Company registration number 03031508 (England and Wales)
ROYSTON SHEET LEAD LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Faulkner House
Victoria Street
Rayner Essex LLP
St Albans
Chartered Accountants
Hertfordshire
AL1 3SE
ROYSTON SHEET LEAD LIMITED
COMPANY INFORMATION
Directors
Mr M E Sherling
Mr B H Smith
Mr D A J Rintoul
Mr G C Hudson
Mr I Crabbe
Mr P J Walters
(Appointed 1 December 2023)
Company number
03031508
Registered office
Tavistock House South
Tavistock Square
London
WC1H 9LG
Auditor
Rayner Essex LLP
Faulkner House
Victoria Street
St Albans
Hertfordshire
AL1 3SE
ROYSTON SHEET LEAD LIMITED
CONTENTS
Page
Directors' report
1 - 3
Independent auditor's report
4 - 6
Profit and loss account
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 14
ROYSTON SHEET LEAD LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities
The principal activity of the company continued to be that of metal distribution merchants.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr G O'Riordan
(Resigned 20 January 2023)
Mr M E Sherling
Mr B H Smith
Mr D A J Rintoul
Mr G C Hudson
Mr I Crabbe
Mr P J Walters
(Appointed 1 December 2023)
Financial instruments

The company uses financial instruments comprising bank loans, overdrafts and invoice discounting facilities, together with various items such as trade debtors and trade creditors that arise directly form its operations. It is the objective of the board to ensure that the company has ready access to the level of funds that the board deems necessary at any time during the year. The board reviews future projections to highlight any times when requirements may exceed current levels of funding to ensure that facilities are in place and available.

 

The main risks arising from the financial instruments used by the company are credit risk, interest rate risk, liquidity risk and cash flow risk. The company reviews and agrees policies for managing these risks, as detailed below, to minimise its exposure.

Liquidity risk

The levels of funds held in stock is kept to an acceptable minimum whilst the remaining funds are held either within short term debtors or the bank, offset by short term liabilities.

Interest rate risk

The company finances its operations in the main through bank loans and asset based financing. The resulting interest costs are reviewed by the directors, however, the board accepts that a certain amount of third party funding is required and therefore accepts the risk attached to interest rate fluctuations.

Credit risk

The company undertakes credit checks for new accounts and sets credit limits for its customers. The level of debtors days is reviewed for significant accounts and procedures are in place if an account falls outside the set parameters.

ROYSTON SHEET LEAD LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Cash flow risk

The board continually monitors the cash requirements of the company to ensure that there is the appropriate level of cover. There are adequate facilities readily available to support the company's cash flow requirements at the balance sheet date.

 

Energy cost risk

Wholesale energy costs have seen increased volatility over recent years. The directors are taking a number of actions to manage the impact of price increases, including engaging market experts to offer advice, regular monitoring of the market and fixing some forward energy costs to reduce uncertainty.

 

Supply chain network uncertainty

Any delays in securing materials due to issues with global supply chains can cause problems. In particular, the group supplies the construction sector which is susceptible to delays and dependent on materials from different geographical locations. The directors seek to ensure that adequate levels on stock are held to meet the requirements of its customers.

Future developments

The directors continue to develop the business in accordance with plans and projections.

Auditor
The auditor, Rayner Essex LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ROYSTON SHEET LEAD LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr M E Sherling
Director
25 September 2024
ROYSTON SHEET LEAD LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROYSTON SHEET LEAD LIMITED
- 4 -
Opinion

We have audited the financial statements of Royston Sheet Lead Limited (the 'company') for the year ended 31 December 2023 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

ROYSTON SHEET LEAD LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROYSTON SHEET LEAD LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

ROYSTON SHEET LEAD LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROYSTON SHEET LEAD LIMITED (CONTINUED)
- 6 -

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

 

 

To address the risk of fraud through management bias and override of controls, we:

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Antony Federer FCA FCCA CF
Senior Statutory Auditor
For and on behalf of Rayner Essex LLP
25 September 2024
Chartered Accountants
Statutory Auditor
Faulkner House
Victoria Street
St Albans
Hertfordshire
AL1 3SE
ROYSTON SHEET LEAD LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
2023
2022
£
£
Turnover
2,492,252
3,262,741
Cost of sales
(2,256,497)
(2,939,874)
Gross profit
235,755
322,867
Administrative expenses
(197,987)
228,368
Other operating income
33,750
33,750
Operating profit
71,518
584,985
Interest payable and similar expenses
(25,420)
(22,621)
Profit before taxation
46,098
562,364
Tax on profit
-
0
11,262
Profit for the financial year
46,098
573,626
ROYSTON SHEET LEAD LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 8 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
4
520,000
520,000
Current assets
Stocks
7,438
691
Debtors
5
2,399,194
2,454,836
Cash at bank and in hand
9,013
12,726
2,415,645
2,468,253
Creditors: amounts falling due within one year
6
(3,682,199)
(3,780,905)
Net current liabilities
(1,266,554)
(1,312,652)
Total assets less current liabilities
(746,554)
(792,652)
Provisions for liabilities
(46,422)
(46,422)
Net liabilities
(792,976)
(839,074)
Capital and reserves
Called up share capital
7
1,000
1,000
Investment property reserve
184,568
184,568
Profit and loss reserves
8
(978,544)
(1,024,642)
Total equity
(792,976)
(839,074)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
Mr M E Sherling
Director
Company Registration No. 03031508
ROYSTON SHEET LEAD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
Share capital
Investment property reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2022
1,000
184,568
(1,598,268)
(1,412,700)
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
-
573,626
573,626
Balance at 31 December 2022
1,000
184,568
(1,024,642)
(839,074)
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
46,098
46,098
Balance at 31 December 2023
1,000
184,568
(978,544)
(792,976)
The investment property reserve includes all current and prior years' revaluation gains and losses on investment properties net of deferred taxation.  This reserve is non-distributable.
ROYSTON SHEET LEAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
1
Accounting policies
Company information

Royston Sheet Lead Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tavistock House South, Tavistock Square, London, WC1H 9LG.

 

The principal trading address of the company is Bingley Road, Hoddesdon, Hertfordshire, EN11 0NX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. true

In adopting the going concern basis for preparing the financial statements, the directors have considered the business activities and the group's principal risks and uncertainties. The group in which the company is a member meets its day-to-day working capital requirements through use of its cash and banking facilities.

In assessing the appropriateness of the going concern assumption, the directors have prepared detailed cash flow forecasts using the latest information available which show that the group can continue to meet its obligations as they fall due. The directors are therefore satisfied that the group will continue to operate within facilities agreed with the group’s bankers.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts, including sales rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
3 to 5 years straight line
Fixtures, fittings & equipment
3 to 5 years straight line
Motor vehicles
2 to 3 years straight line
ROYSTON SHEET LEAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 11 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

 

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ROYSTON SHEET LEAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 12 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
ROYSTON SHEET LEAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 13 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
608,718
Depreciation and impairment
At 1 January 2023 and 31 December 2023
608,718
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0

 

4
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
520,000
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
244,780
314,942
Amounts owed by group undertakings
2,051,758
2,043,054
Other debtors
102,656
96,840
2,399,194
2,454,836

Amounts owed by group undertakings are due within one year, interest free and unsecured.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
250
2,433
Amounts owed to group undertakings
3,191,629
3,249,530
Other creditors
490,320
528,942
3,682,199
3,780,905

Amounts owed to group undertakings are due within one year, interest free and unsecured.

ROYSTON SHEET LEAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Creditors: amounts falling due within one year
(Continued)
- 14 -

Included in other creditors is £340,718 (2022: £374,861) in respect of asset based financing facilities. These are secured on the assets of the group.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Profit and loss reserves
2023
2022
£
£
At the beginning of the year
(1,024,642)
(1,598,268)
Profit for the year
46,098
573,626
At the end of the year
(978,544)
(1,024,642)
9
Financial commitments, guarantees and contingent liabilities

The banking facilities provided to the company and group by HSBC PLC and HSBC Invoice Financing (UK) Limited are secured by way of a fixed and floating charge over the assets of the company and of its fellow group companies which include certain former group companies.

Further fixed charges have been created in favour of the Welsh Ministers securing the assets of group companies providing cross guarantees for all group companies in respect of the group's debt facilities.

10
Related party transactions

The company has taken advantage of FRS 102 section 33.1A to not disclose transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.

At the balance sheet date the following balances were owed from/(to) the following related entities which share a common director and/or shareholder:

 

Brandyford Group £30,256 (2022: £30,256)

11
Parent company

The company's immediate parent undertaking is Envirolead Distribution Limited, a subsidiary of Envirolead Midco Limited. The company's ultimate parent company is Industrial Metals Holdings Limited, a company registered in the Isle of Man.


International Metal Industries Limited is the parent company of Envirolead Midco Limited. International Metal Industries Limited has included the financial statements of Royston Sheet Lead Limited in their consolidated group accounts, copies of which are available upon request: Faulkner House, Victoria Street, St Albans, Herts, AL1 3SE.

The ultimate controlling party is Mr M E Sherling by virtue of his voting rights on his shareholding in the ultimate parent company.

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