REGISTERED NUMBER: 03543846 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

Steelco Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P R Gunnett

R T Gunnett

K Tregloan

SECRETARY:

R T Gunnett

REGISTERED OFFICE:

Sandy Hill Farm

Lamport Road

Rothwell

Northamptonshire

NN14 1LW

REGISTERED NUMBER:

03543846 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

Regency House

3 Albion Place

Northampton

Northants

NN1 1UD

FIXED ASSETS

Tangible assets

2

48,035

40,526

CURRENT ASSETS

Stocks

160,162

163,802

Debtors

277,102

186,737

Cash at bank and in hand

45,217

13,814

482,481

364,353

CREDITORS

Amounts falling due within one year

3

453,964

364,275

NET CURRENT ASSETS

28,517

78

TOTAL ASSETS LESS CURRENT LIABILITIES

76,552

40,604

CREDITORS

Amounts falling due after more than one year

(12,454

)

(19,921

)

PROVISIONS FOR LIABILITIES

(6,405

)

(4,200

)

NET ASSETS

57,693

16,483

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

57,593

16,383

57,693

16,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 March 2015 and were signed on its behalf by:

P R Gunnett - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and equipment

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

80,582

Additions

23,339

Disposals

(7,995

)

At 30 June 2014

95,926

DEPRECIATION

At 1 July 2013

40,056

Charge for year

15,830

Eliminated on disposal

(7,995

)

At 30 June 2014

47,891

NET BOOK VALUE

At 30 June 2014

48,035

At 30 June 2013

40,526

3.

CREDITORS

Creditors include an amount of £ 41,075 (2013 - £ 18,618 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL