Steel Services Associates Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Steel Services Associates Limited

Balance Sheet

31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,381	1,839
Current assets
Stocks		1,835	1,340
Debtors	5	54,113	73,158
Cash at bank and in hand		55,372	45,943
		111,320	120,441
Creditors: Amounts falling due within one year	6	(22,915)	(20,303)
Net current assets		88,405	100,138
Total assets less current liabilities		89,786	101,977
Provisions for liabilities		(262)	(349)
Net assets		89,524	101,628
Capital and reserves
Called up share capital		2	2
Profit and loss account		89,522	101,626
Shareholders' funds		89,524	101,628

Steel Services Associates Limited

Balance Sheet

31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 December 2025 and signed on its behalf by:
 

......................................... N J Hardman Director

......................................... A Hardman Company secretary and director

Company Registration Number: 02934896

Steel Services Associates Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

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:
Unit 6
Old Woods Industrial Estate
Barton Road
Torquay
TQ2 7NS

These financial statements were authorised for issue by the Board on 2 December 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.

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 presentational and functional currency is pounds sterling.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax and discounts.

The company recognises revenue when it can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Steel Services Associates Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line
Motor vehicles	25% reducing balance
Plant and machinery	25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

All such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Steel Services Associates Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

4	Tangible assets

	Fixtures and fittings  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	2,788	6,966	14,953	24,707
At 31 March 2025	2,788	6,966	14,953	24,707
Depreciation
At 1 April 2024	2,788	5,489	14,591	22,868
Charge for the year	-	369	89	458
At 31 March 2025	2,788	5,858	14,680	23,326
Carrying amount
At 31 March 2025	-	1,108	273	1,381
At 31 March 2024	-	1,477	362	1,839

5

Debtors

	2025 £	2024 £
Trade debtors	3,488	4,776
Other debtors	50,625	68,382
	54,113	73,158

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	8,238	12,119
Corporation tax	9,047	5,143
Taxation and social security	4,230	1,641
Accruals and deferred income	1,400	1,400
	22,915	20,303

Steel Services Associates Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025