Silverfin false false 30/04/2024 01/05/2023 30/04/2024 T A Morgan 05/04/2019 28 January 2025 The principal activity of the Company during the financial year was wholesale of metals and metal ores. 11928870 2024-04-30 11928870 bus:Director1 2024-04-30 11928870 2023-04-30 11928870 core:CurrentFinancialInstruments 2024-04-30 11928870 core:CurrentFinancialInstruments 2023-04-30 11928870 core:Non-currentFinancialInstruments 2024-04-30 11928870 core:Non-currentFinancialInstruments 2023-04-30 11928870 core:ShareCapital 2024-04-30 11928870 core:ShareCapital 2023-04-30 11928870 core:RetainedEarningsAccumulatedLosses 2024-04-30 11928870 core:RetainedEarningsAccumulatedLosses 2023-04-30 11928870 core:LandBuildings 2023-04-30 11928870 core:OtherPropertyPlantEquipment 2023-04-30 11928870 core:LandBuildings 2024-04-30 11928870 core:OtherPropertyPlantEquipment 2024-04-30 11928870 2023-05-01 2024-04-30 11928870 bus:FilletedAccounts 2023-05-01 2024-04-30 11928870 bus:SmallEntities 2023-05-01 2024-04-30 11928870 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11928870 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11928870 bus:Director1 2023-05-01 2024-04-30 11928870 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 11928870 2022-05-01 2023-04-30 11928870 core:LandBuildings 2023-05-01 2024-04-30 11928870 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 11928870 (England and Wales)

STEEL BEAMS DIRECT LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

STEEL BEAMS DIRECT LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

STEEL BEAMS DIRECT LIMITED

BALANCE SHEET

As at 30 April 2024
STEEL BEAMS DIRECT LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 90,932 61,116
90,932 61,116
Current assets
Stocks 4 900 1,900
Debtors 5 82,424 111,770
Cash at bank and in hand 79,207 230,659
162,531 344,329
Creditors: amounts falling due within one year 6 ( 68,354) ( 202,435)
Net current assets 94,177 141,894
Total assets less current liabilities 185,109 203,010
Creditors: amounts falling due after more than one year 7 ( 34,647) ( 26,085)
Net assets 150,462 176,925
Capital and reserves
Called-up share capital 100 100
Profit and loss account 150,362 176,825
Total shareholders' funds 150,462 176,925

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Steel Beams Direct Limited (registered number: 11928870) were approved and authorised for issue by the Director on 28 January 2025. They were signed on its behalf by:

T A Morgan
Director
STEEL BEAMS DIRECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
STEEL BEAMS DIRECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Steel Beams Direct Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 14 Chalwyn Industrial Estate, St Clements Road, Poole, BH12 4PE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 20 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 May 2023 0 83,267 83,267
Additions 25,097 43,358 68,455
Disposals 0 ( 23,000) ( 23,000)
At 30 April 2024 25,097 103,625 128,722
Accumulated depreciation
At 01 May 2023 0 22,151 22,151
Charge for the financial year 1,939 19,803 21,742
Disposals 0 ( 6,103) ( 6,103)
At 30 April 2024 1,939 35,851 37,790
Net book value
At 30 April 2024 23,158 67,774 90,932
At 30 April 2023 0 61,116 61,116

4. Stocks

2024 2023
£ £
Stocks 900 1,900

5. Debtors

2024 2023
£ £
Trade debtors 27,159 111,770
Corporation tax 307 0
Other debtors 54,958 0
82,424 111,770

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 0
Trade creditors 47,526 92,936
Taxation and social security 148 49,152
Obligations under finance leases and hire purchase contracts (secured) 5,157 5,342
Other creditors 5,523 55,005
68,354 202,435

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,333 0
Obligations under finance leases and hire purchase contracts (secured) 21,314 26,085
34,647 26,085

Hire purchase agreements are secured on the assets to which they relate.