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REGISTERED NUMBER: 09292190 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Steel Peaks Ltd

Steel Peaks Ltd (Registered number: 09292190)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Statement of financial position 1 to 2

Notes to the financial statements 3 to 7


Steel Peaks Ltd (Registered number: 09292190)

Statement of Financial Position
30 November 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 33,140 43,003

Current assets
Debtors 6 35,318 74,362
Cash at bank 42,532 42,299
77,850 116,661
Creditors
Amounts falling due within one year 7 38,933 61,705
Net current assets 38,917 54,956
Total assets less current liabilities 72,057 97,959

Creditors
Amounts falling due after more than one
year

8

(26,590

)

(36,383

)

Provisions for liabilities (2,441 ) (2,603 )
Net assets 43,026 58,973

Capital and reserves
Called up share capital 11 10 10
Retained earnings 43,016 58,963
Shareholders' funds 43,026 58,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Steel Peaks Ltd (Registered number: 09292190)

Statement of Financial Position - continued
30 November 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 6 August 2025 and were signed by:





J Cripps - Director


Steel Peaks Ltd (Registered number: 09292190)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. Statutory information

Steel Peaks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09292190

Registered office: 16 Highlands Way
Stamford
Lincolnshire
PE9 2XJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
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.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Tangible fixed 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 asset includes directly attributable incremental costs incurred in their acquisition and installation.

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.


Steel Peaks Ltd (Registered number: 09292190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


3. Accounting policies - continued
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 statement of financial position date.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Steel Peaks Ltd (Registered number: 09292190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


3. Accounting policies - continued

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.



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.

4. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

5. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 December 2023 16,755 45,595 62,350
Additions 979 - 979
At 30 November 2024 17,734 45,595 63,329
Depreciation
At 1 December 2023 8,282 11,065 19,347
Charge for year 2,209 8,633 10,842
At 30 November 2024 10,491 19,698 30,189
Net book value
At 30 November 2024 7,243 25,897 33,140
At 30 November 2023 8,473 34,530 43,003

Steel Peaks Ltd (Registered number: 09292190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 11,350 44,895
Other Debtor 21,604 27,337
Prepayments 2,364 2,130
35,318 74,362

Included in other debtors is £21,604 (2023 - £27,337) recoverable CIS from HMRC.

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 9,687 12,332
Hire purchase contracts 5,683 5,682
Trade creditors 1,520 -
Corporation tax 15,173 26,757
Social security and other taxes - 1
VAT 1,363 9,910
Other creditors 2,000 4,000
Directors' loan accounts 2,207 1,973
Accrued expenses 1,300 1,050
38,933 61,705

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (see note 9) 10,962 15,074
Hire purchase contracts 15,628 21,309
26,590 36,383

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 2,740 -

9. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 7,631 12,332
Bank loans 2,056 -
9,687 12,332

Steel Peaks Ltd (Registered number: 09292190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


9. Loans - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - BBL 8,222 15,074

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 2,740 -

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 13,018 15,074
Hire purchase contracts 21,311 26,991
34,329 42,065

11. Called up share capital

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