17 01/02/2024 31/01/2025 2025-01-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2024-02-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 05647111 2024-02-01 2025-01-31 05647111 2025-01-31 05647111 2024-01-31 05647111 2023-02-01 2024-01-31 05647111 2024-01-31 05647111 2023-01-31 05647111 core:PlantMachinery 2024-02-01 2025-01-31 05647111 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 05647111 core:MotorVehicles 2024-02-01 2025-01-31 05647111 bus:Director1 2024-02-01 2025-01-31 05647111 core:WithinOneYear 2025-01-31 05647111 core:WithinOneYear 2024-01-31 05647111 core:ShareCapital 2025-01-31 05647111 core:ShareCapital 2024-01-31 05647111 core:RetainedEarningsAccumulatedLosses 2025-01-31 05647111 core:RetainedEarningsAccumulatedLosses 2024-01-31 05647111 bus:SmallEntities 2024-02-01 2025-01-31 05647111 bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 05647111 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 05647111 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 05647111 bus:AbridgedAccounts 2024-02-01 2025-01-31
Company registration number: 05647111
N T Steel Services Ltd
Unaudited filleted abridged financial statements
31 January 2025
N T Steel Services Ltd
Contents
Abridged statement of financial position
Notes to the financial statements
N T Steel Services Ltd
Abridged statement of financial position
31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 3 162,955 40,648
_______ _______
162,955 40,648
Current assets
Stocks 127,106 102,258
Debtors 357,138 410,664
Cash at bank and in hand 557,865 783,914
_______ _______
1,042,109 1,296,836
Creditors: amounts falling due
within one year ( 353,354) ( 440,086)
_______ _______
Net current assets 688,755 856,750
_______ _______
Total assets less current liabilities 851,710 897,398
_______ _______
Net assets 851,710 897,398
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 851,708 897,396
_______ _______
Shareholders funds 851,710 897,398
_______ _______
For the year ending 31 January 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 27 May 2025 , and are signed on behalf of the board by:
Mr Nigel Swanson
Director
Company registration number: 05647111
N T Steel Services Ltd
Notes to the financial statements
Year ended 31 January 2025
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
3. Tangible assets
£
Cost
At 1 February 2024 270,693
Additions 165,430
Disposals ( 45,100)
_______
At 31 January 2025 391,023
_______
Depreciation
At 1 February 2024 230,045
Charge for the year 29,587
Disposals ( 31,564)
_______
At 31 January 2025 228,068
_______
Carrying amount
At 31 January 2025 162,955
_______
At 31 January 2024 40,648
_______