REGISTERED NUMBER: 13380691 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

THE STEEL GALLERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

M R Canner

REGISTERED OFFICE:

Enterprise House

The Courtyard

Old Court House Road

Bromborough

CH62 4UE

REGISTERED NUMBER:

13380691 (England and Wales)

ACCOUNTANTS:

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

FIXED ASSETS

Tangible assets

4

25,984

449

CURRENT ASSETS

Debtors

5

681,479

578,763

Cash at bank and in hand

28,730

51,694

710,209

630,457

CREDITORS

Amounts falling due within one year

6

714,497

625,139

NET CURRENT (LIABILITIES)/ASSETS

(4,288

)

5,318

TOTAL ASSETS LESS CURRENT LIABILITIES

21,696

5,767

CREDITORS

Amounts falling due after more than one year

7

14,063

-

NET ASSETS

7,633

5,767

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

7,533

5,667

SHAREHOLDERS' FUNDS

7,633

5,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 May 2026 and were signed by:

M R Canner - Director

1.	STATUTORY INFORMATION

The Steel Gallery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

No depreciation is charged in the year of acquisition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

449

Additions

25,685

At 31 May 2025

26,134

DEPRECIATION

Charge for year

150

At 31 May 2025

150

NET BOOK VALUE

At 31 May 2025

25,984

At 31 May 2024

449

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

16,010

28,963

Other debtors

665,469

549,800

681,479

578,763

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans and overdrafts

21,887

-

Hire purchase contracts

5,625

-

Trade creditors

444,979

394,418

Taxation and social security

84,290

73,276

Other creditors

157,716

157,445

714,497

625,139

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Hire purchase contracts

14,063

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.25

31.5.24

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 June 2024

5,667

Profit for the year

1,866

At 31 May 2025

7,533

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount due from Mr M Canner of £9,253 in respect of their director's loan account.

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 Balance Sheet. 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 The Steel Gallery Limited for the year ended 31 May 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 The Steel Gallery Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Steel Gallery Limited and state those matters that we have agreed to state to the director of The Steel Gallery Limited 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 The Steel Gallery Limited and its director for our work or for this report.

It is your duty to ensure that The Steel Gallery Limited 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 The Steel Gallery Limited. You consider that The Steel Gallery Limited 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 The Steel Gallery Limited. 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.

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

Date: .............................................