NL Steelfixing Limited 31/12/2024 iXBRL

Company registration number: 7959190

NL Steelfixing Limited

Unaudited filleted financial statements

31 December 2024

NL Steelfixing Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

NL Steelfixing Limited

Directors and other information


Directors	Mr Stephen Dupuy	(Resigned 21 August 2024)
	Mr Neil Lodge


Company number	7959190


Registered office	82 West Street
	Rochford
	Essex
	SS4 1AS


Accountants	Murphy Collins Limited
	Sovereign House
	82 West Street
	Rochford
	Essex
	SS4 1AS

NL Steelfixing Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of NL Steelfixing Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NL Steelfixing Limited for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of NL Steelfixing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of NL Steelfixing Limited and state those matters that we have agreed to state to the board of directors of NL Steelfixing Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NL Steelfixing Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that NL Steelfixing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NL Steelfixing Limited. You consider that NL Steelfixing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of NL Steelfixing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Murphy Collins Limited

Sovereign House

82 West Street

Rochford

Essex

SS4 1AS

5 June 2025

NL Steelfixing Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	7	457		845
		_______		_______
			457		845

Current assets
Debtors	8	11,631		14,405
Cash at bank and in hand		1		1,990
		_______		_______
		11,632		16,395
Creditors: amounts falling due
within one year	9	( 35,804)		( 12,750)
		_______		_______
Net current (liabilities)/assets			( 24,172)		3,645
			_______		_______
Total assets less current liabilities			( 23,715)		4,490

Creditors: amounts falling due
after more than one year	10		( 11,611)		( 15,278)

Provisions for liabilities	11		( 86)		( 161)

			_______		_______
Net liabilities			( 35,412)		( 10,949)
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			( 35,414)		( 10,951)
			_______		_______
Shareholders deficit			( 35,412)		( 10,949)
			_______		_______

For the year ending 31 December 2024 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 statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 05 June 2025 , and are signed on behalf of the board by:

Mr Neil Lodge

Director

NL Steelfixing Limited

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 January 2023	2	( 5,172)	( 5,170)

Profit for the year		18,221	18,221
	_______	_______	_______
Total comprehensive income for the year	-	18,221	18,221

Dividends paid and payable		( 24,000)	( 24,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 24,000)	( 24,000)

	_______	_______	_______
At 31 December 2023 and 1 January 2024	2	( 10,951)	( 10,949)

Profit for the year		11,037	11,037
	_______	_______	_______
Total comprehensive income for the year	-	11,037	11,037

Dividends paid and payable		( 35,500)	( 35,500)
	_______	_______	_______
Total investments by and distributions to owners	-	( 35,500)	( 35,500)

	_______	_______	_______
At 31 December 2024	2	( 35,414)	( 35,412)
	_______	_______	_______

NL Steelfixing Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Sovereign House, 82 West Street, Rochford, Essex, SS4 1AS.

2. 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'.

3. 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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 %	straight line
Fittings fixtures and equipment	-	25 %	straight line

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£
Current tax:
UK current tax expense	2,662	4,347
	_______	_______

Deferred tax:
Origination and reversal of timing differences	( 74)	67
	_______	_______
Tax on profit	2,588	4,414
	_______	_______

6. Dividends

Equity dividends

	2024	2023
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	35,500	12,000
	_______	_______

7. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	2,365	1,122	3,487
	_______	_______	_______
Depreciation
At 1 January 2024	1,788	855	2,643
Charge for the year	243	144	387
	_______	_______	_______
At 31 December 2024	2,031	999	3,030
	_______	_______	_______
Carrying amount
At 31 December 2024	334	123	457
	_______	_______	_______
At 31 December 2023	577	267	844
	_______	_______	_______

8. Debtors

	2024	2023
	£	£
Trade debtors	5,493	2,150
Other debtors	6,138	12,255
	_______	_______
	11,631	14,405
	_______	_______

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	9,582	5,727
Trade creditors	237	242
Corporation tax	2,647	4,347
Other creditors	23,338	2,434
	_______	_______
	35,804	12,750
	_______	_______

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	11,611	15,278
	_______	_______

11. Provisions

	Deferred tax (note 12)	Total
	£	£
At 1 January 2024	160	160
Additions	( 74)	( 74)
	_______	_______
At 31 December 2024	86	86
	_______	_______

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 11)	86	161
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	86	161
	_______	_______

Provision is made in full for deferred taxation using the liability method to take account of timing differences between the incidence of income and expenditure for taxation and accounting purposes.

13. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Stephen Dupuy	( 227)	19,198	( 18,971)	-
	Mr Neil Lodge	( 227)	57,068	( 56,927)	( 86)
		_______	_______	_______	_______
		( 454)	76,266	( 75,898)	( 86)
		_______	_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Stephen Dupuy	( 192)	27,181	( 27,216)	( 227)
	Mr Neil Lodge	( 192)	27,181	( 27,216)	( 227)
		_______	_______	_______	_______
		( 384)	54,362	( 54,432)	( 454)
		_______	_______	_______	_______

14. Controlling party

Mr N Lodge controls the company

15. Going concern

The company loan is guaranteed personally by the director.