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Registered number: 01188066
Robert Nicholas Steels (Burnley) Limited
Financial Statements
For The Year Ended 31 January 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—9
Page 1
Balance Sheet
Registered number: 01188066
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 6 392,998 447,031
392,998 447,031
CURRENT ASSETS
Stocks 7 1,287,640 1,214,457
Debtors 8 2,702,800 1,816,619
Cash at bank and in hand 1,259,418 1,975,979
5,249,858 5,007,055
Creditors: Amounts Falling Due Within One Year 9 (1,845,078 ) (1,704,697 )
NET CURRENT ASSETS (LIABILITIES) 3,404,780 3,302,358
TOTAL ASSETS LESS CURRENT LIABILITIES 3,797,778 3,749,389
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (85,124 ) (97,835 )
NET ASSETS 3,712,654 3,651,554
CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Revaluation reserve 14 174,197 178,784
Profit and Loss Account 3,528,457 3,462,770
SHAREHOLDERS' FUNDS 3,712,654 3,651,554
Page 1
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr W Rhind
Director
28 October 2026
The notes on pages 3 to 9 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Robert Nicholas Steels (Burnley) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01188066 . The registered office is The Steel Works, Charter Street, Accrington, Lancashire, BB5 0SA.
2. Statement of Compliance
The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
3.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information in making their assessment. The directors have taken into account the effects on the company and have reviewed a period of exceeding 12 months from the date of approval of these financial statements. The directors have a reasonable expectation that it has adequate resources to continue operational existence and for this reason will continue to adopt the going concern basis in the preparation of its financial statements.
3.3. Significant judgements and estimations
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual income. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material  adjustment to the carrying amount of the assets and liabilities within the next financial year.
3.4. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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3.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 50 years on a straight line basis
Plant & Machinery 7 - 8 years on a straight line basis
Motor Vehicles 3 - 5 years on a straight line basis
Fixtures & Fittings 7 - 8 years on a straight line basis
Computer Equipment 3 - 7 years on a straight line basis
Included within Fixtures, Fittings and Computer Equipment is Computer Equipment depreciated with an expected useful live of 3 - 7 years on a straight line basis.
3.6. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
3.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.8. Financial Instruments
Financial assets and financial liabilities are recognised when the the company becomes a party to the contractual provisions of the financial instrument.
Cash and cash equivalents
These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.
Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.
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3.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
4. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2025: 14)
14 14
5. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2026 2025
2026 2025 £ £
Current tax
UK Corporation Tax 24.0% 19.0% 36,271 378
Deferred Tax
Deferred taxation (12,711 ) 14,252
Total tax charge for the period 23,560 14,630
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The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2026 2025
£ £
Profit before tax 84,660 8,502
Tax on profit at 24% (UK standard rate) 20,333 1,794
Goodwill/depreciation not allowed for tax 18,087 15,052
Expenses not deductible for tax purposes 3,719 6,375
Capital allowances (5,868 ) (22,843 )
Short term timing differences (12,711 ) 14,252
Total tax charge for the period 23,560 14,630
6. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost or Valuation
As at 1 February 2025 352,534 61,673 268,309 200,248 882,764
Additions - 25,000 - 7,292 32,292
Disposals - (30,636 ) - (6,312 ) (36,948 )
As at 31 January 2026 352,534 56,037 268,309 201,228 878,108
Depreciation
As at 1 February 2025 135,571 42,380 78,545 179,237 435,733
Provided during the period 6,720 6,199 55,723 8,345 76,987
Disposals - (23,402 ) - (4,208 ) (27,610 )
As at 31 January 2026 142,291 25,177 134,268 183,374 485,110
Net Book Value
As at 31 January 2026 210,243 30,860 134,041 17,854 392,998
As at 1 February 2025 216,963 19,293 189,764 21,011 447,031
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Cost or valuation as at 31 January 2026 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
At cost 352,534 56,037 268,309 201,228 878,108
352,534 56,037 268,309 201,228 878,108
In September 2004 the company's land and building were revalued by Sanderson Weatherall, Chartered Surveyors, on an existing use basis. This value has been adopted as the deemed cost of the asset on transition to FRS102.
7. Stocks
2026 2025
£ £
Materials 1,287,640 1,214,457
8. Debtors
2026 2025
£ £
Due within one year
Trade debtors 2,662,782 1,775,598
Other debtors 40,018 41,021
2,702,800 1,816,619
9. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 1,310,133 1,380,165
Corporation tax 36,450 378
Other taxes and social security 15,232 15,005
VAT 82,725 7,608
Other creditors 400,538 301,541
1,845,078 1,704,697
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10. Deferred Taxation
The provision for deferred tax is made up as follows:
2026 2025
£ £
Revaluation of property, plant and equipment 43,550 44,696
Other timing differences 41,574 53,139
85,124 97,835
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2025 97,835 97,835
Deferred taxation (12,711 ) (12,711 )
Balance at 31 January 2026 85,124 85,124
12. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 10,000 10,000
13. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2026 2025
£ £
Not later than one year - 11,070
Later than one year and not later than five years 5,280 -
5,280 11,070
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14. Reserves
Revaluation reserve Profit and Loss Account
£ £
As at 1 February 2025 178,784 3,462,770
Profit for the year and total comprehensive income - 61,100
Transfer from revaluation reserve - 4,587
Transfer to/from Profit & Loss Account (4,587 ) -
As at 31 January 2026 174,197 3,528,457
15. Post Balance Sheet Events
There are no material events arising after the reporting date which are not reflected in the profit and loss account or balance sheet. 
16. Related Party Disclosures
During the year the company paid £3,900 (2025 - £3,900) rent to Robert Nicholas Steel (Burnley) Excutive retirement scheme. Mr W Rhind, a director, is a trustee and beneficiary of this scheme.
17. Controlling Parties
The company's ultimate controlling party is Mr W Rhind by virtue of his interest in the share capital of the company.
18. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
19. Audit Information
The auditor's report on the accounts of Robert Nicholas Steels (Burnley) Limited for the year ended 31 January 2026 was unqualified.
The auditor's report was signed by Philip Mendelson BA FCA (Senior Statutory Auditor) for and on behalf of Marsden and Co , Statutory Auditor.
Marsden and Co
Chartered Accountants and Statutory Auditors
41 Knowsley Street
Bury BL9 0ST
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