Registration number: 05006805

Anacot Steel Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11

Anacot Steel Limited

Company Information

Director

Mr David Phillips

Registered office

1 Moreton Terrace Mews North London England SW1V 2NT

Accountants

Charter Tax Consulting Limited 8th Floor 1 Southampton Street London United Kingdom WC2R 0LR

Anacot Steel Limited

(Registration number: 05006805)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	5,524	7,365
Investment property	5	1,373,840	1,373,840
Investments	6	1,400,761	1,400,761
Other financial assets		510,307	-
		3,290,432	2,781,966
Current assets
Debtors	7	121,059	161,548
Cash at bank and in hand		126,310	634,899
		247,369	796,447
Creditors: Amounts falling due within one year	8	(18,917)	(15,092)
Net current assets		228,452	781,355
Total assets less current liabilities		3,518,884	3,563,321
Provisions for liabilities		(133,482)	(133,943)
Net assets		3,385,402	3,429,378
Capital and reserves
Called up share capital		1	1
Revaluation reserve		410,855	492,866
Retained earnings		2,974,546	2,936,511
Shareholders' funds		3,385,402	3,429,378

Anacot Steel Limited

(Registration number: 05006805)
Balance Sheet as at 31 December 2024

For the financial 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.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2025
 

Mr David Phillips Director

Anacot Steel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Moreton Terrace Mews North
London
England
SW1V 2NT

These financial statements were authorised for issue by the director on 25 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared and presented in pound sterling (£) which is the functional currency of the Company. The financial statements have been rounded to the nearest whole £.

Going concern

The financial statements have been prepared on a going concern basis.

The Director has considered the appropriateness of adopting the going concern basis for the financial statements. The Company continues to receive a steady cash flow on its investments of which continue to grow. Therefore, the Director has concluded that it is appropriate to adopt the going concern basis for preparing the financial statements.

Judgements

No significant judgements have been made by management in the preparation of these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Anacot Steel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The Company recognises revenue when:
• The amount of revenue can be reliably measured; and
• It is probable that future economic benefits will flow to the entity; and
• Specific criteria have been met for each of the Company's activities.

Finance income and costs policy

The Company earns finance income on bank deposits and on loans to related parties. Both sources of interest income are recognised in the profit or loss using the effective interest method.

The Company has no interest expenditure.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax and deferred tax. Tax charges are recognised in profit or loss, A transfer from the profit or loss to the revaluation reserve is made on tax charges and deferred tax charges arising from assets and liabilities held at fair value.

The Company has no tax charges nor deferred tax charges relating to items recognised through other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Anacot Steel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. The Company has elected to transfer accumulated revaluation gains net of deferred tax charges to a separate revaluation reserve.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. The Company has elected to transfer accumulated revaluation gains net of deferred tax charges to a separate revaluation reserve.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

The Company has recognised all investments in associates and joint ventures using the historic cost model and has elected not to use equity accounting in recognising such investments.

Other investments, which include interests in unincorporated entities are recognised at historic cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

The Company has deposits in fixed-term and fixed-rate interest accounts. Such deposits are judged to have a short maturity as defined under FRS 102 s.7.2 and are therefore recognised under cash and cash equivalents.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Accrued income

Anacot Steel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The Company recognises an accrued income asset for distributions due from investment properties held. The income is rental profits that the investment property has generated and is to be distributed to the beneficial owners of the investment property.

The Company has also recognised an accrued income asset from an investment held within other investments. The investment is recognised under cost accounting rules and is outside the scope of the provisions for equity accounting. The Company recognises its share of rental profits earned by the investment of which the investee is under obligation to distribute to the Company.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Anacot Steel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Revaluation reserve

The Company has no other comprehensive income.

The Company has elected to present a separate component of retained earnings within equity for fair value gains and losses that are recognised on investment property and investments that are measured at fair value through the profit or loss.

The revaluation reserve comprises of unrealised fair value gains and losses recognised in the profit or loss, less of any tax or deferred tax charges in the profit or loss in relation to the fair value movements. Each year, a transfer is made from retained earnings to the revaluation reserve.

Financial instruments

The Company has elected to apply the provision of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments. The Company only has basic financial instruments.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets an liabilities are offset, with the net amounts being presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable with one year are not amortised.

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2023 - 1).

Anacot Steel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost
At 1 January 2024	16,364	16,364
At 31 December 2024	16,364	16,364
Depreciation
At 1 January 2024	8,999	8,999
Charge for the year	1,841	1,841
At 31 December 2024	10,840	10,840
Carrying amount
At 31 December 2024	5,524	5,524
At 31 December 2023	7,365	7,365

5	Investment properties

	2024 £
At 1 January	1,373,840
Additions	82,472
Fair value adjustments	(82,472)
At 31 December	1,373,840

Fair value is determined by an expert third party, Colliers. They have provided valuation of the investment property as of January 2024. The Director has reviewed current valuations and has determined that the carrying value is the fair value of the assets.

The historic cost in relation to the purchase of investment property is £1,006,236 (2023 - £923,763).

6	Investments

	2024 £	2023 £
Investments in joint ventures	1,141,137	1,141,137
Other non-current investments	259,624	259,624
	1,400,761	1,400,761

Page 9

Anacot Steel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024