Ready Metal Co.Limited - Filleted accounts

Registered number

00528590

Ready Metal Co.Limited

Filleted Accounts

31 March 2026

Ready Metal Co.Limited
Registered number:		00528590
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		4,886,470			4,908,925

Current assets
Debtors	4	638,379			521,746
Cash at bank and in hand		-			35,770
		638,379			557,516

Creditors: amounts falling due within one year	5	(442,278)			(523,985)

Net current assets			196,101			33,531

Total assets less current liabilities			5,082,571			4,942,456

Creditors: amounts falling due after more than one year	6		(47,364)			(56,850)

Provisions for liabilities			(1,106,226)			(1,106,226)


Net assets			3,928,981			3,779,380

Capital and reserves
Called up share capital			3,440			3,440
Non distributable reserves			3,318,678			3,318,679
Profit and loss account			606,863			457,261

Shareholder's funds			3,928,981			3,779,380

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mandeep Singh Binning
Director
Approved by the board on 15 July 2026

Ready Metal Co.Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and it was not rounded.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Long lease			over 100 years
	Motor vehicle			15% Reducing balance
	Fixtures, fittings, tools and equipment			15% straight line

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					0		0


3	Tangible fixed assets
		Leasehold land and buildings		Fixture fittings & equipment		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2025	5,000,000		72,720		92,046		5,164,766
	Additions	-		3,700		-		3,700
	At 31 March 2026	5,000,000		76,420		92,046		5,168,466

	Depreciation
	At 1 April 2025	194,580		33,647		27,614		255,841
	Charge for the year	5,932		6,416		13,807		26,155
	At 31 March 2026	200,512		40,063		41,421		281,996

	Net book value
	At 31 March 2026	4,799,488		36,357		50,625		4,886,470
	At 31 March 2025	4,805,420		39,073		64,432		4,908,925


	Freehold land and buildings:					2026		2025
£							£
	Historical cost					575,094		575,094
	Cumulative depreciation based on historical cost					200,512		194,580
						374,582		380,514

	The leasedhold land and building were subject to a revaluation carried out by the company's officer on 1st March 2023 (transition adjustment). This valuation was subsequently reviewed during the reporting period, and it accurately represents the fair value as of reporting date.

4	Debtors					2026		2025
£							£

	Trade debtors					117,889		120,446
	Other debtors					520,490		401,300
						638,379		521,746


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					814		-
	Obligations under finance lease and hire purchase contracts					9,486		9,486
	Trade creditors					78,795		64,936
	Taxation and social security costs					167,758		250,935
	Accruals & deferred income					135,879		141,500
	Other creditors					49,546		57,128
						442,278		523,985


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Obligations under finance lease and hire purchase contracts					47,364		56,850


7	Related party transactions

	Group

	Due from group undertakings					72,300		52,300
	Due to group undertakings					7,858		558

	Controlled by director

	Due from connected company					68,190		69,000
	Due to connected company					3,288		3,288

	Other related parties

	Due from connected company					380,000		280,000


8	Other information

	Ready Metal Co.Limited is a private company limited by shares and incorporated in England. Its registered office is:
	472a Larkshall Road
	London
	E4 9HH