2024-01-012024-12-312024-12-31false01372873RSJ STEELS (LINCOLN) LIMITED2025-03-26falseiso4217:GBPxbrli:pure013728732024-01-01013728732024-12-31013728732024-01-012024-12-31013728732023-01-01013728732023-12-31013728732023-01-012023-12-3101372873bus:SmallEntities2024-01-012024-12-3101372873bus:AuditExempt-NoAccountantsReport2024-01-012024-12-3101372873bus:FullAccounts2024-01-012024-12-3101372873bus:PrivateLimitedCompanyLtd2024-01-012024-12-3101372873core:WithinOneYear2024-12-3101372873core:AfterOneYear2024-12-3101372873core:WithinOneYear2023-12-3101372873core:AfterOneYear2023-12-3101372873core:ShareCapital2024-12-3101372873core:SharePremium2024-12-3101372873core:RevaluationReserve2024-12-3101372873core:OtherReservesSubtotal2024-12-3101372873core:RetainedEarningsAccumulatedLosses2024-12-3101372873core:ShareCapital2023-12-3101372873core:SharePremium2023-12-3101372873core:RevaluationReserve2023-12-3101372873core:OtherReservesSubtotal2023-12-3101372873core:RetainedEarningsAccumulatedLosses2023-12-3101372873core:LandBuildings2024-12-3101372873core:PlantMachinery2024-12-3101372873core:Vehicles2024-12-3101372873core:FurnitureFittings2024-12-3101372873core:OfficeEquipment2024-12-3101372873core:NetGoodwill2024-12-3101372873core:IntangibleAssetsOtherThanGoodwill2024-12-3101372873core:ListedExchangeTraded2024-12-3101372873core:UnlistedNon-exchangeTraded2024-12-3101372873core:LandBuildings2023-12-3101372873core:PlantMachinery2023-12-3101372873core:Vehicles2023-12-3101372873core:FurnitureFittings2023-12-3101372873core:OfficeEquipment2023-12-3101372873core:NetGoodwill2023-12-3101372873core:IntangibleAssetsOtherThanGoodwill2023-12-3101372873core:ListedExchangeTraded2023-12-3101372873core:UnlistedNon-exchangeTraded2023-12-3101372873core:LandBuildings2024-01-012024-12-3101372873core:PlantMachinery2024-01-012024-12-3101372873core:Vehicles2024-01-012024-12-3101372873core:FurnitureFittings2024-01-012024-12-3101372873core:OfficeEquipment2024-01-012024-12-3101372873core:NetGoodwill2024-01-012024-12-3101372873core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3101372873core:ListedExchangeTraded2024-01-012024-12-3101372873core:UnlistedNon-exchangeTraded2024-01-012024-12-3101372873core:MoreThanFiveYears2024-01-012024-12-3101372873core:Non-currentFinancialInstruments2024-12-3101372873core:Non-currentFinancialInstruments2023-12-3101372873dpl:CostSales2024-01-012024-12-3101372873dpl:DistributionCosts2024-01-012024-12-3101372873core:LandBuildings2024-01-012024-12-3101372873core:PlantMachinery2024-01-012024-12-3101372873core:Vehicles2024-01-012024-12-3101372873core:FurnitureFittings2024-01-012024-12-3101372873core:OfficeEquipment2024-01-012024-12-3101372873dpl:AdministrativeExpenses2024-01-012024-12-3101372873core:NetGoodwill2024-01-012024-12-3101372873core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3101372873dpl:GroupUndertakings2024-01-012024-12-3101372873dpl:ParticipatingInterests2024-01-012024-12-3101372873dpl:GroupUndertakingscore:ListedExchangeTraded2024-01-012024-12-3101372873core:ListedExchangeTraded2024-01-012024-12-3101372873dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2024-01-012024-12-3101372873core:UnlistedNon-exchangeTraded2024-01-012024-12-3101372873dpl:CostSales2023-01-012023-12-3101372873dpl:DistributionCosts2023-01-012023-12-3101372873core:LandBuildings2023-01-012023-12-3101372873core:PlantMachinery2023-01-012023-12-3101372873core:Vehicles2023-01-012023-12-3101372873core:FurnitureFittings2023-01-012023-12-3101372873core:OfficeEquipment2023-01-012023-12-3101372873dpl:AdministrativeExpenses2023-01-012023-12-3101372873core:NetGoodwill2023-01-012023-12-3101372873core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3101372873dpl:GroupUndertakings2023-01-012023-12-3101372873dpl:ParticipatingInterests2023-01-012023-12-3101372873dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3101372873core:ListedExchangeTraded2023-01-012023-12-3101372873dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3101372873core:UnlistedNon-exchangeTraded2023-01-012023-12-3101372873core:NetGoodwill2024-12-3101372873core:IntangibleAssetsOtherThanGoodwill2024-12-3101372873core:LandBuildings2024-12-3101372873core:PlantMachinery2024-12-3101372873core:Vehicles2024-12-3101372873core:FurnitureFittings2024-12-3101372873core:OfficeEquipment2024-12-3101372873core:AfterOneYear2024-12-3101372873core:WithinOneYear2024-12-3101372873core:ListedExchangeTraded2024-12-3101372873core:UnlistedNon-exchangeTraded2024-12-3101372873core:ShareCapital2024-12-3101372873core:SharePremium2024-12-3101372873core:RevaluationReserve2024-12-3101372873core:OtherReservesSubtotal2024-12-3101372873core:RetainedEarningsAccumulatedLosses2024-12-3101372873core:NetGoodwill2023-12-3101372873core:IntangibleAssetsOtherThanGoodwill2023-12-3101372873core:LandBuildings2023-12-3101372873core:PlantMachinery2023-12-3101372873core:Vehicles2023-12-3101372873core:FurnitureFittings2023-12-3101372873core:OfficeEquipment2023-12-3101372873core:AfterOneYear2023-12-3101372873core:WithinOneYear2023-12-3101372873core:Liste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RSJ STEELS (LINCOLN) LIMITED

Registered Number
01372873
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

RSJ STEELS (LINCOLN) LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

STAFFORD, Andrew
STAFFORD, Peter

Registered Address

Lincoln Industrial Park
Sadler Road
Lincoln
LN6 3RS

Registered Number

01372873 (England and Wales)
RSJ STEELS (LINCOLN) LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4349,192387,421
349,192387,421
Current assets
Stocks5206,428235,000
Debtors6636,564660,703
Cash at bank and on hand743,455509,193
1,586,4471,404,896
Creditors amounts falling due within one year7(818,337)(858,826)
Net current assets (liabilities)768,110546,070
Total assets less current liabilities1,117,302933,491
Provisions for liabilities8(52,400)(68,776)
Net assets1,064,902864,715
Capital and reserves
Called up share capital5,0005,000
Other reserves5,0005,000
Profit and loss account1,054,902854,715
Shareholders' funds1,064,902864,715
The financial statements were approved and authorised for issue by the Board of Directors on 26 March 2025, and are signed on its behalf by:
STAFFORD, Andrew
Director
Registered Company No. 01372873
RSJ STEELS (LINCOLN) LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Financial Instruments Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at transaction price. Financial liabilities – trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Foreign currency translation
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.
Current taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.
Intangible assets
The website has been amortised evenly over its estimated useful life of three years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided at the following annual rates: Plant & Machinery - 15/20% on reducing balance Motor Vehicles - 25% on reducing balance Fixtures & Fittings - 15% on reducing balance
Finance leases and hire purchase contracts
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at transaction price. Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.
2.Average number of employees

20242023
Average number of employees during the year1716
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 2415,80015,800
At 31 December 2415,80015,800
Amortisation and impairment
At 01 January 2415,80015,800
At 31 December 2415,80015,800
Net book value
At 31 December 24--
At 31 December 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 24457,695234,27023,093715,058
Additions2,36466,86749269,723
Disposals-(44,325)-(44,325)
At 31 December 24460,059256,81223,585740,456
Depreciation and impairment
At 01 January 24233,51474,14819,975327,637
Charge for year35,58649,84348085,909
On disposals-(22,282)-(22,282)
At 31 December 24269,100101,70920,455391,264
Net book value
At 31 December 24190,959155,1033,130349,192
At 31 December 23224,181160,1223,118387,421
5.Stocks

2024

2023

££
Raw materials and consumables206,428235,000
Total206,428235,000
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables626,406651,640
Other debtors243-
Prepayments and accrued income9,9159,063
Total636,564660,703
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables625,631517,981
Taxation and social security181,512261,121
Other creditors1,39774,536
Accrued liabilities and deferred income9,7975,188
Total818,337858,826
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)52,40068,776
Total52,40068,776
9.Related party transactions
Rent payable of £53,000 (2023: £53,000) is in respect of property owned by the R S J Steels (Lincoln) Limited Retirement Benefits Scheme. The directors are members and trustees of this scheme. This is considered to represent a normal commercial rent.