REGISTERED NUMBER: 09292190 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

Steel Peaks Ltd

Page

Chartered accountants' report

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

8

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Steel Peaks Ltd for the year ended 30 November 2025 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Steel Peaks Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Steel Peaks Ltd and state those matters that we have agreed to state to the director of Steel Peaks Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Steel Peaks Ltd and its director for our work or for this report.

It is your duty to ensure that Steel Peaks Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Steel Peaks Ltd. You consider that Steel Peaks Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Steel Peaks Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

22 St George's Street

Stamford

Lincolnshire

PE9 2BU

27 May 2026

Fixed assets

Tangible assets

5

22,391

33,140

Current assets

Debtors

6

51,246

35,318

Cash at bank

28,556

42,532

79,802

77,850

Creditors

Amounts falling due within one year

7

37,466

38,933

Net current assets

42,336

38,917

Total assets less current liabilities

64,727

72,057

Creditors

Amounts falling due after more than one year

8

(18,857

)

(26,590

)

Provisions for liabilities

(1,683

)

(2,441

)

Net assets

44,187

43,026

Capital and reserves

Called up share capital

11

10

10

Retained earnings

44,177

43,016

Shareholders' funds

44,187

43,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 May 2026 and were signed by:

J Cripps - Director

1.	Statutory information

Steel Peaks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

09292190

Registered office:

16 Highlands Way

Stamford

Lincolnshire

PE9 2XJ

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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 the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible asset includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4.	Employees and directors

The average number of employees during the year was 2 (2024 - 2 ) .

5.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 December 2024

17,734

45,595

63,329

Additions

304

-

304

Disposals

(4,030

)

-

(4,030

)

At 30 November 2025

14,008

45,595

59,603

Depreciation

At 1 December 2024

10,491

19,698

30,189

Charge for year

1,222

8,546

9,768

Eliminated on disposal

(2,745

)

-

(2,745

)

At 30 November 2025

8,968

28,244

37,212

Net book value

At 30 November 2025

5,040

17,351

22,391

At 30 November 2024

7,243

25,897

33,140

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

19,601

11,350

Other Debtor

29,093

21,604

Prepayments

2,552

2,364

51,246

35,318

Included in other debtors is £29,093 (2024 - £21,604) recoverable CIS from HMRC.

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts (see note 9)

7,431

9,687

Hire purchase contracts

5,681

5,683

Trade creditors

97

1,520

Corporation tax

16,797

15,173

VAT

2,965

1,363

Other creditors

1,000

2,000

Directors' loan accounts

2,280

2,207

Accrued expenses

1,215

1,300

37,466

38,933

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans (see note 9)

8,907

10,962

Hire purchase contracts

9,950

15,628

18,857

26,590

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

685

2,740

9.

Loans

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

5,375

7,631

Bank loans

2,056

2,056

7,431

9,687

Amounts falling due between two and five years:

Bank loans - 2-5 years - BBL

8,222

8,222

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

685

2,740

10.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

10,963

13,018

Hire purchase contracts

15,631

21,311

26,594

34,329

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10

Ordinary

£1

10

10