| Registered Number:11596727 |
For the year ended 31 October 2024
England and Wales
Unaudited Financial Statements
For the year ended 31 October 2024
McPherson Steel Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
McPherson Steel Ltd
Statement of Financial Position
2023
2024
| Property, plant and equipment |
27,513
34,713
2
27,513
34,713
| Trade and other receivables |
22,569
21,640
3
15,445
| Cash and cash equivalents |
15,947
37,587
38,014
| Trade and other payables: amounts falling due within one |
| year |
(20,648)
(23,950)
4
17,366
13,637
Net current assets
| Total assets less current liabilities |
41,150
52,079
| Trade and other payables: amounts falling due after more |
| than one year |
(45,122)
(35,054)
5
(5,227)
(6,596)
| Provisions for liabilities |
869
Net assets
361
1
1
868
360
869
361
Shareholders' funds
| For the year ended 31 October 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| Mr Stuart McPherson Director |
| These financial statements were approved and authorised for issue by the Board on 20 March 2025 and were signed by: |
1 of 5
For the year ended 31 October 2024
McPherson Steel Ltd
Statement of Financial Position Continued
| The notes form part of these financial statements |
2 of 5
For the year ended 31 October 2024
McPherson Steel Ltd
Notes to the Financial Statements
Statutory Information
| McPherson Steel Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration |
| number 11596727. |
20 Melford Drive
Allington
Maidstone
Kent
ME16 0UN
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and value added tax relating to the casting of steel. |
Property, plant and equipment
| Property, plant and equipment, 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
Computer Equipment
Motor Vehicles
| The director has reviewed the depreciation policy and has deemed that vehicles have a useful life of 7 years. |
| Depreciation in the financial statements has been subsequently updated to reflect this. |
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. |
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
| The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
3 of 5
For the year ended 31 October 2024
McPherson Steel Ltd
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
Motor Vehicles
58,443
810
50,983
6,650
2,100
-
-
2,100
8,750
50,983
810
60,543
| Provision for depreciation and impairment |
23,730
267
19,427
4,036
Charge for year
9,300
267
7,283
1,750
33,030
534
26,710
5,786
2,964
24,273
276
27,513
2,614
31,556
543
34,713
| 3. Trade and other receivables |
2023
2024
3,584
5,568
18,056
17,001
22,569
21,640
| 4. Trade and other payables: amounts falling due within one year |
2023
2024
| Bank loans and overdraft (secured) |
3,576
3,278
3,249
4,242
| Taxation and social security |
9,208
5,803
| Accruals and deferred income |
850
750
492
-
| Obligations under HP/Financial leases |
6,491
6,491
84
84
23,950
20,648
4 of 5
For the year ended 31 October 2024
McPherson Steel Ltd
Notes to the Financial Statements Continued
| 5. Trade and other payables: amounts falling due after more than one year |
2023
2024
| Bank loans and overdraft (secured) |
17,807
21,384
17,247
23,738
35,054
45,122
| 6. Directors advances and guarantees |
Mr Stuart McPherson
Director's Loan
-
2,302
-
2,302
| 7. Average number of persons employed |
During the year the average number of employees was 1 (2023 : 1)
5 of 5