Steed Construction Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02192326 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

STEED CONSTRUCTION LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

B J Steed

N J Steed

SECRETARY:

E H Steed

REGISTERED OFFICE:

20 Havelock Road

Hastings

East Sussex

TN34 1BP

REGISTERED NUMBER:

02192326 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

FIXED ASSETS

Tangible assets

4

20,334

28,034

Investment property

5

1,100,000

1,089,500

1,120,334

1,117,534

CURRENT ASSETS

Stocks

277,892

19,517

Debtors

6

377,769

326,862

Cash at bank and in hand

3,695,903

3,982,040

4,351,564

4,328,419

CREDITORS

Amounts falling due within one year

7

87,664

109,025

NET CURRENT ASSETS

4,263,900

4,219,394

TOTAL ASSETS LESS CURRENT LIABILITIES

5,384,234

5,336,928

PROVISIONS FOR LIABILITIES

8

4,064

7,018

NET ASSETS

5,380,170

5,329,910

CAPITAL AND RESERVES

Called up share capital

1,000

Revaluation reserve

9

10,500

-

Retained earnings

5,368,670

5,328,910

SHAREHOLDERS' FUNDS

5,380,170

5,329,910

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 11 June 2026 and were signed on its behalf by:

B J Steed - Director

1.	STATUTORY INFORMATION

Steed Construction 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 as modified by the revaluation of certain assets.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover represents net invoiced sales of building services excluding value added tax, net invoiced sales of properties and rental income.

Turnover is recognised at the point where rights to consideration falls due.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Shared equity property

Shared equity property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to the profit and loss account.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2025

234,861

1,032

48,444

3,217

287,554

Disposals

(35,000

)

-

(35,000

)

At 31 December 2025

199,861

1,032

48,444

3,217

252,554

DEPRECIATION

At 1 January 2025

215,888

956

39,459

3,217

259,520

Charge for year

2,385

12

2,246

-

4,643

Eliminated on disposal

(31,943

)

-

(31,943

)

At 31 December 2025

186,330

968

41,705

3,217

232,220

NET BOOK VALUE

At 31 December 2025

13,531

64

6,739

-

20,334

At 31 December 2024

18,973

76

8,985

-

28,034

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

1,089,500

Revaluations

10,500

At 31 December 2025

1,100,000

NET BOOK VALUE

At 31 December 2025

1,100,000

At 31 December 2024

1,089,500

Shared equity property represents the company's equity share retained in a flat built by it and sold on a long lease.

Fair value at 31 December 2025 is represented by:

£

Valuation in 2011

(5,619

)

Valuation in 2013

2,500

Valuation in 2016

10,000

Valuation in 2025

10,500

Cost

1,082,619

1,100,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.12.25

31.12.24

£

Cost

1,082,619

investment property was valued on an open market basis basis on 31 December 2025 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Other debtors

377,769

326,862

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

21,591

(11,507

)

Taxation and social security

40,487

86,054

Other creditors

25,586

34,478

87,664

109,025

8.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

Deferred tax

Accelerated capital allowances

4,064

7,018

Deferred

tax

£

Balance at 1 January 2025

7,018

Provided during year

(2,954

)

Accelerated Capital Allowance

Property gain

Balance at 31 December 2025

4,064

9.

RESERVES

Revaluation

reserve

£

Revaluation in year

10,500

At 31 December 2025

10,500

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed an amount of £308,330 (2024: £310,637) by The Directors.

The following reproduces the text of the report prepared for the directors 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 Directors 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 Steed Construction Limited for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Steed Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Steed Construction Limited and state those matters that we have agreed to state to the Board of Directors of Steed Construction Limited, as a body, in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Steed Construction Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Steed Construction 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 Steed Construction Limited. You consider that Steed Construction 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 Steed Construction 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.

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

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