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Registration number: 03114905

Steele Safety Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Steele Safety Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Steele Safety Limited

(Registration number: 03114905)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

11,648

14,149

Current assets

 

Debtors

5

35,448

32,746

Cash at bank and in hand

 

176,786

136,841

 

212,234

169,587

Creditors: Amounts falling due within one year

6

(30,806)

(33,852)

Net current assets

 

181,428

135,735

Total assets less current liabilities

 

193,076

149,884

Provisions for liabilities

(2,912)

(3,538)

Net assets

 

190,164

146,346

Capital and reserves

 

Called up share capital

2

2

Retained earnings

190,162

146,344

Shareholders' funds

 

190,164

146,346

 

Steele Safety Limited

(Registration number: 03114905)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 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 and 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 16 July 2025 and signed on its behalf by:
 

.........................................
Ms F.E. Greaves
Director

 

Steele Safety Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Little Bullington
Sutton Scotney
Winchester
Hampshire
SO21 3QQ
England

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

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.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

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.

 

Steele Safety Limited

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

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:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Computer equipment

20% straight line

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.

Debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Steele Safety Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

4,523

48,245

28,634

81,402

Additions

550

-

4,059

4,609

At 31 October 2024

5,073

48,245

32,693

86,011

Depreciation

At 1 November 2023

4,034

47,002

16,217

67,253

Charge for the year

260

311

6,539

7,110

At 31 October 2024

4,294

47,313

22,756

74,363

Carrying amount

At 31 October 2024

779

932

9,937

11,648

At 31 October 2023

489

1,243

12,417

14,149

5

Debtors

Current

2024
£

2023
£

Trade debtors

34,685

25,020

Other debtors

763

7,726

 

35,448

32,746

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

20,277

20,340

Other creditors

10,529

13,512

30,806

33,852

 

Steele Safety Limited

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

7

Related party transactions

Other transactions with directors

Included in other creditors is a balance due to the directors of £8,254 (2023 - £8,254).