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REGISTERED NUMBER: 10220541 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

STEAMROCK ASSET MANAGEMENT LIMITED

STEAMROCK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 10220541)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STEAMROCK ASSET MANAGEMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTOR: D J Neary





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 10220541 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

STEAMROCK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 10220541)

STATEMENT OF FINANCIAL POSITION
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,718 25,907

CURRENT ASSETS
Debtors 5 18,000 309,043
Investments 6 10,938 10,938
Cash at bank and in hand 3,705 11,700
32,643 331,681
CREDITORS
Amounts falling due within one year 7 170,228 522,226
NET CURRENT LIABILITIES (137,585 ) (190,545 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(117,867

)

(164,638

)

CREDITORS
Amounts falling due after more than one
year

8

12,900

17,102
NET LIABILITIES (130,767 ) (181,740 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (130,769 ) (181,742 )
(130,767 ) (181,740 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

STEAMROCK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 10220541)

STATEMENT OF FINANCIAL POSITION - continued
31 May 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 8 January 2025 and were signed by:





D J Neary - Director


STEAMROCK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 10220541)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Steamrock Asset Management 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.

The financial statements have been prepared on the going concern basis. The Statement of Financial Position shows net liabilities, the director is of the opinion that the shareholders will continue to support it and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Steamrock Asset Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover represents the management of assets and is recognised once the service has been provided. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


STEAMROCK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 10220541)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 44,497
DEPRECIATION
At 1 June 2023 18,590
Charge for year 6,189
At 31 May 2024 24,779
NET BOOK VALUE
At 31 May 2024 19,718
At 31 May 2023 25,907

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 18,000 -
Amounts owed by group undertakings - 309,043
18,000 309,043

STEAMROCK ASSET MANAGEMENT LIMITED (REGISTERED NUMBER: 10220541)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

6. CURRENT ASSET INVESTMENTS
31.5.24 31.5.23
£    £   
Unlisted investments 10,938 10,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 4,202 4,202
Trade creditors 4,595 323
Amounts owed to group undertakings 123,794 491,637
Taxation and social security 34,045 21,883
Other creditors 3,592 4,181
170,228 522,226

Included within other creditors are accrued expenses of £3,500 (2023: £3,500)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 12,900 17,102

9. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Steamrock Capital Limited, registered in England and Wales, registration number 08091464 and registered office address is at Langley House, Park Road, London N2 8EY, England. This company is controlled equally between the Director of Steamrock Catalyst Properties Limited, Mr D Neary, and his wife Mrs P Neary through joint ownership of all of the allotted share capital.