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Registration number: 00970970

Ashton Steel Stockholders Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Ashton Steel Stockholders Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Ashton Steel Stockholders Limited

Company Information

Directors

Mr Paul White

Mr Andrew Edward Guest

Registered office

Station Yard, Station Road
Hadfield
Glossop
SK13 1AA

Accountants

Harrison Hinchliffe & Co Ltd
90-92 High Street West
Glossop
Derbyshire
SK13 8BB

 

Ashton Steel Stockholders Limited

(Registration number: 00970970)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

362,990

333,783

Current assets

 

Stocks

5

678,584

1,135,021

Debtors

6

872,869

933,038

Cash at bank and in hand

 

8,021

8,122

 

1,559,474

2,076,181

Creditors: Amounts falling due within one year

7

(804,178)

(1,217,612)

Net current assets

 

755,296

858,569

Total assets less current liabilities

 

1,118,286

1,192,352

Creditors: Amounts falling due after more than one year

7

-

(13,333)

Provisions for liabilities

-

(1,704)

Net assets

 

1,118,286

1,177,315

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

110,500

110,500

Retained earnings

1,007,686

1,066,715

Shareholders' funds

 

1,118,286

1,177,315

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

 

Ashton Steel Stockholders Limited

(Registration number: 00970970)
Balance Sheet as at 31 December 2024

.........................................
Mr Paul White
Director

.........................................
Mr Andrew Edward Guest
Director

 

Ashton Steel Stockholders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Station Yard, Station Road
Hadfield
Glossop
SK13 1AA
England

These financial statements were authorised for issue by the Board on 22 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ashton Steel Stockholders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Ashton Steel Stockholders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

 

Ashton Steel Stockholders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

325,500

8,700

316,302

650,502

Disposals

24,500

-

-

24,500

At 31 December 2024

350,000

8,700

316,302

675,002

Depreciation

At 1 January 2024

7,000

8,700

301,019

316,719

Charge for the year

-

-

2,293

2,293

Eliminated on disposal

(7,000)

-

-

(7,000)

At 31 December 2024

-

8,700

303,312

312,012

Carrying amount

At 31 December 2024

350,000

-

12,990

362,990

At 31 December 2023

318,500

-

15,283

333,783

Included within the net book value of land and buildings above is £350,000 (2023 - £350,000) in respect of freehold land and buildings and £Nil (2023 - £(31,500)) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

678,584

1,135,021

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

342,247

391,035

Amounts owed by related parties

11

524,578

524,578

Prepayments

 

4,463

17,425

Other debtors

 

1,581

-

   

872,869

933,038

 

Ashton Steel Stockholders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

239,152

285,392

Trade creditors

 

411,259

369,514

Taxation and social security

 

82,572

229,293

Accruals and deferred income

 

3,320

-

Other creditors

 

67,875

333,413

 

804,178

1,217,612

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

13,333

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Class A of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

13,333

Current loans and borrowings

2024
£

2023
£

Other borrowings

239,152

285,392

 

Ashton Steel Stockholders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Dividends

2024

2023

£

£

 

 

11

Related party transactions

 

Ashton Steel Stockholders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

34,800

34,800

Contributions paid to money purchase schemes

48,000

67,000

82,800

101,800