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Registered Number: 14310046


 

 

 


Unaudited Financial Statements

for the year ended 31 August 2024

for

STEEL CITY AUTOS LTD

Directors Umair Lone
Sheeraz Lone
Registered Number 14310046
Registered Office 171 UPWELL STREET
SHEFFIELD ENGLAND
S4 8BR
Accountants Hartrose Associates Ltd
17 The Triangle
Huddersfield
HD 4RN
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 August 2024. The company commenced trading on 1st April 2023.
Principal activities
Principal activity of the company during the financial year was of Motor Repairs Garage.
Directors
The directors who served the company throughout the year were as follows:
Umair Lone
Sheeraz Lone
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Umair Lone
Director

Date approved: 09 January 2025
2
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................

Hartrose Associates Ltd

17 The Triangle
Huddersfield
HD 4RN
09 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 341,105    107,479 
Cost of sales (174,153)   (60,768)
Gross profit 166,952    46,711 
Administrative expenses (144,168)   (62,613)
Operating profit/(loss) 22,784    (15,902)
Profit/(Loss) on ordinary activities before taxation 22,784    (15,902)
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year 22,784    (15,902)
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 12,329    13,699 
12,329    13,699 
Current assets      
Stocks 4 2,856    1,525 
Cash at bank and in hand 43,095    16,370 
45,951    17,895 
Creditors: amount falling due within one year 5 (51,298)   (47,396)
Net current assets (5,347)   (29,501)
 
Total assets less current liabilities 6,982    (15,802)
Net assets 6,982    (15,802)
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 6,882    (15,902)
Shareholders' funds 6,982    (15,802)
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 09 January 2025 and were signed on its behalf by:


-------------------------------
Umair Lone
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
Profit for the year (15,902) (15,902)
Total comprehensive income for the year (15,902) (15,902)
Shares issued 100  100 
Total investments by and distributions to owners 100  100 
At 31 August 2023 100  (15,902) (15,802)
At 01 September 2023 (15,902) (15,902)
Profit for the year 22,784  22,784 
Total comprehensive income for the year 22,784  22,784 
Shares issued 100  100 
Total investments by and distributions to owners 100  100 
At 31 August 2024 100  6,882  6,982 
6
General Information
STEEL CITY AUTOS LTD is a private company, limited by shares, registered in , registration number 14310046, registration address 171 UPWELL STREET, SHEFFIELD ENGLAND, S4 8BR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10 Reducing Balance
Motor Vehicles 10 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 8 (2023 : 8).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 September 2023    
Additions 9,795    4,500    14,295 
Disposals    
At 31 August 2024 9,795    4,500    14,295 
Depreciation
At 01 September 2023 408      408 
Charge for year 939    619    1,558 
On disposals    
At 31 August 2024 1,347    619    1,966 
Net book values
Closing balance as at 31 August 2024 8,448    3,881    12,329 
Opening balance as at 01 September 2023 9,387    4,312    13,699 


4.

Stocks

2024
£
  2023
£
Stocks 2,856    1,525 
2,856    1,525 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Net Pay 1,576   
Nest 437    403 
Directors' Current Accounts 46,524    43,365 
VAT 2,761    3,628 
51,298    47,396 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

7