9,751
Charge for year 2,567
Transfer to ownership (10,878 )
At 31 March 2024 1,440
NET BOOK VALUE
At 31 March 2024 24,251
At 31 March 2023 4,513

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 102,913 42,099
Other debtors 197,153 220,002
300,066 262,101

Steelers Ice Arena Limited (Registered number: 07688499)

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

6. DEBTORS - continued
2024 2023
£ £
Amounts falling due after more than one year:
Other debtors 190,263 34,284

Aggregate amounts 490,329 296,385

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 54,467 62,330
Hire purchase contracts (see note 9) 5,666 1,912
Trade creditors 161,066 86,795
Taxation and social security 243,581 133,242
Other creditors 316,987 276,806
781,767 561,085

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 26,979 81,758
Hire purchase contracts (see note 9) 15,267 -
Other creditors 494,901 494,901
537,147 576,659

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 309,313 309,313

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 5,666 1,912
Between one and five years 15,267 -
20,933 1,912

Steelers Ice Arena Limited (Registered number: 07688499)

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

9. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2024 2023
£ £
Within one year 4,045 4,045
Between one and five years 13,432 17,477
17,477 21,522

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Other loans 494,901 494,901

The other loans are secured by way of a floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

At the end of the period the total amount of £276,009 (2023: £144,801) was owed from companies under common control of the director.

There was also a loan to an other related party owing £26,836 (2023: £36,304) to the company, with interest charged at the official HMRC rate. All loans are repayable on demand.