Company Registration No. 14288056 (England and Wales)
Elite Steel Works Ltd
Unaudited accounts
for the year ended 31 August 2025
Elite Steel Works Ltd
Unaudited accounts
Contents
Elite Steel Works Ltd
Company Information
for the year ended 31 August 2025
Director
Mukund Naran Dabasia
Company Number
14288056 (England and Wales)
Registered Office
Unit 40a
Cumberland Business Park
Cumberland Avenue
London
NW10 7RT
England
Elite Steel Works Ltd
Statement of financial position
as at 31 August 2025
Intangible assets
7,474
9,423
Tangible assets
51,988
41,320
Cash at bank and in hand
69,189
69,286
Creditors: amounts falling due within one year
(171,894)
(136,104)
Net current (liabilities)/assets
(2,705)
5,929
Total assets less current liabilities
56,757
56,672
Provisions for liabilities
Deferred tax
(11,297)
(7,850)
Called up share capital
300
300
Profit and loss account
45,160
48,522
Shareholders' funds
45,460
48,822
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2026 and were signed on its behalf by
Mukund Naran Dabasia
Director
Company Registration No. 14288056
Elite Steel Works Ltd
Notes to the Accounts
for the year ended 31 August 2025
Elite Steel Works Ltd is a private company, limited by shares, registered in England and Wales, registration number 14288056. The registered office is Unit 40a, Cumberland Business Park, Cumberland Avenue, London, NW10 7RT, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Fixtures & fittings
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Elite Steel Works Ltd
Notes to the Accounts
for the year ended 31 August 2025
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Intangible fixed assets
Total
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Tangible fixed assets
Total
At 1 September 2024
48,541
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Average number of employees
During the year the average number of employees was 7 (2024: 7).