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Registered number: 02323228
STEELARCH LIMITED
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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STEELARCH LIMITED
Company Information
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STEELARCH LIMITED
Registered number: 02323228
Balance sheet
As at 31 March 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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STEELARCH LIMITED
Registered number: 02323228
Balance sheet (continued)
As at 31 March 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 December 2025.
The notes on pages 3 to 9 form part of these financial statements.
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STEELARCH LIMITED
Notes to the financial statements
For the Year Ended 31 March 2025
Steelarch Limited is a private limited company, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 3rd Floor, 12 Gough Square, London, EC4A 3DW.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Turnover is recognised to the extent that it is probable that economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration recieved or recievable, excluding discounts, rebates, value added tax and other sales taxes.
Rental income from investment property leased out under an operating lease are recognised within profit or loss in the statement of comprehensive income on a straight line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the net consideration for the use of the property and therefore are also recognised on the same straight line basis.
Rental revenues are accounted for on an accruals basis. Therefore, deferred revenue generally represents advance payments from tenants. Revenue is recognsied when it is probable that the economic benefits associated with the transaction will flow to the Company and the amount of revenue can be measured reliably.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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STEELARCH LIMITED
Notes to the financial statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment property is carried at fair value determined annually by a director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
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STEELARCH LIMITED
Notes to the financial statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Steelarch Limited, in the normal course of business, holds rent deposits on behalf of tenants. These funds are held in bank accounts which do not form part of these accounts.
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The average monthly number of employees, including directors, during the year was 5 (2024 - 5).
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STEELARCH LIMITED
Notes to the financial statements
For the Year Ended 31 March 2025
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Charge for the year on owned assets
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STEELARCH LIMITED
Notes to the financial statements
For the Year Ended 31 March 2025
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Long leasehold investment properties
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Investment properties were valued by a Director on an open market basis at 31 March 2025.
The historic cost of the investment properties is £730,448 (2024: £730,448).
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Corporation tax recoverable
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STEELARCH LIMITED
Notes to the financial statements
For the Year Ended 31 March 2025
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Charged to profit or loss
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The deferred tax balance is made up as follows:
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Gain on investment properties
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Gain on listed investments
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STEELARCH LIMITED
Notes to the financial statements
For the Year Ended 31 March 2025
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Allotted, called up and fully paid
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100 (2024 - 100) Ordinary shares of £1.00 each
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Profit & loss account
Included in the profit and loss account are non-distributable reserves of £1,704,029 (2024: £1,704,029).
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Transactions with directors
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The company operates a director's current account with a director. At the balance sheet date the company owed a director £3,502 (2024: a director owed the company £67,374). The balance is interest free and repayable on demand.
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