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Registered number: 08378461
Coated Steel Products Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Bennett Verby Limited
7 St Petersgate
Stockport
Cheshire
SK1 1EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08378461
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6 6
Tangible Assets 5 253,149 260,384
253,155 260,390
CURRENT ASSETS
Stocks 6 477,000 472,500
Debtors 7 82,963 29,122
Cash at bank and in hand 20,285 176,017
580,248 677,639
Creditors: Amounts Falling Due Within One Year 8 (369,955 ) (418,253 )
NET CURRENT ASSETS (LIABILITIES) 210,293 259,386
TOTAL ASSETS LESS CURRENT LIABILITIES 463,448 519,776
Creditors: Amounts Falling Due After More Than One Year 9 (3,334 ) (28,384 )
NET ASSETS 460,114 491,392
CAPITAL AND RESERVES
Called up share capital 11 200 200
Profit and Loss Account 459,914 491,192
SHAREHOLDERS' FUNDS 460,114 491,392
Page 1
Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Frame
Director
6 August 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Coated Steel Products Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08378461 . The registered office is Waterloo House , Langham Street, Langham St Industrial Estate, Ashton-Under-Lyne, OL7 9AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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:
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
Computer Equipment 15% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. 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 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.
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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Page 4
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. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 6)
5 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 6
As at 31 January 2025 6
Net Book Value
As at 31 January 2025 6
As at 1 February 2024 6
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2024 380,381 142,915 14,000 - 537,296
Additions 30,915 - - 12,500 43,415
As at 31 January 2025 411,296 142,915 14,000 12,500 580,711
Depreciation
As at 1 February 2024 212,953 61,557 2,402 - 276,912
Provided during the period 27,601 20,340 1,740 969 50,650
As at 31 January 2025 240,554 81,897 4,142 969 327,562
Net Book Value
As at 31 January 2025 170,742 61,018 9,858 11,531 253,149
As at 1 February 2024 167,428 81,358 11,598 - 260,384
Page 4
Page 5
6. Stocks
2025 2024
£ £
Finished goods 477,000 472,500
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 34,708 912
Amounts owed by group undertakings 21,803 11,518
Other debtors 26,452 16,692
82,963 29,122
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,404 16,120
Trade creditors 145,561 176,511
Bank loans and overdrafts 33,634 10,386
Other loans 3,333 10,000
Other creditors 172,090 202,980
Taxation and social security 5,933 2,256
369,955 418,253
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 9,404
Bank loans 3,334 15,647
Other loans - 3,333
3,334 28,384
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,404 16,120
Later than one year and not later than five years - 9,404
9,404 25,524
9,404 25,524
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200 200
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