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Registered number: 02691109
Steam Powered Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 02691109
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 359,708 459,275
359,708 459,275
CURRENT ASSETS
Debtors 5 6,000 -
Cash at bank and in hand 14,137 9,951
20,137 9,951
Creditors: Amounts Falling Due Within One Year 6 (1,268,215 ) (1,332,900 )
NET CURRENT ASSETS (LIABILITIES) (1,248,078 ) (1,322,949 )
TOTAL ASSETS LESS CURRENT LIABILITIES (888,370 ) (863,674 )
NET LIABILITIES (888,370 ) (863,674 )
CAPITAL AND RESERVES
Called up share capital 7 12,000 12,000
Profit and Loss Account (900,370 ) (875,674 )
SHAREHOLDERS' FUNDS (888,370) (863,674)
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Best
Director
29 May 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Steam Powered Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02691109 . The registered office is 60 High Street, Avening, Tetbury, Gloucestershire, GL8 8NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The director continues to support the company and plans to do so for the foreseeable future.  The financial statements have therefore been prepared on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% Straight line
Computer Equipment 33.33% Straight line
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 1,086,995 722 1,087,717
As at 31 March 2025 1,086,995 722 1,087,717
Depreciation
As at 1 April 2024 627,720 722 628,442
Provided during the period 99,567 - 99,567
As at 31 March 2025 727,287 722 728,009
Net Book Value
As at 31 March 2025 359,708 - 359,708
As at 1 April 2024 459,275 - 459,275
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,958 -
Prepayments and accrued income 4,042 -
6,000 -
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 1,704
Other taxes and social security 968 941
VAT 767 831
Accruals and deferred income 1,145 975
Director's loan account 1,265,335 1,328,449
1,268,215 1,332,900
7. Share Capital
2025 2024
Allotted, called up but not fully paid £ £
12,000 Ordinary Shares of £ 1.00 each 12,000 12,000
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