REGISTERED NUMBER: 04496691 (England and Wales)

STATION ROAD STEAM LIMITED

UNAUDITED 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

DIRECTORS:

M C Palmer

Mrs J Palmer

SECRETARY:

M C Palmer

REGISTERED OFFICE:

16-17 Moorlands Trading Estate

Metheringham

Lincoln

LN4 3HX

REGISTERED NUMBER:

04496691 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

300,269

287,408

CURRENT ASSETS

Stocks

647,781

632,160

Debtors

5

8,002

23,645

Cash at bank

-

25,832

655,783

681,637

CREDITORS

Amounts falling due within one year

6

288,398

309,332

NET CURRENT ASSETS

367,385

372,305

TOTAL ASSETS LESS CURRENT LIABILITIES

667,654

659,713

PROVISIONS FOR LIABILITIES

7,788

3,334

NET ASSETS

659,866

656,379

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

659,766

656,279

SHAREHOLDERS' FUNDS

659,866

656,379

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 25 March 2025 and were signed on its behalf by:

M C Palmer - Director

1.	STATUTORY INFORMATION

Station Road Steam 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 VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of locomotives 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 costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost and Nil

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

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 and work in progress

Stocks are valued 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.

Work in progress is stated at the lower of cost and estimated invoice price less costs expected to be incurred to completion.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the income statement in the period in which they relate.

Rental income

Rental income is recognised in the income statement on a straight-line basis over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

282,691

132,232

414,923

Additions

-

27,106

27,106

Disposals

-

(44,446

)

(44,446

)

At 31 December 2024

282,691

114,892

397,583

DEPRECIATION

At 1 January 2024

10,225

117,290

127,515

Charge for year

4,571

9,674

14,245

Eliminated on disposal

-

(44,446

)

(44,446

)

At 31 December 2024

14,796

82,518

97,314

NET BOOK VALUE

At 31 December 2024

267,895

32,374

300,269

At 31 December 2023

272,466

14,942

287,408

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

5,064

20,406

Other debtors

2,938

3,239

8,002

23,645

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

62,034

-

Trade creditors

6,313

15,328

Taxation and social security

28,190

26,733

Other creditors

191,861

267,271

288,398

309,332

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdraft

62,034

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

200

Ordinary Shares

£0.50

100

100

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the statement of financial position amount to £7,251 (2023: £14,574).