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REGISTERED NUMBER: 03543846 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

Steelco Limited

Steelco Limited (Registered number: 03543846)






Contents of the Abbreviated Accounts
for the Year Ended 30 June 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Steelco Limited

Company Information
for the Year Ended 30 June 2014







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

Steelco Limited (Registered number: 03543846)

Abbreviated Balance Sheet
30 June 2014

2014 2013
Notes £    £    £    £   
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.

Steelco Limited (Registered number: 03543846)

Abbreviated Balance Sheet - continued
30 June 2014


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


Steelco Limited (Registered number: 03543846)

Notes to the Abbreviated Accounts
for the Year Ended 30 June 2014

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

Steelco Limited (Registered number: 03543846)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 June 2014

3. CREDITORS

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

4. CALLED UP SHARE CAPITAL