Brian McCance (Steel) Limited

	Page
Company Information	1
Strategic Report	2
Directors' Report	3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Statement of Cash Flows	12
Notes to the Financial Statements	13—19

Page 1

Page 2

Strategic Report

For The Year Ended 30 September 2024

Strategic Report

The directors present their strategic report for the year ended 30 September 2024.

Review of the Business

The results for the year show a pre-tax profit of £175,173 compared to £150,097 in the previous year. Gross profit for the year was 16.1% (2023: 13.1%). The company has net funds of £3,658,065 (2023: net funds £3,614,515).

The external commercial environment is expected to be very challenging in the following year, however we are confident our current level of performance can be maintained or improved in the future.

Principal Risks and Uncertainties

The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the business are considered to relate to competition and the general economic climate.

On behalf of the board

Mr John Welsh

Director

29 September 2025

Page 2

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Brian McCance (Steel) Limited

Company No. NI011457

Directors' Report For The Year Ended 30 September 2024

Directors' Report

The directors present their report and the financial statements for the year ended 30 September 2024.

Principal Activity

The company's principal activity continues to be that of steel stockholding.

Directors

The directors who held office during the year were as follows:

Mrs Evelyn Patricia McCance
Professor Tanya Violet McCance
Mr John Welsh
Mr Mark Kyle McCance	Appointed	27/11/2024
Miss Melissa Carolaine McCance	Appointed	27/11/2024

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, McCleary & Company Ltd., have indicated their willingness to continue in office. A resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr John Welsh

Director

29 September 2025

Page 3

Page 4

Independent Auditor's Report

to the Members of

Brian McCance (Steel) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Brian McCance (Steel) Limited for the year ended 30 September 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Page 4

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Independent Auditor's Report (continued)

to the Members of

Brian McCance (Steel) Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Having considered the nature of the business and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to breaches of health and safety laws and the potential for Fraud. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered the laws and regulations that do not have a direct impact on the preparation of the financial statements but compliance with which may be fundamental to the Company's ability to operate, such as the Companies Act 2006. We evaluated the management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to year end cut-off. Audit procedures performed included:

- Assessment of compliance with key laws and regulations;

- Enquiry of those charged with management including any known or suspected instances of non-compliance with laws and regulations, potential litigation and fraud;

- Identifying and testing journal entries for appropriateness, evaluating the rationale for significant transactions outside what is normal for the company and assessing whether the judgments made in making accounting estimates are indicative of potential bias, in order to assess the risk of fraud through management override of controls;

- Detailed year end cut-off and goods in transit testing;

- Analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- Reviewing the disclosures in the financial statements against the specific legal requirements.

We communicated relevant identified laws and regulations and potential fraud risks to all engagement team

members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures outlined above. We are less likely to become aware of

instances with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Page 5

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Independent Auditor's Report (continued)

to the Members of

Brian McCance (Steel) Limited

Ross McDonald (Senior Statutory Auditor)

for and on behalf of McCleary & Company Ltd. , Statutory Auditor

29 September 2025

McCleary & Company Ltd.

Quaker Buildings

High Street

Lurgan

Craigavon

BT66 8BB

Page 6

Page 7

Brian McCance (Steel) Limited

Profit and Loss Account

For The Year Ended 30 September 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER	3	9,782,430	11,180,476
Cost of sales		(8,209,390 )	(9,712,759 )

GROSS PROFIT		1,573,040	1,467,717

Distribution costs		(492,835 )	(445,308 )
Administrative expenses		(1,009,972 )	(904,566 )

OPERATING PROFIT	4	70,233	117,843
Fair value gains on investments		84,610	20,066
Other interest receivable and similar income	9	20,410	12,487
Interest payable and similar charges	10	(80 )	(299 )

PROFIT BEFORE TAXATION		175,173	150,097
Tax on Profit	11	(21,074 )	(30,838 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		154,099	119,259

The notes on pages 12 to 19 form part of these financial statements.

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Brian McCance (Steel) Limited

Statement of Comprehensive Income

For The Year Ended 30 September 2024

Statement of Comprehensive Income

	2024	2023
	£	£
PROFIT FOR THE FINANCIAL YEAR	154,099	119,259
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	154,099	119,259

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Brian McCance (Steel) Limited

Balance Sheet

As At 30 September 2024

Balance Sheet

Registered number: NI011457

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		158,089		115,616
Investments	13		1,030,389		945,779

			1,188,478		1,061,395
CURRENT ASSETS
Stocks	14	1,118,740		1,211,793
Debtors	15	2,049,118		2,296,867
Cash at bank and in hand		3,658,065		3,614,515

		6,825,923		7,123,175
Creditors: Amounts Falling Due Within One Year	16	(2,471,218 )		(2,806,010 )

NET CURRENT ASSETS (LIABILITIES)			4,354,705		4,317,165

TOTAL ASSETS LESS CURRENT LIABILITIES			5,543,183		5,378,560

PROVISIONS FOR LIABILITIES
Deferred Taxation	17		(25,573 )		(15,049 )

NET ASSETS			5,517,610		5,363,511

CAPITAL AND RESERVES
Called up share capital	19		90,000		90,000
Capital redemption reserve			10,000		10,000
Fair value reserve	22		30,389		-
Profit and Loss Account			5,387,221		5,263,511

SHAREHOLDERS' FUNDS			5,517,610		5,363,511

The financial statements were approved by the board of directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr John Welsh

Director

The notes on pages 12 to 19 form part of these financial statements.

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Brian McCance (Steel) Limited

Statement of Changes in Equity

For The Year Ended 30 September 2024

Statement of Changes in Equity

	Share Capital	Capital Redemption	Fair value reserve	Profit and Loss Account	Total
	£	£	£	£	£
As at 1 October 2022	90,000	10,000	-	5,344,252	5,444,252
Profit for the year and total comprehensive income	-	-	-	119,259	119,259

Dividends paid	-	-	-	(200,000)	(200,000)

As at 30 September 2023 and 1 October 2023	90,000	10,000	-	5,263,511	5,363,511


Profit for the year and total comprehensive income	-	-	-	154,099	154,099

Movements in fair value reserve	-	-	30,389	-	30,389
Transfer to/from Fair value reserve	-	-	-	(30,389)	(30,389)

As at 30 September 2024	90,000	10,000	30,389	5,387,221	5,517,610

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Brian McCance (Steel) Limited

Statement of Cash Flows

For The Year Ended 30 September 2024

Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	142,289	809,897
Interest paid		(80 )	(299 )
Tax paid		(20,069 )	(267,544 )

Net cash generated from operating activities		122,140	542,054

Cash flows from investing activities
Purchase of tangible assets		(99,000 )	(90,956 )
Purchase of other fixed asset investments		-	(500,000 )
Interest received		20,410	12,487

Net cash used in investing activities		(78,590 )	(578,469 )

Cash flows from financing activities
Equity dividends paid		-	(200,000 )



Increase/(decrease) in cash and cash equivalents		43,550	(236,415 )
Cash and cash equivalents at beginning of year	2	3,614,515	3,850,930

Cash and cash equivalents at end of year	2	3,658,065	3,614,515

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Brian McCance (Steel) Limited

Notes to the Statement of Cash Flows

For The Year Ended 30 September 2024

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2024	2023
	£	£
Profit for the financial year	154,099	119,259
Adjustments for:
Tax on profit	21,074	30,838
Interest expense	80	299
Interest income	(20,410 )	(12,487 )
Depreciation of tangible assets	56,527	31,787
Net fair value gains recognised in profit or loss	(84,610)	(20,066)
Movements in working capital:
Decrease in stocks	93,053	504,694
Decrease in trade and other debtors	247,749	430,330
Decrease in trade and other creditors	(325,273 )	(274,757 )

Net cash generated from operations	142,289	809,897

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	3,658,065	3,614,515

3. Analysis of changes in net funds

	As at 1 October 2023	Cash flows	As at 30 September 2024
	£	£	£
Cash at bank and in hand	3,614,515	43,550	3,658,065

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Brian McCance (Steel) Limited

Notes to the Financial Statements

For The Year Ended 30 September 2024

Notes to the Financial Statements

1. General Information

Brian McCance (Steel) Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI011457 . The registered office is 79 Dargan Road, Belfast, BT3 9JU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain items to fair value through profit or loss, and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements are presented in Sterling which is the functional currency of the company.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	4% on cost
Plant & Machinery	25% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	25% on cost

2.4. Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

2.5. Stocks and Work in Progress

Stocks is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is determined using the first-in, first-out method.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the 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 differences are taken into account in arriving at the operating profit.

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Brian McCance (Steel) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Turnover

Analysis of turnover by class of business is as follows:

	2024	2023
	£	£
Sale of goods	9,782,430	11,180,476

4. Operating Profit

The operating profit is stated after charging:

	2024	2023
	£	£
Exchange differences	1,586	(59,998 )
Depreciation of tangible fixed assets	56,527	31,787

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	9,350	7,825

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Brian McCance (Steel) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	684,892	637,838
Social security costs	82,630	73,852
Other pension costs	94,643	99,086

	862,165	810,776

7. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2024	2023
Office and administration	5	5
Sales, marketing and distribution	15	15

	20	20

8. Directors' remuneration

	2024	2023
	£	£
Emoluments	219,406	217,407
Company contributions to money purchase pension schemes	65,552	70,196

	284,958	287,603

The number of directors to whom retirement benefits were accruing was as follows:

	2024		2023
Money purchase pension schemes	2		2

Information regarding the highest paid director was as follows:

	2024	2023
	£	£
Emoluments	93,572	93,501
Company contributions to money purchase pension schemes	61,771	66,624

	155,343	160,125

9. Interest Receivable and Similar Income

	2024	2023
	£	£
Interest on short term deposits	20,329	12,487
Corporation tax repayment interest	81	-

	20,410	12,487

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Brian McCance (Steel) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

10. Interest Payable and Similar Charges

	2024	2023
	£	£
Bank loans and overdrafts	-	10
Other finance charges	80	289

	80	299

11. Tax on Profit

	2024	2023
The tax charge on the profit for the year was as follows:
	£	£
Current tax
UK Corporation Tax	10,550	15,195
Deferred Tax
Deferred taxation	10,524	15,643


Total tax charge for the period	21,074	30,838


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
	2024	2023
	£	£
Profit before tax	175,173	150,097

Tax on profit at 19.5% (UK standard rate)	34,246	30,410
Goodwill/depreciation not allowed for tax	388	401
Expenses not deductible for tax purposes	1,521	1,278
Difference in tax rates	2,063	3,001
Revenue exempt from taxation	(16,542 )	(4,065 )
Deferred tax relating to changes in tax rates or laws	(602 )	(187 )

Total tax charge for the period	21,074	30,838

12. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 October 2023	49,485	599,496	122,730	771,711
Additions	-	99,000	-	99,000

As at 30 September 2024	49,485	698,496	122,730	870,711

...CONTINUED

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Brian McCance (Steel) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

Depreciation
As at 1 October 2023	15,194	520,900	120,001	656,095
Provided during the period	1,979	53,738	810	56,527

As at 30 September 2024	17,173	574,638	120,811	712,622

Net Book Value
As at 30 September 2024	32,312	123,858	1,919	158,089

As at 1 October 2023	34,291	78,596	2,729	115,616

13. Investments

	Listed
	£
Cost
As at 1 October 2023	945,779
Revaluations	84,610

As at 30 September 2024	1,030,389

Provision
As at 1 October 2023	-

As at 30 September 2024	-

Net Book Value
As at 30 September 2024	1,030,389

As at 1 October 2023	945,779

Investments consists of two investment portfolios with holdings in various listed funds.

14. Stocks

	2024	2023
	£	£
Stock	1,118,740	1,211,793

15. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,997,031	2,193,540
Other debtors	52,087	103,327

	2,049,118	2,296,867

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Brian McCance (Steel) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

16. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	2,390,309	2,742,956
Other creditors	6,183	-
Corporation tax	5,676	15,195
Taxation and social security	37,006	17,386
Accruals and deferred income	32,044	30,473

	2,471,218	2,806,010

17. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Accelerated capital allowances	25,573	15,049

18. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 October 2023	15,049	15,049
Additions	10,524	10,524

Balance at 30 September 2024	25,573	25,573

19. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
90,000 Ordinary Shares of £ 1.00 each	90,000	90,000

Rights and Particulars of Classes of Shares

Ordinary £1 shares

All shares issued are non-redeemable and rank equally in terms of voting rights - one vote for each share. All shares issued rank equally in terms of rights to participate in all approved dividend distributions for that class of share. All shares issued rank equally in terms of rights to participate in any capital distribution on winding up.

20. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to profit or loss in respect of defined contribution schemes was £94,643 (2023: £99,086).

21. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	-	200,000

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Brian McCance (Steel) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

22. Reserves

	Fair Value Reserve
	£
Movements in fair value reserve	30,389

As at 30 September 2024	30,389

The fair value reserve represents the surplus of fair value of fixed asset investments over historical cost. No deferred tax has been recognised on the surplus as the potential deferred tax liability is considered immaterial.

23. Related Party Disclosures

During the year the company paid rent of £118,000 for its Dargan Road premises. The premises are 50% owned by a director.

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