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REGISTERED NUMBER: 01539662 (England and Wales)















FENDER STEEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






FENDER STEEL LIMITED (REGISTERED NUMBER: 01539662)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


FENDER STEEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: L G Norris
C Norris
Mrs C S Norris





SECRETARY: Mrs C S Norris





REGISTERED OFFICE: 20 Midland Road
Scunthorpe
North Lincolnshire
DN16 1DQ





REGISTERED NUMBER: 01539662 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

FENDER STEEL LIMITED (REGISTERED NUMBER: 01539662)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,043,017 964,377

CURRENT ASSETS
Stocks 499,999 705,819
Debtors 5 1,288,926 871,105
Cash at bank and in hand 15,874 791,024
1,804,799 2,367,948
CREDITORS
Amounts falling due within one year 6 928,888 1,360,321
NET CURRENT ASSETS 875,911 1,007,627
TOTAL ASSETS LESS CURRENT LIABILITIES 1,918,928 1,972,004

CREDITORS
Amounts falling due after more than one year 7 (12,231 ) (36,390 )

PROVISIONS FOR LIABILITIES (74,448 ) (68,092 )
NET ASSETS 1,832,249 1,867,522

CAPITAL AND RESERVES
Called up share capital 9 84 84
Capital redemption reserve 17 17
Retained earnings 1,832,148 1,867,421
SHAREHOLDERS' FUNDS 1,832,249 1,867,522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 Board of Directors and authorised for issue on 7 August 2025 and were signed on its behalf by:




L G Norris - Director


FENDER STEEL LIMITED (REGISTERED NUMBER: 01539662)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Fender Steel 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.

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


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 net of Value Added Tax and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of construction supplies & accessories is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the cost incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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.
Leasehold land and buildings - 25% on cost, 15% on cost and 2% on cost
Plant and machinery etc - 40% on reducing balance, 25% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FENDER STEEL LIMITED (REGISTERED NUMBER: 01539662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and are depreciated over their useful lives.

Obligations under such agreements are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charges on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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 the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and
land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 841,647 1,510,227 2,351,874
Additions - 251,960 251,960
Disposals - (153,664 ) (153,664 )
At 31 December 2024 841,647 1,608,523 2,450,170
DEPRECIATION
At 1 January 2024 251,634 1,135,863 1,387,497
Charge for year 17,449 121,588 139,037
Eliminated on disposal - (119,381 ) (119,381 )
At 31 December 2024 269,083 1,138,070 1,407,153
NET BOOK VALUE
At 31 December 2024 572,564 470,453 1,043,017
At 31 December 2023 590,013 374,364 964,377


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 774,675 549,244
Other debtors 514,251 321,861
1,288,926 871,105

FENDER STEEL LIMITED (REGISTERED NUMBER: 01539662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,204 9,952
Hire purchase contracts 2,498 54,234
Trade creditors 718,410 1,018,947
Taxation and social security 61,657 62,383
Other creditors 136,119 214,805
928,888 1,360,321

Other creditors include an amount of £127,369 (2023: £nil) in respect of an invoice discounting facility.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 12,231 22,435
Hire purchase contracts - 13,955
12,231 36,390

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 22,435 32,387
Hire purchase contracts 2,498 68,189
24,933 100,576

Bank borrowings are secured by a fixed and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
84 Ordinary £1 84 84

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have a directors loan account totalling £44,216 brought forward (2023: £44,216). During the year, the directors of the company repaid £8,500 (2023: £NIL) and withdrew £Nil (2023: £NIL). Interest was charged on the overdrawn directors loan account of £905. The balance at the end of the year totalled £36,621 overdrawn (2023: £44,216 overdrawn).