STEERFORTH LIMITED

Company Registration Number:
07531104 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

STEERFORTH LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

STEERFORTH LIMITED

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Current assets
Debtors:   44,100 135,000
Cash at bank and in hand: 4,624 50,355
Total current assets: 48,724 185,355
Creditors: amounts falling due within one year: 3 (24,303) (47,314)
Net current assets (liabilities): 24,421 138,041
Total assets less current liabilities: 24,421 138,041
Creditors: amounts falling due after more than one year: 4 (14,215) (24,084)
Total net assets (liabilities): 10,206 113,957
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 10,106 113,857
Shareholders funds: 10,206 113,957

The notes form part of these financial statements

STEERFORTH LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 January 2025
and signed on behalf of the board by:

Name: R I Millar
Status: Director

The notes form part of these financial statements

STEERFORTH LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover is recognised upon invoicing.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less depreciation and impairment. The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows: 25 Straight Line. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within ‘administrative expenses’ in the profit and loss account.

Intangible fixed assets and amortisation policy

Intangible assets - goodwill Purchased goodwill arising is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is five years. Provision is made for any impairment.

Valuation and information policy

Turnover on long term contracts is recognised according to the stage reached in the contract by reference to the value of work done. A prudent estimate of the profit attributable to work completed is recognised once the outcome of the contract can be assessed with reasonable certainty. The amount by which turnover exceeds payments on account is shown under debtors as amounts recoverable on contracts. Where payments on account exceed turnover and long term work in progress, the excess is classified as payments on account and is separately disclosed within creditors. Provisions are made in respect of future losses on contracts when identified.

STEERFORTH LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

STEERFORTH LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Creditors: amounts falling due within one year note

2024 Bank loan £10,648, Other Tax and Social Security £4,675, Other creditors £1,433, Accruals and Deferred Income £7,547 2023 Bank loan £10,648, Corporation Tax £18,479, Other Tax and Social Security £6,161, Other creditors £1,410, Accruals and Deferred Income £10,616

STEERFORTH LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Creditors: amounts falling due after more than one year note

2024 Bank Loan £14,215 2023 Bank Loan £24,084

STEERFORTH LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Financial commitments

There were no commitments, guarantees or contingencies as at 30 April 2024 (2023: None).

STEERFORTH LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: Company expenses paid by the Directors and dividends less withdrawals.
£
Balance at 01 May 2023 1,410
Balance at 30 April 2024 1,433