Streets Steele Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Streets Steele Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10834052 . The registered office is Stanway House, Bradley Stoke, Bristol, Gloucestershire, BS32 4QH.

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.

The company is a small company as defined by section 382 of the Companies Act 2006 and has taken advantage of the exemption under section 400 of that Act from the requirement to prepare consolidated financial statements. Accordingly, these financial statements present information about the company as an individual entity.

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. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.

2.5. 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:

Leasehold	10% Straight Line
Plant & Machinery	20% Straight Line
Fixtures & Fittings	20% Straight Line
Computer Equipment	25% Straight Line

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.

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Streets Steele Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. 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: 20 (2024: 15)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 April 2024	53,773	6,855	60,628
Additions	3,576	-	3,576

As at 31 March 2025	57,349	6,855	64,204

Amortisation
As at 1 April 2024	20,612	5,086	25,698
Provided during the period	5,412	1,371	6,783

As at 31 March 2025	26,024	6,457	32,481

Net Book Value
As at 31 March 2025	31,325	398	31,723

As at 1 April 2024	33,161	1,769	34,930

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	7,896	11,227	6,166	23,479	48,768
Additions	18,525	2,541	-	7,997	29,063

As at 31 March 2025	26,421	13,768	6,166	31,476	77,831

...CONTINUED

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Streets Steele Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	531	4,141	5,187	11,298	21,157
Provided during the period	2,489	1,831	275	4,511	9,106

As at 31 March 2025	3,020	5,972	5,462	15,809	30,263

Net Book Value
As at 31 March 2025	23,401	7,796	704	15,667	47,568

As at 1 April 2024	7,365	7,086	979	12,181	27,611

6. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 April 2024	-
Additions	306,801

As at 31 March 2025	306,801

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	306,801

As at 1 April 2024	-

On 1 August 2024, the company acquired 100% of the issued share capital of Mitch Consulting Limited. The acquisition was settled in three instalments, with an initial payment made on the date of acquisition and two further payments due on the first and second anniversaries of completion. The investment has been recognised at cost, reflecting the total consideration payable, and accounted for as an investment in subsidiary undertakings.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 from preparing consolidated financial statements.

The investment was reviewed for impairment at the year end, taking into account the loss of clients since the acquisition. All appropriate adjustments have been made to reflect the recoverable amount of the investment.

7. Stocks

	2025	2024
	£	£
Stock	-	813

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	22,156	23,859
Other debtors	68,945	29,184

	91,101	53,043

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Streets Steele Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	60,084	44,415
Bank loans and overdrafts	14,667	14,667
Other creditors	52,270	13,390
Taxation and social security	89,125	87,711

	216,146	160,183

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	4,000	20,000
Amounts owed to group undertakings	90,250	-
Other creditors	156,127	-

	250,377	20,000

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,002	1,002

12. Related Party Transactions

During the year. the company entered into transactions with related parties, details of these transactions are shown below

Streets Mitch Consulting Limited

100% Owned Subsidiary

Dividends of £69,450 were declared during the period with £9,200 remaining unpaid as at the year end date. The company also provided services amounting to £11,711 of which £1,752 was outstanding as at the year end

Streets Corporate Partner Limited

Controlling party, parent company (70% ownership)

The company provided services amounting to £3,300 of which £500 was outstanding at the year end

Streets Banbury Limited

Group Company

The company provided services amounting to £2,440 there was no balance outstanding at the year end date

Streets Bush Limited

Group Company

The company provided services amounting to £3,135 there was £910 outstanding at the year end date

Streets LLP

Group Company

The company provided services amounting to £74,695 there was no balance outstanding at the year end date. The comapny also recevied services of £2,563 of which nothing was outstanding at the year end.

Streets Management Services Limited

Group Company

The company provided services amounting to £7,600 there was no balance outstanding at the year end date

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Streets Steele Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Streets Tax Limited

Group Company

The company provided services amounting to £1,500 there was no balance outstanding at the year end date

Streets Turner Limited

Group Company

The company provided services amounting to £344 there was no balance outstanding at the year end date

Streets Law Limited

Group Company

The company recevied services amounting to £18,623, there was no balance outstanding at the year end date

Streets Management Services

The company recevied services amounting to £25,107, all of which was outstanding at the year end date

All transactions were conducted on an arm's length basis.

13. Ultimate Controlling Party

The company's ultimate controlling party is SMS Corporate Partner Limited by virtue of his ownership of 70% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		31,723		34,930
Tangible Assets	5		47,568		27,611
Investments	6		306,801		-

			386,092		62,541
CURRENT ASSETS
Stocks	7	-		813
Debtors	8	91,101		53,043
Cash at bank and in hand		149,603		190,127

		240,704		243,983
Creditors: Amounts Falling Due Within One Year	9	(216,146 )		(160,183 )

NET CURRENT ASSETS (LIABILITIES)			24,558		83,800

TOTAL ASSETS LESS CURRENT LIABILITIES			410,650		146,341

Creditors: Amounts Falling Due After More Than One Year	10		(250,377 )		(20,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(6,041 )		(5,062 )

NET ASSETS			154,232		121,279

CAPITAL AND RESERVES
Called up share capital	11		1,002		1,002
Capital redemption reserve			81		81
Profit and Loss Account			153,149		120,196

SHAREHOLDERS' FUNDS			154,232		121,279