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REGISTERED NUMBER: 02050406 (England and Wales)















Financial Statements for the Year Ended 31 January 2025

for

FRANKLIN STEEL STOCKHOLDERS LTD

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANKLIN STEEL STOCKHOLDERS LTD

Company Information
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: B D Phillips
R Wealleans
M S C Wallace
I A Robinson
Mr R W Phillips





SECRETARY: R Wealleans





REGISTERED OFFICE: Franklin Industrial Estate
Blaydon Haugh
Tyne & Wear
NE21 5TL





REGISTERED NUMBER: 02050406 (England and Wales)





ACCOUNTANTS: Sagoo & Co
Chartered Accountants
63 The Grove
Ealing
London
W5 5LL

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Balance Sheet
31 JANUARY 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,553,181 5,774,185

CURRENT ASSETS
Stocks 5 783,474 849,237
Debtors 6 1,652,756 1,317,422
Cash at bank and in hand 1,122,927 465,840
3,559,157 2,632,499
CREDITORS
Amounts falling due within one year 7 1,451,748 1,159,408
NET CURRENT ASSETS 2,107,409 1,473,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,660,590

7,247,276

CREDITORS
Amounts falling due after more than one
year

8

(1,272,585

)

(1,393,732

)

PROVISIONS FOR LIABILITIES (132,408 ) (157,316 )
NET ASSETS 6,255,597 5,696,228

CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Revaluation reserve 11 750,000 750,000
Retained earnings 11 5,455,597 4,896,228
SHAREHOLDERS' FUNDS 6,255,597 5,696,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Balance Sheet - continued
31 JANUARY 2025


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 Mr BD Phillips the Board of Directors and authorised for issue on 14 August 2025 and were signed on its behalf by:





B D Phillips - Director


FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

Franklin Steel Stockholders Ltd 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 as modified by the revaluation of certain assets.

Turnover and revenue recognition
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. The revenue is recognised for the services as the services are performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Long leasehold - on length of lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Land is not depreciated.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at 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 gains and losses are recognised in the profit and loss account.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will be able to meet its liabilities as they fall due, for a period of at length twelve months from the date of approval of the financial statements.

Investment property
Certain of the group's properties are held for long-term investment .Investment properties are accounted for in accordance with SSAP19 . The investment properties are not depreciated and are revalued at regular intervals. Although companies Act would normally require the systematic depreciation of fixed assets , the directors believe that the policy of not providing depreciation is necessary in order to give a true and fair view since the current values are of prime importance than the systematic annual depreciation

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 26 ).

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 February 2024 5,145,211 142,471 863,506
Additions - - 3,266
Disposals - (142,471 ) -
At 31 January 2025 5,145,211 - 866,772
DEPRECIATION
At 1 February 2024 138,069 33,215 642,622
Charge for year 10,904 1,218 33,623
Eliminated on disposal - (34,433 ) -
At 31 January 2025 148,973 - 676,245
NET BOOK VALUE
At 31 January 2025 4,996,238 - 190,527
At 31 January 2024 5,007,142 109,256 220,884

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2024 276,216 714,903 181,465 7,323,772
Additions 3,965 57,990 125 65,346
Disposals - (39,944 ) - (182,415 )
At 31 January 2025 280,181 732,949 181,590 7,206,703
DEPRECIATION
At 1 February 2024 227,419 343,557 164,705 1,549,587
Charge for year 7,915 101,051 4,221 158,932
Eliminated on disposal - (20,564 ) - (54,997 )
At 31 January 2025 235,334 424,044 168,926 1,653,522
NET BOOK VALUE
At 31 January 2025 44,847 308,905 12,664 5,553,181
At 31 January 2024 48,797 371,346 16,760 5,774,185

Included in cost or valuation of land and buildings is freehold land of £ 406,404 ( 2018 £406,404 ) which is not depreciated .
Freehold land and buildings were professionally valued on an open market basis on 31st January 2013 . The directors have carried out an impairment review as at 31January 2022 and in their opinion the fair value of the properties is £9,200,000.

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2025 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2004 1,000,000 - -
Valuation in 2011 (250,000 ) - -
Cost 4,395,211 866,772 280,181
5,145,211 866,772 280,181

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2004 - - 1,000,000
Valuation in 2011 - - (250,000 )
Cost 732,949 181,590 6,456,703
732,949 181,590 7,206,703

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 February 2024
and 31 January 2025 87,500 331,572 419,072
DEPRECIATION
At 1 February 2024
and 31 January 2025 27,815 67,964 95,779
NET BOOK VALUE
At 31 January 2025 59,685 263,608 323,293
At 31 January 2024 59,685 263,608 323,293

5. STOCKS
31.1.25 31.1.24
£    £   
Stocks 823,389 849,237
Finished goods (39,915 ) -
783,474 849,237

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025

6. DEBTORS
31.1.25 31.1.24
£    £   
Amounts falling due within one year:
Trade debtors 901,365 712,607
Debtors provision (36,709 ) -
Other debtors 26,354 25,760
Directors' current accounts 526,292 497,169
Prepayments and accrued income 67,659 81,886
1,484,961 1,317,422

Amounts falling due after more than one year:
S 456 Tax 167,795 -

Aggregate amounts 1,652,756 1,317,422

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans and overdrafts (secured) (see note 9)
133,332

133,332
Hire purchase contracts 45,569 76,564
Trade creditors 808,641 540,597
Tax 187,441 168,883
Social security and other taxes 25,368 23,822
VAT 121,100 125,211
Accruals and deferred income 81,166 45,306
Accrued expenses 49,131 45,693
1,451,748 1,159,408

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.25 31.1.24
£    £   
Bank loans (see note 9) 1,266,013 1,333,340
Hire purchase contracts 6,572 60,392
1,272,585 1,393,732

Amounts falling due in more than five years:

Repayable by instalments
Bank loans (secured) more than
5 years 732,685 800,012
732,685 800,012

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025

9. LOANS

An analysis of the maturity of loans is given below:

31.1.25 31.1.24
£    £   
Amounts falling due within one year or on demand:
Bank loans (secured) 133,332 133,332

Amounts falling due between one and two years:
Bank loans (secured) 133,332 133,332

Amounts falling due between two and five years:
Bank loans (secured) 399,996 399,996

Amounts falling due in more than five years:

Repayable by instalments
Bank loans (secured) more than
5 years 732,685 800,012
732,685 800,012

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
50,000 Ordinary £1 50,000 50,000

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2024 4,896,228 750,000 5,646,228
Profit for the year 587,719 587,719
Dividends (28,350 ) (28,350 )
At 31 January 2025 5,455,597 750,000 6,205,597

FRANKLIN STEEL STOCKHOLDERS LTD (REGISTERED NUMBER: 02050406)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2025

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25 31.1.24
£    £   
B D Phillips
Balance outstanding at start of year 497,169 -
Amounts advanced - 497,169
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 497,169 497,169

R Wealleans
Balance outstanding at start of year - -
Amounts advanced 30,000 -
Amounts repaid (30,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

13. RELATED PARTY DISCLOSURES

The controlling party is B D Phillips.

The ultimate controlling party is B D Phillips.