Steel Tie Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03401619

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

STEEL TIE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B M Shaffer

REGISTERED OFFICE:

16 Bergham Mews

Blythe Road

London

W14 0HN

REGISTERED NUMBER:

03401619

ACCOUNTANTS:

CBHC Limited

Suite 3, Steeple House

Church Lane

Chelmsford

Essex

CM1 1NH

FIXED ASSETS

Tangible assets

4

80,000

CURRENT ASSETS

Stocks

13,540

108,180

Debtors

5

543,676

1,417,114

Cash at bank

97,412

76,524

654,628

1,601,818

CREDITORS

Amounts falling due within one year

6

943,043

1,013,529

NET CURRENT (LIABILITIES)/ASSETS

(288,415

)

588,289

TOTAL ASSETS LESS CURRENT
LIABILITIES

(208,415

)

668,289

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(208,515

)

668,189

SHAREHOLDERS' FUNDS

(208,415

)

668,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2025 and were signed by:

B M Shaffer - Director

1.	STATUTORY INFORMATION

Steel Tie Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Stock and Work In Progress are stated at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Excess of liabilities over assets

The company has an excess of liabilities over assets at the balance sheet date due to significant balances being owed to related parties. The Directors have confirmed that the relevant related parties will not withdraw their support and it is considered appropriate that the financial statements are prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 December 2023

and 30 November 2024

80,000

NET BOOK VALUE

At 30 November 2024

80,000

At 30 November 2023

80,000

Included in cost of land and buildings is freehold land of £ 80,000 (2023 - £ 80,000 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/24

30/11/23

as restated

£

Trade debtors

-

70,775

Amounts owed by group undertakings

323,409

155,001

Other debtors

220,267

1,191,338

543,676

1,417,114

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/24

30/11/23

as restated

£

Trade creditors

4,644

8,253

Taxation and social security

-

27,693

Other creditors

938,399

977,583

943,043

1,013,529

7.	CONTINGENT LIABILITIES

The Company is part of a Group for VAT purposes. All companies within the group are jointly and severally liable in the event of non-payment of debts by any company within the group. The Company signed an unlimited cross company guarantee on 5th January 1998 whereby the Company's bankers have right of set off of balances owed by the Parent Company.

8.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £509,610 (2023 - £465,279) to Greenbelt Limited, , £0 (2023 - £78,500) to Leasview Developments Limited, £421,953 (2023 - £422,853) to Trinity View Homes and £3,840 (2023 - £4,750) to Priory Parking. The directors' Family have a controlling interest in these companies.

As at the balance sheet date the company was owed £168,259 (2023 - £158,290 ) by the Aldridge Estates Investment Co Limited, £17,612 (2023 - £16,862) by High House Developments Limited, was owed by Howebelt Limited £27,880 (2023 - £26,980) and £6,365 (2023 - £5,205) by Monsal Homes . The directors' family have a controlling interest in these companies.

Blackcap Limited is the companies ultimate parent company and at the balance sheet date owed the company £323,409 (2023 - £155,001).

All of the company's activity is derived from related parties.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is B M Shaffer.