1 April 2023 false No description of principal activity Taxfiler 2024.6 09029728business:PrivateLimitedCompanyLtd2023-04-012024-03-31 090297282023-03-31 090297282023-04-012024-03-31 09029728business:AuditExemptWithAccountantsReport2023-04-012024-03-31 09029728business:FilletedAccounts2023-04-012024-03-31 090297282024-03-31 090297282023-03-31 09029728core:WithinOneYear2024-03-31 09029728core:WithinOneYear2023-03-31 09029728core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 09029728core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 09029728core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 09029728core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 09029728core:PreviouslyStatedAmount2024-03-31 09029728core:PreviouslyStatedAmount2023-03-31 09029728business:SmallEntities2023-04-012024-03-31 09029728business:Director32023-04-012024-03-31 09029728countries:EnglandWales2023-04-012024-03-31 09029728business:RegisteredOffice2023-04-012024-03-31 09029728core:LandBuildings2023-04-012024-03-31 09029728core:PlantMachinery2023-04-012024-03-31 09029728core:MotorVehicles2023-04-012024-03-31 09029728core:FurnitureFittings2023-04-012024-03-31 09029728core:ComputerEquipment2023-04-012024-03-31 09029728core:LandBuildings2023-03-31 09029728core:PlantMachinery2023-03-31 09029728core:MotorVehicles2023-03-31 09029728core:FurnitureFittings2023-03-31 09029728core:ComputerEquipment2023-03-31 09029728core:LandBuildings2024-03-31 09029728core:PlantMachinery2024-03-31 09029728core:MotorVehicles2024-03-31 09029728core:FurnitureFittings2024-03-31 09029728core:ComputerEquipment2024-03-31 090297282022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 09029728 (England and Wales)
Stokesley Metals Ltd Unaudited accounts for the year ended 31 March 2024
Stokesley Metals Ltd Unaudited accounts Contents
Page
- 2 -
Stokesley Metals Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,289,354 
1,931,824 
Current assets
Inventories
50,100 
42,245 
Debtors
216,091 
212,750 
Cash at bank and in hand
2,924,662 
3,458,236 
3,190,853 
3,713,231 
Creditors: amounts falling due within one year
(990,517)
(1,291,107)
Net current assets
2,200,336 
2,422,124 
Total assets less current liabilities
4,489,690 
4,353,948 
Provisions for liabilities
Deferred tax
(350,712)
(311,438)
Net assets
4,138,978 
4,042,510 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
4,138,878 
4,042,410 
Shareholders' funds
4,138,978 
4,042,510 
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 8 December 2024 and were signed on its behalf by
A Farrow Director Company Registration No. 09029728
- 3 -
Stokesley Metals Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Stokesley Metals Ltd is a private company, limited by shares, registered in England and Wales, registration number 09029728. The registered office is Huckers Yard, Unit 6, Netherlands Way, Stallingbrough, DN41 8DF.
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 £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
3% on cost
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 4 -
Stokesley Metals Ltd Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
205,234 
2,582,494 
455,913 
5,690 
17,500 
3,266,831 
Additions
304,580 
434,438 
- 
- 
- 
739,018 
At 31 March 2024
509,814 
3,016,932 
455,913 
5,690 
17,500 
4,005,849 
Depreciation
At 1 April 2023
19,444 
1,114,703 
184,937 
3,861 
12,062 
1,335,007 
Charge for the year
20,393 
305,446 
54,195 
366 
1,088 
381,488 
At 31 March 2024
39,837 
1,420,149 
239,132 
4,227 
13,150 
1,716,495 
Net book value
At 31 March 2024
469,977 
1,596,783 
216,781 
1,463 
4,350 
2,289,354 
At 31 March 2023
185,790 
1,467,791 
270,976 
1,829 
5,438 
1,931,824 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
182,177 
182,177 
Accrued income and prepayments
33,914 
30,573 
216,091 
212,750 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
508,603 
784,133 
Taxes and social security
359,488 
468,195 
Other creditors
122,426 
38,779 
990,517 
1,291,107 
7
Controlling party
The ultimate controlling party is Stokesley Tractors Limited, by virtue of its shareholding.
- 5 -
Stokesley Metals Ltd Notes to the Accounts for the year ended 31 March 2024
8
Average number of employees
During the year the average number of employees was 11 (2023: 11).
- 6 -