Company No: 13481115 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	12,823		41,147
Investment property	4	0		1,014,570
		12,823		1,055,717
Current assets
Debtors	5	7,202		896
Cash at bank and in hand		6,319		9,151
		13,521		10,047
Creditors: amounts falling due within one year	6	( 150,305)		( 1,120,125)
Net current liabilities		(136,784)		(1,110,078)
Total assets less current liabilities		(123,961)		(54,361)
Provision for liabilities		0		18,378
Net liabilities		( 123,961)		( 35,983)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 124,061 )		( 36,083 )
Total shareholder's deficit		( 123,961)		( 35,983)

For the financial year ending 30 June 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Steele Securities Limited (registered number: 13481115) were approved and authorised for issue by the Director on 09 September 2026. They were signed on its behalf by:

D R Steele Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Steele Securities Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Kandahar, Trevarrian, Newquay, TR8 4AQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £123,961. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of lettings and property development services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance
Tools and equipment	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Vehicles		Fixtures and fittings		Tools and equipment		Office equipment		Total
	£		£		£		£		£
Cost
At 01 July 2025	20,467		48,443		5,597		0		74,507
Additions	0		0		0		1,070		1,070
Disposals	0		( 48,443)		0		0		( 48,443)
At 30 June 2026	20,467		0		5,597		1,070		27,134
Accumulated depreciation
At 01 July 2025	8,348		23,145		1,867		0		33,360
Charge for the financial year	3,030		0		932		134		4,096
Disposals	0		( 23,145)		0		0		( 23,145)
At 30 June 2026	11,378		0		2,799		134		14,311
Net book value
At 30 June 2026	9,089		0		2,798		936		12,823
At 30 June 2025	12,119		25,298		3,730		0		41,147

4. Investment property

	Investment property
	£
Valuation
As at 01 July 2025	1,014,570
Disposals	(1,014,570)
As at 30 June 2026	0

5. Debtors

	2026		2025
	£		£
Other debtors	7,202		896

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	0		3,437
Other taxation and social security	0		870
Other creditors	150,305		1,115,818
	150,305		1,120,125

7. Related party transactions

Other related party transactions

During the financial year, the company provided property development services to D Steele. The total value of these services amounted to £199,420 (2025 £152,553)