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REGISTERED NUMBER: 03636348 (England and Wales)















PROCESS STEELS LIMITED

Unaudited Financial Statements for the Year Ended 31 October 2024






PROCESS STEELS LIMITED (REGISTERED NUMBER: 03636348)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROCESS STEELS LIMITED

Company Information
for the Year Ended 31 October 2024







DIRECTOR: D J Coke





SECRETARY: Mrs S M Coke





REGISTERED OFFICE: Unit 24
Darlaston Central Trading Estate
Salisbury Street
Darlaston
West Midlands
WS10 8XB





REGISTERED NUMBER: 03636348 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

PROCESS STEELS LIMITED (REGISTERED NUMBER: 03636348)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,993 70,977

CURRENT ASSETS
Stocks 8,000 11,500
Debtors 5 1,024,691 130,984
Cash at bank 1,479,427 2,282,571
2,512,118 2,425,055
CREDITORS
Amounts falling due within one year 6 487,490 598,398
NET CURRENT ASSETS 2,024,628 1,826,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,076,621

1,897,634

PROVISIONS FOR LIABILITIES 2,929 17,745
NET ASSETS 2,073,692 1,879,889

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 2,073,592 1,879,789
SHAREHOLDERS' FUNDS 2,073,692 1,879,889

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

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

The director acknowledges his 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.

PROCESS STEELS LIMITED (REGISTERED NUMBER: 03636348)

Balance Sheet - continued
31 October 2024


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 director and authorised for issue on 2 July 2025 and were signed by:





D J Coke - Director


PROCESS STEELS LIMITED (REGISTERED NUMBER: 03636348)

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

1. STATUTORY INFORMATION

Process Steels 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.

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 - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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.

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.

PROCESS STEELS LIMITED (REGISTERED NUMBER: 03636348)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2023 123,984 10,146 73,048 207,178
Additions 2,583 261 - 2,844
At 31 October 2024 126,567 10,407 73,048 210,022
DEPRECIATION
At 1 November 2023 106,851 6,522 22,828 136,201
Charge for year 7,400 1,873 12,555 21,828
At 31 October 2024 114,251 8,395 35,383 158,029
NET BOOK VALUE
At 31 October 2024 12,316 2,012 37,665 51,993
At 31 October 2023 17,133 3,624 50,220 70,977

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 286,730 118,890
Directors' current accounts 716,827 -
Prepayments 21,134 12,094
1,024,691 130,984

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 261,162 233,452
Social security and other taxes 131,669 131,952
VAT 48,264 52,090
Other creditors 4,079 4,164
Directors' current accounts - 135,951
Accrued expenses 42,316 40,789
487,490 598,398

PROCESS STEELS LIMITED (REGISTERED NUMBER: 03636348)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary A £1 10 10

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
90 Share capital 1 £1 90 90

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
D J Coke
Balance outstanding at start of year 135,951 83,586
Amounts advanced (852,778 ) -
Amounts repaid - 52,365
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (716,827 ) 135,951

9. RELATED PARTY DISCLOSURES

Rent of £55,000 (2023: £42,000) was charged in the year for use of the trading premises by the director.

10. ULTIMATE CONTROLLING PARTY

The controlling party is D J Coke.