IRIS Accounts Production v24.3.2.46 05425006 director 1.5.23 30.4.24 30.4.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054250062023-04-30054250062024-04-30054250062023-05-012024-04-30054250062022-04-30054250062022-05-012023-04-30054250062023-04-3005425006ns15:EnglandWales2023-05-012024-04-3005425006ns14:PoundSterling2023-05-012024-04-3005425006ns10:Director12023-05-012024-04-3005425006ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005425006ns10:SmallEntities2023-05-012024-04-3005425006ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3005425006ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005425006ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005425006ns10:FullAccounts2023-05-012024-04-300542500612023-05-012024-04-3005425006ns10:OrdinaryShareClass12023-05-012024-04-3005425006ns10:CompanySecretary12023-05-012024-04-3005425006ns10:RegisteredOffice2023-05-012024-04-3005425006ns5:CurrentFinancialInstruments2024-04-3005425006ns5:CurrentFinancialInstruments2023-04-3005425006ns5:Non-currentFinancialInstruments2024-04-3005425006ns5:Non-currentFinancialInstruments2023-04-3005425006ns5:ShareCapital2024-04-3005425006ns5:ShareCapital2023-04-3005425006ns5:RetainedEarningsAccumulatedLosses2024-04-3005425006ns5:RetainedEarningsAccumulatedLosses2023-04-3005425006ns5:NetGoodwill2023-05-012024-04-3005425006ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3005425006ns5:PlantMachinery2023-05-012024-04-3005425006ns5:MotorVehicles2023-05-012024-04-3005425006ns5:NetGoodwill2023-04-3005425006ns5:NetGoodwill2024-04-3005425006ns5:NetGoodwill2023-04-3005425006ns5:PlantMachinery2023-04-3005425006ns5:MotorVehicles2023-04-3005425006ns5:PlantMachinery2024-04-3005425006ns5:MotorVehicles2024-04-3005425006ns5:PlantMachinery2023-04-3005425006ns5:MotorVehicles2023-04-3005425006ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3005425006ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3005425006ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-04-3005425006ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3005425006ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-04-3005425006ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-04-3005425006ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3005425006ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-3005425006ns10:OrdinaryShareClass12024-04-3005425006ns5:RetainedEarningsAccumulatedLosses2023-04-3005425006ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 05425006 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

RUSSELL STEEL LIMITED

RUSSELL STEEL LIMITED (REGISTERED NUMBER: 05425006)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


RUSSELL STEEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: R Steel





SECRETARY: Mrs S C Steel





REGISTERED OFFICE: 6 Combe Crescent
Kirkby-in-Furness
Cumbria
LA17 7UE





REGISTERED NUMBER: 05425006 (England and Wales)





ACCOUNTANTS: R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RUSSELL STEEL LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at 30 April 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD


23 December 2024

RUSSELL STEEL LIMITED (REGISTERED NUMBER: 05425006)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 167 335
Tangible assets 5 23,434 16,645
23,601 16,980

CURRENT ASSETS
Debtors 6 6,348 1,353
Cash at bank 2,317 7,381
8,665 8,734
CREDITORS
Amounts falling due within one year 7 9,524 8,037
NET CURRENT (LIABILITIES)/ASSETS (859 ) 697
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,742

17,677

CREDITORS
Amounts falling due after more than one
year

8

(18,059

)

(14,319

)

PROVISIONS FOR LIABILITIES (4,452 ) (3,162 )
NET ASSETS 231 196

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 131 96
SHAREHOLDERS' FUNDS 231 196

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 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.

RUSSELL STEEL LIMITED (REGISTERED NUMBER: 05425006)

BALANCE SHEET - continued
30 APRIL 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 23 December 2024 and were signed by:





R Steel - Director


RUSSELL STEEL LIMITED (REGISTERED NUMBER: 05425006)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Russell Steel 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

RUSSELL STEEL LIMITED (REGISTERED NUMBER: 05425006)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 3,350
AMORTISATION
At 1 May 2023 3,015
Charge for year 168
At 30 April 2024 3,183
NET BOOK VALUE
At 30 April 2024 167
At 30 April 2023 335

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 1,594 22,075 23,669
Additions 499 23,515 24,014
Disposals - (22,075 ) (22,075 )
At 30 April 2024 2,093 23,515 25,608
DEPRECIATION
At 1 May 2023 815 6,209 7,024
Charge for year 235 1,124 1,359
Eliminated on disposal - (6,209 ) (6,209 )
At 30 April 2024 1,050 1,124 2,174
NET BOOK VALUE
At 30 April 2024 1,043 22,391 23,434
At 30 April 2023 779 15,866 16,645

RUSSELL STEEL LIMITED (REGISTERED NUMBER: 05425006)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 22,075
Additions 23,515
Disposals (22,075 )
At 30 April 2024 23,515
DEPRECIATION
At 1 May 2023 6,209
Charge for year 1,124
Eliminated on disposal (6,209 )
At 30 April 2024 1,124
NET BOOK VALUE
At 30 April 2024 22,391
At 30 April 2023 15,866

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 6,348 1,353

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,200 2,200
Hire purchase contracts 4,765 4,797
Corporation tax 2,559 1,040
9,524 8,037

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 2,200 2,200
Bank loans - 2-5 years 367 2,568
Hire purchase contracts 15,492 9,551
18,059 14,319

RUSSELL STEEL LIMITED (REGISTERED NUMBER: 05425006)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CALLED UP SHARE CAPITAL

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

10. RESERVES
Retained
earnings
£   

At 1 May 2023 96
Profit for the year 16,235
Dividends (16,200 )
At 30 April 2024 131

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors is a loan from the company to the director of £6,348 (2023: £1,353). The maximum the director's loan account was overdrawn was £6,438.

12. RELATED PARTY DISCLOSURES

During the year the director Mr R Steel and his wife received dividends of £16,200 (2023: £2,000).

13. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr R Steel, the director of the company, during the current and prior periods.