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Company Registration No. 11198159 (England and Wales)
Steel City Properties Limited Unaudited accounts for the year ended 31 March 2024
Steel City Properties Limited Unaudited accounts Contents
Page
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Steel City Properties Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
1,362,500 
935,000 
Current assets
Debtors
10,242 
- 
Cash at bank and in hand
1,470 
94,485 
11,712 
94,485 
Creditors: amounts falling due within one year
(122,615)
(60,881)
Net current (liabilities)/assets
(110,903)
33,604 
Total assets less current liabilities
1,251,597 
968,604 
Creditors: amounts falling due after more than one year
(798,261)
(581,748)
Provisions for liabilities
Deferred tax
(154,553)
(100,750)
Net assets
298,783 
286,106 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
298,683 
286,006 
Shareholders' funds
298,783 
286,106 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2024 and were signed on its behalf by
Nigel Hodkinson Director Company Registration No. 11198159
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Steel City Properties Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Steel City Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11198159. The registered office is Offices At, 918-920 Chesterfield Road, Sheffield, South Yorkshire, S8 0SH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in pounds sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2024 
£ 
Fair value at 1 April 2023
935,000 
Additions
212,290 
Net gain from fair value adjustments
215,210 
At 31 March 2024
1,362,500 
The fair values of the investment properties have been arrived at on the basis of a valuation carried out by the directors. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
8,454 
- 
Other debtors
1,788 
- 
10,242 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
120,815 
58,961 
Accruals
1,800 
1,920 
122,615 
60,881 
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Steel City Properties Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
796,473 
581,748 
Other creditors
1,788 
- 
798,261 
581,748 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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