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
Steel City Properties Limited
Statement of financial position
as at 31 March 2024
Investment property
1,362,500
935,000
Cash at bank and in hand
1,470
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
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
Steel City Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in pounds sterling.
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.
Fair value at 1 April 2023
935,000
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.
Amounts falling due within one year
Amounts due from group undertakings etc.
8,454
-
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
120,815
58,961
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
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).