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REGISTERED NUMBER: 02323978 (England and Wales)






Shelley Steels Limited

Financial Statements

for the Year Ended 30 April 2024






Shelley Steels Limited (Registered number: 02323978)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shelley Steels Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: Mr J G Bedford
Mr M A Hughes





REGISTERED OFFICE: Unit 12 Fall Bank Industrial Estate
Dodworth
Barnsley
South Yorkshire
S75 3LS





REGISTERED NUMBER: 02323978 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Shelley Steels Limited (Registered number: 02323978)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 56,482 40,525
Investments 5 - -
56,482 40,525

CURRENT ASSETS
Stocks 639,914 526,358
Debtors 6 913,168 1,007,037
Cash at bank and in hand 517,190 514,242
2,070,272 2,047,637
CREDITORS
Amounts falling due within one year 7 311,624 365,066
NET CURRENT ASSETS 1,758,648 1,682,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,815,130

1,723,096

PROVISIONS FOR LIABILITIES 14,121 10,131
NET ASSETS 1,801,009 1,712,965

Shelley Steels Limited (Registered number: 02323978)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 60,300 60,300
Retained earnings 1,740,709 1,652,665
SHAREHOLDERS' FUNDS 1,801,009 1,712,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:




Mr J G Bedford - Director



Mr M A Hughes - Director


Shelley Steels Limited (Registered number: 02323978)

Notes to the Financial Statements
for the year ended 30 April 2024


1. STATUTORY INFORMATION

Shelley Steels 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 company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are initially recorded 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. Cost is determined by using the specific identification method while net realisable value represents scrap value.

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.

Shelley Steels Limited (Registered number: 02323978)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

Fixed assets investments
Investments are initially recorded at cost and are updated to reflect market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 May 2023 55,134 17,251 43,867 4,384 120,636
Additions 26,975 - - - 26,975
Disposals (8,675 ) - - - (8,675 )
At 30 April 2024 73,434 17,251 43,867 4,384 138,936
DEPRECIATION
At 1 May 2023 49,300 16,188 10,239 4,384 80,111
Charge for year 1,548 1,063 8,407 - 11,018
Eliminated on disposal (8,675 ) - - - (8,675 )
At 30 April 2024 42,173 17,251 18,646 4,384 82,454
NET BOOK VALUE
At 30 April 2024 31,261 - 25,221 - 56,482
At 30 April 2023 5,834 1,063 33,628 - 40,525

Shelley Steels Limited (Registered number: 02323978)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 May 2023 1,171
Disposals (1,171 )
At 30 April 2024 -
PROVISIONS
At 1 May 2023 1,171

Eliminated on disposal (1,171 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 222,937 317,278
Amounts owed by group undertakings 681,050 681,050
Prepayments and accrued income 9,181 8,709
913,168 1,007,037

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 231,385 257,930
Tax 43,679 51,577
VAT 34,046 53,252
Other creditors 68 407
Accruals and deferred income 2,446 1,900
311,624 365,066

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 23,850 23,850
Between one and five years 21,862 45,712
45,712 69,562

Shelley Steels Limited (Registered number: 02323978)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


9. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Shelley Steels Associates Limited.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.