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REGISTERED NUMBER: 07213923 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Steel Core Designs Limited

Steel Core Designs Limited (Registered number: 07213923)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Steel Core Designs Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: M Cherry
I Harper





REGISTERED OFFICE: 51 The Stream
Ditton
Aylesford
Kent
ME20 6AG





REGISTERED NUMBER: 07213923 (England and Wales)





ACCOUNTANTS: Zenon Tax Limited
51 The Stream
Ditton
Aylesford
Kent
ME20 6AG

Steel Core Designs Limited (Registered number: 07213923)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - 10,288

CURRENT ASSETS
Stocks 1,482,872 1,214,721
Debtors 5 1,281,342 885,201
Cash at bank and in hand 1,614 1,353
2,765,828 2,101,275
CREDITORS
Amounts falling due within one year 6 9,086,221 7,511,510
NET CURRENT LIABILITIES (6,320,393 ) (5,410,235 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,320,393 ) (5,399,947 )

PROVISIONS FOR LIABILITIES - 3,045
NET LIABILITIES (6,320,393 ) (5,402,992 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (6,320,493 ) (5,403,092 )
SHAREHOLDERS' FUNDS (6,320,393 ) (5,402,992 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





M Cherry - Director


Steel Core Designs Limited (Registered number: 07213923)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Steel Core Designs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company meets its day to day working capital requirements through financial support from its shareholders. The business has been working on the fulfilment of new contracts which were delivered in late 2024, after the year end. Work is ongoing for delivery in 2025/26. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of its financial support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost and 20% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 50% on cost and 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Steel Core Designs Limited (Registered number: 07213923)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023
and 31 July 2024 179,082 29,064 12,500 42,415 263,061
DEPRECIATION
At 1 August 2023 168,794 29,064 12,500 42,415 252,773
Charge for year 10,288 - - - 10,288
At 31 July 2024 179,082 29,064 12,500 42,415 263,061
NET BOOK VALUE
At 31 July 2024 - - - - -
At 31 July 2023 10,288 - - - 10,288

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 33,243 492,467
Other debtors 410,580 312,050
VAT 70,541 71,660
Prepayments and accrued income 766,978 9,024
1,281,342 885,201

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans 8,331,930 6,920,666
Trade creditors 525,465 361,551
Tax (87 ) -
Social security and other taxes 21,944 19,094
Other creditors 184,897 174,331
Directors' current accounts 5,002 185
Accrued expenses 17,070 35,683
9,086,221 7,511,510

Steel Core Designs Limited (Registered number: 07213923)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
I Harper
Balance outstanding at start of year (185 ) (2,009 )
Amounts advanced 185 1,824
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (185 )

8. ULTIMATE CONTROLLING PARTY

The directors consider the ultimate controlling party is Michael Cherry.