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Company No: 06882118 (England and Wales)

G & J STEELE (HOLDINGS) LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 31 March 2024

G & J STEELE (HOLDINGS) LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

G & J STEELE (HOLDINGS) LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
G & J STEELE (HOLDINGS) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Charles Goodwin
Jamie Steele
Leanne Steele
REGISTERED OFFICE Hillside Works
Old Mill Lane
Aylesford
ME20 7DT
United Kingdom
COMPANY NUMBER 06882118 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
G & J STEELE (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
G & J STEELE (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 822,078 856,136
Investments 4 200 200
822,278 856,336
Current assets
Debtors 59,444 57,038
Cash at bank and in hand 19,423 56,626
78,867 113,664
Creditors: amounts falling due within one year ( 550,497) ( 494,787)
Net current liabilities (471,630) (381,123)
Total assets less current liabilities 350,648 475,213
Creditors: amounts falling due after more than one year ( 202,738) ( 269,165)
Net assets 147,910 206,048
Capital and reserves
Called-up share capital 100 100
Profit and loss account 147,810 205,948
Total shareholders' funds 147,910 206,048

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of G & J Steele (Holdings) Limited (registered number: 06882118) were approved and authorised for issue by the Board of Directors on 28 February 2025. They were signed on its behalf by:

Leanne Steele
Director
G & J STEELE (HOLDINGS) LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
G & J STEELE (HOLDINGS) LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 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

G & J Steele (Holdings) 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 Hillside Works, Old Mill Lane, Aylesford, ME20 7DT, 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 6.66 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2. Employees

31.03.2024 31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 2,175,760 2,175,760
Additions 185,240 185,240
At 31 March 2024 2,361,000 2,361,000
Accumulated depreciation
At 01 April 2023 1,319,624 1,319,624
Charge for the financial year 219,297 219,297
Rounding difference 1 1
At 31 March 2024 1,538,922 1,538,922
Net book value
At 31 March 2024 822,078 822,078
At 31 March 2023 856,136 856,136

4. Fixed asset investments

31.03.2024 31.03.2023
£ £
Subsidiary undertakings 200 200

5. Related party transactions

G & J Steele (Holdings) Limited is the holding company of G & J Steele Plant Hire Limited.

In respect of various loans at the year end ele (Holdings) Limited owed £278,109 to G&J Steele (Holdings) Ltd (2023: G&J Steele Holdings owed 238,068).