Steele Rose & Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03392519 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Steele Rose & Co Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D C S Steele

SECRETARY:

D C S Steele

REGISTERED OFFICE:

8 Cherrytree Farm

Blackmore End Road

Sible Hedingham

Essex

CO9 3LZ

REGISTERED NUMBER:

03392519 (England and Wales)

ACCOUNTANTS:

Simpson Accountancy Limited

Unit 6 Cherrytree Farm

Blackmore End Road

Sible Hedingham

Essex

CO9 3LZ

FIXED ASSETS

Tangible assets

4

2,444

83

CURRENT ASSETS

Debtors

5

1,440

6,528

Investments

6

2,080

-

Cash at bank

13,120

-

16,640

6,528

CREDITORS

Amounts falling due within one year

7

15,371

15,534

NET CURRENT ASSETS/(LIABILITIES)

1,269

(9,006

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,713

(8,923

)

CAPITAL AND RESERVES

Called up share capital

1,963

1,963

Retained earnings

8

1,750

(10,886

)

SHAREHOLDERS' FUNDS

3,713

(8,923

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 12 July 2019 and were signed by:

D C S Steele - Director

1.	STATUTORY INFORMATION

Steele Rose & Co Limited is a private company, limited by shares , registered in England and Wales. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 10% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

8,751

Additions

3,609

At 31 December 2018

12,360

DEPRECIATION

At 1 January 2018

8,668

Charge for year

1,248

At 31 December 2018

9,916

NET BOOK VALUE

At 31 December 2018

2,444

At 31 December 2017

83

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by associates

1,440

720

Other debtors

-

5,808

1,440

6,528

6.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Other

2,080

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

2,928

Taxation and social security

13,835

10,785

Other creditors

1,536

1,821

15,371

15,534

8.

RESERVES

Retained

earnings

£

At 1 January 2018

(10,886

)

Profit for the year

20,006

Dividends

(7,370

)

At 31 December 2018

1,750

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

2018

2017

£

£

D C S Steele

Balance outstanding at start of year

5,808

-

Amounts advanced

110

8,830

Amounts repaid

(5,921

)

(3,022

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3

)

5,808

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £7,370 were paid to the director .

During the year the company was charged legal and professional fees of £47,500 (2017: £41,500) by DCSS

Legal Services Limited. As at 31st December 2018 the company was owed £1,440 (2017: £720) by DCSS Legal

Services Limited. Both companies are under common control.

During the year the company was paid consultancy fees of £3,710 to Daniel Steele, one of the company

directors. At the balance sheet date there was nothing owing or owed to the company.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D C S Steele.