Robert Nicholas Steels (Burnley) Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—7
Profit and Loss Account	8
Statement of Comprehensive Income	9
Balance Sheet	10—11
Statement of Changes in Equity	12
Statement of Cash Flows	13
Notes to the Statement of Cash Flows	14
Notes to the Financial Statements	15—22

The directors present their strategic report for the year ended 31 January 2025.

Principal Activity

The company's principal activity continues to be that of the purchase and sale of surplus steel.

Review of the Business

Introduction

Robert Nicholas Steels (Burnley) Limited was founded in 1974 by the present owner Bill Rhind and specialises in the supply of all steel products. The company’s main lines of supply are to local and national building and engineering firms as well as supplying to those in Ireland.

Business review

The financial year seen a further reduction in the price of steel and reduced demand due to the downturn in the economy resulting in reduced turnover. Sales volume was reduced from previous years. Operations have been stable with no changes to staff numbers within the financial year.

Financial Key Performance Indicators

	2025	2024
	£	£
Turnover	8105,372	10,487,399
Gross profit	1,216,394	1,638,514
Operating (loss)/profit	(49,406)	263,107
Profit before tax	8,502	294,342
Net (loss)/profit	(6,128)	170,672
Gross profit %	15	16
Debtor days	80	70
Creditor days	73	69

Principal Risks and Uncertainties

The directors consider the main principal risk and uncertainty is the cost of steel and the downturn in the economy. This cost is dependant on energy costs in the production of steel which are of a volatile nature.

On behalf of the board

Mr W Rhind

Director

23 October 2025

Page 1

Page 2

Robert Nicholas Steels (Burnley) Limited

Company No. 01188066

Directors' Report For The Year Ended 31 January 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 January 2025.

Directors

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

Mr M Hilton

Mrs P Rhind

Mr W Rhind

Mrs J Kelleher

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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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.

Page 2

Page 3

Robert Nicholas Steels (Burnley) Limited

Directors' Report (continued)

For The Year Ended 31 January 2025

Independent Auditors

The auditors, Marsden and Co., have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr W Rhind

Director

23 October 2025

Page 3

Page 4

Independent Auditor's Report

to the Members of

Robert Nicholas Steels (Burnley) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Robert Nicholas Steels (Burnley) Limited for the year ended 31 January 2025 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 31 January 2025 and of its 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Page 4

Page 5

Independent Auditor's Report (continued)

to the Members of

Robert Nicholas Steels (Burnley) Limited

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.

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 2—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.

Page 5

Page 6

Independent Auditor's Report (continued)

to the Members of

Robert Nicholas Steels (Burnley) Limited

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

•we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge;

•we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

•making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

•considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

•performed analytical procedures to identify any unusual or unexpected relationships;

•tested journal entries to identify unusual transactions;

•assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

•investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

•agreeing financial statement disclosures to underlying supporting documentation;

•reading the minutes of meetings of those charged with governance;

•enquiring of management as to actual and potential litigation and claims; and

•reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company’s legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 6

Page 7

Independent Auditor's Report (continued)

to the Members of

Robert Nicholas Steels (Burnley) Limited

Philip Mendelson BA FCA (Senior Statutory Auditor)

for and on behalf of Marsden and Co. , Statutory Auditor

23 October 2025

Marsden and Co.

Chartered Accountants and Statutory Auditors

41 Knowsley Street

Bury BL9 0ST

Page 7

Page 8

Robert Nicholas Steels (Burnley) Limited

Profit and Loss Account

For The Year Ended 31 January 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	4	8,105,732	10,487,399
Cost of sales		(6,889,338 )	(8,848,885 )

GROSS PROFIT		1,216,394	1,638,514

Distribution costs		(171,415 )	(206,868 )
Administrative expenses		(1,094,385 )	(1,168,540 )

OPERATING (LOSS)/PROFIT	5	(49,406 )	263,106
(Loss)/profit on disposal of fixed assets		(6,287 )	991
Other interest receivable and similar income	10	64,195	30,304
Interest payable and similar charges	11	-	(59 )

PROFIT BEFORE TAXATION		8,502	294,342
Tax on Profit	12	(14,630 )	(123,670 )

(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR		(6,128 )	170,672

The notes on pages 14 to 22 form part of these financial statements.

Page 8

Page 9

Robert Nicholas Steels (Burnley) Limited

Statement of Comprehensive Income

For The Year Ended 31 January 2025

Statement of Comprehensive Income

	2025	2024
	£	£
LOSS FOR THE FINANCIAL YEAR	(6,128 )	170,672
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	(6,128 )	170,672

Page 9

Page 10

Robert Nicholas Steels (Burnley) Limited

Balance Sheet

As At 31 January 2025

Balance Sheet

Registered number: 01188066

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		447,031		392,735

			447,031		392,735
CURRENT ASSETS
Stocks	14	1,214,457		1,014,535
Debtors	15	1,816,619		2,271,508
Cash at bank and in hand		1,975,979		2,184,590

		5,007,055		5,470,633
Creditors: Amounts Falling Due Within One Year	16	(1,704,697 )		(2,122,103 )

NET CURRENT ASSETS (LIABILITIES)			3,302,358		3,348,530

TOTAL ASSETS LESS CURRENT LIABILITIES			3,749,389		3,741,265

PROVISIONS FOR LIABILITIES
Deferred Taxation	17		(97,835 )		(83,583 )

NET ASSETS			3,651,554		3,657,682

CAPITAL AND RESERVES
Called up share capital	19		10,000		10,000
Revaluation reserve	22		178,784		183,371
Profit and Loss Account			3,462,770		3,464,311

SHAREHOLDERS' FUNDS			3,651,554		3,657,682

Page 10

Page 11

Robert Nicholas Steels (Burnley) Limited

Balance Sheet (continued)

As At 31 January 2025

On behalf of the board

Mr W Rhind

Director

23 October 2025

The notes on pages 14 to 22 form part of these financial statements.

Page 11

Page 12

Robert Nicholas Steels (Burnley) Limited

Statement of Changes in Equity

For The Year Ended 31 January 2025

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Profit and Loss Account	Total
	£	£	£	£
As at 1 February 2023	10,000	187,958	3,289,052	3,487,010
Profit for the year and total comprehensive income	-	-	170,672	170,672

Transfer from revaluation reserve	-	-	4,587	4,587
Transfer to/from Profit & Loss Account	-	(4,587 )	-	(4,587)

As at 31 January 2024 and 1 February 2024	10,000	183,371	3,464,311	3,657,682


Loss for the year and total comprehensive income	-	-	(6,128 )	(6,128)

Transfer from revaluation reserve	-	-	4,587	4,587
Transfer to/from Profit & Loss Account	-	(4,587 )	-	(4,587)

As at 31 January 2025	10,000	178,784	3,462,770	3,651,554

Page 12

Page 13

Robert Nicholas Steels (Burnley) Limited

Statement of Cash Flows

For The Year Ended 31 January 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(46,390 )	336,759
Interest paid		-	(59 )
Tax paid		(92,899 )	(154,311 )

Net cash (used in)/generated from operating activities		(139,289 )	182,389

Cash flows from investing activities
Purchase of tangible assets		(154,508 )	(6,737 )
Proceeds from disposal of tangible assets		20,991	2,915
Interest received		64,195	30,304

Net cash (used in)/generated from investing activities		(69,322 )	26,482



(Decrease)/increase in cash and cash equivalents		(208,611 )	208,871
Cash and cash equivalents at beginning of year	2	2,184,590	1,975,719

Cash and cash equivalents at end of year	2	1,975,979	2,184,590

Page 13

Page 14

Robert Nicholas Steels (Burnley) Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 January 2025

Notes to the Statement of Cash Flows

1. Reconciliation of (loss)/profit for the financial year to cash (used in)/generated from operations

	2025	2024
	£	£
(Loss)/profit for the financial year	(6,128 )	170,672
Adjustments for:
Tax on (loss)/profit	14,630	123,670
Interest expense	-	59
Interest income	(64,195 )	(30,304 )
Depreciation of tangible assets	72,934	58,155
Loss/(profit) on disposal of tangible assets	6,287	(991)
Movements in working capital:
(Increase)/decrease in stocks	(199,922 )	28,133
Decrease in trade and other debtors	454,889	266,023
Decrease in trade and other creditors	(324,885 )	(278,658 )

Net cash (used in)/generated from operations	(46,390 )	336,759

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:

	2025	2024
	£	£
Cash at bank and in hand	1,975,979	2,184,590

3. Analysis of changes in net funds

	As at 1 February 2024	Cash flows	As at 31 January 2025
	£	£	£
Cash at bank and in hand	2,184,590	(208,611)	1,975,979

Page 14

Page 15

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements

For The Year Ended 31 January 2025

Notes to the Financial Statements

1. General Information

Robert Nicholas Steels (Burnley) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01188066 . The registered office is The Steel Works, Charter Street, Accrington, Lancashire, BB5 0SA.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information in making their assessment. The directors have taken into account the effects on the company and have reviewed a period of exceeding 12 months from the date of approval of these financial statements. The directors have a reasonable expectation that it has adequate resources to continue operational existence and for this reason will continue to adopt the going concern basis in the preparation of its financial statements.

3.3. Significant judgements and estimations

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual income. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year.

3.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

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.

Page 15

Page 16

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

3.5. 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:

Freehold	50 years on a straight line basis
Plant & Machinery	7 - 8 years on a straight line basis
Motor Vehicles	3 - 5 years on a straight line basis
Fixtures & Fittings	7 - 8 years on a straight line basis
Computer Equipment	3 - 7 years on a straight line basis

Included within Fixtures, Fittings and Computer Equipment is Computer Equipment depreciated with an expected useful live of 3 - 7 years on a straight line basis.

3.6. Stocks and Work in Progress

Stocks and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

3.7. 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.

3.8. Financial Instruments

Financial assets and financial liabilities are recognised when the the company becomes a party to the contractual provisions of the financial instrument.

Cash and cash equivalents

These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Trade creditors

Trade creditors are not interest bearing and are stated at their nominal value.

Page 16

Page 17

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

3.9. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

4. Turnover

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	8,010,706	10,423,057
Europe	95,026	64,342

	8,105,732	10,487,399

5. Operating (Loss)/profit

The operating (loss)/profit is stated after charging:

	2025	2024
	£	£
Bad debts	210,869	39,271
Depreciation of tangible fixed assets	72,934	58,155

Page 17

Page 18

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

6. Auditor's Remuneration

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

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	6,000	6,250

7. Staff Costs

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

	2025	2024
	£	£
Wages and salaries	544,705	756,283
Social security costs	85,993	60,230
Other pension costs	13,909	14,151

	644,607	830,664

8. Average Number of Employees

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

	2025	2024
Office and administration	2	2
Sales, marketing and distribution	9	9
Warehouse	3	3

	14	14

9. Directors' remuneration

	2025	2024
	£	£
Emoluments	249,000	464,000

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	105,000	184,000

Page 18

Page 19

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	64,195	30,304

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	-	59

12. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	19.0%	24.0%	378	92,899
Deferred Tax
Deferred taxation			14,252	30,771


Total tax charge for the period			14,630	123,670


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:
			2025	2024
			£	£
Profit before tax			8,502	294,342

Tax on profit at 19% (UK standard rate)			1,794	70,730
Goodwill/depreciation not allowed for tax			15,052	13,736
Expenses not deductible for tax purposes			6,375	9,383
Capital allowances			(22,843 )	(950 )
Short term timing differences			14,252	30,771

Total tax charge for the period			14,630	123,670

Page 19

Page 20

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

13. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 February 2024	352,534	61,673	163,315	199,409	776,931
Additions	-	-	153,669	839	154,508
Disposals	-	-	(48,675 )	-	(48,675 )

As at 31 January 2025	352,534	61,673	268,309	200,248	882,764

Depreciation
As at 1 February 2024	128,911	35,735	49,989	169,561	384,196
Provided during the period	6,660	6,645	49,953	9,676	72,934
Disposals	-	-	(21,397 )	-	(21,397 )

As at 31 January 2025	135,571	42,380	78,545	179,237	435,733

Net Book Value
As at 31 January 2025	216,963	19,293	189,764	21,011	447,031

As at 1 February 2024	223,623	25,938	113,326	29,848	392,735

Cost or valuation as at 31 January 2025 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
At cost	352,534	61,673	268,309	200,248	882,764

	352,534	61,673	268,309	200,248	882,764

In September 2004 the company's land and building were revalued by Sanderson Weatherall, Chartered Surveyors, on an existing use basis. This value has been adopted as the deemed cost of the asset on transition to FRS102.

14. Stocks

	2025	2024
	£	£
Materials	1,214,457	1,014,535

Page 20

Page 21

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

15. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,775,598	2,011,984
Other debtors	41,021	259,524

	1,816,619	2,271,508

16. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,380,165	1,679,525
Corporation tax	378	92,899
Other taxes and social security	15,005	14,832
VAT	7,608	16,004
Other creditors	301,541	318,843

	1,704,697	2,122,103

17. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Revaluation of property, plant and equipment	44,696	44,009
Other timing differences	53,139	39,574

	97,835	83,583

18. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 February 2024	83,583	83,583
Additions	14,252	14,252

Balance at 31 January 2025	97,835	97,835

19. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
10,000 Ordinary Shares of £ 1 each	10,000	10,000

Page 21

Page 22

Robert Nicholas Steels (Burnley) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

20. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	11,070	10,800

	11,070	10,800

21. 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 £13,909 (2024 -£14,151).

At the balance sheet date contributions of £2,016 (2024 -£1,885) were due to the fund and are included in creditors.

22. Reserves

	Revaluation Reserve
	£
As at 1 February 2024	183,371
Transfer to profit and loss	(4,587 )

As at 31 January 2025	178,784

23. Post Balance Sheet Events

There are no material events arising after the reporting date which are not reflected in the profit and loss account or balance sheet.

24. Related Party Disclosures

During the year the company paid £3,900 (2024 - £3,900) rent to Robert Nicholas Steel (Burnley) Excutive retirement scheme. Mr W Rhind is a trustee and beneficiary of this scheme.

25. Controlling Parties

The company's ultimate controlling party is Mr W Rhind by virtue of his interest in the share capital of the company.

Page 22