Universal Steel Profiles Limited - Accounts to registrar (filleted) - small 18.2

Universal Steel Profiles Limited - Accounts to registrar (filleted) - small 18.2

UNIVERSAL STEEL PROFILES LIMITED - Company Information

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REGISTERED NUMBER: 06965474 (England and Wales)















UNIVERSAL STEEL PROFILES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018





Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU








UNIVERSAL STEEL PROFILES LIMITED (REGISTERED NUMBER: 06965474)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4


UNIVERSAL STEEL PROFILES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2018







DIRECTORS: Mr. S.G. Harding
Mrs S L O'Grady





REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU





BUSINESS ADDRESS: Phoenix Street
West Bromwich
West Midlands
B70 0AQ





REGISTERED NUMBER: 06965474 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
UNIVERSAL STEEL PROFILES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and
certain other primary statements and the Report of the Directors are not required to be filed with the Registrar
of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Universal Steel Profiles Limited for the year ended 31 December 2018 which comprise the
Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the
company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Universal Steel Profiles Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Universal Steel Profiles Limited and state those matters that we have agreed to state to the Board of Directors of Universal Steel Profiles Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Universal Steel Profiles Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Universal Steel Profiles Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Universal Steel Profiles Limited. You consider that Universal Steel Profiles Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Universal Steel Profiles Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


12 March 2019

This page does not form part of the statutory financial statements

Page 2
UNIVERSAL STEEL PROFILES LIMITED (REGISTERED NUMBER: 06965474)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 102,482 120,567

CURRENT ASSETS
Debtors 5 1,622,579 1,658,393
Cash at bank 137,772 193,498
1,760,351 1,851,891
CREDITORS
Amounts falling due within one year 6 1,842,872 1,812,853
NET CURRENT (LIABILITIES)/ASSETS (82,521 ) 39,038
TOTAL ASSETS LESS CURRENT
LIABILITIES
19,961
159,605

PROVISIONS FOR LIABILITIES 7,184 15,405
NET ASSETS 12,777 144,200

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,677 144,100
SHAREHOLDERS' FUNDS 12,777 144,200

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 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 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 Board of Directors on 12 March 2019 and were signed on its behalf by:



Mrs S L O'Grady - Director


The notes form part of these financial statements

Page 3
UNIVERSAL STEEL PROFILES LIMITED (REGISTERED NUMBER: 06965474)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018


1. STATUTORY INFORMATION

Universal Steel Profiles 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net sales of goods and services, 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.
Plant and machinery - 15% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2017 - 23 ) .

Page 4 continued...
UNIVERSAL STEEL PROFILES LIMITED (REGISTERED NUMBER: 06965474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2018
and 31 December 2018 203,000
DEPRECIATION
At 1 January 2018 82,433
Charge for year 18,085
At 31 December 2018 100,518
NET BOOK VALUE
At 31 December 2018 102,482
At 31 December 2017 120,567

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 1,585,573 1,629,353
Other debtors 37,006 29,040
1,622,579 1,658,393

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 1,619,126 1,571,039
Taxation and social security 7,526 33,664
Other creditors 216,220 208,150
1,842,872 1,812,853

7. SECURED DEBTS

Included in trade creditors is a balance of £482,593 (2015 £320,014) owed to Consolidated Steel Products
Limited that is secured by a debenture over all assets of the company present and future.

8. ULTIMATE CONTROLLING PARTY

Control over the company is exercised by the Board of Directors. No individual is able to exercise sole control.

Page 5